Contract is an agreement between two or more competent parties in which an offer is made and accepted, and each party benefits. No contract can come into being unless the following features exist: an actual offer, an acceptance, consideration (this means that each party will contribute something of a material value to the bargain) and an intention to create legal relations. The agreement can be formal, informal, written, or just plain understood. (a) For a contract to exist the offer must be made and then accepted. An offer may be defined as a statement of the terms put forward as the basis of the bargain which carries with it a promise, express or implied, to adhere to the terms. A legally binding offer will include clearly stated …show more content…
Counter-offer has an effect of canceling the original offer and so the original offeror can decide whether to sell it to somebody else at the price he has stated and the terms of the original offer. To conclude it can be stated that Bernard’s letter was not a mere enquiry of negotiation, but a counter-offer, which Anton didn’t accept. Therefore there was no contract between Anton and Bernard and Anton was free to sell the boat to Celine. However from the other point of view, it can be argued that Bernard’s phrase that he is willing to accept Anton’s offer identifies that he is just asking some further information and tests out whether further negotiation with Anton is possible. This means that the original offer was not destroyed, but due to the fact that his reply was vague it can be considered not enforceable, as offerees should explain them clearly as well as the offerors. Therefore no contract took place in this situation. (b) In this scenario Bernard replied by return of post, and accepted Anton’s original offer. Usually, communication is effective only when it reaches the offeror or the offeror’s place of business. However, Postal rule is a well-known legal principle in contract law. The postal rule of acceptance of an offer became entrenched in the common law of contact in the English courts and therefore in the Australia courts during the nineteenth century. And the postal rule is an exception to the general rules of contract law in common
A contract is an agreement that creates an obligation that is enforceable by the law. The law has clear guidelines that before there exists a contract that will be binding, there has to be an offer, acceptance, mutual obligation and all parties should be of sound mind and by law be of legal age. A contract can either be written or spoken. Assuming that the buyers were at the required age went to the car dealership looking to purchase a new car.
An offer allows the person or business to whom the offer is made to, to reasonably expect that the offering party is willing to be bound by the offer based on the terms proposed thus these terms of an offer must be define as well as certain.
The make-up of the Essex may not have seemed important during that dreadful voyage; after all, how could a difference among men affect the fact that a whale had stove the Essex? In actuality it is the composition of those whalers that had everything to do with the outcome of their voyage. These differences include social status, race, rank, and personality differences. Social status in Nantucket was mainly based on if someone was born and raised a Nantucketer, an orphan, outsider or worse a slave. Nantucket was not a racist location; however there was still a disadvantage for African Americans when it came to the whaling world. Along with that came the struggle of command between the Captain and his Shipmates. His struggle of authority ultimately
D) an unconditional offer by a contracting party to perform his or her obligations under a contract
Offer – to form a contract there must be an offer by one party. It is a definite and clear statement of willingness to be bound on stated terms without further consultations. Offer can be in written or oral form but it is not effective if it is not being communicated to the offeree.
A contract is a promise between two or more parties that the law recognizes as binding by providing a remedy in the event of breach. In order for a promise to be enforceable it must be supported by consideration. Consideration can be defined as a bargained for exchange between the promisor and promisee; a promise can not be considered a contract without consideration. Common law states also require mutual assent to exist for a contract to be enforceable, this means that there must be an offer and an acceptance of said offer. For example, if a promise is made between two consenting people and one of those
A contract is an agreement that creates obligations that are enforceable by the law. A contract can either be written or spoken. There are elements to a contract that make it valid and binding. This is defined as a clear manifestation of willingness to enter an agreement made by another person with full understanding that their assent to the bargain is an invitation and is concluded. As to whether there was an offer in this case, yes there is an offer. When the salesman offered the buyers time for a test drive and they finally chose and agreed to buy the blue car it was a clear offer.
Nature and nurture both play a significant role in language development. Language development refers to how children understand, organise, speak and use words in order to communicate at an effective, age-appropriate level (Karen Kearns, 2013, P.105). For centuries, theorists have been debating the roles of nature versus nurture. Although, each child’s language will develop at their own pace and there will be many individual differences based on culture, ethnicity, health and ability. As well as physical, social, emotional and cognitive development in which will contribute to a child’s language development.
An offer is an expression of willingness by one party to contract on certain terms with another party with the understanding that the contract will become binding when accepted by the person to whom it is offered. An offer may be made in different ways, such as in a letter, an email, or even your behavior, so long as it conveys the basis on which the offering party is willing to contract. An offer should consist of: (1) a statement of present intent by the offering party to enter into a contract; (2) a specific proposal that is certain in its terms; and (3) a communication that identifies the person to whom the offer is made. If any of these elements are not present, an offer has not been made. (Walker, C. B., 2012)
In 1920 when alcohol prohibition began the war against cannabis had been going strong for a decade. In 1910 the Mexican Revolution created a surplus of Mexican immigrants in the United States; American citizens were frightened by the Mexican culture, including their recreational use of cannabis (Marijuana Legalization, 2015, para 7). Politicians continued to use fear and racism to grow disapproval and hatred of cannabis. Beginning in 1915 twenty-nine states passed the anti-marijuana law, which was first created and passed by the state of Utah when a group of Mormons who were visiting Mexico returned home with cannabis (Marijuana Legalization, 2015, para 9). The prohibition of cannabis
Contractual agreement has always been viewed in terms of offer and acceptance. The universal principle to contract law has always been parties may get into an agreement in whichever way they deem fit and they are subject to certain terms as they choose. As far as legal requirements vital to their formation are binding contracts may be formed. Moreover a binding agreement may be manifested in terms of writing or in verbal form.
for it to qualify as a proper contract in the eyes of the law: offer
The next step in contracting an agreement is to either accept the offer being put on the table or if the party does not agree then they enter a counteroffer. A counteroffer, is considered a non acceptance but, instead a response to an offer that modifies the original offer. Then the original offering party has the choice to accept, counteroffer back, or deny the offer which would mean the contract would be no more. If the offer is accepted, then the next step will be mutuality.
There is consideration present here since according to the Doctrine of Consideration, ' promises will legally enforceable if you ask for something in return for ' something else. Here, Ken asks for £12,000 in return for his work to build Jack 's conservatory. Therefore, when Jack accordingly contacts Ken to say that he will be employing him to do the building work, ' Jack has accepted Ken 's offer, and both parties have entered into a legally binding contract. Jack 's statement qualifies as an acceptance since there is correspondence between the two parties, whereby both the offer and acceptance are on the same terms; there is nexus, where the acceptance is in response to the offer; and finally, there is communication on both parts. Moreover, when Jack states that he will accept the most competitive ' tender, he could argue that the recommendation from Barnie, ' his neighbour ' who expresses that Ken is an excellent builder ' constitutes Jack 's meaning of the most competitive. ' However, this is not relevant unless Bob wishes to argue in court that Jack 's proposal was indeed an invitation to tender, which constitutes an offer, as according to Harvela.
Terms are the things that make up the contract. They are the actions and inactions that the parties agree upon with each other. Without the terms there is no contract. They are divided into a few parts, there is express terms and implied terms.