"Explain Various Legal Rules Regarding Valid Offer Valid Acceptance" Essays and Research Papers

  • Explain Various Legal Rules Regarding Valid Offer Valid Acceptance

    In this essay, I am going to analyse the rules of offer and acceptance and then come to a conclusion as to how satisfactory I think each of them are and why. In its general sense, an offer is an indication or proposal by one person or party (offeror) to another (offeree). It consists of one party promising to do or give something for the other party’s promise to do or give something in return. There must be willingness to contract on certain terms, made with the intention that it shall become...

    Contract, Contract law, Invitation to treat 1991  Words | 5  Pages

  • Offer and Acceptance

    legally 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...

    Breach of contract, Contract, Contract law 1536  Words | 4  Pages

  • Legal Aspects of Business

    LEGAL ASPECTS OF BUSINESS Q.1) a) Define contract . Explain the different ways by which a contract may be discharged. (15) b)Explain in detail rights of surety. ( 10) Q.2) a) Define contract .Explain essentials of valid contract. (15) b) Explain the meaning of free consent and explain the circumstances...

    Commercial paper, Consumer protection, Contract 832  Words | 4  Pages

  • Contract Acceptance and Offer

    intended to be legally binding”. This answer will highlight the main points to see the differences between an offer and an invitation to treat.” An offer may be defined as a statement of willingness to contract on specified terms made with the intention that, if accepted there will arise a binding contract”. On the other side, invitation to treat invites the other people to make an offer which can be accepted or rejected by the other party. To illustrate them we have to look in certain areas. First...

    Consideration, Contract, Contract law 1492  Words | 4  Pages

  • Valid Contracts

    Valid Contracts Victoria Glaser American Intercontinental University Abstract A contact is a legal binding agreement made between two parties. A contract is only enforceable if both parties involved in the contract have agreed to give or receive something of value. When going into an agreement or contract it is important to know the type of contract. This paper will explore the various types of contracts and the meaning of each. Express or implied contracts, unilateral...

    Consideration, Contract, Contract law 1291  Words | 5  Pages

  • Valid Contract

    Essential features of a valid contract Contracts come in all shapes and sizes. Some are verbal, some are written. Some are formal, some informal. The use of the internet and electronic technology is also becoming increasingly common in the context of forming contractual relationships.  It is, therefore, important to understand the essential features which make a contract valid, binding, and enforceable. What is a contract? A contract is an agreement between two or more parties that is intended...

    Breach of contract, Common law, Consideration 810  Words | 3  Pages

  • essential elements of a valid contract

    Essential elements of a valid contract Introduction: In this part of my assignment I will be detailing what the different elements of a valid contract are whilst also linking it in with my own contract. The contract I have decided to use is my mobile phone contract from Vodafone. The offer: In contract law the offer is where a person will accept the invitation, for example in my contract the offer would be when I offer to bind into their contract and purchase a mobile phone deal, and this...

    Common law, Contract, Contract law 817  Words | 2  Pages

  • Offer and Acceptance

    Contract: enforcing bargains made between parties. Requirements for a valid contract • AGREEMENT between the parties • Requirement of CERTAINTY – terms of the contract/what’s going to happen during the life of the contract • INTENTION to create legal relations (formal agreement where they expect the law to be involved) • CONSIDERATION (giving each other party something of value which underlies promise they are making) AGREEMENT: (bargain negotiated between two parties) Looking at it objectively:...

    Alfred Denning, Baron Denning, Contract, Contract law 914  Words | 4  Pages

  • Offer and Acceptance

    marks) For this case the major issue is whether a valid contract is made between Tina and Yatie, and whether the the offer by Yatie was revoked or not. According to (Miller & Jentz, 2010) every contract will involve atleast two parties. That is the offeror and the offeree. The offerer is the party who makes the offer, and the offeree is the person to whom the offer is made to. OFFER As per (Clarkson, Miller, Jentz, & Cross, 2009) an offer is a promise or commitment to do or not to do a...

    Contract, Offer and acceptance, Option contract 1116  Words | 3  Pages

  • The Valid Contract

    A valid contract consists of all essential components which present and the court will enforce as a legally binding promise . One of the elements contract to create a contract is agreement which included an offer and acceptance. “Acceptance is a final and unqualified assent to the terms of the offer, made in the manner specified or indicated by the offeror” . Acceptance may be express orally, in writing, occasionally, or even by implied from the offeree’s conduct. In communication of acceptance, general...

