Introduction
A contract is an expressed or implied agreement that legally binds the contracting parties into performing their contractual obligations. It has been defined in the section 2(h) of the Contract Act 1872 as, “An agreement enforceable by law is a contract.” A contract that is not made as a result of expression or implication of mutual consent of the contracting parties is not considered valid. An obligation is a commitment or a duty that is legally binding under a certain discipline. Obligations vary from discipline to discipline.
What is contractual obligation?
A contractual obligation is a commitment or duty that arises by signing or accepting a contract. An obligation under contract is chosen by the contracting parties through
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Comparison between Contractual Obligation and Obligation under Torts
The obligation under torts arises due to a choice, such as, you make a choice to start a construction and that gives rise to an obligation to take due care and not destroy the property of another. On the other hand, contractual obligation is a choice itself which is enforced after acceptance of a contract. The consequences that arise due to breach of obligations under torts and contractual obligation are different. The purpose of the law of contract is to enforce the contract and compensate the damage that the breach has caused. In torts, the tortfeasor is asked to pay the damages that he has caused to the injured party.
In Erlich v. Menezes, 981 P.2d 978 (Cal. 1999), it was decided that,
“The distinction between tort and contract is well grounded in common law, and divergent objectives underlie the remedies created in the two areas. Whereas contract actions are created to enforce the intentions of the parties to the agreement, tort law is primarily designed to vindicate social policy.”
In Applied Equipment Corp. v. Litton Saudi Arabia Ltd., 869 P.2d 454 (Cal. 1994) , it was
"A contract is a legally enforceable promise or set of promises. In other words, when promises have the status of contract, the contracting party harmed by a breach of the contract is entitled to obtain legal remedies against the breaching party" (Mallor et al., 2015, p. 320)
Tort, one of the crucial subjects of study when analyzing common law jurisdictions. Tort, is an action which causes another person or party to suffer harm or loss []. The person who has committed a tortious act is called the tortfeasor while the person who suffered harm or loss from such act is called the injured party or the victim. Although crimes may be torts, torts may not be crimes [] simply because a tort may not have broken a law. In fact, one must understand that the key idea of tort is not to punish the tortfeasor(s) but rather to compensate the victim(s).
after suffering harm from the acts of the other party (Turner, 2013). A tort is a civil wrong
Did the court find specific performance to be an adequate legal remedy in this case?
HILLIARD, J. And O’SULLIVAN, J. (2012) The Law of Contract [Online] 5th Ed. Oxford: Oxford University Press. Available from - http://books.google.co.uk/ [Accessed: 2nd January 2014]
Obligations can be both moral and legal obligations. For example, a moral obligation would be to help someone when they’re in need of help. We do not legally have to help someone, but it is seen as moral to do so. Legal obligations are where an individual is bound by a contract or responsibility to perform a certain duty. For example, a parent would have a legal and also a moral obligation to look after their child.
Considerable effort has been expended in attempts to identify the purpose of the law of torts. However, the range of interests protected by the law of torts makes any search for a single aim underlying the law a difficult one. For example, actions for wrongful interference with goods or trespasses to land serve fundamentally different ends from an action seeking compensation for a personal injury. Nevertheless, following the research I have carried out the fundamental purpose of the law of torts is to achieve compensation and appeasement and to obtain deterrence and justice, in order to determine the conditions under which certain losses may be shifted to persons who created the risks which in some way led to the losses. In doing so, the law of torts attempts to balance the utility of a particular type of conduct against the harm it may cause. During the course of this essay I will discuss each function separately and I will investigate how each function achieves its individual resolution of a tort.
Carlill the plaintiff who is the party filling the case went against the defendants who was carbolic smokeball Company due to a breach of contract.
Under this condition, moral and political obligations are dependent upon a contract or agreement among the people to form the society in which they live.
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.
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,
One of the last remaining strongholds of classical contract law is the notion that contracts require offer and acceptance therefore, in order for a contract to become binding, offer, acceptance, consideration and intention to create legal relations must exist. However contracts are formed in different ways for each different circumstance. (Shawn Bayern, Offer and Acceptance in Modern Contract Law: A Needles Concept, 103 Cal. L. Rev. 67, 102 (2015)
A contract is generally considered to be an exchange of promises or an agreement between parties which in due course legally binds the parties; this can be enforced by the English Law. A contract is always, referred to the basic foundations of Contract Law, which refers to promises being kept amongst two parties. It is clear that all people make contracts nowadays and do not even consider for a moment that they are forming contracts; these can be formal or informal, oral or written.
Contracts and agreements have many key differences. A contract is an agreement between two parties that is legally binding. In order for a contract to be valid and have legal standing, it must have four requirements; consideration, contractual capacity, and legality. Without all four of these requirements it is not considered a contract and has no legal standing. An agreement is an understanding or some type of arrangement between two or more parties and does not need to have the four requirements that a contract must have. Most of the time, agreements are informal and not enforceable by law.