Contracts - 7101 Words
a meeting of minds between 2 persons whereby one binds himself, with respect to the other, to give something or to render some service (ARTICLE 1305)
Distinguish an ordinary Contract:
a.) from a Contract of marriage
b.) from an obligation
c.) from an imperfect promise
d.) from a pact
e.) from a stipulation
a.) from a Contract of marriage
1. The parties may be 2 or more persons of same or different...
7,101 Words | 26 Pages
Contract - 2571 Words
The Truth in Negotiations Act
Kevin P. Shilley
Truth In Negotiations Act (TINA) was enacted in September 1962. As one might expect from a regulation that has been in existence from fifty years, major revisions have been made in order to reflect the changes in the marketplace as well as address the risk involved for all parties. TINA requires the submission of cost or pricing data for all offerors for a prime contract that is...
2,571 Words | 8 Pages
Contract - 718 Words
MODEL PAPER – CONTRACT 1
Define contract. Explain the essentials of valid contract.
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.
1. Essentials of a valid contract
All agreements are not contracts. Only that agreements which is enforceable at law is a contract. An agreement which is enforceable at law cannot be...
718 Words | 3 Pages
Contract - 2831 Words
Did Amy bound by her promise?
In Amy’s case, have no doubt, Amy is the offeror who provides an offer to Beryl and her family who have accepted it by receive Amy’s money or others. However, there are requirements to form a valid contract other than offer and acceptance, that are, intention to create legal relation and consideration. What is consideration? It can be describe as being something which represent either some benefit to the person making a promise or some detriment to the person to...
2,831 Words | 7 Pages
All Contract Essays
contracts - 20854 Words
Contract Law Notes
Offers to the public at large
What is an offer?
Supply of information
Invitation to treat
a) Advertisements in a catalogue or a curricular
b) Advertisements in newspapers or magazines
c) Advertisements appearing on the internet
d) Display of goods
a) Advertisement of auction
b) Auctions with reserves
c) Auctions without a...
20,854 Words | 108 Pages
contract - 763 Words
agreement: objective test of intention to agree
offer must be matched by other's acceptance
requirement of certainty of agreement
parties have intention to create legal relations
enforce promise: consideration
promise is contained in a deed
promissory estoppel (claimant has relied on defendant's promise)
reliance theory: consistent with the harm principle (prevent harm on others)
763 Words | 3 Pages
Contract - 1602 Words
This advice deals with the issues of consideration and promissory estoppel.
There are numerous definitions of consideration in legal texts, one being “‘A valuable consideration, in the sense of law, may consist either in some right, interest, profit or benefit accruing to the one party or some forbearance, detriment, loss or responsibility, given, suffered or undertaken by the other”.
In relation to Rent a Tents contract with Susie the terms of the contract are that in...
1,602 Words | 5 Pages
Contract - 397 Words
A contract -is a legal agreement that occurs between two or more parties. It can be a written or spoken agreement that can concern employment, sales, or tenancy. Parties or members involved, enter voluntarily into this agreement.
Every contracts involve two persons they are the: Offeror and Offeree. The offeror is the one who offers to enter into a contract and the Offeree is the one to whom the contract is being offered
Elements of a contract: Agreement, Lawful object, consideration and...
397 Words | 2 Pages
Contracts - 554 Words
To: John Doe, Senior Partner
From: Noelle Milburn
Date: August 2, 2010
Re: Angela Woodside vs. Doyle Construction
1. Has Doyle Contractors breached its contract with Angela Woodside? Explain your answer fully.
2. Does Ms. Woodside have to wait until after April 1, 2008 to sue Doyle Contractors for breach of contract? Explain your answer fully.
3. Assuming a breach of contract has or will occur, what remedies does Ms Woodside have after the breach?
4. What defenses might...
554 Words | 2 Pages
Contract - 1261 Words
THIS SALES AGREEMENT (the "Agreement") dated this _____ day of March, 2006
|Brenda’s Widgets of 123 Main Street, Podunk, Iowa |
|OF THE FIRST PART |
|- AND - |
|Jim’s Hardware of 456 First Street, Secondville, Michigan...
1,261 Words | 6 Pages
contract - 2059 Words
Ho Chi Minh City, May 19th, 2014
The Seller: Dalat Agriculture and Forestry JSC, Vietnam
39 Phu Dong Thien Vuong Street, Ward 8, Da Lat City, Lam Dong, Vietnam
Mr. Tran Thanh Sang
The Buyer: Shoei Foods Corporation
Shoei Bldg, 5-7, Akihabara, Taito-ku,Tokyo, Japan
2,059 Words | 9 Pages
Contracts - 3586 Words
TABLE OF CONTENTS
1. Introduction ……………………………………………………………..2
2. Communication, acceptance and Revocation of Proposals……………...3
3. Communication when complete…………………………………………6
4. Acceptance must be absolute……………………………………………11
5. Acceptance by performing conditions, or receiving consideration……..13
Indian Contract Act 1872 is the main source of law regulating contracts in...
3,586 Words | 10 Pages
Contracts - 2144 Words
The question of whether contract law can absorb technological change without the need for distinctive guidelines, presuppositions or similar rules is highly dependent on the effects of the amendments to the Electronic Transactions Act 2000 (NSW) (“ETA”). The impact of the ETA on traditional common law principles varies depending on the level of certainty and predictability available in the circumstances and how the law applies. The suitable amount of consistency is likely to...
2,144 Words | 7 Pages
Contract - 4407 Words
1.0 Contracts and its Elements
1.1 Essentials of a Contract
Contracts form part of our daily life e.g. lease of house, sale/purchase of cars, etc. However, there are elements essential to form a contract. These are:
MacMillan & Stone (2004) described offer as “an expression of willingness to contract on certain terms. It must be made with the intention that it will become binding upon acceptance. There must be no further negotiations or discussions required.” This can...
