Business Law - Binding the Contract - Case Study Example

Acceptance of an Offer Institution Date contract Law Introduction Evidently through a definition perception, a contract is an accord which forms rise to requirements that are imposed by law.... In that case, to enter a lawfully binding mutual contract there ought to be an offer and an acceptance.... On the other part of a contract is the acceptance of any given offer.... Nevertheless, in the absence of an offer, acceptance cannot take place at all and so there is no officially binding contract that can be produced....

It shows the evidence of the intention of parties, which are involved in the contract.... EMPLOYMENT AND contract LAW Abstract A contract involves making a promise made in the specified manner which is recognized by the law and it undertakes a legal binding obligation.... The paper examines the various conditions, in which, a contract is formed and it tries to analyse the condition when the contracts cannot be enforced simply because it involves promises....

It is only until the offeree communicates acceptance to the offeror that the contract can become valid.... the contract will be considered valid when writing, registration, and signing has been completed by both parties.... the contract is called an implied contract where the acceptance is not expressed in writing.... In a contract, there should be mutual obligations between the parties coming into an agreement.... The act deals with implied terms and presumptions which reflect commercial expectations in the formed contract....

To make the communication of offer and acceptance more meaningful, the parties in a contract must have agreed upon the subject matter of the contract in the same sense and in the same manner (ibid).... To be specific, an agreement becomes a contract only if it has some distinguished features.... To begin with, in simple term, “a contract is an agreement enforceable at law made between two or more persons by which rights are.... The first and foremost thing essential for the formation of an agreement and then a contract is an offer....

The parties to a contract are bound by the stipulations of the contract and the non-fulfillment of the obligations stipulated in the contract constitutes an actionable breach of contract.... In the case at bar, the contract signed by the parties clearly stipulated that the warrantee is enforceable within three months of purchase or for 5,000 miles which happens first.... The general rule here is that for a contract to be valid, there must be a valid offer, the offer must be accepted, the contract must involve a legal consideration, the parties must have the capacity to enter into a contract and the contract must comply with the formalities of law (Kendrick, 2008)....

In reference to Stone pg 612 therefore, he was aware of the intended changes that the company had in mind at the time the contract was enforced.... In reference to Riley pg 1 the two parties, in this case, did not reach up to a mutual agreement legally they are deemed to have not entered into any type of contract.... For a contract to exist there has to be a mutual agreement in relation to the contractual term and contractual object in place with the main intention....

A contract is made through the invitation of another party to a contract while the party invited into the contract make an offer which is acceptable by the party that sent the offer.... n the process of making a contract, one party has to invite another party to the contract.... In this case study, the contract was actually not bidding since there was no offer, Cassie never used a company's letterhead leave alone a stamp.... In fact, Theo was the one supposed to invite Pat into the contract considering that the premises to be leased belonged to him (Cherednychenko 2006)....

The paper "business law in Oman" is an outstanding example of a law assignment.... The paper "business law in Oman" is an outstanding example of a law assignment.... The paper "business law in Oman" is an outstanding example of a law assignment.... law can be defined as regulation and principles that an applicable authority uses for administering a given community.... Another definition refers to the law as rules or a collection of rules that are prescribed for a particular society by a state....