Contract Law

Only available on StudyMode
  • Topic: Contract, Contractual term, Breach of contract
  • Pages : 17 (5551 words )
  • Download(s) : 95
  • Published : March 2, 2013
Open Document
Text Preview
< FACULTY >

< SEMESTER / YEAR>

< COURSE CODE>

< COURSE TITLE>

MATRICULATION NO: <MATRIC NO>
IDENTITY CARD NO.: <IC NUMBER>
TELEPHONE NO.: <TELEPHONE>
E-MAIL : <EMAIL ID>
LEARNING CENTRE: <LEARNING CENTER>

TABLE OF CONTENT

1.0CONTRACT AND ITS ELEMENT
1.1Contract
1.2Offer
1.3Acceptance
1.4Consideration
1.5Intention to create legal relations
1.6Capacity
1.7Certainty
1.8Formality

2.0WHETHER VERYSIMPLE COSMETIC SDN BHD HAS THE RIGHT TO TERMINATE THE CONTRACT SHERYN MILIA 2.1VerySimple Cosmetics Sdn Bhd v. Sheryn Milia

3.0WHETHER TV10 HAS THE RIGHT TO CANCEL THE TALK SHOW AND DEMAND UPFRONT MONEY FROM SHERYN MILIA 3.1TV10 v. Sheryn Milia

4.0REMEDIES FOR SHERYN MILIA
4.1Remedies that Sheryn Milia could claim from TV10
4.2Remedies that Sheryn Milia could claim from Verysimple Cosmetics Sdn. Bhd

5.0CONCLUSION

6.0REFERENCES

1.0CONTRACT AND ITS ELEMENT

1.1Contract
The Law of contract can defines as ‘an agreement rise to obligation which are enforced or recognized by law’.The factors which distinguish contractual from other legal obligations is that they are based on the agreement of contracting parties.

“In book of Sir William Anson’s Law of contract, his definition it is: A legally binding agreement made between two or more persons, by which rights are acquired by one or more to acts or forbearances on the part of the other or other”.

Shortly it may be defined as an agreement between two or more parties which is intended to have legally enforceable consequences. The agreement referred to in the definition means a meeting of minds, called in law consensus ad idem, signifying that the parties are agreed together about the same thing. The definition also emphasizes that the parties to the contract must intend that their agreement shall be legally enforceable. Unless the law recognizes this and enforces the agreements of parties, it would be impossible to carry on commercial or business life. For this reason the law of contract plays a leading role in courses on business studies. These contractual agreements give rise to rights and obligations which the law recognizes and enforces. But certain agreements, such as domestic and social arrangements, are not intended by the parties to be legally binding. The legislation in Malaysia governing contract is the Contract Act 1950 (Act136) (Revised 1974)

1.2Offer
The term ‘offer’ or proposal is formation of an agreement. In section 2(a) of the Contract Act 1950, starts that “when one person signifies to another his willingness to do or to obtain from doing anything with a view to obtaining the assent of that other to the act or abstinence, he is said to make a proposal”. The first limb of section 2(c), Contract Act 1950 calls the person making proposal is ‘promisor’ and under act a proposal or offer is capable of being converted into an agreement by is acceptance. A proposal must be a definite promise to be bound provided certain specified terms are the promisor or offeror must declare his readiness to undertake an obligation upon certain terms, leaving the option of its acceptance or refusal to the offeree. An offer when accepted becomes a promise, section 2(b) of contract Act,1950 provides that when the person to whom the proposal is made signifies his assent thereto, the proposal accepted may be expressed or implied.

“The communication of a proposal is completed when it comes to the knowledge of person to whom it is made, section4 (1) Act 1950”. This mean the offer is effective once it is communicated to the offeree by offerror.

In section 3, Contract Act 1950,, a proposal made in word (oral or written) is said to be ‘expressed’ and in section 9, if proposal made other than word is to be ‘implied’ an offer contrast with ‘option’ and ‘advertisement’. An option merley an undertaking to keep the offer open...
tracking img