4,407 Words | 13 Pages
Contracts - 36550 Words
Classification of Contracts (7 – 1.30)
Simple and formal contracts
A formal contract is a written contract (such as a deed). A simple contract can be entirely orally or a combination of oral and written.
Bilateral Contract: exchange of promise – one promise for another (a promisee’s promise in return for the promisor’s promise or vice versa)
o Union Dominions Trust (Commercial) Ltd v Eagle Aircraft Services Ltd  1 All ER 104 at 108, Lord Diplock
36,550 Words | 150 Pages
Contract - 2874 Words
Certainty of terms and intention
If businessmen are often not overly-concerned with the niceties of offer and acceptance it follows that their contracts may not be all-embracing and complete in every respect. The parties may have reached an agreement in principle and then prefer to rely on experience from previous dealings, business practice and goodwill. The law’s overall policy is to uphold bargains wherever possible and although businessmen tend to...
2,874 Words | 8 Pages
Contract - 564 Words
Preliminary negotiations, advertisements, invitations to bid Preliminary negotiations are clearly distinguished from offers because they contain no demonstration of present intent to form contractual relations. No contract is formed when prospective purchasers respond to such terms, as they are merely invitations or requests for an offer. Unless this interpretation is employed, any person in a position similar to a seller who advertises goods in any medium would be liable for numerous contracts...
564 Words | 2 Pages
Contracts - 5190 Words
Stages in the life of a contract:
Characteristics of Contracts: (ROMA)
1. Relativity (Art. 1311)
2. Obligatoriness & Consensuality (Art. 1315)
3. Mutuality (Art. 1308)
4. Autonomy (Art. 1306)
Stipulation pour Autrui - stipulation in favor of a 3rd party.
1. The stipulation must be part, not whole of the contract;
2. the contracting parties must have clearly and deliberately...
5,190 Words | 26 Pages
contracts - 23292 Words
CONTRACT LAW- EXAM NOTES
What is a contract?
An oral or written agreement between two or more parties which is enforceable by law. This agreement ‘will be legally binding if certain criteria are met – briefly, they require that there be an agreement (comprising an offer and acceptance), consideration, intention to create legal relations, compliance with any formalities required by law and that the parties have the legal capacity to contract’1
What is the purpose of contract...
23,292 Words | 82 Pages
CONTRACT - 913 Words
In Trevor’s case his issues derive from the Law of Contract; the formation of such and the external circumstances that effects formation, if these circumstances in fact render it void/voidable, breach of contract and the features of acceptance. Through the appropriate study and application of case law we shall better determine Trevor’s legal position.
A contract denotes an agreement of two parties on the grounds of a set of obligations that must be honoured by both sides. These...
913 Words | 3 Pages
Breach of contract - contract law
Topic 3: Breach in contract
1) Breach of contract:
Spanish Contract Law provides a broad notion of breach of contract for any behavior that
departs from the specified behavior in the contract in any way (time, quality, substance, etc.)
or is not specially justified on legal grounds (actions forbidden by the government are not breaches
since they are justified on a legal ground).
The general benchmark to determine breach is the contract agreed by the parties themselves, and
2,744 Words | 9 Pages
Contract Law- Terms of a Contract
LAW 203 – LAW OF CONRACT 1
STUDENT ID: S120343
LECTURER/TUTOR: MR HUMPHREY MARAU
NUMBER OF WORDS: 2284
Contract law is a body of law that governs oral and written agreements associated with exchange of goods and services, money, and properties. Not only does contract law set out the rules and guidelines of how to form a contract but also teaches us how the parties to a contract are to fulfil it and what may happen when the terms of a contract are not fulfilled.
2,508 Words | 7 Pages
Contract of Service and Contract for Service
Why is it important to distinguish between persons that are employed and self-employed?
How do the relevant bodies approach the problems of distinguishing between the two?
It is important to Employment law to know who is an employee and who is an employer for the purposes of claiming unfair dismissals and statutory redundancy. The Employment Rights Act (ERA) of 1996 defines an employee as “an individual who has entered or works under (or, where the employment has ceased, worked under). The...
2,054 Words | 8 Pages
Contract Cancellation Due to Breach of Contract
Contract Cancellation due to a Breach of Contract
18 May 2007
CERTIFICATE OF AUTHORSHIP: I certify that I am the author. I have cited all sources from which I used data, ideas, or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
2,187 Words | 7 Pages
Business contract - 2484 Words
a) Explain the main characteristics of a consumer contract.
Sale of Goods Act 1979 (SOGA 1979) is amended by Sale and Supply of Goods Act 1994 and the Sale and Supply of Goods to Consumers Regulations 2002
The Contract for Sale of Goods
A contract for the sale of goods is ‘a contract in which the seller transfers, or agrees to transfer, the property in goods to a buyer for a money consideration, called the price’
This contract contains two conditions, Both ‘sale’ and...
2,484 Words | 9 Pages
The Psychological Contract - 2788 Words
Critically evaluate the utility of the psychological contract for understanding the contemporary employment relationship. (2500 Words)
Up until the 1990’s the psychological contract didn’t get a lot of research literature, whereas more recently it has become increasingly popular, and vast in both volume and critique. It is suggested that this blossoming of research is because of fundamental changes in the workplace, commonly referred to as the ‘new deal’ (Sparrow 1999). The...
2,788 Words | 8 Pages
Contract Law - 2561 Words
“The mere existence of the core elements of offer, acceptance, and consideration will not guarantee a legally enforceable contract”. Discuss.
