Breach of Contract and Remedies
Forms of breach of contract and the remedies that can be used.
Table of contents: Introduction Contracts as a whole Forms of breach of contracts Remedies
Introduction:
As long as human kind can remember contracts has been in the existence. Goods were exchanged in order to survive. Therefore a contract can be described as an agreement between two (or more) people where one person offers to do something and another person accepts that offer. So when someone agrees to sell and another agrees to buy or exchange something for it, they have entered into a contract.
Contracts as a whole:
You may ask what the requirements for a contract are. There must be an agreement between people about what each person must do in terms of the contract, so there must be an offer by one person and an acceptance by the other. The offer must be serious and definite. All agreements however are not a contract. The difference between an agreement and a contract is that if it is a contract there is a serious intention to be legally bound between the two parties.
Any person making the contract must have the legal power to enter into the contract. Examples of people who don`t have legal power to enter into contracts are: Children under the age of 7 years, people who is mentally insane and people who are under the influence of alcohol or drugs.
A person cannot enter into a contract if it is impossible to carry out what is in the agreement. Example: someone agrees to sell you a house and you agree to buy that house. But the house gets washed away in a flood before you sign the agreement. So it is impossible for the contract to be enforced because there is no house.
The contract should be legal and not contra bonus mores. In other words, it should not be illegal or go against the morality of society. Example: if a person agrees to hijack a vehicle in return for money, the contract is void. It is not a proper contract.
Forms of breach of contracts:
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Table of contents: Introduction Contracts as a whole Forms of breach of contracts Remedies
Introduction:
As long as human kind can remember contracts has been in the existence. Goods were exchanged in order to survive. Therefore a contract can be described as an agreement between two (or more) people where one person offers to do something and another person accepts that offer. So when someone agrees to sell and another agrees to buy or exchange something for it, they have entered into a contract.
Contracts as a whole:
You may ask what the requirements for a contract are. There must be an agreement between people about what each person must do in terms of the contract, so there must be an offer by one person and an acceptance by the other. The offer must be serious and definite. All agreements however are not a contract. The difference between an agreement and a contract is that if it is a contract there is a serious intention to be legally bound between the two parties.
Any person making the contract must have the legal power to enter into the contract. Examples of people who don`t have legal power to enter into contracts are: Children under the age of 7 years, people who is mentally insane and people who are under the influence of alcohol or drugs.
A person cannot enter into a contract if it is impossible to carry out what is in the agreement. Example: someone agrees to sell you a house and you agree to buy that house. But the house gets washed away in a flood before you sign the agreement. So it is impossible for the contract to be enforced because there is no house.
The contract should be legal and not contra bonus mores. In other words, it should not be illegal or go against the morality of society. Example: if a person agrees to hijack a vehicle in return for money, the contract is void. It is not a proper contract.
Forms of breach of contracts:
It’s