Commercial Law Issue Assignment

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Added on 2020-04-21

Commercial Law Issue Assignment

Added on 2020-04-21

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Running head: COMMERCIAL LAW Commercial LawName of the StudentName of the UniversityAuthor Note

1COMMERCIAL LAW1.IssueThe main issue in the given project is to discuss whether Alan has a rightful contractualagreement with Charleen, Damien and Bernard or not, such that further analysis can beconducted regarding the longevity of their said claims. RuleIt was clearly stated by McKendrick (2014) that a contractual agreement binds the involvedparties into the various conditions mentioned in it, legally. Compensation has to be made by anyparties committing a breach to the party that is aggrieved.Legal agreement is an incorporation of seven basic elements that are as follows: considerations,offer, acceptance, illegality, capacities, vitiating factors and legal relationship intentions. Offer would be an expression of acceptance to the contractual terms and agreements whilehaving full understanding of the various terms that subjugate the parties involved, the terms haveto be lawful, since, trust is crucial factor when it comes to such agreements, as stated by Prof.Trecitel.An invitation to offer and an offer are two separate terms. An invitation is simply an invite givento other parties, but has no legal terms involved, they are simply incomplete. An offer,supposedly that of the sales of goods is said to have reached completion when it includes mode,price, date and payment that is involved in the delivery process. It can be labeled as complete if aperson with a sound mind deems it so and gets himself involved in the agreement in question.

2COMMERCIAL LAWIt was stated by Atiyah (2006) acceptance is the final and mostly, an unequivocal expression offinal thoughts giving approval to terms put forward by others in a contractual agreement. Via theprocess of acceptance, offeree is said to denote his will as to his accepting the various contractualterms assigned and put forward by the other person and binding him to the contract. If there is nolegal acceptance, the contract remains unbound. The acceptance won’t compile terms that weren’t there in the offer to begin with. It is alsoagreed that the said acceptance can in no way consist of terms that are meant to overlook andoutmaneuver any terms already present in the contract. Until and unless the offerer is notifiedabout the acceptance of the offer, the process remains incomplete. The communication canproceed via whichever platform deemed appropriate by the parties.It was stated by Chen-wishart (2016) that the intentions of the parties involved to get themselvestied in the contractual terms in all legality is the underlying ingredient of the coming intoexistence of a contract. When such intentions aren’t present, the agreement cannot be valid. The term capacity to bind oneself into a valid contract includes anyone who is than 18 years orolder and has a sound mind.Application It was stated that the people who are officially invited to the offer are the only ones capable ofaccepting it, which clarifies the fact that Damien cannot involve himself in the stated offerbecause of inexistence in Alan’s friend list on facebook. But, since Alan received an SMS sentby Damien, this incident will also be calculated as an invite. It is further seen that Alan willinglyaccepted Damien’s call and offered the product for $200 which was accepted by him. Damien’spayment was recorded as on 4th November. This proves their contract’s validity.

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