A contract is an agreement which normally consists of an 'offer' and an 'acceptance' and involves the 'meeting of the minds' or consensus between two or more parties with the intention to create a legally enforceable binding contract. Therefore in this essay, the four core elements needed for the formation of a contract such as offer, acceptance,...
2,561 Words | 7 Pages
Qusai Contract - 2339 Words
Analysis of Case Studies
Submitted to: Mr. Atta Ullah
Submitted By: Sunnia Farrukh
Submitted on: January 27, 2012
Fatima Jinnah Women University
Formation of Contract 3
Kinds of Contracts 3
Quasi Contract 4
Salient Features of Quasi Contract: 4
Conditions of Quasi Contract 4
Supply of Quasi Contract 5
Payment by an Interested Person: 5
Liability to pay for Non-Gratuitous Acts 6
Finder of Goods...
2,339 Words | 8 Pages
contract discharge - 1106 Words
Written by Mardi Szantyr
Discharge of a contract refers to the way in which it comes to an end. Contracts can come to an end in the following ways:
1. by performance
2. by agreement
3. by frustration
4. by breach
Each one of these methods of discharge will be considered.
Discharge by performance
The contract comes to an end when both parties perform their contractual obligations. Performance must substantially correspond with what the parties agreed allowing for...
1,106 Words | 4 Pages
Law of Contract - 1736 Words
Felthouse v Bindley
From Wikipedia, the free encyclopedia
Felthouse v Bindley
Court Court of Common Pleas
Citation(s) (1862) 11 Cb (NS) 869;  EWHC CP J35; 142 ER 1037
Transcript(s) Full text of judgment
Judge(s) sitting Willes J, Byles J and Keating J
Felthouse v Bindley (1862) EWHC CP J 35, is the leading English contract law case on the rule that one cannot impose an obligation on another to reject one's offer. This is sometimes misleadingly expressed as a rule that "silence...
1,736 Words | 5 Pages
Breach of Contract - 566 Words
Sale of Goods Act- gives statutory rights as a consumer.
Was the contract with an existin company or one which is starting up??
Was there any limitation clause in their contract??
Breach of contract causes a contact to be discharged. This is when one party performs defectively, differently from the agreement. This can be done by actual breach, when there is no performance, or through anticipatory breach, when they indicate in advance that they will not be performing as agreed.
An offer is...
566 Words | 2 Pages
Contract Law - 1487 Words
By the case of Hughes v Metropolitan Railway Co the doctrine of Promissory Estoppel was establish and the derivation of modern doctrine of it is to be found in the
The doctrine of Promissory Estoppel was first developed but was lost for some time until it was resurrected by Lord Denning in the leading case of Central London Property Trust Ltd v High Trees House Ltd.
There are three exceptions to the rule in Pinnel's case. They are composite agreement, payment of...
1,487 Words | 5 Pages
Contract Analysis - 1164 Words
Marshall and his wife have been introduced into a Sunday school class I am teaching. He is discovering his faith in Christ and has shared in conversation that he owns a small business that could benefit from one of my products. After striking an implied business deal with Marshall, our companies begin to flourish with the recent interest in the benefits of Muscadines. As business continues to flourish, Marshall takes it upon himself to secretly coerce my 17-year-old son into...
1,164 Words | 4 Pages
Discharge of Contract - 849 Words
Area of law for this case is law of contract. Contract is defined of section 2(h) of the Contract Act (CA) as a contract is an agreement entered into voluntarily by two parties or more with the intention of creating a legal obligation, which may have elements in writing, though contracts can be made orally. A contract is a legally enforceable promise or undertaking that something will or will not occur. The word promise can be used as a legal synonym for contract. Although care is...
849 Words | 3 Pages
Valid Contracts - 1291 Words
American Intercontinental University
A contact is a legal binding agreement made between two parties. A contract is only enforceable if both parties involved in the contract have agreed
to give or receive something of value. When going into an agreement or contract it is important to know the type of contract. This paper will explore
the various types of contracts and the meaning of each. Express or implied contracts, unilateral...
1,291 Words | 5 Pages
The Breech of Contract - 637 Words
breech of contract
The Breach Of Contract
Business Law I
Professor Leah Westerman
August 12, 1013
The Breach Of Contract
There are many ways to terminate the obligations of a contract. Most often, parties conclude their contract obligations by performing them. However, sometimes problems arise and parties cannot or will not complete their obligations under the contract. When this occurs, contracts may be terminated by reasons of rescission, breach, or impossibility...
637 Words | 2 Pages
Breaching a Contract - 2479 Words
BREACHING A CONTRACT
First What is a Contract?
A Contract is defined as a binding agreement between two or more persons or parties; Especially; One legally enforceable. When signing a contract the person signing signs the contract, to render services for a certain amount of time or for a certain amount of material, which is labeled a term in the agreement. In every contract there are certain duties and rules that are to be followed and obeyed. When disobeyed or rules are broken then that...
2,479 Words | 6 Pages
law of contract - 11627 Words
DAMAGES – REMEDIES FOR BREACH OF CONTRACT
THE INTERESTS PROTECTED
Fuller and Perdue, “The Reliance Interest in Contract Damages”
There are three principle purposes in awarding contract damages:
restitution interest – object is the prevention of unjust enrichment by the defaulting promisor at the expense of the promisee
reliance interest – object is to put the plaintiff in a good position as he was before the promise was made
expectation interest – object is to put...
11,627 Words | 39 Pages
Contract and Demand - 439 Words
This is a case of a sales firm which operates for 203 days in a year. Each day the firm operates, it generates revenue (profit) of Rs. 10 Lac. At the beginning of the year, the employees’ union confronts the management of the sales firm over wages and the union presents its demand. The management either accepts this, or rejects it and returns the next day with a counteroffer for wage to be paid to the employees. The firm can open and start functioning only after an agreement on wage is reached...
