Legal and Regulatory Framework
Legal and Regulatory Framework I. The basis of the contract
From the coupon attached, we can see the specialist terms as follows: 1. Each person should use only one ticket and not use the ticket in conjunction with other coupons 2. The Minimum consumption should be controlled over 100 yuan. 3. The coupon can’t be used in the holidays. 4. The final interpretation is owned by our company.
The standard form contract is a standard document prepared by many large organizations and setting out the terms on which they contract with their customers. The individual must usually take it or leave it: he does not really ‘agree’ to it. For example, a customer has to accept his supply of electricity on the electricity board’s terms; individuals cannot negotiate discounts.
I chose a restaurant coupons. An offer is a restaurant A, while offered is the person consumed in the restaurant. An offer is a definite promise to be bound on specific terms .Acceptance is the unqualified agreement to the terms of the offer. If the consumer use the coupon, he’ll obey all the terms in the contract, especially the specialist terms. The parties must have reached some sort of agreement.
In this case, there are two parties, the restaurant and consumer, who are mentally capable of understanding the nature and effect of the contract. And all of us are not legally restricted protected against making a contract due to absence of capacity or limited capacity.
II．The significance of specialist terms in the contract
Example: “Final interpretation of the business” “Holidays can’t be used”
The significance of the specialist term: "Final interpretation" owned by the business belongs to a typical no-trade clause. The so-called “company reserves the final interpretation” is obviously beneficial to the the interests of one side who made the contract, but deprives the interests of one party who accepted standard form contract. Though a lot of prepaid coupons restrict on
From the coupon attached, we can see the specialist terms as follows: 1. Each person should use only one ticket and not use the ticket in conjunction with other coupons 2. The Minimum consumption should be controlled over 100 yuan. 3. The coupon can’t be used in the holidays. 4. The final interpretation is owned by our company.
The standard form contract is a standard document prepared by many large organizations and setting out the terms on which they contract with their customers. The individual must usually take it or leave it: he does not really ‘agree’ to it. For example, a customer has to accept his supply of electricity on the electricity board’s terms; individuals cannot negotiate discounts.
I chose a restaurant coupons. An offer is a restaurant A, while offered is the person consumed in the restaurant. An offer is a definite promise to be bound on specific terms .Acceptance is the unqualified agreement to the terms of the offer. If the consumer use the coupon, he’ll obey all the terms in the contract, especially the specialist terms. The parties must have reached some sort of agreement.
In this case, there are two parties, the restaurant and consumer, who are mentally capable of understanding the nature and effect of the contract. And all of us are not legally restricted protected against making a contract due to absence of capacity or limited capacity.
II．The significance of specialist terms in the contract
Example: “Final interpretation of the business” “Holidays can’t be used”
The significance of the specialist term: "Final interpretation" owned by the business belongs to a typical no-trade clause. The so-called “company reserves the final interpretation” is obviously beneficial to the the interests of one side who made the contract, but deprives the interests of one party who accepted standard form contract. Though a lot of prepaid coupons restrict on