CONTRACTS IN BUSINESS On the 10th of September an offer was distinguished between Huddersford Electronics Ltd (HE ltd) and Gem Computer Stores (GCS). The offer was an invitation to treat as there is an entitlement that an offer could accepted and therefore‚ a contract could be formed. An offer is formed as HE ltd posted an offer to sell 10 laptops to GCS‚ keeping the offer open until the 24th September. A statement is made by HE ltd who is giving information to GCS expressing an intention to sell
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cNATIONAL ECONOMICS UNIVERSITY‚ HANOI BTEC HND IN BUSINESS AND MANAGEMENT ASSIGNMENT COVER SHEET | | |NAME OF STUDENT |Pham Thi Thuy Trang | |REGISTRATION NO. |1013103214 | |UNIT TITLE |Common Law
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within their means. Being unhappy with what she has leads Mathilde to borrow what she cannot afford to buy. One day Mr. Loisel brings his wife an invitation to a party‚ one that he had “tremendous trouble to get.” All Mathilde can do is “[throw] the invitation on the table with annoyance”. She doesn’t appreciate the fact that he got them an invitation to a party that she’s always wanted to go to. She feels
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Hollywood is welcoming Olympic gold medal winners in a big way this year. The best athletes in the world are competing in Rio for the ultimate prize...a medal. While all their hard work‚ guts and determination are on display for the world to see‚ Hollywood is where they will go after their events are over. For most athletes‚ once they win it’s time to hit the circuit and show off their shiny prize. As NBC has the rights to the Olympic broadcasts‚ it’s not surprising to see the stars on the Today
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of Rashid and According to agent theory “agent cannot make a secrete profit”. Q 2: What are the essentials of valid contract? Explain each one in detail with examples. A contract is an agreement that can be enforceable by law. An agreement is an offer and its acceptance. An agreement which can be enforceable by law must have some essential elements. According to Section 10 "All agreements are contracts if they are made by the free consent of the parties competent to contract‚ for a lawful consideration
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➢ Two main sources: common law‚ statute law Clarke & Gamble (p.36) Briefly‚ the general rules are as follows. First‚ an agreement is not reached unless the offeror is notified that the offer has been accepted. Therefore‚ it is not sufficient for the offeree merely to mentally deicide to accept an offer — this decision must be actually communicated to the offeror. Second‚ an agreement is concluded at the time acceptance is received by the offeror‚ rather than the time it is sent by the offeree
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Privity essay Privity of Contract is the relation that exists between contracting parties . Privity of contract applies mainly to HYPERLINK "http /www .wordiq .com /definition /Contract_of_sale " \o "Contract of sale " contracts of sale of goods or services and is restricted to the parties to a contract . Thus ‚ a third party is precluded from initiating legal action against the parties to the contract for entitlement in excess of its benefits as provided in the contract . Moreover ‚ a third party
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contracts) Topic 3b: Elements of a simple contract 1. intention to create legal relationship - presumed in commercial but not family/social relationships; rebuttable by evidence 2. Mutual agreement - often proven by identifying separate offer & acceptance; can also be proven by circumstances / conduct 3. Consideration - promises need to be mutual‚ from each party to the
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longer available. Eric sued Viv for breach of contract but at first instance the judge found for Viv on the following basis: (A) There was no contact between Viv and Eric since the notice in the paper was not an offer but invitation to treat; and (B) Even if the notice did amount to an offer it was withdrawn before acceptance applying the principle enunciated in Entores Ltd v Miles Far East Corporation [1955] 2 QB 327.
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1872‚ “An agreement enforceable by law is a contact.” A contractual relation comes into existence when only one party makes a proposal or offer to the other party and that other party signifies or gives his acceptance. Essential element of valid contract is as follows: 1) Offer and acceptance: There must be a ‘lawful offer’ and ‘lawful acceptance of the offer. 2) Intention to create legal relation There must be an intention among the parties that the agreement should be attached by legal consequences
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