439 Words | 2 Pages
Contract Law - 2339 Words
A contract is formed when one of the parties has to accept an offer made by the other. Here, David places an advertisement in the local newspaper of a reward, £1000 for the safe return of each of his six cats. This shows he is making an offer to all the readers of the Daily Bungle. An offer is defined as follows:
“An offer is a statement of the terms upon which the offeror is prepared to be bound if acceptance is communicated while the offer remains alive1.”
The critical aspect...
2,339 Words | 6 Pages
Law of Contract - 2143 Words
1. Introduction – What is a Contract?
Not all agreements will be contract enforceable in law - social arrangements, for example, or contracts which offend against public decency and public policy and those which involve criminal activity.
‘A contract is an agreement giving rise to obligations which are enforced or recognised by law. The factor which distinguishes contractual from other legal obligations is that they are based on the agreement of the contracting parties.'...
2,143 Words | 9 Pages
Law of Contracts - 7914 Words
9. CAPACITY TO CONTRACT
1. Capacity of Minors
A minor is someone who has not reached the age of majority (18 years in Kenya.) As a general rule, a minor is not bound by any contract made during his minority. There are 3 exceptions to this:
• Contracts for necessaries
• Contacts of educational or employment or training nature
• Certain contracts which are avoidable.
The term necessaries is not restricted to things which are required to maintain a base...
7,914 Words | 26 Pages
Contingent Contracts - 762 Words
Section 1 to 36 of Indian Contract Act 1872
Group-B3 Salil Shivhare (PGPM811_101) Mayank Agrawal (PGPM811_55) Sippy Taneja (PGPM811_72) Vishal M Aigal (PGPM811_87) Subhadeep Das (PGPM811_75)
A 'contingent contract' is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen(Sec 31).
Illustration: A contract to pay B Rs. 10,000 if B’s house is burnt. This is a contingent contract. A...
762 Words | 4 Pages
Warranty and Contracts - 775 Words
Sales of a Corvette
South University Online
February 5, 2011
To: Ms Starz, Senior Partner
Date: February 5, 2011
Re: Mr. deCapo purchase of 1965 Corvette Stingray
Did the “I accept” note scribbled on the napkin mailed to Ms. Daughtery create a binding contract between the two parties over the sale of 1965 Corvette Stingray, even though she has not received the acceptance note yet?
Yes this is a binding contract between the two parties. While this may be an unconventional...
775 Words | 3 Pages
Collateral Contract - 2380 Words
Collateral contract is a concept which has gradually evolved since its inception. However, collateral contract has been applied in a limited fashion in Australia, compared to other jurisdictions.
In this essay, I will argue that collateral contract has outlived it usefulness and currency in legal practice in Australia. To remain current, the broadening of its application is essential.
To support my argument, I will discuss:
The concept of collateral contract;
2,380 Words | 7 Pages
Aspects of Contracts - 2381 Words
.1 Explain the importance of the essential elements required for the formation of a valid contract in the following situations: P1.1
1. Temporary daily wages Worker doing work and following instructions from the supervisor
2. Tenant staying in an apartment
3. Contractor working on project site
4. Customer in an Amusement Park
5. Buyer and Seller of Consumer Product like Body Lotion
Guidelines: You need to specify the essentials of the contract like written terms, verbal, implied...
2,381 Words | 12 Pages
law of contract - 3836 Words
In Malaysia, our contract law is basically governed and enforced by the Contract Act 1950. The remedy of specific performance presupposes the existence of a valid contract between the parties to the controversy. The terms of the contract must be definite and certain. This is significant because equity cannot be expected to enforce either an invalid contract or one that is so vague in its terms that equity cannot determine exactly what it must order each party to perform. It would be unjust for...
3,836 Words | 13 Pages
Contract elements - 379 Words
1. Agreement ok
3.Intention to create legal relations
There must be an intention among the parties that the agreement should be attached by legal consequences and create legal obligations.Agreements of a social or domestic nature do not contemplate legal relations, and as such they do not give rise to a contract. An agreement to dine at a friends house in not an agreement intended to create legal relations and therefore is not a contract. Agreements between husband and...
379 Words | 2 Pages
Law of Contract - 1651 Words
contract but do not appear to be a relevant issue here.
While it is possible for offers to be "made to the world”1, K's advertisement is an
"invitation to treat"2. It cannot be construed as an offer as it shows no intention on K's
part to be bound to its terms, in contrast to the wording of the advertisement in Carlill v
Carbolic Smoke Ba// Co3.
Thus A's letter to K dated 21 April is the first possibility of an offer. However the terms
of this letter are too vague to be construed as an...
1,651 Words | 5 Pages
Contract and Milestone - 310 Words
1) With regards to the deliverables for the arrangement described in the case study, there are a few different deliverables described. The first is the research and development agreement between SolvGen and Careway. The second is the license and distribution agreement between SolvGen and Careway. These agreements are both written, contractually binding arrangements that are within the scope of multiple element arrangements. However, this does not apply to the nonrefundable milestone payments...
310 Words | 1 Page
Contract of Employment - 686 Words
Employer/ Employee Rights & Responsibilities.
On 13 March 2008 Pat Harrison asked Sadia Warsame to write reports on the Contract of Employments. This report will be used to help the readers to gain more Knowledge and Information.