    Common law, Communication, Contract 2101  Words | 6  Pages

  • Offer and Acceptance - Contract Law

    the legal positions of Celia and her potential buyers is the character of the advertisement. It has to be distinguished between an advertisement which constitutes an offer or an invitation to treat. An advertisement may be considered an offer if it is clear, precise, definite and leaves nothing open for negotiation. This was established by Leftkowitz v Great Minneapolis Surplus Store involving a case of the sale of two mink scarves and a stole. The phrase “ £10,000 for the lot, no offers” could...

    Breach of contract, Carlill v Carbolic Smoke Ball Company, Contract 1019  Words | 3  Pages

  • Offer and Acceptance

    Business Law: Offer and Acceptance. For a simple contract to be valid one party must make an offer and the other party accept it. ‘An offer is made where a person (the offerer) unequivocally expresses to another (the offeree) his willingness to make a binding agreement on the terms specified by him if they are accepted by the offeree' (Card 2002). This offer could be made to a specific person, in which case it cannot be accepted by anyone other than that individual. On the other hand it could...

    Carlill v Carbolic Smoke Ball Company, Contract, Contract law 1530  Words | 4  Pages

  • Requirements for a valid contract

    BTEC National Business Unit 21: Aspect of contract and business law Assignment 1: The requirements for a valid contract P1: Identify the legal criteria for offer and acceptance in a valid contract. In order for a contract to be legally binding, both parties must make an offer and an acceptance of that offer. An offer, by law it is generally presumed that in a commercial transaction, the contracting parties must have the intention to create a legally binding contract. This means that if they...

    Carlill v Carbolic Smoke Ball Company, Contract, Contract law 1882  Words | 5  Pages

  • Rules for Offer and Acceptance

    Introduction: Rules of Offer and Acceptance are applied to enforce an agreement by the law. This agreement is the first requisite of any contract of the business. In order to a contract come into being between parties, the offer is made by the offeror and the oferee accept that offer. In 21st century, there are rapid changes in business trend which create lots of new business model such as e-business and global business. The more business participates, the more requirements of Offer and Acceptance Rules to...

    Auction, Carlill v Carbolic Smoke Ball Company, Contract 993  Words | 3  Pages

  • Offer and Acceptance

    In the given question the issue is whether there is a binding contract between Gerard and Reg. A contract can be defined as a voluntary assumption of obligation .In order to establish a contract there must be an offer followed by an acceptance. In order to see whether the parties have come to an agreement the court would look at the intention of the parties. Intention will be looked at objectively .In applying the objective test the courts consider whether the reasonable person in the other parties’...

    Contract, Contract law, Invitation to treat 1435  Words | 4  Pages

  • Offer and Acceptance

    Contract Law- Offer and Acceptance Enforcement of promises Criteria: 1. Offer and corresponding Acceptance 2. Consideration 3. Intention to create legal relationship 4. Certainty I. Formative elements – will theory of K Offer - an expressionof willingness to contract upon certain terms – binding upon acceptance Requisites: (a) Offer will become binding upon acceptance; and [may be prepared to sell] (b) Nothing further remains to be done If no an offer, what is it...

    Contract, Contract law, Invitation to treat 677  Words | 3  Pages

  • Offer and Acceptance

    Without offer and acceptance there can be no contract and so it is essential that the law provides rules to identify what constitutes both an offer and an acceptance. An offer may be defined as a statement of willingness to contract on specified terms made with the intention that, if accepted, it shall become a binding contract. An offer may be express or implied from conduct. In many cases it is crucial to determine when and where a contract is actually formed and this too needs rules. In the vast...

    Alfred Denning, Baron Denning, Carlill v Carbolic Smoke Ball Company, Contract 1158  Words | 3  Pages

  • The Four Elements of a Valid Contract

    International Legal and Ethical Issues Lanettee Ludy BUS 310-1103A-05 Unit 3 IP August 4, 2011 Abstract This assignment will give a brief insight into the four elements of a valid contract as well as the objective theory of contracts. It will also explain how the objective theory of a contract applies to this case. I will try to explain why the court held that there was not a valid agreement between the company and the Seattle man. The four elements of a valid contract Contracts are...

