Contract law serves as your protection in every legal agreement you make in life. Contract law makes these agreements "enforceable"‚ which usually means that it gives the party the power to compensate and obtain money damages caused by the other party due to a breach of contract. The contract itself creates an obligation or duties to do and rules to follow by both parties if either of the party fails to follow the agreement‚ remedies can be provided by law if the contract is legal and has the essential
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Formation of Contract 2 Offer ............................................................................................................... 2 Acceptance ................................................................................................... 4 Certainty ........................................................................................................5 Consideration ............................................................................................... 6
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CONTRACT & AGENCY LAW END-OF-COURSE ASSESSMENT JULY 2012 PRESENTATION Submission Date : 08 Sept 2012 Question 1: Legal issues: As there are different parts to “Clause 8” in the employment contract which Julia as an employee has signed with Calypso Private Limited‚ we shall examine four separate legal issues. The first legal issue is whether Calypso is able to enforce part (a) of Clause 8 which states that Julia shall not be directly or indirectly
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elements of a contract. Consideration is something of value in a contract or agreement between two parties. Both parties must be providing something of value to the other party. It is an act or promise to do (or not to do) something in return for value and the value given is enforceable. All the law need is ‘valuable consideration ’. For example‚ if Jack has offered to pay S$10 for a hammer worth S$100‚ that is considered valuable consideration. There are three types of consideration in law: executory
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The Law of Contract Voidable Contract – Coercion The word “contract” can be defined as a voluntary‚ deliberate‚ and legally binding agreement between two or more competent parties. Contracts are usually written but may be spoken or implied‚ and generally have to do with employment‚ sale or lease‚ or tenancy. A contractual relationship is evidenced by an offer‚ acceptance of the offer‚ intention to create legal relations‚ consideration‚ certainty and capacity. However‚ while all parties may expect
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2nd of feb CASES MALLIK V BCC: Malik and Mahmud v Bank of Credit and Commerce International SA [1997] UKHL 23 is a leading English contract law and UK labour law case‚ which confirmed the existence of the implied term of mutual trust and confidence in all contracts of employment. Facts: Mr Malik and Mr Mahmud both worked for the Bank of Credit and Commerce International. BCCI went insolvent due to massive fraud‚ connection with terrorists‚ money-laundering‚ extortion and a raft of other criminal
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different laws 5 PRIVITY AND THE LAW OF AGENCY 5 Privity and Agency by Estoppels or Holding out 6 Privity when Sub-agents or Substitute agents are appointed 6 PRIVITY AND THE LAW OF PARTNERSHIP 7 Privity and the act of civil and criminal liability of partners 8 Privity and the liability for holding out 8 PRIVITY AND THE LAW ON SALES OF GOODS 9 Contracts Concerning Land 10 PRIVITY AND THE LAW ON HIRE PURCHASE 10 QUESTION 2 11 Analysis of the case to establish formation of contract 12 Was
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Contract Law Cases The Offer Meeting of minds: Clarke v Earl of Dunraven and Mount Earl: Yacht races. Letters sent in Communication (in writing‚ speech and conduct): Carlil v Carbolic Smoke Ball Co: pay back 100 if you get influenza. Deposit 1000 The Acceptance: Strictly in response to
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Elements of the law of contract Catharine MacMillan Richard Stone 2009 LLB 2650040 Diploma in Law 2690040 page 2 This subject guide was prepared for the University of London External System by: University of London External System Catharine MacMillan BA (Victoria) ‚ LLB (Queen’s‚ Canada)‚ LLM (Cantab)‚ Lecturer in Law‚ School of Law‚ Queen Mary‚ University of London and Richard Stone LLB (Soton)‚ LLM (Hull)‚ Barrister‚ Professor and Head of Law‚ Lincoln Law School‚ University of
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there is binding contract between the two parties‚ Baldcure Ltd. and Gary Knudenut‚ and consequently whether Gary can sue under that contract. Rule A contract is a legally enforceable agreement between two or more parties. To be valid‚ a contract must comprise of the following elements: - agreement (offer + acceptance) - intention - consideration - capacity to contract - consent - legality In order to establish whether there is a binding contract between Gary and
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