Information was obtained by
2.1 Visiting acas.org.uk .
2.2 Reading a book called Glossary of Employment Terms by Peter Chandler.
2.3 At work from colleuages.
686 Words | 3 Pages
Freedom of Contract - 2175 Words
“Freedom of contract is the bedrock of English private law”
Freedom of contract is defined as the: “Right of an adult to make a legally binding mutual agreement with one or more other persons, without governmental interference as to what type of obligations he or she can take upon himself or herself.” English law has for a while now been known as believing in freedom of contract. This means that the state has not, normally, enforced legislation which has got in the way when it comes to the...
2,175 Words | 7 Pages
Sale Contract - 2589 Words
GENERAL TERMS AND CONDITIONS OF SALE
1. General. 1.1 The sales of our products will be governed by these General Terms and Conditions of Sale, unless an express agreement to the contrary in the offer concerned or in the acceptance of the order and that constitutes the specific terms and conditions thereof. Therefore, any other terms and conditions that have not been expressly accepted by ORBIS TECNOLOGIA ELECTRICA SA (hereinafter the Seller) will be null and void. 1.2 It will be considered that...
2,589 Words | 7 Pages
THE LAW OF CONTRACT - 17101 Words
THE LAW OF CONTRACT IN GHANA
(These notes have mainly been culled from Mrs. Christine Dowuona Hammond’s seminal work on the Law of Contracts.)
Contracts are made by people every day, whether the parties recognise it or not. Each time one spends money on anything – a bus ticket, an airline ticket, a pair of shoes, a meal in a restaurant, laundry services, books, or signs a lease, etc. one concludes a valid and legally binding contract. Contracts may be oral...
17,101 Words | 65 Pages
Contracts Cases - 9781 Words
1. Lakshminarayan Ram Gopal and Son Ltd V. The Government of Hyderabad,
AIR 1954 SC 364
An Agency agreement was entered into between the Mills Company and the appellants appointing the appellants it’s Agents for a period of 30 years. The appellants throughout worked only as the Agents of the Mills Company and for the Fasli years 1351 and 1352 they received their remuneration under the terms of the Agency agreement. Notice was sent to the appellants to pay the amount of tax...
9,781 Words | 24 Pages
Contract Offer - 367 Words
2.1 Definition of Proposal/Offer
Section 2(a) of the Contract Acts 1950 provides that:
“when one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtain the assent of that other to the act or abstinence, he is said to make a proposal”.
Eg: Ali advertised in Malay Mails that he will give a reward of RM100 to anyone who finds his pet. He signified his willingness to do an act, which is to pay a reward, upon certain terms, with a view of...
367 Words | 2 Pages
Types of contract - 1028 Words
What is a contract?
A business contract is a legally binding agreement between two or more parties to do or not to do certain things. For example, a business contract could be for the sale of goods or supply of services at a certain price.
There are many different types of contracts including:
the sale and purchase of a business agreement;
leases of business premises;
leases of plant and equipment; and
The process for creating a contract...
1,028 Words | 4 Pages
Contracts Outline - 7822 Words
Common law majority Rule
UCC Article 1 & 2 (transaction in goods)- usually same as majority common law except in a few areas
Significant minority rules- will be on test and are there to fool you. DO NOT CHOOSE!
34 Contracts MCQ
* 60% Offer and Acceptance (6-8 Qs), Conditions (6-8Qs) and Remedies- UCC and Common law (6-8 Qs)
* 40% - 1-2Qs on the following areas
* 3rd party beneficiaries
* Assignments and delegations
7,822 Words | 26 Pages
Contracts Checklist - 481 Words
1. Was there a legally valid contract (or enforceable promise) formed?
a. Offer and Acceptance
1. Intention to be bound
2. Definiteness of Terms (i.e. lack of indefiniteness)
3. Reasonable Person Standard (Objective Test): Would a reasonable person construe the offer as an offer?
4. Termination of Offers
a. In General
b. Lapse of Time
c. Death or Incapacitation
1. In General
2. Intention to be bound
3. Timeliness: The Mailbox Rule
4. Silence as Acceptance...
481 Words | 4 Pages
pyschological contract - 9644 Words
Journal of Organizational Behavior
J. Organiz. Behav. 24, 537–559 (2003)
Published online in Wiley InterScience (interscience.wiley.com). DOI: 10.1002/job.205
Psychological contract development during
organizational socialization: adaptation to
reality and the role of reciprocity
ANS DE VOS1*, DIRK BUYENS2 AND RENE SCHALK3
Vlerick Leuven Gent Management School, Gent, Belgium
Vlerick Leuven Gent Management School and Ghent University, Faculty of Economics and Business...
9,644 Words | 129 Pages
Learning Contract - 361 Words
Learning Blog 5
How do you feel about learning strategies now?
The learning strategies I planned for this subject worked good for me throughout the semester. The chief responsibility was to be aware of the assignments due date which I missed a few time for the reason of being sick. All the assignments needed methodical research and the parts required to be prepared taking into consideration the in-text referencing.
How are you finding “Self directed learning” generally and in relation to...
361 Words | 2 Pages
contract law2 - 1538 Words
Nur Aini, a highly stressed-rich widow, was enticed into joint a group as a Way of Life (PAWOL) by Alias,the leader of the group. Alias promised Nur Aini that by transferring, all her wealth to him, he would ensure that she is cleansed of all evil and would not be burden with any worldly problems. Believing his words, Nur Aini transferred all her wealth to Alias and stayed together other followers.
Two years after joining the group, Nur Aini realized that she had been tricked into...
1,538 Words | 4 Pages
Legal Contract - 657 Words
Zidisha Microﬁnance Member Legal Contract
This is a legally binding contract between (Applicant Name) ____________________________________________
of Address ____________________________________________________________________________________
and National Identity Number ___________________________ and Zidisha Inc. (Zidisha), a nonproﬁt organization
located at 21900 Muirﬁeld Circle #302, Sterling, Virginia 20164 United States.
