StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Nobody downloaded yet

Law - Formation of Contracts - Essay Example

Summary
However, the agreement was that she was to repay the money with 30 equal instalments starting last November plus interest.
She…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95% of users find it useful
Law - Formation of Contracts
Read Text Preview

Extract of sample "Law - Formation of Contracts"

Download file to see previous pages

She asked Janet if she was willing to sell her car for £3000 which she agreed. Janet told Barbara that she would sell the car to her for £3000 if she paid in cash and asked her to come over the following day to see it which she did. The contract between Barbara and Janet was concluded immediately she expressed acceptance of an offer. The issue where Barbara is changing her mind that she was to revoke her acceptance is impossible since the contract between her and Janet is binding and enforceable before a court of law.

It is immaterial to state that he was revoking the acceptance because she discovered that the car had some problem as stated by his stepfather Roy. 1 A contract which is an agreement between two or more parties which is intended to create legally binding obligations was created between Barbara and Janet on the sale of the second hand car. The word binding is used for there are some contracts which are valid but are not enforceable. For a contract to be binding there must be an intention to create legal relationship between the parties to the contract.

For this case, there was an intention of creating a legal relationship between Janet and Barbara on the sale of the second hand car. Their contract too had fulfilled the essentials of a valid contract which include: that there must be an offer and acceptance; there must be an intention to create legal relations; there must be contractual capacity; the object of the contract was lawful; there was genuine consent and lastly there was a consideration. 2 Acceptance once made cannot be revoked unlike an offer which can be revoked by an express notice before it is accepted.

However, acceptance cannot be revoked in any circumstance by either the offeree or the offeror. The moment a person expresses his acceptance of an offer, that very moment the contract is concluded and it does not matter whether the acceptance is by word of mouth, in writing or sent by post. For

...Download file to see next pages Read More

CHECK THESE SAMPLES OF Law - Formation of Contracts

Contract Law - Effect of Additions and Modifications on Contract

From the ongoing discussions, it is therefore convincible that additions and/or modifications may affect formation of contracts.... Theories for Validity of contracts Apart from the essential elements and terms of a contract determining validity of a contract, four other theories attempt to explain when, where, and how validity is attainable.... In such a case, the formation of a contract remains unaffected by such additions and/or modifications....
8 Pages (2000 words) Essay

Agency Law and Contract Information

To understand fully the situation presented by the author of the following paper "Agency law and Contract Information" it is imperative to begin at the time when Potter, the employer, has fired Aker, the agent who was working for Potter's agency.... Consider in your answer Agency law and the right of third parties.... Although the repossession was against the law, Al did not bother to complain about it since it was the instruction of his principal....
3 Pages (750 words) Essay

The Law of Contract

Indeed, court intervention in contracts was only utilised as a last resort with the absolute contracts doctrine being paramount.... ??… in contracts in which performance depends on the continued existence of a given person or thing, a condition is implied that the impossibility of performance arising from the perishing of the person or thing, shall excuse the performance… because from the nature of the contract ….... Therefore, whilst the doctrine of frustration should not be applied with impunity, it should be viewed as a useful tool in preserving the absolute contracts tool by ensuring that parties are not subjected to onerous contractual conditions beyond their contemplation at the bargaining phase....
13 Pages (3250 words) Essay

Contract Law: The Concepts of Formation of a Valid Contract

This document discusses the concepts of the formation of a valid contract in a case study.... A counteroffer rejects the original offer and its acceptance leads to the formation of a fresh contract made without any regard to the original offer.... his document discusses the concepts of formation of a valid contract in a case study.... The acceptance by any of the related parties would not lead to a formation of contract.... A counter offer rejects the original offer and its acceptance leads to formation of a fresh contract made without any regard to the original offer....
10 Pages (2500 words) Case Study

Advise Adam and Belinda in the Separate Situations in Business Law

This doctrine addresses events that take place after the formation of the contract, which make it impossible to fulfil the contractual obligations.... Such failure to fulfil the obligation should be due to changed circumstances that would make it markedly different from what had been specified at the time of formation of the contract.... Adam cannot use the other machine, as it is being used in other on-going contracts.... This is as per the provisions of section 10(2) of the Sale of Goods Act 1979, which permits repudiation of the contract if there is delay in contracts where time is of the essence....
6 Pages (1500 words) Case Study

Breach of Contract and Remedies

Therefore in consideration of the contracts signed, namely the two contracts signed by Marcus and the other two parties, contract law will play a major role in their determination.... In Australian contract law, not many remedies are offered in situations where parties are found to have breached contracts that remain a wanting situation.... Therefore in consideration of the contracts signed, namely the two contracts signed by Marcus and the other two parties, contract law will play a major role in their determination....
6 Pages (1500 words) Case Study

Why the Government Should Be Fair

The paper "Why the Government Should Be Fair" states that еhe government in many countries in the world makes use of contracts to carry out its work and achieve various policy objectives.... The use of contracts by the government has become more widespread than ever before as the government is increasingly contracting in areas it used to be directly involved.... he government in many countries in the world makes use of contracts to carry out its work and achieve various policy objectives....
13 Pages (3250 words) Essay

Role of Acceptance in Contract Formation, Improvement of the Australian Contract Law

The formation of a legally binding contract requires offer and acceptance.... There is usually no halfway done contracts-the negotiations must crystallize into a binding agreement or they are will not be obligatory at all. ... Unilateral contracts are normally acknowledged by conduct.... nilateral contracts do not often necessitate the acceptance to be conveyed to the offeror.... The paper "Role of Acceptance in Contract formation, Improvement of the Australian Contract Law" is a good example of law coursework....
8 Pages (2000 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.
Contact Us