M1: ANALYSE THE IMPACT OF THE REQUIREMENTS FOR A VALID CONTRACT IN THE GIVEN SITUATION Breach of contract in the case of a private sale In the Westshire Times on 2 September there was an advertisement to sell a 1998 Porsche 911 for £21‚000. The advertiser was Jamal‚ giving a contact address. On 7 September Bob wrote to Jamal stating that he was interested in buying the car for £20‚000. On 9 September Jamal wrote back to Bob stating that he could not sell the car for less than £20‚500. On
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Do the courts always rigorously apply the established rules of offer and acceptance governing the formation of contracts? Put bluntly‚ no‚ the courts do not always rigorously apply the established rules of offer and acceptance governing the formation of contracts. Judgments by Lord Denning in Butler Machine Tool Co Ltd v Ex-Cell-O Corporation Ltd (1979) and Gibson v Manchester City Council (1979) have challenged this ‘mirror image’ approach. Nonetheless‚ these are very much exceptions to the general
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There are four elements to a valid contract. 1. At least two separate parties entering into an agreement: The agreement can be between two people‚ or one person and a company or between two companies. 2. The parties are qualified to agree to the terms and conditions in the contract: The parties must be of legal age and have an understanding of what the contract is and details it outlines. 3. Both parties are receiving consideration or value from the agreement: This is most commonly
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UNIT 2: OFFER TUTORIAL SHEET 2 1. What is an offer? 2. Explain the two (2) types of offer? 3. Distinguish between an offer and an invitation to treat. 4. What types of communication do not constitute an offer? 5. Explain each type of communication identified in (4) above. 6. When is an offer effective? 7. Explain the difference between a counter- offer and request for information. 8. Explain whether each of the following is a bilateral offer‚ unilateral offer or not an
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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 used in today’s world as a major part of interaction between individuals or companies and consumers. Contracts are often used within our professional
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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
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cNATIONAL ECONOMICS UNIVERSITY‚ HANOI BTEC HND IN BUSINESS AND MANAGEMENT ASSIGNMENT COVER SHEET | | |NAME OF STUDENT |Pham Thi Thuy Trang | |REGISTRATION NO. |1013103214 | |UNIT TITLE |Common Law
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Genuine Consent For contract to valid ‚ both party must genuinely consent ‚ or agree to the contract 1. Unconscionability 2.Duress 3.Undue Influence 4.Mistake 5.Actionable Misrepresentation * Unconscionaboility ( extremely unfair ): Both pt need to have equal power BUT Only 1 pt has superior bargaining power . The other pt has special disability and pt enter to the one-sided ‚ take it or leave it ‚ unfair -- the court decide the contract was unconscionable ( unfair) ++ Special disability
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Ans: Section 2(h) of the Indian Contract Act‚ 1872 defines a contract as an agreement enforceable by law. Section 2(e) defines agreement as "everypromise and every set of promises forming consideration for each other." Section2(b) defines promise in the word: "When the person to whom the proposal ismade signifies his assent thereto‚ the proposal is said to be accepted. A proposalwhen accepted becomes a promise." From the above definition of promise‚ it is obvious that an agreement
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The four basic elements of a valid contract are agreement‚ consideration‚ contractual capacity‚ lawful object. Objective theory of contracts is intent to enter into a contract. An example of this would be going to a car lot and say I will give you 5‚000 for this use car. This is a valid contract offer. I intend on purchasing the used car if the car lot is willing to sell the car for 5‚000. In the case of Pepsi vs. John Leonard objective theory doesn’t apply. Pepsi wasn’t truly offering the Harriet
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