Sep 09, · contract is a legally enforceable promise that allows commerce to flow smoothly throughout society. ithout contracts, businesses and consumers would be embroiled in constant disputes with potential for fraud and frequent misunderstandings but the fact that contracts are available does not eliminate disputes and resulting litigation Oct 08, · A contract refers to a voluntary agreement between two or more parties that is lawfully enforceable as a legally binding agreement. There are various elements of a contract that must be met for any contract to be legally binding between the parties involved. These elements include; offer and acceptance, consideration, capacity and competency, mutual consent and writing requirement May 15, · The major elements of a contract are: offer, acceptance, legal consideration, object, capacity of parties, and consent. In business contracts, an offer refers to what one party is willing to do for the other party. Alternatively, it can be something that one party is willing to give to another party in the contract
The Contract Law: [Essay Example], words GradesFixer
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. Together, these elements will offer specific insights that are showing how they work and their effects on the various parties.
Andrews, McKendrick, Were there any issues, legal or otherwise, faced when entering into the contract? The biggest issues faced when entering a life insurance contract are the implications for family members and the financial burden on them. The biggest challenges for the policy owner are…. References Andrews, N. Contract Law, essay on contracts.
New York, NY: Cambridge University Press. Easton, essay on contracts, A. Actuarial Aspects of Individual Life Insurance. Winsted, CT: ACTEX Publications. McKendrick, K. Oxford: Oxford University Press.
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 of human beings.
There are basically two concepts regarding law: general concept which is composed of the American society rules i. morals, norms or law of morality while law proper is composed of rules and regulations specifically enacted by the state through congress or other relevant authorities.
This essay basically focuses on different aspects of contract law and the impact it has on individuals and organizations in the society. In a bid to elaborate more on the law…. Work cited Essay on contracts Speaight, Architects Essay on contracts Handbook; the law for architects, Blackwell, ppCharles L, K. David S, C. The Authority of Law, Essays on Law and Morality.
Oxford University Press pp 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, essay on contracts. 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 controversy of consideration is the fact that it originated in the 12th century.
This shows that consideration was needed in those days because there wasn't the legal system in place that we have today. People had their "things" or their "services" that could be offered as fair terms in a promise.
The consideration aspect was about giving something additional to a person's word in a contract arrangement. Those were simpler times and people didn't have as much as they have…. References: Dowling, A Exclusive rights of burial and the law of real property. The Queen's Epstein, essay on contracts, A Contract Law Fundamentals. Prentice Hall. Harland DJ. Contract Law in Australia. Lexis Nexis Butterworths. Contract law lies essay on contracts 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 that it permits one party to a contract to get money damages from the other party upon demonstrating that they have breached the contract.
If there wasn't contract law, essay on contracts, these voluntary agreements would immediately become unreasonable and impracticable. Since such agreements lie at the center of our civilization and economy, and since they depend upon contract law. It is this scheme of contract law that underpins and makes possible the numerous private, voluntary agreements by which exchanges of goods and…. Works Cited "Contract Law. Contract Law The author of this response is asked to offer a response to a few major questions.
First, the author is to explain the purpose and importance of Mitchell v. Finney Lock Seeds as it relates to contract law. The author is asked to relate Section 55 of the Sale of Goods Act of to Schedule 2 of the Unfair Contract Terms Act of The author of this response will tie this all together. Finney Lock Seeds Section 55, of course, relates to express contracts that are used to amend or change essay on contracts prior agreement.
It notes that prior arrangements and agreements are not invalidated by this amendment or change unless the express agreement added is inconsistent with what was agreed to prior UK Law, George Mitchell v. Finney Lock Seeds is relevant because claiming George Mitchell agreed to buy 30…. References E-LawResrouces. George Mitchell v Finney Lock Seeds. php UKLaw. Sale of Goods Act Unfair Contract Terms Act Contract Law Under the UCC Uniform Commercial Code section Employer's Responsibility for Fraudulent Endorsement by Employee corporate accounts are exposed to a multitude of fraudulent and forgery risks and therefore it has been mandated that the corporate employer as well as the bank are responsible for keeping a check on their account activities.