I, (Applicant Name)...
657 Words | 3 Pages
Breach of Contract - 873 Words
BREACH OF CONTRACT
1. 2. 3. 4. 5. Default of the debtor (Mora Debitoris) Default of the creditor (Mora Creditoris) Positive malperformance Repudiation Prevention of performance (rendering performance impossible)
Default of the debtor (Mora Debitoris)
Any obligation under a contract has a time limit for its performance, be it an agreed fixed period or in the absence thereof a reasonable period. If the debtor neglects or fails to perform timeously, he/she commits breach of contract. Lawyers...
873 Words | 3 Pages
Contract Pricing - 757 Words
Fixed-Price Contract or Cost-Reimbursement Contract
February 20, 2011
Dr. Nick Nayak
Fixed-price contracts and cost-reimbursements are two different forms of contracts used by the federal government while determining contract pricing. Contracting officers may use either when contracting however there are several types of fixed-price contracts. Fixed-price type of contracts provide for a firm price or an adjustable price. Fixed-price contracts consist of...
757 Words | 3 Pages
The Valid Contract - 2101 Words
A valid contract consists of all essential components which present and the court will enforce as a legally binding promise . One of the elements contract to create a contract is agreement which included an offer and acceptance. “Acceptance is a final and unqualified assent to the terms of the offer, made in the manner specified or indicated by the offeror” . Acceptance may be express orally, in writing, occasionally, or even by implied from the offeree’s conduct. In communication of acceptance,...
2,101 Words | 6 Pages
Contract of Encyclopedias - 475 Words
Contract of the Encyclopedias
Ls311-04 Business Law
Carrie offered to sell a set of legal encyclopedias to Antonio for $300.00. Antonio said that he
would think about her offer and let her know his decision the next day. Norvel, who overheard
the conversation between Carrie and Antonio, said to Carrie, "I accept your offer..” Carrie gave
Norvel the books.
The next day, Antonio,...
475 Words | 2 Pages
Contract Law - 2777 Words
For parties to be bound by an agreement, it must first be determined if a prima facie valid and enforceable contract exists. A contract can be defined as an agreement containing promises made between two or more parties with the intention of creating certain legal rights and obligations and enforceable in a court of law .
For a legally binding contract to exist the following elements must be satisfied:
1. An offer must exist
2. The offer must be...
2,777 Words | 10 Pages
Contract and Invitation - 2876 Words
1. Offer means a proposal by a person in which he makes his willingness to enter into a legally binding contract for some conside¬ration.
2. An offer is made with the object of getting consent of the offeree.
3. An offer can be accepted by the offeree.
4. An offer when accepted becomes an agreement.
Invitation to Offer
1. An Invitation to offer means an intention of a person to invite others with a view to enter into an agreement.
2. An invitation to offer on the other hand is...
2,876 Words | 8 Pages
Agreement and contracts - 1942 Words
A contract is a legally binding agreement or relationship that exists between two or more parties to do, or abstain from performing certain acts. A contract can also be defined as a legally binding exchange of promises between two or more parties that the law will enforce. For a contract to be formed an offer made must be backed with an acceptance of which there must be consideration. Both parties involved must intend to create legal relation on a lawful matter which must be entered into...
1,942 Words | 5 Pages
The Law of Contract - Voidable Contract – Coercion
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...
1,036 Words | 3 Pages
Acceptance of Contract - 426 Words
LS311: Business Law - 01
Professor: Toni Starcher
Assignment 4: Acceptance of Contract
Bottom of Form
Magida Taracena Andonie
In this case scenario we are looping for what makes up a legal contract and when a person is obligated to respect that contract. Carrie Only offered to sell the set of legal encyclopedias to Antonio for $300. Antonio said that he will think about the offer and that he will let...
426 Words | 2 Pages
Contract Law - 1355 Words
Unlike other civil law legal systems, such as the German one and the American one, United Kingdom’s (UK) and Hong Kong’s (HK) do not recognize the approach of general principle of good faith in contract law, as illustrated in Walford v Miles1. Yet, good faith should be promoted in UK and HK because one should value fairness in the whole course of dealing, from the point of pre-contractual negotiations till the discharge of he contracts. This essay aims at showing the merits of a...
1,355 Words | 4 Pages
Contract Negotiation - 1603 Words
Contract Creation and Management Simulation
In the contract creation and management simulation involving Span Systems and Citizen-Schwarz AG (C-S) the conflict involved and possible resolutions could be beneficial or catastrophic for both companies. Legal risks for corporations in the process of implementation and development of a program are many. To prevent this there must be direct, quantifiable benchmarks that are acknowledged by all parties involved. Any contract ambiguity...
1,603 Words | 5 Pages
Defective Contracts - 406 Words
Contract Classification | Basis of Defect | Status of Contract | Legal Effects | Prescriptive Period | Ratifiability |
A.Rescissible1. Contracts entered into in behalf of wards
2. Contracts agreed upon in representation of absentees
3. Contracts undertaken in fraud of creditors
a. existing credit prior to the contract to be rescinded
b. fraud on the part of the debtor
c. creditor cannot recover his credit in any other manner
4. Contracts which refer to things under...
406 Words | 2 Pages
Contracts Reponse - 1095 Words
This is a response of legal recommendation to the contractual dispute between Simon and the Ballista Shire Council. Prima facie, the matter to determine is if Simon may be able to rescind the second contract enforced by the council. The legal issues espoused under this matter include: whether the circumstances of the case amount to economic duress, and if there was substantial consideration offered by the council to form a valid contract. . In order to approach Simon’s...
