FORMATION OF A CONTRACT OFFER AND ACCEPTANCE For a contract to be valid‚ firstly there must be an AGREEMENT between the parties i.e. one party must make an OFFER which is UNCONDITIONALLY ACCEPTED by the other. OFFER What is an offer ? An offer is a promise that the person making the offer (known as the offeror) is prepared to be legally bound upon specified terms – he is making a statement of the terms on which he is prepared to be legally bound‚ for example A
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A legally enforceable agreement‚ or a contract‚ can be broken down in to five elements; offer‚ acceptance‚ consideration‚ capacity to contract and intention to create legal relations. In this scenario there doesn’t appear to be an issue with capacity to contract and intention to create legal relations‚ so we can assume that they are both satisfied. The issues concerning this scenario are the concept of an offer‚ acceptance and consideration. When looking at the issues and assessing them‚ the objective
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In the given question the issue is whether there is a binding contract between Gerard and Reg. A contract can be defined as a voluntary assumption of obligation .In order to establish a contract there must be an offer followed by an acceptance. In order to see whether the parties have come to an agreement the court would look at the intention of the parties. Intention will be looked at objectively .In applying the objective test the courts consider whether the reasonable person in the other parties’
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Business Law: Offer and Acceptance. For a simple contract to be valid one party must make an offer and the other party accept it. An offer is made where a person (the offerer) unequivocally expresses to another (the offeree) his willingness to make a binding agreement on the terms specified by him if they are accepted by the offeree’ (Card 2002). This offer could be made to a specific person‚ in which case it cannot be accepted by anyone other than that individual. On the other hand it could
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valid one party must make an offer and the other accept it (see: Acceptance of offer). The offer will usually indicate the form the acceptance should take (e.g.‚ in writing‚ by post)‚ and may indicate when the acceptance will be deemed to have occurred (e.g.‚ on delivery of the posted acceptance‚ see: Acceptance of offer by post). In seeking to prove that a contract was in existence‚ it will be necessary to show that there was a definite offer. Certain things look like offers‚ but aren’t always what they
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Introduction Offer and Acceptance Introduction: For a contract to be legally binding there needs to be 4 ingredients: 1. Offer 2. Acceptance 3. Intention to create legal relations 4. Consideration Building on this‚ in order to prove that a contract is legally binding 5 things need to be proven: 1. That an agreement has been reached. This is usually done by demonstrating that one of the parties has made an offer which the other accepted. 2. The agreement has been
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Contract: enforcing bargains made between parties. Requirements for a valid contract • AGREEMENT between the parties • Requirement of CERTAINTY – terms of the contract/what’s going to happen during the life of the contract • INTENTION to create legal relations (formal agreement where they expect the law to be involved) • CONSIDERATION (giving each other party something of value which underlies promise they are making) AGREEMENT: (bargain negotiated between two parties) Looking at it objectively:
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Contract Law- Offer and Acceptance Enforcement of promises Criteria: 1. Offer and corresponding Acceptance 2. Consideration 3. Intention to create legal relationship 4. Certainty I. Formative elements – will theory of K Offer - an expressionof willingness to contract upon certain terms – binding upon acceptance Requisites: (a) Offer will become binding upon acceptance; and [may be prepared to sell] (b) Nothing further remains to be done If no an offer‚ what is it
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Hi Rajesh‚ Find below the format of the same.. Appointment Letter 19th November 2006 Mr. __________ _____________ _____________ Dear Mr.________‚ With reference to your application and subsequent interview with us‚ we are pleased to appoint you as Designation in our organization on the following terms and conditions. Date of Joining: You have joined us on 13th November 2006. Salary: Your Annual Total Employment Cost to the company would be 1‚9000(One Lakh Ninty thousand
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January 29‚ 2013 REL 2300 Instructor Jonathan Olson Tricks or Treats for African Children Witchcraft accusations in Africa is still a very serious matter. The witch is culturally understood to be the embodiment of evil and the cause of all misfortune‚ disease and death among the citizens of African countries and their varies communities. Consequently‚ the witch is the most hated person in African society and subjected to punishment‚ torture and even death. The victims of witchcraft accusations in
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