Contract Law
PART I.
Introduction
England's contract law is consisted of several laws and they can not be written or at least explained in a student's assignment, which is consisted of 1000 words. Despite that I will try to outline the main points of the contact law and explain briefly what each means. On the second point I will explain the little difference between the English contact law with the equivalent contract law of my home country which is Cyprus. I wrote "little differences " because, Cyprus is following the English system concerning laws.
The English contract
Offer and Acceptance
General principles
There are three basic essentials to the creation of contract which will be recognised and enforced by the courts. These are: contractual intention, agreement and consideration.
The Definition of Offer.
This is an expression of willingness to contract made with the intention (actual or apparent) that it shall become binding on the offeror as soon as the person to whom it is addressed accepts it.
An offer can be made to one person or a group of persons or to the world at large. The offeror is bound to fulfil the terms of his offer once it is accepted. The offer may be made in writing, by words or conduct.
Unilateral - some offers are purely one sided, made without the offeror's having any idea whether they will ever be taken up and accepted, and thereby be transformed into a contract. For example when an advertisement where a person is rewarding another one if he finds his pet (which was lost). In this case the person who is making such an offer is not sure whether this offer will be ever accepted.
Bilateral - The majority of offers are Bilateral. While it is not always true, most people make an offer to one named offeree or a small group of parties. Most contracts are made with both parties present on a face-to-face basis.
Invitation to treat
An invitation to treat made by one party to another is not an offer. An invitation to treat is made at a preliminary
Introduction
England's contract law is consisted of several laws and they can not be written or at least explained in a student's assignment, which is consisted of 1000 words. Despite that I will try to outline the main points of the contact law and explain briefly what each means. On the second point I will explain the little difference between the English contact law with the equivalent contract law of my home country which is Cyprus. I wrote "little differences " because, Cyprus is following the English system concerning laws.
The English contract
Offer and Acceptance
General principles
There are three basic essentials to the creation of contract which will be recognised and enforced by the courts. These are: contractual intention, agreement and consideration.
The Definition of Offer.
This is an expression of willingness to contract made with the intention (actual or apparent) that it shall become binding on the offeror as soon as the person to whom it is addressed accepts it.
An offer can be made to one person or a group of persons or to the world at large. The offeror is bound to fulfil the terms of his offer once it is accepted. The offer may be made in writing, by words or conduct.
Unilateral - some offers are purely one sided, made without the offeror's having any idea whether they will ever be taken up and accepted, and thereby be transformed into a contract. For example when an advertisement where a person is rewarding another one if he finds his pet (which was lost). In this case the person who is making such an offer is not sure whether this offer will be ever accepted.
Bilateral - The majority of offers are Bilateral. While it is not always true, most people make an offer to one named offeree or a small group of parties. Most contracts are made with both parties present on a face-to-face basis.
Invitation to treat
An invitation to treat made by one party to another is not an offer. An invitation to treat is made at a preliminary