Law of Contract
A contract is a legally binding enforceable agreement between two or
more parties. Where an issue of a breach of contract arises in court,
the court has to decide whether or not a contract has been made. To
do this they must establish whether an offer has been made or whether
it was simply an invitation to treat. If an offer has been made the
courts must then look to establish whether there has been an
acceptance.
An offer is a statement of willingness by one party to enter into a
contract on certain terms made with the intention that it shall become
binding on acceptance. Whereas an invitation to treat is an
expression of willingness to enter into negotiations which will
eventually lead to a contract being formed. Acceptance is an
unqualified expression of assent to the terms of the contract proposed
by the offeror.
The first thing to establish is whether an offer or an invitation to
treat was made. In this situation, following the case of Partridge v
Crittenden [1968] 1 WLR 1204, the initial advertisement in the
newspaper would constitute an invitation to treat. However Jason then
phoned three people and told them “the stock is yours if you can go to
£25,000 by 6pm on the 23rd. This would more than likely constitute to
an offer which is open to acceptance as the offer was made with the
intention of being bound by acceptance.
The second thing to consider is whether there has been any acceptance
of this offer by anyone. Julia sent a bid of £25,000 by fax to Jason
accepting the offer at 5.30pm on the 23rd November. By sending her to
bid by fax Julia is accept...
... middle of paper ...
... be valid meaning that
Jason would not be contractually bound to Peter.
In conclusion Jason would only be contractually bound to sell his
stock of bicycles to Martin and pay £2,000 to Darren for completing
all electrical work.
Text Books
1. McKendrick, P. (2005) Contract Law) 6th edition, Hampshire,
Palgrave, Macmillan Law Masters, pp32 – 53, 356 – 362.
Case List
1. Brinkibon Ltd v Stahag Stahl [1983] 2 AC 34
2. Carlill v Carbolic Smoke Ball Co. [1893] 1 QB 256
3. Entores v Miles Far East Corp. [1955] 2 QB 327
4. Felthouse v Bindley (1802) 11 CB (NS) 869
5. Hyde v Wrench (1840) 3 Beav 334
6. North Ocean Shipping Co v Hyundai Construction Co (The Atlantic
Baron) [1979] QB 705
7. Partridge v Crittenden [1968] 1 WLR 1204
Articles
1. Article 19 of the Vienna Convention
Serval weeks later, Maria sent a check for $60,000 to Eva, where Maria wrote “Payment in full for decorating services”.
This contract was created using the RESC form, which was likely provided by their real estate agent as it is the required form for real estate transactions according to Utah state law. The seller originally listed the house on a Multiple Listing Service (MLS). Jon and Marsha agreed that the asking price was too high for the neighborhood (although we are not given the actual listing price), and agreed to offer two-hundred and seven-thousand dollars ($207,000) and an Earnest Money Deposit of five-thousand dollars ($5,000). Additionally, the buyers requested that the seller pay 3%, which includes the title insurance and property taxes. After the REPC form was drafted, the two addendums were created.
This case arose when I went out of town on my first business trip. I have been a sales trainee for the last six weeks, and my supervisor felt it was time to send me out. I was lucky enough to get sent with the number one sales rep for the company, Vince Collier. I was excited because I knew that if I was going to learn the best ways to make a sale, it would be with Vince.
Merriam-Webster Dictionary has a two-fold definition for the word “contract”. A contract is “a binding agreement between two or more persons or parties, especially one legally enforceable” (Merriam-Webster). It is also a business agreement for the supply of goods or services at a fixed price” (Merriam-Webster). John Rawls argues that “an agreement is not necessarily fair even if it is voluntary. To be fair, an agreement must also be made against a background of equality. It is unfair if one of the contracting parties is able to take advantage of the other party because they are stronger, richer, better informed, or simply more powerful” (Sandel 30). The purpose of this essay is to affirm Rawls’ argument because I do agree that entrance into a contract does not mean that the contract is just, especially if one party is perceived to have an advantage over the terms of the contract. To do so, I will use a scenario to prove that if an agreement was made voluntarily, this is not enough to ensure that the terms agreed to are fair. I will also provide possible counterarguments for oppositions that provide criticism on Rawls’ grounds.
In the story “Found Money” by Skip Downing, when the spouse of Yolanda passes away, she decides to sell a few of his things. She decides to sell some of his cars that he left her because selling them would help get rid of the clutter and let her be able to buy a new vehicle. But before she sold them, she wanted to make sure that the vehicles would go to people that her husband would have liked. So therefore, she sets up interviews with prospective customers until she’s able to find the right buyers for said vehicles. While she was doing the interviewing, she had four interviewees come in to buy the cars. At the end, the vehicles were unloaded.
