reward? Whether Bakar can revoke the offer for reward after the climbers have started climbing the mountain? Law According to s.2(h) of the Contract Act‚ a contract is an agreement enforceable by law. For example‚ offer acceptance. According to s.2(a) and Ho Ah Kim v Paya Trubong Estate‚ proposal is an action that shows willingness to enter into a contract. Invitation to treat is an invitation to make a proposal. According to Coelhor Public Services Commission and Syarikat Gunung Sejahtera V Lim
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1.Offer 1. Offer means a proposal by a person in which he makes his willingness to enter into a legally binding contract for some conside¬ration. 2. An offer is made with the object of getting consent of the offeree. 3. An offer can be accepted by the offeree. 4. An offer when accepted becomes an agreement. Invitation to Offer 1. An Invitation to offer means an intention of a person to invite others with a view to enter into an agreement. 2. An invitation to offer on the other hand is made
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Chapter 7 Critical Thinking Exercise 1. Define the Objective Theory of Contracts. Answer: Objective Theory of Contracts is defined as the parties’ assent is not judged by the subjective intent by each party‚ but by the objective intent that a similarity situated reasonable person would understand the parties to have. 2. On May 1‚ Brand Name Industries‚ Inc. (BNI)‚ sent Carol a letter‚ via overnight delivery‚ offering to employ her to audit BNI’s financial statements for the current year
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Contract between MAANO TECHNICAL SERVICES CC (Builder) Represented by Mr. Herman Lukas And Mr. Joao de Sousa Satata (Client) Represented by Mr. Zenildo Calueto For THE CONSTRUCTION OF AN OUTBUILDING AT ERF 1387‚ MOUNTAIN THORN STREET‚ DORADO PARK‚ WINDHOEK – NAMIBIA. CONTRACT BETWWEN THE OWNER AND THE BUILDER CONTENTS SECTION 1. Articles of Agreement. SECTION 2. General Information. SECTION 3. Standard Conditions of Contract. Section 1 ARTICLES OF AGREEMENT ARTICLES OF
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CONTRACT AND RELATED OBLIGATION Prof. Hillman I) Theories of Obligation A) CONTRACT: Agreement with Consideration – Bargain Theory of Consideration Definition: A promise that is supported by consideration because the promisor gets something (extracts) from the promissee in exchange for the promise. Ex: I tell Alice I will sell her my piano for 400 dollars and she agrees. I promised my piano in exchange for something (400 dollars) therefore my promise is enforceable. 1) Bargained
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Many employers now require that employees‚ as a condition of being hired‚ sign employment contracts that contain non-compete or non-solicitation provisions. A non-compete provision prohibits the employee from starting a business in competition with their current employer (or perhaps also prohibiting the employee from going to work for a close competitor). A non-solicitation provision prohibits the employee from contacting the customers of the employer in hopes of taking their business away from the
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Introduction A contract is defined as an agreement enforceable by law. Hence for all contracts there should have an agreement. The agreement arises by one of the parties making an offer and its acceptance by the other party. Both offer and acceptance create an agreement. In simple contract should first contain an offer made by one party to the other. What is an offer? As per Sec 2(a) of the contract act “When one person signifies to another his
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1. Lakshminarayan Ram Gopal and Son Ltd V. The Government of Hyderabad‚ AIR 1954 SC 364 FACTS: An Agency agreement was entered into between the Mills Company and the appellants appointing the appellants it’s Agents for a period of 30 years. The appellants throughout worked only as the Agents of the Mills Company and for the Fasli years 1351 and 1352 they received their remuneration under the terms of the Agency agreement. Notice was sent to the appellants to pay the amount of tax appertaining to
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Fixed-Price Contract or Cost-Reimbursement Contract Willie Glover BUS 501 February 20‚ 2011 Dr. Nick Nayak Abstract Fixed-price contracts and cost-reimbursements are two different forms of contracts used by the federal government while determining contract pricing. Contracting officers may use either when contracting however there are several types of fixed-price contracts. Fixed-price type of contracts provide for a firm price or an adjustable price. Fixed-price contracts consist of firm-fixed-price
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1. Voidable Contract: An agreement which is enforceable by law at the option of one or more of the parties thereto‚ but not at the option of the other or others‚ is a voidable contract. A contract is voidable when one of the parties to the contract has not exercised his free consent. One of the essential elements of a formation of a contract for example‚ free consent‚ is absent. All voidable contracts are those which are induced by coercion fraud or misrepresentation. The person whose consent is
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