In the above case, Stewart's client may have issued the check on behalf of the corporate employer but the company itself has given no authorization. To properly cash the check Stewart has to first acquire an authorization from the company and endorse it by the signatory or account department of the company.
It is only then will Stewart be entitled to the amount owed to him. In a court of law, Stewart cannot sue the bank as the UCC Section protects the company from liability to fraudulent individual through these measures Getty Petroleum Corp.
When Wholesale Coal company demand the delivery of the rest of the eighteen carloads it had been justified in doing so because of the fact that in accepting the deliverance of the carloads, Guyan accepts the full term of the initial offer. The contract is binding and effective to the terms of the initial offer and not that essay on contracts the counter offer.
Contract Law In the presented scenario, rian had been negotiating with Amy for several days without reaching agreement. They finally reached a compromise and agreed that the transaction would proceed. However, it appears as though there was a communication lapse because Amy's bid was higher than rian's offer, which is unusual in such kind of transactions, essay on contracts. Despite these facts, a contract is considered as legally binding if it contains the basic elements including an offer, acceptance and intention of legal consequences.
English contract law as seen in Powell v Lee 99 LTestablishes that an offer must be made by the offeror to the offeree himself or authorized agent. On the other hand, essay on contracts is an important aspect of a contract.
In Entores Ltd. v Miles Essay on contracts East Corporation EWCA Civ 3 the ruling made it clear…. Bibliography Cameron, M. Carlill v Carbolic Smoke Ball Co[3]. Entores Ltd, essay on contracts.
v Miles Far East Corporation [] EWCA Civ 3. Nestle Co Ltd. Therefore, Gerard's promise did not create a contract, at least not at the time that he issued the promise to stage a concert for Kids Care, essay on contracts. For example, where an individual provides emergency help, such as driving a friend to an important appointmentthere is no obligation to pay for the gas and tolls absent any discussion or agreement to that effect.
However, if the…. References Friedman, L. A History of American Law. Halbert, essay on contracts, T. And Ingulli, E. Cincinnati, OH: West Legal Studies. The presiding judge disagreed with them and "commented that if reverse engineering was possible, then they should reverse engineer the alleged infringement to obtain evidence of infringement. Analogies The situation assumed in the first section of the paper, that of a software product which could or could not be reverse engineered by a customer, researcher or journalist, can be essay on contracts through the lens of other situations as well.
For starters, take the case of the remote control. The gadget was created decades ago and along essay on contracts years, it has essay on contracts of vital importance for various activities watching television, listening to music or operating machines. Given that the first manufacturer of remote controls would have been the only one with the essay on contracts to produce it, the segment would have evolved at an extremely slow pace.
Through reverse engineering however, numerous other producers began to manufacture the item and the customer…. Newby, T, essay on contracts. Stanford Law Review, Vol. asp a14last accessed on February 4, Newby,
Contracts Essay Practice
, time: 10:48Contract Law Essays: Examples, Topics, Titles, & Outlines
Oct 08, · A contract refers to a voluntary agreement between two or more parties that is lawfully enforceable as a legally binding agreement. There are various elements of a contract that must be met for any contract to be legally binding between the parties involved. These elements include; offer and acceptance, consideration, capacity and competency, mutual consent and writing requirement Essay on Contracts. Words6 Pages. Contracts A contract is formed between two or more parties. In order for a contract to be legally binding there must be offer and acceptance. This simple basis for a contract is not as clear cut as it first appears. In certain circumstances it is often necessary for the two parties to the contract to communicate via post or by other indirect means May 15, · The major elements of a contract are: offer, acceptance, legal consideration, object, capacity of parties, and consent. In business contracts, an offer refers to what one party is willing to do for the other party. Alternatively, it can be something that one party is willing to give to another party in the contract
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