According to the Minnesota Court of Appeals (2005) the written offer is not evidence of a completed contract and therefore no contract existed.
Soon the Father noticed I was looking at the vintage cameras, he walked over to me and asked if i wanted to see the stockroom. I agreed and was lead into the back of the building, where their was a table covered in stuff. About half of it was partially disassembled cameras, like someone had been using them for parts. The other half was in fair to pretty good shape. Their was your usual smattering of orphaned cameras whose film is no longer made and there is no easy way to convert them to take modern film. What was left I sorted through quickly, placing in a “want” and “dont want” pile. My plan was to ask what each item in my “want” pile cost and try to get a deal on two or three things for around 150 doll...
The social contract was first discussed by Thomas Hobbes. Hobbes was the foremost British philosopher of the 17th century. Hobbes explained what he called “the state of nature.” Now, to understand the state of nature, you first need to think of what life would be like if there were no way to enforce social rules, if there were no laws, police, or courts. This is what the state of nature would be.
Alex, the senior electronics buyer for MegaShop, saw a great potential in acquiring digital cameras model JX-25 after he found the demand forecast for that specific product to be high (Coyle, J., & Novack, R., 2011). He saw a great opportunity to profit from the demand for these digital cameras but he needed a supplier that would provide him with the quantity that he needed at a low price (Coyle, J., & Novack, R., 2011). He had three offers, one from a supplier based in Japan, a second offer from a supplier based in India, and a third offer from a supplier based in Ukraine(Coyle, J., & Novack, R., 2011). Each of these suppliers had different prices and different ways to deliver the merchandise that would result in different total costs (Coyle,
The basic law of a contract is an agreement between two parties or more, to deliver a service or a product. And reach a consensus about the terms and conditions that is enforced by law and a contract can be only valid if it is lawful other than that there can’t be a contract. For a contract to exist the parties must have serious intentions, agreement, contractual capacity meaning a party must be able to carry a responsibility, lawful, possibility of performance and formalities. Any duress, false statements, undue influence or unconscionable dealings could make a contract unlawful and voidable.
Based on common law and precedent, the English law of contract has been formulated and developed over a number of years with it’s primary purpose to provide a regulated framework within which individuals can contract freely. In order to ensure a contract is enforceable there are certain elements which must be satisfied, one of which is the doctrine of consideration. Lord Denning famously professed; “the doctrine of consideration is too firmly fixed to be overthrown by a side wind” . This is a crucial indication that consideration has long been regarded as the cardinal ‘badge of enforceability’ in the formulation and variation of contracts in English common law.
A contract is an agreement between two parties in which one party agrees to perform some actions in return of some consideration. These promises are legally binding. The contract can be for exchange of goods, services, property and so on. A contract can be oral as well as written and also it can be part oral and part written but it is useful to have written contract otherwise issues can be created in future. But both the written as well as oral contract is legally enforceable. Also if there is a breach of contract, there are certain remedies for that which are discussed later in the assignment. There are certain elements which need to be present in a contract. These elements are discussed in the detail in the assignment. (Clarke,
Contacting him wasn’t too hard; I found the number for World Industries in a snowboard magazine. When I called I was given a new number, since they changed offices. The secretary put me right through to Mark McKee’s voice mail when I called the new number. I left a message and then realized I may not get a call back. Who wants to call someone to answer questions? So I figured I take a little more initiative and find out when he would be there so I could chat with him. After a second call to the secretary I found out I needed to call back in just about an hour and a half.
Therefore this case holds the legal principle (as seen in Contract Law pg 13) that offers can be addressed to the general public and are accepted when the offer is acted upon by a member of the general public. A similar case provided by the Court of Appeal is Bowerman v Association of British Travel Agents Ltd (1996) where the Association of British Travel Agents made an offer to the public at large that they would reimburse any money paid in respect of their holiday arrangements if the holiday was cancelled. This case reinforced that offers can be made to the whole world like that shown in
Law is “that portion of the established habit and thought of mankind which has gained distinct and formal recognition in the shape of uniform rules backed by the authority and power of the Government” Woodrow Wilson. Rules are established by the state and then they are controlled and run by those having legal power in the society. It consists of strict guidelines which run and correct wrong behavior in the society. Those who do not obey the law will be brought to justice and punished .Law must protect humanity or human rights, the purpose of law is that it should According to Ukessays.com (n.d) is a set of rules governing the relationship, content and validity of an agreement between two or more persons. Law of contract, a contract is an agreement