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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Business Law: Offer and Acceptance. For a simple contract to be valid one party must make an offer and the other party accept it. An offer is made where a person (the offerer) unequivocally expresses to another (the offeree) his willingness to make a binding agreement on the terms specified by him if they are accepted by the offeree’ (Card 2002). This offer could be made to a specific person‚ in which case it cannot be accepted by anyone other than that individual. On the other hand it could
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BTEC National Business Unit 21: Aspect of contract and business law Assignment 1: The requirements for a valid contract P1: Identify the legal criteria for offer and acceptance in a valid contract. In order for a contract to be legally binding‚ both parties must make an offer and an acceptance of that offer. An offer‚ by law it is generally presumed that in a commercial transaction‚ the contracting parties must have the intention to create a legally binding contract. This means that if they
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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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The Law Governing the Use of Force ASALENE TYSON Strayer University Criminal Law LEG320 Professor Scott Ciocco March 06‚ 2011 Abstract I intend to show how the 19 year old female committed the criminal act of first degree murder and how a 62 year old elderly man committed manslaughter protecting his home. The 19 year old female went out with two male friends who came back to her home and raped her. After thinking about the horrific act that happened to her‚ she decided to invite them
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financial accountability required by healthcare leaders and governing boards. There are governance requirements of the Health Center Program. The governance address and describes what board members can do to achieve their oversight responsibilities‚ including information for the board to receive and review‚ questions for the board to ask‚ and the significance of particular answers on health center operations and viability. The governing board is mandated to oversee the organization’s progress in
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PRINCIPLES GOVERNING CONSCIENCE 1. A certain and true conscience must always be followed Our appropriate faculty that tells us of our moral duties and obligations The voice of God in us leading us to His will and plan 2. The invincibly erroneous conscience must be followed‚ the same as certain conscience which is right Even if erroneous it proposes something good or bad as a moral obligation and will of God; To disobey it is to disobey what is subjectively believed as a moral duty – a
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Contract Law- Offer and Acceptance Enforcement of promises Criteria: 1. Offer and corresponding Acceptance 2. Consideration 3. Intention to create legal relationship 4. Certainty I. Formative elements – will theory of K Offer - an expressionof willingness to contract upon certain terms – binding upon acceptance Requisites: (a) Offer will become binding upon acceptance; and [may be prepared to sell] (b) Nothing further remains to be done If no an offer‚ what
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When doing a business‚ a contract is usually needed. Since a contract is an agreement‚ therefore‚ for a contract to exist‚ the parties must assent to the transaction. Assent usually takes the form of offer and acceptance. An offer is defined by Treitel as "an expression of willingness to contract on certain terms‚ made with the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed"‚ the "offeree". In addition‚ an offer is a statement of the terms
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attempt to identify and explain the four elements of a valid contract‚ explain what the objective theory of contracts is and define and explain how the objective theory of contracts applies to the Unit 3 IP. This paper will also explain why I think the court held that there was not a valid contract in the scenario of the unit 3 IP as well as explain why advertisements are generally considered not to be valid offers. The four elements of a valid contract are: * There must be an agreement in all
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