Nobody downloaded yet

Contract Law Problems - Essay Example

Comments (0) Cite this document
Contract Law Problems The case of Harry v. Watertankz would make for a very interesting case study if it existed in real life because it would call into question the different basis by which a written contract is considered valid. If he were to come to me for legal advice, I would definitely assure him that the contract he entered into with Watertankz is legally binding…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.7% of users find it useful
Contract Law Problems
Read TextPreview

Extract of sample "Contract Law Problems"

Download file to see previous pages ..any laws or regulations directed toward enforcing certain promises. In Australia contract law is primarily regulated by the 'common law', but increasingly statutes are supplementing the common law of contract - particularly in relation to consumer protection. “ (Clarke, 2011). This law was formerly known in legal circles as the Trade Practices Act of 1974 but was officially renamed The Competition and Consumer Act 2010 on January 1, 2011 due to certain amendments that were made that “included a repeal of Part IVA (unconscionable conduct), Part V (Consumer Protection, including s 52), Part VA (Manufacturer's Liability) and Part VC (offences). The substance of the provisions that were contained in those parts is now contained in Schedule 2 of the Act which will be known as the 'Australian Consumer Law' and which, by virtue of enabling state and territory legislation, contains Australia's first nationally consistent consumer law. “ (Clarke, 2011). One must keep in mind that a written contract is legally binding at the time of signing and cannot be altered nor revoked due to certain conditions that became present after the contract has been signed. By signing a contract, it becomes a legally binding promise on the side of both contracting parties to complete an agreed upon obligation. Australian law requires that a certain set of circumstances must be present at the time of the agreement for the written document to become a valid contract. These factors include “ a compromising offer and acceptance, consideration, intention to create legal relations, compliance with any legal formalities and that the parties have the legal capacity to contract. “ (Clarke 2010). The contract that Watertankz entered into with Harry specifically detailed what he had to do as a client in order to make the document that contained their price quote into a legally binding contract. To be specific, their letter of communication clearly indicated that all Harry had to do was “please sign the enclosed terms and conditions of sale document and mail it back to us together with a 10% deposit. The quote is valid until June 30 “. I would then ask Harry to take note of the validity date of the quote that was sent to him, June 30. Under the agreement that was proposed and approved by the company signatories, his rights as their client and their obligation to fulfil the agreement is clearly spelled out. As long as Harry signs the document and gets the document and the check deposit in the mail before June 30, the contract is now legally binding. As such, there are now legal sanctions in place should either party decide to renege on their deal prior to the deadline (Government of South Australia, Contract Law, 2009). Just like any other company in the public service, the price of Watertankz supplies and other pertinent materials may see an increase in cost at any given moment. Which is exactly what happened in the case of Harry. The cost of materials for Watertankz rose sharply on the first day of June, which would definitely cut into their profit margin or post a loss for their company earnings. So, it us understandable that they adjust their prices accordingly. However, the law of contracts clearly indicates that they cannot reject and formal contract bids that they closed within a specific time frame, regardless of the increase in costs for their own company. The law in effect, protects the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Contract Law Problems Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Retrieved from
(Contract Law Problems Essay Example | Topics and Well Written Essays - 1000 Words)
“Contract Law Problems Essay Example | Topics and Well Written Essays - 1000 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Contract Law Problems

Contract law

...Task For a contract to be enforced in a court of law, it must satisfy the essentials of a valid contract. These essentials of avalid contract include, offer, acceptance, consideration, capacity, legality of the subject matter, and the intention to create legal rights. If one or more of these elements is missing on a contract, the courts will be reluctant to enforce such a contract. It is therefore the burden of the party seeking relief in a court of law to prove the existence of these essentials of a valid contract. This is because the courts do not create the terms in a contract, but...
3 Pages(750 words)Coursework

Contract law

...would have been more beneficial to Mr. Robbins than fulifllment of the whole debt. ii. However, it should be noted that payment of a lesser sum cannot be satisfaction of the whole debt simply because it is impossible for a lesser sum to satisfy a greater sum. But Mr. Robbins also received payment in a lesser sum and therefore this cannot be said to have settled the whole debt. It should be noted that the law merely requires that consideration be sufficient and note necessarily adequate. This means that consideration must be something of value (Ollek). The same was reiterated by Jim Riley (2012) in his article Elements of Contract- he stated that parties in a contract must receive...
3 Pages(750 words)Assignment

Contract law

...Contract law Introduction The case Lord Melbray v the Backstreet Boyos and Basil’s Bistro requires a full legal analysis, beforea conclusion is reached, and therefore an advice issued to the aggrieved parties. The legal analysis takes the form of a three-stage analysis, the first stage being to assess whether the agreement between these parties would amount to a legally binding agreement, through evaluating whether all the requirements for a legally binding agreement were met by the parties involved. Secondly, the analysis seeks to evaluate whether there was sufficient basis for either party to rescind the contract, or by the party rescinding the contract, a violation of...
10 Pages(2500 words)Essay