1,095 Words | 4 Pages
Contract Law - 2681 Words
Business Law Assignment;
Mistake in contract law, is a factual misunderstanding that may lead to a failure of a meeting of the minds. Unilateral mistake is mean that is only one party is mistaken, but the other party knows, or ought reasonably to be aware of the mistake. Contract may be void or voidable. Void is a contract that is no legal effect. While, voidable is an agreement that may be affirmed or rejected at the option of one of the party. The reason why Lord Denning took the view that...
2,681 Words | 8 Pages
Contract Terms - 469 Words
MAANO TECHNICAL SERVICES CC
Represented by Mr. Herman Lukas
Mr. Joao de Sousa Satata
Represented by Mr. Zenildo Calueto
THE CONSTRUCTION OF AN OUTBUILDING AT ERF 1387, MOUNTAIN THORN STREET, DORADO PARK, WINDHOEK – NAMIBIA.
CONTRACT BETWWEN THE OWNER AND THE BUILDER
SECTION 1. Articles of Agreement.
SECTION 2. General Information.
SECTION 3. Standard Conditions of Contract.
ARTICLES OF AGREEMENT
469 Words | 3 Pages
Contract of Law - 1055 Words
Is there a valid contract between Danny and Rahul? Is the contract frustrated? Does Rahul need to pay the fee? Is there a breach of contract? Can Rahul sue Danny?
An offer can be defined in Section 2(a) Contract Act 1950 (here in after referred to as CA 1950) as “When one person signifies to another his willingness to do or abstain from doing, with the view to obtaining the assent of that to the act or abstinence, he is said to make a proposal”. Under the CA 1950 and...
1,055 Words | 3 Pages
Business Contract - 1735 Words
INTERNATIONAL SUPPLY AGREEMENT
This SUPPLY AGREEMENT (herein after the “Contract”) is entered into as of April 30, 2009, by and between the undersigned:
BradiagaKrills Ltd ( hereinafter “ the Seller” or “Bradiaga”), a company organized under the laws of the Russian Federation, whose head office is located at ……………, Murmansk, Russian Federation, represented by Mr. ABC, acting as Chairman of Bradiaga.
ON THE ONE HAND
Blizzard Ltd (herein after “the Buyer” or...
1,735 Words | 6 Pages
Valid Contract - 810 Words
Essential features of a valid contract
Contracts come in all shapes and sizes. Some are verbal, some are written. Some are formal, some informal. The use of the internet and electronic technology is also becoming increasingly common in the context of forming contractual relationships.
It is, therefore, important to understand the essential features which make a contract valid, binding, and enforceable.
What is a contract?
A contract is an agreement between two or more parties that is...
810 Words | 3 Pages
Breach of Contract - 1039 Words
In order for Buyer to sue Seller for breach of contract regarding the bees and hives, Buyer must establish that there was a valid contract. To establish breach of contract, Buyer must show there was an offer and acceptance supported by consideration.
One in which there are mutual promises between two parties to the contract, each party is both a promisor and a promise. Right and duty on each side, in which a promise is established on both sides.
UCC or Common Law...
1,039 Words | 4 Pages
Sales Contract - 921 Words
THIS SALES AGREEMENT (the “Agreement”) dated this 10th day of October, 2012. BETWEEN: Jim Doe of 456 First St., Secondville, Michigan (the “Purchaser”) OF THE FIRST PART
AND Brenda’s Widgets Inc. of 123 Main St., Podunk, Iowa (the “Seller”) OF THE SECOND PART
IN CONSIDERATION OF THE COVENANTS and agreements contained in this Sale Agreement, the parties to this Agreement agree as follows:
Sale of Goods 1. The Seller will sell, transfer, and deliver to the Purchaser the...
921 Words | 3 Pages
Contract Performance - 1261 Words
BUS 501 Government Acquisition
Instructor: Dr. Vic Villarreal
Summarize the report, with particular attention to the issue of contract performance.
I chose the report with a Lancer Clothing Corporation protest alleging “Workroom for designers does not have a commitment for the lining material supplier who is reputable, and that it lacks sufficient production capacity. Lancer also alleges that the...
1,261 Words | 4 Pages
Illegal Contracts - 2458 Words
Illegal Contractual Terms and Restraints of Trade in Contracts
When dealing with contract law, many problems can arise. There can be illegal terms in the contract or it can just be void. There are restraints on trade which include limiting employees from competing against their employers post employment and so on. Throughout this essay, these restrictions will be analyzed. The difference between illegalities, voids and restraints will be presented, along with cases to provide examples....
2,458 Words | 7 Pages
Law on Contracts - 997 Words
OUTLINE OF LECTURE IN LAW ON CONTRACTS
1. Defective contracts
a. Rescissible contract – valid until rescinded;
b. Voidable contract – valid until annulled;
c. Unenforceable contract – cannot be sued upon or enforced unless ratified;
d. Void contract – no effect at all, cannot be ratified or validated
Rescission is the remedy granted by law to the contracting parties and sometimes even to third persons in order to recover...
997 Words | 5 Pages
Contract and Agreement - 3312 Words
NATURE AND CLASSES OF CONTRACTS
A. NATURE OF CONTRACTS
1. DEFINITION OF A CONTRACT
general rule. A contract is a legally binding agreement. Stated another way, "a contract is a promise or a set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty." (Restatement, Contracts, 2d)
study hint. The essence of a contract is that (1) by mutual agreement (2) parties create...
3,312 Words | 12 Pages
Contract Disputes - 1248 Words
Vanessa Bray Lee
December 9, 2011
Dr. William Hadyn Roberts
“CONTRACT DISPUTES REACH 15-YEAR HIGH”, was the heading of an article published, December 1, 2010 in the Government Executive. The heading in itself tells us that the government is doing more and more business by contract and as a result contractors who are lobbying for government business have become more aware of their rights to file disputes when it involves a loss of...
