Legal and Regulatory Framework

Topics: Contract, Sale of Goods Act 1979, Contract law Pages: 5 (1637 words) Published: November 26, 2012
Legal and Regulatory Framework
I. The basis of the contract
From the coupon attached, we can see the specialist terms as follows: 1. Each person should use only one ticket and not use the ticket in conjunction with other coupons 2. The Minimum consumption should be controlled over 100 yuan. 3. The coupon can’t be used in the holidays.

4. The final interpretation is owned by our company.
The standard form contract is a standard document prepared by many large organizations and setting out the terms on which they contract with their customers. The individual must usually take it or leave it: he does not really ‘agree’ to it. For example, a customer has to accept his supply of electricity on the electricity board’s terms; individuals cannot negotiate discounts. I chose a restaurant coupons. An offer is a restaurant A, while offered is the person consumed in the restaurant. An offer is a definite promise to be bound on specific terms .Acceptance is the unqualified agreement to the terms of the offer. If the consumer use the coupon, he’ll obey all the terms in the contract, especially the specialist terms. The parties must have reached some sort of agreement. In this case, there are two parties, the restaurant and consumer, who are mentally capable of understanding the nature and effect of the contract. And all of us are not legally restricted protected against making a contract due to absence of capacity or limited capacity.

II.The significance of specialist terms in the contract
Example: “Final interpretation of the business” “Holidays can’t be used” The significance of the specialist term: "Final interpretation" owned by the business belongs to a typical no-trade clause. The so-called “company reserves the final interpretation” is obviously beneficial to the the interests of one side who made the contract, but deprives the interests of one party who accepted standard form contract. Though a lot of prepaid coupons restrict on 'holiday' use, but there is no clear 'holidays' a specific date, it should be understood as legal holidays. But some businesses confuse the concept of "holidays" and "legal holidays". "Women's Day", "Youth Day", "Tanabata Festival and other festivals, as well as foreign" Christmas "," Valentine "," Splash" should not be included. Business use restrictions on legal holidays other than the festival, they should be on coupons coupon surface indicate, it is best to also clearly indicate the date of the "foreign holiday. To summarize, these specialist terms will bring the business more profit, so they would like to write this term in the format contract. On the other hand ,the benefit of consumers is badly hurt by these terms, which means that the consumers may pay much more money than they wills and waste the opportunity of using the Coupon indefinitely. III. The validity of two contractual terms in the contract

Example1: "minimum consumption"
The validity of the term: The specialist term "minimum consumption" is unreasonable. Consumers have the rights to choose where to consume or how much to consume. In this sense, the establishment of "minimum consumption" is illegal, it violates freedom choice of consumers and fair trading rights. Consumers have the right to choose who provides goods or services operators, to choose the types of products or services, to decide independently to buy or not buy any kind of goods, to accept or not accept any other service, but also the right to refuse compulsory transaction of the operators .

Example2: " Final interpretation is owned by the business"
The validity of the term: This specialist term belongs to a typical no-trade clause. This is to the understanding of a clause of the format of dispute, the businessman easily misleads consumers, puts forward the interpretation of the unfavorable to consumers. Task B

Legal position:
The seller of barrels: Mr. Jackson
The consumer: Ms. Charman
In accordance with Act12. Implied terms...
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