    Common law, Contract, Contractual term 961  Words | 3  Pages

  • Explain the Different Types of Business Agreement and the Importance of the Key Elements Required for the Formation of a Valid Contrac

    particular business venture. A typical business agreement specifies details such as cost of goods sold, the product or service required, milestones, insurance, and work completion deadlines. Unilateral Agreement A unilateral agreement or contract is a legal binding one in which one party undertakes a promise without securing a similar promise or undertaking from another party. A unilateral agreement is a one-sided contract between an offeror (or promisor) and an offeree (or promisee). The party making...

    Consideration, Contract, Contract law 1784  Words | 5  Pages

  • Offer and Acceptance

    Legal Issue: Is an agreement between two parties enforceable by law 1. OFFER: Ben has contacted Ting in the subject matter of identifiable object GTX which Ting had inspected two days ago, he clearly mentioned terms and conditions i.e. $30,000 cash and showed an intention to be bound by these terms and conditions 1(Harvy v Facey, Graw 6th ed, pg 41). 2. MERE INQUIRY: Ting didn’t accept or reject Ben’s offer and inquired about the spare parts which is infact a mere inquiry rather than counter...

    Consciousness, Contract, Contract law 704  Words | 3  Pages

  • Business Law and Ethics, Offer and Acceptance for a Contract

    of the contracts, especially about offer and acceptance. We will analyze the situation to see what laws are applicable and advise Neil. In this case, we have three different people: Firstly an offeror, a person who makes an offer (in this case, Neil) and two offerees, the person to whom an offer is made (in this case, Theresa and Alex). Neil placed an advert in the “Cats Weekly” magazine, which offer a rare female utopian cat for sale £500 or nearest offer. This is an invitation to treat, which...

    Cat, Contract, Contract law 1117  Words | 3  Pages

  • Elements of a Valid Contract

    This paper will attempt to identify and explain the four elements of a valid contract, explain what the objective theory of contracts is and define and explain how the objective theory of contracts applies to the Unit 3 IP. This paper will also explain why I think the court held that there was not a valid contract in the scenario of the unit 3 IP as well as explain why advertisements are generally considered not to be valid offers. The four elements of a valid contract are: * There must be an...

    Common law, Contract, Gentlemen's agreement 775  Words | 3  Pages

  • Discuss the essential elements of a valid contract?

    of an agreement are: 1: - Offer of a proposal. 2: - An acceptance of that offer or proposal. What agreement are contracts? All agreements are not studied under the Indian Contract Act, assome of them are not contracts. The Contract Act is the law of thoseagreements, which create obligations, and in case of a breech of a promise byone party to the agreement, the other has a legal remedy. Thus, a contract consists of two elements, 1.An agreement 2.Legal Obligations i.e. It should be...

    Common law, Contract, Contract law 698  Words | 3  Pages

  • formation of contract rules

    1 Forming a Contract Intention to contract? Yes No No contract Yes Valid offer? No No contract Valid acceptance? Yes Yes Consideration? No No No contract Prima facie VALID CONTRACT No contract To be a contract, the arrangement between the parties must show certain elements. If those elements are not present, the agreement is not a contract and the courts will not assist in its enforcement. Intention to Contract 1. If the agreement is social...

    Contract, Contract law, English contract case law 592  Words | 2  Pages

  • distinguish between an offer (proposal) and an invitation to treat

    questions: Question 1: In this passage, I describe the differences between offer (proposal) an invitation to treat under common law and Malaysian Contracts Act by using several typical examples. Question 2: Here have a case of invitation to treat, and I need to be able to analysis the case by using relevant provisions and case law and evidence my opinion. 2.0 QUESTION 1 Explain and distinguish between an offer (proposal) and an invitation to treat under common law and Malaysian Contracts...

    Carlill v Carbolic Smoke Ball Company, Common law, Contract 1555  Words | 4  Pages

  • Postal Rule

    THE POSTAL ACCEPTANCE RULE DANE GARBETT* CONTENTS I | Introduction | 1 | II | What Is The Postal Rule | 2 | III | Justification of the Postal Rule | 2 | IV | Application of the Postal Rule | 4 | V | Conclusion | 6 | VI | Bibliography | 7 | I Introduction The decision of distance contracts has been one of the major issues that arise within contract law. In which questions had risen in regards to the application of the postal rule and whether it should continue. A strong debate...