1,248 Words | 4 Pages
Contract Negligence - 3871 Words
1 Task – 1
1.1 Importance of Essential Elements of Contract
Contract represents the instrument to enforce promises. Not all statements amount to enforceable promises or contracts. To enforce statements there are a number of elements which courts look for and these mainly include the presence of offer, its communication, its unconditional acceptance and communication of the acceptance. Once this has taken place then the element of consideration gives the badge of enforceability to the contract...
3,871 Words | 11 Pages
What Is Contract - 15714 Words
What is Contract? Discuss Essentials of Contact.
According to Section 2 (h) of the Indian Contact Act, 1872, "A contract is “an agreement enforceable by law”. A contract therefore, is an agreement the object of which is to create a legal obligation i.e., a duty enforceable by law.
From the above definition, we find that a contract essentially consists of two elements: (1) An agreement and (2) Legal obligation i.e., a duty enforceable by law.
As per section 2 (e) "Every promise and every set...
15,714 Words | 39 Pages
Aspec of Contract - 3070 Words
ESSEX INTERNATIONAL COLLEGE
Programme: Unit Number: Unit Title: Unit Code: Credit Value: QCF Level:
BTEC Higher National Diploma (HND) in Business 05 Aspects of Contract and Negligence for Business Y/601/0563 15 4
Writer of the brief: Internal Verifier name:
Mr Alfred Dr. Keith
Learning outcomes and criteria covered by this assignment: All pass criteria All merit descriptors All distinction descriptors
Key dates: Assignment distribution date to learners:...
3,070 Words | 11 Pages
Construction Contract - 3895 Words
TABLE OF CONTENTS
| | PAGE |
1.0 | Is it possible for one standard form of construction contract to meet the need of every project? Discuss by reference to at least two forms in common use in industry. | 2 |
1.0 | What is a Construction Contract? | 2 |
1.1 | Why use a standard form of contract? | 3 |
2.0 | Different forms of contract | 3 |
| 2.1 PWD (Public Works Department) FORM OF AGREEMENT | 4 |
| 2.2 FIDIC | 4 |
3.0 | Main differences between both forms of...
3,895 Words | 11 Pages
Music Contract - 911 Words
This contract, entered into on the ____ of _________, 2012, is for the professional recording of ‘Projects’ represented by Samantha (client) for the recording session described below.
The undersigned employer (S.N.E.) and the undersigned client agree on the contract as follows:
Client agrees to be personally and individually liable for the terms of this contract.
S.N.E hereby engages and employs musicians for exclusive personal services, providing them with a wide...
911 Words | 5 Pages
Breach of Contract - 394 Words
Breach of Contract:
1. How the contract was allegedly breached,
2. What defenses may be available to the defendant, and
3. What remedy (or remedies) may be available to the Plaintiff.
Charlize Theron has settled the $20 million breach of contract lawsuit against her, according to papers filed in Manhattan Federal Court Monday. The suit was filed last year, when Swiss watchmaker Raymond Weil claimed that Theron had worn a Christian Dior watch during a press event in 2006, despite being...
394 Words | 2 Pages
Minors and Contracts - 364 Words
• Do minors have the right to return items that they have purchased and get their money back, regardless of a store’s stated/printed return policy?
• Why or why not? Be sure to support your answer.
• Does it make a difference if the minor makes a purchase by signing a written contract?
A minor or other incompetent party who makes a purchase is essentially entering into a contract with the seller and technically and legally speaking does have the right to return the purchased item based on...
364 Words | 2 Pages
Contract Law - 938 Words
BUSN150-1205A-03 Legal and Ethical Environment of Business
An express contract is created with words either written or spoken. This also implies that all of the parties involved are aware and agree that a contract is being entered into. An example of an express contract would be one person offering to sell an item they own to another party for a set price, the other party agrees verbally and they shake hands on the deal. This is an express contract and is enforceable by...
938 Words | 3 Pages
International Contract - 2397 Words
The international contract is a contract that has a foreign element, that is to say that the contract is in contact with one or more order (s) legal (s) abroad (s). Specifically, the foreign element may be resident abroad, a party to the contract, nationality, place of contract conclusion, and many other possibilities.
The commercial contract is a contract for a commercial transaction or a contract made by a trader for the purposes of his trade.
Therefore an international commercial contract...
2,397 Words | 8 Pages
Obligation and Contracts - 674 Words
Colegio de San Juan de Letran
College of Business Administration and Accountancy
First Semester, School Year 2007-2008
|I. |Course Code |: |LAW 1 |
|II. |Course Title |: |OBLIGATION AND CONTRACTS...
674 Words | 7 Pages
Contract Scenario - 998 Words
Business Law 575
December 2, 2013
Professor Thomas Kershaw
Recently, Danny Davidson sold a family home to his friends Paul and Priscilla Peterson whereby entering into a $250,000 verbal agreement for the purchase of new home. However, Danny neglected to tell Paul and Priscilla about Ned the neighbor and the emerging dispute pertaining to the boundaries of the south property. Once the purchase was final the Petersons proceeded...
998 Words | 4 Pages
Contract Law - 1349 Words
In Business, contracts can be considered as the heart of dealings and have to be taken with utter most consideration of the acceptance, however in order to understand in depth a binding agreement, we must first discuss, what determines a contract or binding agreement. These can be defined as “an agreement which the law will enforce” as well as a “promise or set of promises which the court will enforce”. To facilitate a binding agreement, an acceptance must occur and must be absolutely...
1,349 Words | 4 Pages