Without offer and acceptance there can be no contract and so it is essential that the law provides rules to identify what constitutes both an offer and an acceptance. An offer may be defined as a statement of willingness to contract on specified terms made with the intention that‚ if accepted‚ it shall become a binding contract. An offer may be express or implied from conduct. In many cases it is crucial to determine when and where a contract is actually formed and this too needs rules. In the vast
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FORMATION OF A CONTRACT OFFER AND ACCEPTANCE For a contract to be valid‚ firstly there must be an AGREEMENT between the parties i.e. one party must make an OFFER which is UNCONDITIONALLY ACCEPTED by the other. OFFER What is an offer ? An offer is a promise that the person making the offer (known as the offeror) is prepared to be legally bound upon specified terms – he is making a statement of the terms on which he is prepared to be legally bound‚ for example A
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KMART Overview‚ History‚ and Target Audience Cleo Z Garcia IMC 610‚ West Virginia University Author Note Contact Information: czgarcia@mix.wvu.edu Abstract Developing an effective integrated marketing communications plan for Kmart requires an understanding of its history; goals‚ objectives and how it evolved through the years. Researching Kmart’s past can help provide insight to create the media and marketing plan for the future. The plan must be attuned to the needs and wants of their customers
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What are the modes of acceptance recognised under the Contracts Act 1950 (Revised 1974) and common law. Support your answers with reference to decided cases. An acceptance must be communicated for it to be effective and valid. The mental assent of both parties is not required but the external manifestation should exist. The acceptor must dos something in order to notify his acceptance. For example‚ he should communicate his acceptance of the offeror. This can be illustrated
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HAZLI AND SHAHREEN Issues 1) The second customer that would like to buy the vase. 2) He willing to pay RM400 for it. 3) Hazli replied that he would accept RM450. On his journey home‚ Shahreen realized that RM450 is a good price. After that‚ he immediately wrote to Hazli to buy the vase. 4) Whether Hazli‚ the dealer of the vase‚ is accept or not the agreement by Shahreen. Relevant Law In this case‚ the relevant law is the counter offer. At first‚ Shahreen would like to buy it for RM400
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In the given question the issue is whether there is a binding contract between Gerard and Reg. A contract can be defined as a voluntary assumption of obligation .In order to establish a contract there must be an offer followed by an acceptance. In order to see whether the parties have come to an agreement the court would look at the intention of the parties. Intention will be looked at objectively .In applying the objective test the courts consider whether the reasonable person in the other parties’
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POLYTECHNIC OF NAMIBIA SCHOOL OF MANAGEMENT DEPT. OF BUSINESS MANAGEMENT RESEARCH METHODOLOGY (RMA411S) ASSESMENT 1 Student name: Rachel N. Nuukunde Student number: 201030020 Lecturer: Dr. Geoffrey Nambira Due date: 10 March 2012 at 10h00pm Table of contents Pages 1.1 Topic of the study 3
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SEEKING EQUAL RIGHTS Throughout history‚ women have been discriminated against based on a gender-biased belief system. They have had fewer rights and opportunities than men. They have been regarded as weaker‚ limited to roles as wives and mothers‚ and considered intellectually inferior. Educational opportunities have been denied them‚ ownership rights excluded them‚ and voting rights were non-existent until the 19th century as well ("Wic - Women’s International Center"‚ n.d.). Women have never
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Preference share capital Source: Wikipedia.org Preferred stock‚ also called preferred shares (preferred)‚ is a special equity security that has properties of both an equity and a debt instrument and is generally considered a hybrid instrument. These are senior (i.e. higher ranking) to common stock‚ but are subordinate to bonds. Preferred stock usually carries no voting rights‚ but may carry a dividend and may have priority over common stock in the payment of dividends and upon liquidation
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enforceable agreement‚ or a contract‚ can be broken down in to five elements; offer‚ acceptance‚ consideration‚ capacity to contract and intention to create legal relations. In this scenario there doesn’t appear to be an issue with capacity to contract and intention to create legal relations‚ so we can assume that they are both satisfied. The issues concerning this scenario are the concept of an offer‚ acceptance and consideration. When looking at the issues and assessing them‚ the objective view
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