    Case law, Commercial law, Common law 2053  Words | 7  Pages

  • Postal Rule

    To form a contract, it usually requires offer and acceptance. Acceptance is an expression by words or conduct of assent to the terms of the offer. It shall be clear, unequivocal and unconditional as prescribed by the offeror. It is a moment when contract exist (that there is consensus ad idem). The general rule of acceptance is been stated in the case of Entores Ltd v Miles Far East Corporation, Lord Denning claims that an acceptance does not usually valid until it is reached to the knowledge of...

    21st century, Contract, Courier 1400  Words | 5  Pages

  • Legal Valid Contract

    guidelines to follow for the contract to be valid. A contract is defined as an official agreement which can be written or an oral agreement. A contract is a promise that is made between two or more people and can be formal or informal. There are six elements that make the contract valid, if these elements aren’t present in the contract then it is not considered to be valid. The first element of importance would be that the two parties must have an offer. An offer is the actual promise or agreement...

    Common law, Contract, Contract law 587  Words | 2  Pages

  • Acceptance

    Acceptance  An acceptance is “a manifestation of assent to the terms [of the offer] made by the offeree in the manner invited or required by the offer.” In determining if an offeree accepted an offer and created a contract, a court will look for evidence of three factors: (1) the offeree intended to enter the contract, (2) the offeree accepted on the terms proposed by the offeror, and (3) the offeree communicated his acceptance to the offeror. Common Law: Traditional “Mirror Image” Rule...

    Common law, Contract, Contract law 2258  Words | 7  Pages

  • B2B vs B2C Legal Ethical And Regulatory

    B2C versus B2B Legal, Ethical and Regulatory Bob Holland EBUS/400 Milind Modi April 28, 2010 B2C versus B2B Legal, Ethical and Regulatory This analysis will provide the reader with information that explains how legal, ethical and regulatory issues differ on a B2C website compared to a B2B website. The analysis will examine these different elements and will describe the differences and the similarities. Overview The primary differences of a B2C and B2B website when discussing...

    Common law, Contract, Contractual term 900  Words | 3  Pages

  • - Understanding the Essential Elements of a Valid and Legally Binding Contract

    day-to-day business practice. In this assignment particular cases will be considered from the legal standpoint. Legal aspect has always been important to any kind of business. Depending on the scale of operations we can see legal departments in large multinational corporations or small companies outsoursing lawyers or getting legal consultations. Knowledge of the law not only allows identifying what’s legal or illegal and not to break the law, it also helps securing the company from fraudulent or...

    Common law, Contract, Contract law 3517  Words | 12  Pages

  • Legal Aspects of Business

    significant bearing on business organization Course Contents: Module I: Companies Act, 1956 Meaning, definition and characteristics of company Type of companies and features of various types of companies Incorporation of companies Memorandum and articles of Association Prospectus and commencement of Business' Transfer and transmission of shares Share warrant and share certificate Membership of companies meetings; Directors...

    Bearer instrument, Cheque, Commercial paper 378  Words | 3  Pages

  • general offer

    Offer Proposal is defined under section 2(a) of the Indian contract Act, 1872 as "when one person signifies to another his willingness to do or to abstain from doing anything with a view to obtain the assent of that other to such act or abstinence, he is said to make a proposal/offer". Thus, for a valid offer, the party making it must express his willingness to do or not to do something. But mere expression of willingness does not constitute an offer. The rules regarding the offer are The offer...

    Advertising, Carlill v Carbolic Smoke Ball Company, Contract 1782  Words | 8  Pages

  • Law Questionnaire

    Questions on Contract 1. a) Define Contract. b) Explain the essentials of a valid contract. 2. a) What is an offer? b) When does it complete? c) Discuss the legal rules of a valid offer. 3. a) What is an acceptance? b) How can an offer be accepted?? c) Discuss the legal rules of a valid acceptance. 4. a) Who is competent to contract? b) Discuss briefly the position of a minor with regards to the contracts entered into by him. 5. a) Define Consideration...

