In this essay‚ I am going to analyse the rules of offer and acceptance and then come to a conclusion as to how satisfactory I think each of them are and why. In its general sense‚ an offer is an indication or proposal by one person or party (offeror) to another (offeree). It consists of one party promising to do or give something for the other party’s promise to do or give something in return. There must be willingness to contract on certain terms‚ made with the intention that it shall become
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of Postal Acceptance Rule i. ‘Ad infinitum’ Justification Postal rule had existed almost for 200 years and the post had been creating problems for people which the courts are obliged to solve them logically. Why it had been creating so many problems for people and that we will be discussing later on. For now let’s look at the four main justifications for postal rule of acceptance. It came from Treitel and he believes that the four main justifications are for the creation of postal rule. First of
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Introduction: Rules of Offer and Acceptance are applied to enforce an agreement by the law. This agreement is the first requisite of any contract of the business. In order to a contract come into being between parties‚ the offer is made by the offeror and the oferee accept that offer. In 21st century‚ there are rapid changes in business trend which create lots of new business model such as e-business and global business. The more business participates‚ the more requirements of Offer and Acceptance Rules to
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examples‚ explain how an agreement recognized by the law of contract Law of contract is body of legal rules governing the conclusion and consequences of contract. Contract is an agreement based on consensus between legal subjects with contractual capacity. Which is legal‚ physically possible and complies with the prescribed formalities and which is reached with the intension of creating a legal obligation with resultant rights and duties? 1. Consideration It’s the price paid by one party
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Assignment 1 – Understanding the legal requirements for a valid contract The essential elements for a contract‚ who apply in all cases‚ are: 1. Offer- made by offeror to the offeree ‚ it is very important to distinguish this from invitation to treat ( which invites offers to be made) 2. Acceptance – Offeree accepts the offer that has been made. Rolls Royce Car 3. Consideration- Something of value passes between the two parties e.g.: A
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1.1 1. Explain the difference between a legal and non-legal rule A legal rule is a rule created by the government of Australia and applies to the entire population‚ while a non-legal rule is created by an individual or organisation and only applies to a specific group. 2. Rules are applied in each of the circumstances listed below. Sort them into legal and non-legal Legal rules Non-legal rules Having to wait until you are 18 years old before you can vote at a federal election Wearing school uniform
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Legal rules as to consideration: 1) Consideration must move at the desire of the promisor: the act done or loss suffered by the promise must have been done or suffered at the desire or request of the promisor. The act done at the desire of a third party or without the desire of the promisor cannot be a good consideration. It is not necessary that the promisor himself should be benefited by the acts of the promise. The benefit may be intended for a third party. But the desire or request
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the established rules of offer and acceptance governing the formation of contracts? Put bluntly‚ no‚ the courts do not always rigorously apply the established rules of offer and acceptance governing the formation of contracts. Judgments by Lord Denning in Butler Machine Tool Co Ltd v Ex-Cell-O Corporation Ltd (1979) and Gibson v Manchester City Council (1979) have challenged this ‘mirror image’ approach. Nonetheless‚ these are very much exceptions to the general principle governing the formation
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the general rule about acceptance by silence ZHANG Li Introduction Professor McKendrick in his book writes ‘The general rule is that silence does not amount to an acceptance and this is a good one’. He then gives the reasoning by the sale of unsolicited goods. I agree with this rule and the reasoning given by Professor McKendrick. But I think the reasoning mentioned above is just one situation in the general rule that the
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Valid Contracts Victoria Glaser American Intercontinental University Abstract A contact is a legal binding agreement made between two parties. A contract is only enforceable if both parties involved in the contract have agreed to give or receive something of value. When going into an agreement or contract it is important to know the type of contract. This paper will explore the various types of contracts and the meaning of each. Express or implied contracts‚ unilateral
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