Corporate Law
[Type the company name] | Corporate and Business Law | Mid Term Assignment | | Gulraiz HamidFarhan SaeedKhurram MustafaQurat ul Ain TariqSidra AsifNaila Naz | To: Mr.Umar Zaka |
A report of Contracts, Social Agreements, and Employment Contract for better concepts as a part of the Mid Term Assignment. |
Contracts
A contract is an agreement entered into voluntarily by two parties or more with the intention of creating a legal obligation, which may have elements in writing, though contracts can be made orally. The remedy for breach of contract can be "damages" or compensation of money.
Example 1
My cousin wanted to go abroad for his job he wanted to sell his bike in market I also need a bike for daily travelling so I asked him for his bike and made a contract with him to sale his bike HONDA CD 70(2010) to me for rupees 40,000 I requested him for the installment of this amount in the form of 10,000 per month. He agreed and hand over (sale) his bike to me with a written stamp paper. And in next 4 months I pay the entire amount due and full fill a valid contract.
It was a valid contract and meting all the fundamentals of a valid contract a view of the fundamentals has been given below with the context of this contract
Offer & acceptance
There must always be a law full offer and an acceptance in this regard for being a contract in the above contract I offered my cousin for the sale of his bike and he accepted. This offer also creating lawful relations and law full offer and acceptance as well.
Oral or written A contract may be in Oral or written form But it is better to be written because it provide the proof if required in the court in this contract the offer was oral but when it turned into a contract a written document in the form of stamp paper has been prepared. If I didn’t full fill the contract my cousin was able to sue against me and he can also prove me guilty for the breach of contract.
Capacity of Parties
Parties must be
A report of Contracts, Social Agreements, and Employment Contract for better concepts as a part of the Mid Term Assignment. |
Contracts
A contract is an agreement entered into voluntarily by two parties or more with the intention of creating a legal obligation, which may have elements in writing, though contracts can be made orally. The remedy for breach of contract can be "damages" or compensation of money.
Example 1
My cousin wanted to go abroad for his job he wanted to sell his bike in market I also need a bike for daily travelling so I asked him for his bike and made a contract with him to sale his bike HONDA CD 70(2010) to me for rupees 40,000 I requested him for the installment of this amount in the form of 10,000 per month. He agreed and hand over (sale) his bike to me with a written stamp paper. And in next 4 months I pay the entire amount due and full fill a valid contract.
It was a valid contract and meting all the fundamentals of a valid contract a view of the fundamentals has been given below with the context of this contract
Offer & acceptance
There must always be a law full offer and an acceptance in this regard for being a contract in the above contract I offered my cousin for the sale of his bike and he accepted. This offer also creating lawful relations and law full offer and acceptance as well.
Oral or written A contract may be in Oral or written form But it is better to be written because it provide the proof if required in the court in this contract the offer was oral but when it turned into a contract a written document in the form of stamp paper has been prepared. If I didn’t full fill the contract my cousin was able to sue against me and he can also prove me guilty for the breach of contract.
Capacity of Parties
Parties must be