Contract law

...such a contract would be recoverable and any work that has been done maybe compensated on a quantum meruit basis. [61] Care would also have to be taken to ensure the rights f third parties are protected. [62] The use f form as prof f the intention to create legal relations would provide a "useful safeguard against rash promises."[63] Although, "this does not solve the problem f action in reliance on an informal promise... the court maybe able to give some effect to the promise under the doctrine f waiver or in equity."[64] Endnotes [1] Richard Stone, Principles f Contract Law, fourth edn. (Cavendish Publishing, 2000) p46, [2] Ibid,...
6 Pages(1500 words)Essay

Contract Law

...and the plaintiffs must therefore find out on how to overcome such defences. A big draw back to the case is how the courts can deal with certain subjective matter of law. Depending on how they argue the case, it can go either side. For instance there's no set out criteria for deciding whether a particular term is a condition or warranty. But in my opinion, (Paul has a share of blame for the loss suffered by Keith. Bibliography Bardach, E. and R. A. Kagan (1982). Going By the Book: The Problem of Regulatory Unreasonableness. Philadelphia: Temple University Press. Becker, G. S. (1968). Crime and Punishment: An Economic Approach. Journal of Political Bohnet, I., S. Huck and B. S. Frey (1999). More Order...
8 Pages(2000 words)Essay

Contract law

...Contract law The purpose of this essay is to address the legal issues in the case of Churton and Silver with regard to their unpaid loan with Rick It Merchant Bankers, Ltd. For this essay I shall be discussing the legal viewpoints of contract law that surround the circumstances of the case at bar, and will advice Risk It on their legal rights. As the facts of this case state, Churton and Silver contracted with Risk It for a loan with a fixed payable term and interest rates. The first instalment had been adequately paid, but due to financial problems, Churton and Silver foresaw a difficulty in meeting their future loan obligations to...
4 Pages(1000 words)Essay


...Contract Law Human beings live in permanent cooperation and contacts with the fellow beings which involve agreements and contracts of various types. They are general phenomena that take place in most of our lives. In everyday situations, most of the people come to agreements and bonds for one reason or the other. “A contract may be defined as a legally binding agreement… The agreement will create rights and obligations that may be enforced in the courts. The normal method of enforcement is an action for damages for breach of contract, though in some cases the court may order performance by the party in default.”1 According to Sir Frederick Pollock,...
9 Pages(2250 words)Essay

Contract Law

...Contract Law All the three scenarios presented raise the issue of negligence on the part of ASL, although they evoke different aspects. In Alan’s case, the question is whether the tort of negligence can be applied to recover economic losses. In Barbara’s case, the question is whether the terms of the exclusion clause will prevail. In Charles’ case, the question is whether ASL will be held guilty of misrepresentation. As shown in the detailed explanations below, Alan does not have a chance to recover damages from ASL. But Barbara may be able to establish a claim in negligence against ASL for recovery of damages for injuries caused to her, because she is a consumer and ASL had the duty to perform the job...
8 Pages(2000 words)Essay

Business law - Contract problems, FIRAC case, and short summary

...Contract law- Contract problems, FIRAC case, and short summary This paper seeks to explore legal concepts in contract law. The paper will analyze case studies, summarize a case, and discuss concepts of parole evidence rule. Cunningham vs. Driscoll Facts Cunningham and Driscoll entered into a contract of sale of soybeans a total price of $ 22000. Cunningham proceeded to send a purchase confirmation to Driscoll but Driscoll did not respond. Two months later, Driscoll refused to honor the arrangement forcing Cunningham to make alternative purchases at higher prices. Cunningham has sued for breach of contract but Driscoll argues for summary judgment on ground that the contract did not satisfy statute of fraud. Issue The issue... , was entitled...
3 Pages(750 words)Assignment

Discuss the following problems in relation to the Scots law of contract. You must refer to primary sources such as judicial precedent and legislation in your answer

...Contract Law By Due Problem Issue The issue in this problem is whether a legally binding contract has come into existence between Christina and Diane. Rule For the creation of a legally binding contract, the first essential is that there has to be an offer. Once this offer is accepted, an agreement is created. But there are certain essentials as to what constitutes a valid offer. There is a fine line that separates a valid offer from an invitation to treat. An invitation to treat is merely an indication of willingness to trade or begin negotiations. In Fisher v Bell1, a flick knife was displayed in the defendant’s shop. It was placed next...
7 Pages(1750 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Contract Law Problems for FREE!

Contact Us