    Breach of contract, Cheque, Commercial paper 1256  Words | 5  Pages

  • Legal Class Study Guide

    – terminology, • Property – is the legal right to exclude others from resources that are originally possessed or are acwuired without force, theft, or fraud. • Mortgage – put up their houses to secure the loans • Real property law applies to ownership to land and interests in land such as mining rights or leases. • Personal property • Contract- rules control the way owners make agreements to exchange resources in the property-based legal system. • Rule of first possession – is that the st...

    Common law, Contract, International trade 2465  Words | 7  Pages

  • Valid Contract

    Importance of essential elements required for formation of valid contract The contract law is a situation where law is related to business transactions. In the situations good are purchased, sold, as well as moved through the contract. The employees are hired, land are developed, sold, bought leased or financed under the contract. Most of the businesses are based under contracts. Generally, the contracts represent foundation of the most of the commercial activities and therefore contract law stands...

    Breach of contract, Common law, Contract 3689  Words | 11  Pages

  • The Offer and Acceptance Model Is Flawd- Only an Agreement Is Necessary

    The offer and acceptance model is flawed- only an agreement is necessary. In order to fully comprehend this statement, we must first establish what constitutes and offer and what constitutes acceptance. “An offer is a statement by one party of willingness to enter into a contract on stated terms, provided that these terms are, in turn, accepted by the party to whom the offer is addressed”. Acceptance is “…an unqualified expression of ascent to the terms proposed by the offeror”. The “Offer and acceptance...

    Alfred Denning, Baron Denning, Carlill v Carbolic Smoke Ball Company, Contract 1476  Words | 4  Pages

  • Contract and Offer

    27, 2013 BUSN-420 Week 3: Individual Assignment What is required for a valid offer? There are six parts to the formation of a valid contract: 1. An intention to create a legal relationship – In short, both members must be of sound mind and have a clear agreement that a contract (or arrangement if verbal) will be formulated between the two parties. Either side of the party cannot be tricked into the contract. 2. Offer – The request for services, a product, or arrangement from one party to another...

    Breach of contract, Contract, Contract law 769  Words | 3  Pages

  • Contract and Offer

    parties making an offer and its acceptance by the other party. Both offer and acceptance create an agreement. In simple contract should first contain an offer made by one party to the other. What is an offer? As per Sec 2(a) of the contract act “When one person signifies to another his willingness to do or abstain from doing anything, with a view to obtaining the assent of that others to such act or abstinence is said to make a proposal”. The word offer of the English law...

    Consumer Protection, Contract, Contractual term 1513  Words | 5  Pages

  • Comment on the essential elements of a valid contract and the importance of each.

    "A valid contract, in essence, is the agreement between its parties". Discuss this statement and, using both case law and legal principles, comment on the essential elements of a valid contract and the importance of each. To a certain extent this statement is true but it is only one element of a valid contract to explain please find following all elements and conditions within a valid contract. To Contract: Is to enter into a relationship or agreement between two or more parties that create in...

    Common law, Contract, Contract law 2076  Words | 8  Pages

  • Offer and Acceptance

    Contract: Offer and Acceptance LAW 531 December 12, 2012 Offer and Acceptance Creating the contract is an extremely difficult process. A contract must have an offer and acceptance determine whether an agreement exists between two parties. An offer is a suggestion made by one person to another of his or her readiness to enter into an agreement under certain terms and conditions without further negotiations. The contract is accepted when the offer has been formally communicated to the offeror...

    Contract, Gentlemen's agreement, John Cusack 1099  Words | 4  Pages

  • Law (Missrepresentation, Counter Offer, Offer, Revocation)

    Introduction The aim of this paper is to identify and apply the legal issues based of the given facts in the question. This paper is focused on whether there is a legally binding agreement between A Bank Berhad (the Bank) and Investment Berhad (the Company) which caused the Company to sustain economical losses. The elements of offer, acceptance and intend will be used to analyse if there is a legally binding agreement between them. The discussion would also contain possible...

    Breach of contract, Common law, Contract 2502  Words | 7  Pages

  • Understand the Legal Requirements for a Valid Contract

    Assignment 1 – Understanding the legal requirements for a valid contract The essential elements for a contract, who apply in all cases, are: 1. Offer- made by offeror to the offeree , it is very important to distinguish this from invitation to treat ( which invites offers to be made) 2. Acceptance – Offeree accepts the offer that has been made. Rolls Royce Car 3. Consideration- Something of value passes between the two parties e.g.: A ...

