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Learning about legal aspects of contract practice and procedure - Assignment Example

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Contract is engaged into by the involved parties voluntarily. In a contract, one of the respective parties raises an intention of creating one or more obligations that are legal between them. The main…
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Learning about legal aspects of contract practice and procedure
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Download file to see previous pages In some countries, a valid substitute can satisfy the element attention.
The law can also terminate contracts. The law tends to provide remedies in case of breaching of the promise. The law also recognizes the commitment’s performance as a duty. Existence of duty gives rise to contracts due to the promise that one of the parties makes. For a contract to be legally bound, the promise has to be exchanged so that it may be adequately considered. Mainly, the governance of contracts lies on the hands of common law, state statutory and the private law. Private law primarily concentrates on agreement terms made between the parties involved exchange (Chen-Wishart, 2007).
The case of Barry is tricky since there are no written documents to show that they had entered into a contract with Iva. It is clear and evident that the offer is a key element which provides a definition of the contract’s relevant issues. For an offer to be legally valid, it must be first communicated efficiently. This gives the receiving party the ability to either accept or reject because a contract is only entered into voluntarily. It does not of importance on whether the receiving party reads the contract or not, but he or she has no bearing when it comes to determination of the offer’s clarity. The offer should only provide a clear opportunity to the recipient of rejecting or accepting the contract. However, in case of someone enters into a contract without reading or understanding it, it is for his or her risk (Chen 2007, p 130).
In addition, particular and definite terms must be in place for an offer to be considered valid. The contract’s terms are considered definite when a reasonable person has a capability understanding readily the terms. In the case of Barry, he was given an offer by Iva and clearly understood the terms in that contract. However, review by the courts on whether the terms are definite is usually done with the help of primary elements agreement. ...Download file to see next pagesRead More
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