Contract Law
Added on -2020-06-06
Contract Law INTRODUCTION 1 TASK 1 CONCLSUION 6 REFERENCES 7 INTRODUCTION In modern era, law is essential for any organisation as well as individuals. ‘Contract’ includes many terms and conditions which bind parties to perform their duties in appropriate manner. “A contract is an agreement which has been created between two parties and rising their obligation which are recognised by law” (Strang and Fix, 2011). It also considered as promise made between parties which allows court to make decree (
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Contract Law
Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................1CONCLSUION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONIn modern era, law is essential for organisation as well as individuals. Laws are rules,regulations and restrictions which is applying to all members who is leaving in society. It definesthat how people should behave and it also provides sanctions against improper behaviour. It alsohelps in organising societies, ensure about safety and prevent infringement of their rights. In thisthere is one term i.e. contract law (Ayres and Schwartz, 2014). It means that agreement is somebetween two or more parties and which is enforceable by court. In this report, different case lawis explained in regard to contract law. ‘Contract’ includes many terms and conditions which bindparties to perform their duties in appropriate manner. TASK Contract law is defined in legal system. The meaning of this contract is same for allperson or organisation. “A contract is an agreement which has been created between two partiesand rising their obligation which are recognised by law” (Strang and Fix, 2011). In common law,it considered basic three essentials at the time of creation of contract i.e. contractual intention,consideration and agreement. Contract can be written or in oral. It also considered as promisemade between parties which allows court to make decree (Bar-Gill, 2012). In addition to this,contract is a term which is written agreement. It cannot be considered as a valid contract if itdoes not consist of all essential elements of a valid agreement. Furthermore, it can be said thatparties should consider all elements of valid and legal agreement before entering into anycontractual relationship. It consists six important elements to make contract valid i.e. proposal,agree, capacity, intention to generate lawful relation, consideration., certainty. These elementsshould be included in bond, if not then it would be considered as unacceptable contract. Theseexplanations are as below;Offer – This is first element which includes in contract i.e. offer. A contract is createdwhen one person has established the proposal which has been given by other person. There offerare distinguish from willingness to deal or negotiate. It is not essential that offer should be needto make to specific person only. An offer can be made to class of people, to whole world orsingle person. For example, bike dealer deals with “C”, to sell his bike for $11,500 withoutgiving any suitable licence. A person is also having right to reject offer before accept to it. 1
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