Case Study – Legal Intention of the Parties
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Added on 2019-11-25
Case Study – Legal Intention of the Parties
Added on 2019-11-25
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2ContentsSolution.......................................................................................................................................................31.Elements of contract........................................................................................................................32.Agreement – written or oral.............................................................................................................43.Formal Contract...............................................................................................................................44.Case study – legal intention of the parties........................................................................................5Issue:...................................................................................................................................................5Law:.....................................................................................................................................................5Application of law...............................................................................................................................6Conclusion...........................................................................................................................................65.Relationship of Principal with an agent or an independent contractor.............................................6Bibliography................................................................................................................................................8
3Solution1.Elements of contractA contract is a kind of document wherein two parties, an offeror and an offeree, comply withcertain elements of contract and results in a binding relationship which must be honoredby them in every situation. A contract can be written or oral in nature but whatevermaybe the form of contract there are few elements which must be present to make itenforceable in law.[ CITATION Gib133 \l 1033 ]Thus, the main elements of contract are:[ CITATION Cla121 \l 1033 ]i.An offer – An offer is a statement, oral or written, which is communicated by an offerorto an offeree, through which he specifies the act or omission which the offeror intends tobe confirmed by an offeree. It is necessary that the offer must be communicated to theofferee to make it valid in nature. In the leading case of [ CITATION Car935 \l 1033 ], it washeld that an offer can be made to one specific person or to the world at large. ii.An acceptance – When the offer is received by the offeree then the confirmation of theoffer without bringing any deviation to its terms is an acceptance. If the offeree bringsand variation to offer terms then it results in the revocation of the offer and is calledcounter offer and is held in [ CITATION Hyd43 \l 1033 ]. An acceptance is valid only whenthe same comes within the knowledge of the offeror. An offer and acceptance makes an agreement. The other requirements to convent an agreementinto a contract are:iii.Consideration – The agreement must be supported by some kind of benefit to make theagreement enforceable in law. A consideration must move from the offeror to the offereeagainst the act or omission undertaken by the offeree on behalf of the offeror. aconsideration must be sufficient and it is not necessary that the same must be adequate innature and is held in [ CITATION Bio88 \l 1033 ]iv.Legal intention – The parties when exchanging promises must do so with legal intention.A contract based on family or domestic relationship is no contract in law but thispresumption is rebuttable on the presentation of evidence and is held in [ CITATIONJon692 \l 1033 ]v.Capacity of the parties - The parties must be major and of sound mind to make thecontract valid.Thus, these are the elements which must be present in order to make a contract enforceable inlaw.
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