[Offer or Proposal and its acceptance]|
Comparison between the legal system of China & Bangladesh | |
[Offer or proposal and Acceptance is a traditional approach in contract law which is used to determine when an agreement exists between two parties. In order to constitute a contract, there must be an offer or a proposal by one person to another and an acceptance of that offer or proposal by the person to whom is made. The offer or proposal and its acceptance relationship are the heart of the contract formula.]| |
Mausumi AkterStudent Id- 2012722079Shanghai University of Finance and Economics| |
Table of contents
Serial Number|Topics|Page number|
4|Effectiveness of an offer or a proposal|5|
5|Communication of an offer or a proposal|5|
6|Withdrawal of an offer or a proposal|6|
7|Revocation of an offer or a proposal|6|
8|Extinguishment of an offer or a proposal|8|
9|Acceptance of an offer or a proposal|8|
10|Mode of an acceptance|9|
11|Effectiveness of an acceptance|10|
12|Communication of an acceptance|11|
13|Withdrawal of an acceptance|11|
14|Revocation of an acceptance|12|
Generally, A contract is an agreement entered into voluntarily by two parties or more with the intention of creating a legal obligation, which may have elements in writing, though contracts can be made orally( http://en.wikipedia.org/wiki/Contract) or contract is an agreement giving rise to obligations which are enforced or recognized by law.( Law of contract by Paul Richards)
According to Article 2 of The Contract Law of People’s Republic of China -a contract is an agreement between natural persons, legal persons or other organizations with equal standing, for the purpose of establishing, altering, or discharging a relationship of civil rights and obligations. As per section 2 (h) of The Contract Act of Bangladesh -an agreement enforceable by law is a contract.
In above two definitions Chinese one emphasizes the Principles of Party Equality, Contract Freedom, Fairness and Good Faith, Public Interest. On the other hand Bangladesh one emphasizes two things- (1) an agreement, and (2) the agreement should be enforced by law.
China follows the civil law system and Bangladesh follows the common law system. The legal system of China and Bangladesh is different. To form a contract according to Chinese law the exchange of an offer and its acceptance is the requirement. According to the contract law of Bangladesh to form a contract the exchange of the proposal and its acceptance is required. This paper has an intention to show an interest and attention to Comparison between the legal system of China & Bangladesh about the guiding laws in relation to offer or proposal and its acceptance.
An offer is an expression of a willingness to contract on certain terms made with the intention that a binding agreement will exist once the offer is accepted. As per Article 14 of The Contract Law of People’s Republic of China - an offer is a party's manifestation of intention to enter into a contract with the other party. The Article also states that The term of an offer must be clear and an offer made with the intention that it should be binding. If the terms of an offer is not clear it can be void for being too vague to be enforced.( Contract Law Fundamentals by Adam Epstein)
The offer is a vital element on the road to contract. Only an offer is capable of being accepted not the negotiations. The party seeking to show that there is a contract must prove the existence of an offer. ( Contract Law by George Applebey)The person who makes an offer is called the offeror . The person who receives the offer is called offeree.
The proposal is the starting point of a contract. According to section 2 of The Contract Act of Bangladesh- when one person signifies to...
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