Contract Law - Paper
The existence of contract law is to prevent any sort of illegal behaviour, injustice and to clarify any confusion or misunderstanding amongst the offerror and the offeree. Everybody in this world is an offeree as we all purchase goods and services to meet our personal needs and if our expectations are not met, there is a problem which is why the contract is created for both parties to follow. However, if either of them fails to do so, then they are in breach of contract and the aggrieved party has legal rights that they can try and enforce. A contract is formed when there is an offer or acceptance. In this assignment I have been given a case to resolve and advise the parties whether they are in breach of contract or not. A contract is a promise or set of promises the law will enforce. The scenario I have been given states that Fred placed an advertisement providing his potential buyers with the information given below.
‘Garage sale of law books. Items include the entire set of Weekly Law Reports from 1970 – 1990 to be sold to the first person who is willing to pay £100 for the lot. Sale starts Saturday 11th December at 9am. Address 1, Fairfield Road, Hygate, Telephone Number, Hygate 12345.’
Hence, Peter sets out early on Saturday 11th December to be the first one in the queue and offers £100 to Fred. However, he discovers that Fred has sold the books to Sally who had phoned him to purchase the books as soon as she saw the advertisement.
In order for a contract to arise, there must be an offer and acceptance. An offer is a definite promise to be bound provided certain specific terms are accepted. However, there are two types of offer including unilateral contract which is a contract where one party binds itself to perform a stated promise upon performance of the requested act or condition by the promise. However, the promise gives no commitment to perform the act or condition by the promise and bilateral contract is a promise in exchange for a promise. In
‘Garage sale of law books. Items include the entire set of Weekly Law Reports from 1970 – 1990 to be sold to the first person who is willing to pay £100 for the lot. Sale starts Saturday 11th December at 9am. Address 1, Fairfield Road, Hygate, Telephone Number, Hygate 12345.’
Hence, Peter sets out early on Saturday 11th December to be the first one in the queue and offers £100 to Fred. However, he discovers that Fred has sold the books to Sally who had phoned him to purchase the books as soon as she saw the advertisement.
In order for a contract to arise, there must be an offer and acceptance. An offer is a definite promise to be bound provided certain specific terms are accepted. However, there are two types of offer including unilateral contract which is a contract where one party binds itself to perform a stated promise upon performance of the requested act or condition by the promise. However, the promise gives no commitment to perform the act or condition by the promise and bilateral contract is a promise in exchange for a promise. In