Part 1
The first feature is an offer. This could be conceptualized as a proposal made to a person or entity and could be inclusive of the details of the said engagement i.e. the terms and conditions. The second feature is acceptance. This could be conceptualized as a declaration by the party embracing the offer that he or she is not averse to being bound by the terms highlighted. An offeree can either accept or reject the offer, i.e. depending on its terms and conditions. Acceptance may be done through email, verbal communication, or through mail. The third characteristic is consideration. Consideration is defined as the item of value in the entire engagement, i.e. a property, product, or a service to be exchanged for money. The other feature is capacity. Capacity refers to the capability...
For instance, one may not enter into a contract with an insane person or a child below the age of the majority. The other characteristic is legality. Both parties need to show legal intent or purpose. The other feature is mutual consent. This has got to do with the parties free-willed intention to enter into an arrangement of this nature. Lastly, we have writing in which case some engagements of this nature ought to be put in writing, i.e. under the Statute of Frauds.Part
I am in favor of promissory estoppel and quasi-contracts. For instance, when it comes to promissory estoppel, Turner (2013) points out that a party may recover on the basis of a promise made when the party's reliance on that promise was reasonable, and the party attempting to recover detrimentally relied on the promise (p. 76). This comes in handy as a crucial tool in attempts to avoid an injustice i.e. by averting a scenario whereby strict adherence to contract rules is likely to trigger results that are unfair. On the other hand, a quasi-contract…
References
Turner, C. (2013). Contract law. Routledge.
Contract Law In modern society, contracts have become an integral part of determining who is responsible for performing various actions in an agreement. It spells out the terms, conditions and how each party must behave in order for it to be enforceable under the law. To fully understand the way that this is occurring requires carefully examining key issues, the offer / acceptance / consideration, the different points-of-view and ethical issues.
Law of Contract Contract law As to concerned definition of law there are many definition among various schools of thought of law such that no particular definition is acceptable to them as universal definition of law, but nevertheless there is a common acceptable definition as to what the law is composed of and that it is a collection of rules and regulations governing human conduct prescribed by human beings for the obedience
Contracts Law: Disney World Jurassic Park Amusement Ride The first question at issue in this study has to do with the termination of an employee for poor sales performance who entered into a non-compete agreement with the company, specifically that of Disney. The employee, Simpson agreed that he would not directly or indirectly compete with Disney as an agent, employer, broker, or contractor for one year from the date of termination.
Contracts Law Case Study- Contracts Law There were two offers. There is an offer is a meeting of the minds can be reached by the recipient of the offer accepting the terms of the offer. The first offer was by Galaxy Computer store and consisted of Galaxy placing an ad in the paper for Pentium 4 computers for $3,000. The second offer was by Gabrielle and consisted of her offering a her
Contract law lies at the center of our legal system and serves as the basis of our whole society. Our society relies on free exchange in the marketplace at every stage. Contract law is what makes this probable. Exchanges in the marketplace always rely on voluntary agreements between people. These voluntary agreements would never if there wasn't contract law. Contract law works to make these agreements enforceable, which typically means
However, it must be noted that the doctrine of consideration has changed and therefore seems to have fixed many of its most impractical elements, or at least that is what has been argued. One example of a change is the fact that in regards to consideration, the requirement for a benefit has moved from the requirement to show a legal benefit to simply a practical benefit. Another aspect to the
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