Contract Law: Essentials of a Valid Contract and Legal Remedies for Breach

CONTRACT LAW

Table of Contents
INTRODUCTION ..........................................................................................................................3
CONCLUSION ...............................................................................................................................6
REFERENCES:...............................................................................................................................7

INTRODUCTION
Contract law is a branch which deals with regulates various agreements between the parties
except for the the sale of goods weather it be a movable or immovable. It is an agreement in-
framed and is being enforceable by the court between the parties(DiMassimo, Garrett and
Officer) . As per the common law the very basic essentials to constitute a contract are
Agreement, Contractual intention, and consideration. The intention of court behind this is to
make sure that parties approaching had agreed in bona fide manner as the resulting contract will
be voluntary obligation. Further this essay is going to cover the two case studies and will be
discussing about the rights and responsibilities of the parties.
MAIN BODY
Case study 1- In order to conclude whether any contract has been formed between
Belinda and Avril, it is first important to understand the what are the various constituents which
forms the contract. Any agreement which is formed among the parties having adequate
consideration is Contract. The very basic essentials which are required are the Agreement which
includes the offer by one party and the acceptance by the other. The other requirement is the
intension to form the contract and last is the consideration.
An offer stands to be made when one party expresses his willingness to enter into
contract with the other party on certain specified terms having intention that it will become
binding on both the parties if gets accepted by the same. In order to bound the offerer the
intention of the object of the given offer must be clearly stated in order to make it enforceable.
Acceptance on the other hand is considered a the final assent to the conditions and terms stated
in the offer which has been made(Pargendler, 2017) . Acceptance can be said to be made in
either way it be by words spoken or by conduct, but the nature of the terms specified in the offer
must remain the same. Mere silence to the offer made by one party cannot be considered as an
acceptance. Also while covering these aspects with respect to the given case study it is important
to make a distinction between acceptance and counter offer. In acceptance it is mere accepting all
the terms as given in the offer whereas in case of counter offer it tends to vary the terms of the
original final offer which technically leaves the rejection of the original offer. An offer can be
said to be revoked at any time by the offeree but it should be made before the acceptance an the
proper communication of the same. And if there exists a case where party fails to do the proper
communication the revocation stands ineffective. Furthermore contractual intention is considered