    Breach of contract, Contract, Contract law 4307  Words | 12  Pages

  • Explain the rule known as "The Rule in Pinnel's Case" and how it impacted upon the doctrine of consideration

    Synopsis: This essay examines the rule knows as The Rule in Pinnel's Case and how it impacted upon the doctrine of consideration. It also examines the problems arising from the Rule in Pinnel's Case, the subsequent exceptions that were developed to circumvent the rule and in detail the most important exception of them; Promissory estoppel and how it solved the problem's arising from the Rule. The distinction between traditional estoppel and this new type of estoppel 'Promissory Estoppel' are also...

    Common law, Contract, Creditor 2245  Words | 7  Pages

  • Essential elements of a valid contract

    Without the help of the particular that mentioned above, I might have faced many difficulties while doing this assignment. Introduction “All of us are confronted with rules every day of our lives. Most of us make, interpret and apply them, as well as rely on, submit to, avoid and grouse about them…” (How to do things with rules, William twining and David Miers, 1991) We involve in contract in our everyday life. Either we realize it or not, we have make contract from as simple as buying groceries...

    Breach of contract, Consideration, Contract 5646  Words | 23  Pages

  • Valid contract

    products. In the above figure, the arrow in the center of the loop indicates the way the loop is running. There are various reasons as to why I decided to focus on the quality of food produced. Quality is the main aspect that most of the clients search in the food market. Food is a extremely sensitive matter in an individual’s life therefore, it is extremely valued. The company that offers the most quality food services makes the highest sales as compared to others (Knight & White, 2009). In contrast...

    Audio feedback, Control theory, Cybernetics 1521  Words | 5  Pages

  • Mailbox Rule

    Mailbox Rule Discussing Development & Application of Mailbox Rule I. Introduction In the Common Law system, “the Mailbox Rule is an alternate term for the Postal Rule; when mailed, an acceptance of an offer to contract is valid from the moment it is deposited into a mailbox; on dispatch.” The Mailbox rule is an exception to the general rule that a contract is created when acceptance is directly communicated to the offeror...

    Common law, Contract, Contract law 1898  Words | 5  Pages

  • Offer and Acceptance

    Offer and acceptance | Contract law | Part of the common law series | Contract formation | Offer and acceptance · Mailbox rule Mirror image rule · Invitation to treat Firm offer · Consideration | Defenses against formation | Lack of capacity Duress · Undue influence Illusory promise · Statute of frauds Non est factum | Contract interpretation | Parol evidence rule Contract of adhesion Integration clause Contra proferentem | Excuses for non-performance | Mistake · Misrepresentation ...

    Breach of contract, Common law, Contract 4000  Words | 11  Pages

  • Legal And Non Legal Rules

     1.1 1. Explain the difference between a legal and non-legal rule A legal rule is a rule created by the government of Australia and applies to the entire population, while a non-legal rule is created by an individual or organisation and only applies to a specific group. 2. Rules are applied in each of the circumstances listed below. Sort them into legal and non-legal Legal rules Non-legal rules Having to wait until you are 18 years old before you can vote at a federal election Wearing school uniform...

    Appeal, Court, Crime 934  Words | 4  Pages

  • Offer and Acceptance

    Introduction Offer and Acceptance Introduction: For a contract to be legally binding there needs to be 4 ingredients: 1. Offer 2. Acceptance 3. Intention to create legal relations 4. Consideration Building on this, in order to prove that a contract is legally binding 5 things need to be proven: 1. That an agreement has been reached. This is usually done by demonstrating that one of the parties has made an offer which the other accepted. 2. The agreement has been...

    Contract, Contract law, Contractual term 8823  Words | 25  Pages

  • Imp Bcom Final Questions

    and state the exceptions to the rule “No Consideration No Contract. 3. Define Acceptance. State the rules relating to Acceptance. 4. “Agreements in restraint of trade are void. What are its exceptions? 5. What is an offer? State the rules of a valid offer. 6. Discuss the provisions of Indian Law relating to the capacity of parties to the contract. 7. Define a contract. Explain the essential of a valid contract. 8. Discuss the legal rules relating to minor’s agreements. ...

