OFFER AND ACCEPTANCE For a contract to be valid‚ firstly there must be an AGREEMENT between the parties i.e. one party must make an OFFER which is UNCONDITIONALLY ACCEPTED by the other. OFFER What is an offer ? An offer is a promise that the person making the offer (known as the offeror) is prepared to be legally bound upon specified terms – he is making a statement of the terms on which he is prepared to be legally bound‚ for example A says to B would you like
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Looking at it objectively: Standing outside the agreement‚ looking in as an outside observer. What do we think they have agreed? Smith v Hughes (1871) LR 6 QB 597 → court always objectively views the contract/agreement. Parties buy/sell new oats. Seller sold new oats while buyer wanted old oats. RTS v Molkerai (2010) UKSC 14 → that the courts have not diverged from viewing contract objectively. not (depending) upon their subjective state of mind‚ Why objective view? Because sometimes parties
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Course Project Part B a. the average (mean) annual income was less than $50‚000 Null and Alternative Hypothesis H0: mu= 50 (in thousands) Ha: mu<50 (in thousands) Level of Significance Level of Significance = .05 Test Statistic‚ Critical Value‚ and Decision Rule Since alpha = .05‚ z<-1.645‚ which is lower tailed Rejection region is‚ z<-1.645 Calculate test statistic‚ x-bar=43.74 and s=14.64 Z=(43.74-50)/2.070=-3.024 2.070 is calculated by: s/sq-root of
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The Therac 25 Disaster October 2012 1 Introduction The Therac-25 was a machine for cancer treatment manufactured by the Atomic Energy of Canada Limited (AECL) and went down to history as one of the world’s worst software disasters. The machine was released to the market in 1983 and was later involved in at least 6 accidents that lead to enormous radiation overdoses for the patients. One of the major innovations of the Therac-25 was the move to complete computer control‚ which allowed operators
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enforceable agreement‚ or a contract‚ can be broken down in to five elements; offer‚ acceptance‚ consideration‚ capacity to contract and intention to create legal relations. In this scenario there doesn’t appear to be an issue with capacity to contract and intention to create legal relations‚ so we can assume that they are both satisfied. The issues concerning this scenario are the concept of an offer‚ acceptance and consideration. When looking at the issues and assessing them‚ the objective view
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Chapter 25 Notes Hard Facts: Manchuria: Japan takes over the providence of Manchuria‚ China‚ in 1931. Due to this the League of Nations began to fail. Shortly after Japan withdrew from the leave and took over the rest of China. Due to this the threat in Asia and the Pacific increased. This was the first event leading up to the war. Benito Mussolini: Italian Fascist who became dictator. He supported the World War and joined forces with Nazi Germany to for the Rome-Berlin Axis. Nazis: National
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about the spare parts which is infact a mere inquiry rather than counter offer as Ting has not put forward any new terms to Ben’s offer in same subject matter and he still have the choice to accept or reject Ben’s offer 2(Stevenson‚ Jaques & Co v McLean‚ Graw 6th ed‚ pg55). 3. NEW OFFER: Ben’s reply to Ting’s mere inquiry is another offer as he has offered to provide the lot including spare part at same price and same previous terms with a new offer of including spare parts as well in same subject
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Bibliography: http://en.wikipedia.org/wiki/Offer_and_acceptance http://www.positivelyyoursinc.com/spiritually-inspiring/simple-spiritual-concepts/the-law-of-acceptance-and-divine-order/ Business Law‚ ( LAW 3235) ‚ prepared by Azza Isma Moideen‚ ( Manual for Internal Circulation Only)
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Firstly it is evident that Yatie’s serious intention as she requested a written acceptance from Tina‚ as an objective aproach. If we look in to the case of Lucy v. Zehmer‚ 196 Va. 493; 84 S.E.2d 516 [1954]‚ the parties signed a document which was for the sale of land and it was binding. Similarly in this case the intention to create legal relations is evident from the Yaties request to Tina to send a written acceptance. Secondly it has clear terms (to supply handcrafts) of what they are going to
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answering machine recorded Bill’s message stating that he wished to withdraw his acceptance. On Monday Alice opened Bill’s letter‚ which arrived that morning‚ and then played back the message on the machine. Advise Alice.’ Introduction Begin by exploring what topic the question is talking about so in this case the question is talking about how Bill has revoked his acceptance. Define the term revoke his acceptance. Main Body Argument for the point that there is a contract that has been bound:
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