    Contract, Contract law, Cost 1014  Words | 4  Pages

  • Ch3 Jigsaw Legal Aspects Of Purchasing 1

    bylaws. Ex.- in most states, real estate contacts must be in writing. 3. Implied Authority- Implied authority is implied by the law at the time the principal grants express authority to the purchasing agent. It gives the purchasing agent the legal authority to carry out the duties for which he or she was appointed. Ex- it the purchasing agent is given the express authority to make a contract, he has the implied authority to negotiate the terms including: quantity, quality, delivery conditions...

    Contract, Contract law, Offer and acceptance 860  Words | 3  Pages

  • Postal Rule of Acceptance

    of Postal Acceptance Rule i. ‘Ad infinitum’ Justification Postal rule had existed almost for 200 years and the post had been creating problems for people which the courts are obliged to solve them logically. Why it had been creating so many problems for people and that we will be discussing later on. For now let’s look at the four main justifications for postal rule of acceptance. It came from Treitel and he believes that the four main justifications are for the creation of postal rule. First of...

    Breach of contract, Contract, Contract law 532  Words | 2  Pages

  • Content of a valid contract

    of a valid contract-explain (P1.1) A contract will be enforceable if it can satisfy some basic conditions. These type conditions are known as elements of essential for a valid contract. Every legal contract satisfies these conditions. Without satisfying these conditions a contract can’t be acceptable. That’s why for the formation of a legal contract satisfying the essential elements is very important. The importance of the essential elements to be a good agreement is described below: Offer and acceptance:...

    Breach of contract, Common law, Consumer Protection 3504  Words | 10  Pages

  • Essentials of a Valid Contract

    ESSENTIALS OF A VALID CONTRACT A valid contract has to have the following essential characteristics: * Proper offer and acceptance An offer to be valid must contain certain conditions such as it must intend to create legal relationship, its terms must be certain and unambiguous, it must be communicated to the person to whom it is being made. An acceptance to be valid must fulfill certain conditions such as it must be communicated by an authorized person before the offer lapses. *...

    Common law, Contract, Contract law 263  Words | 2  Pages

  • Offer and Invitation to Treat

    consensus ad idem in a legal relation. An offer is a necessary element that must present  for a legally binding contract to be in place. An offer and an invitation to treat are two different aspects. An invitation to treat is defined as an action inviting other parties to make an offer to form a contract, whereas an offer is an expression made by offeror to offeree communicating the offeror’s willingness to perform a promise. The distinction is important because accepting an offer creates a binding...

    Advertising, Auction, Contract 1053  Words | 3  Pages

  • Business Agreement and Requirement to Form a Valid Contract:

    Table of content Introduction 5 Content 6 Task 1: 6 1. Business agreement: 6 2. Requirement to form a valid contract: 9 Claim 1: 13 Claim 2: 15 Claim 3: 19 Task 2: Explain the differences among conditions, warranties and innominate terms with examples to illustrate: 22 Task 3: Law on standard form contracts: 24 Claim 4: 29 Conclusion 32 Reference 32 Introduction The knowledge of the law of contract is very importance when doing business. Law of contract is a part of...

    Breach of contract, Consumer Protection, Contract 6185  Words | 17  Pages

  • E-Commerce Offer vs Invitation to Treat

    Q1) Consider the legal status of Web advert and whether it would amount to an offer in law; Q2) If so, consider whether the filling in of the" buy now" form amounted to an acceptance of the offer; Q3) Outline the consumer buyer's rights under the Distance Selling Regulations as they may apply to this sale. In this assignment I must conclude whether the advert from Surjit's website constitutes a lawful offer or an Invitation to Treat. I will test this by comparing the two alternatives and assessing...

    Contract, Contract law, Contractual term 2301  Words | 6  Pages

  • Essentials of a Valid Contract

    ELEMENTS OF A VALID CONTRACT: To be enforceable by law an agreement must possess the essential elements of a valid contract as laid down by Sec.10 of Contract Act in the following terms; ‘All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void.’ Following are the conditions for validity of the contract in detail. 1. Offer and Acceptance: There must...

    Agreement, Contract, Contract law 496  Words | 2  Pages

  • According to Max Weber, Legal Rational Authority Is the Most Rational Type of Authority, Do You Agree with This Statement? Give Reasons for Your Answer

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