Formation of Contractual Relationships

FORMATION OF
CONTRACTUAL
RELATIONSHIPS

TABLE OF CONTENTS
TASK ..............................................................................................................................................1
Define contract law and all the blue prints of the contract..........................................................1
Court System in relation to English Legal system and the court action to be pursued by the
parties. .........................................................................................................................................2
Evaluating existence of binding contract between Hilary and :Eleanor, Amy and Olivia..........4
Remedies available to parties. .....................................................................................................5
REFERENCES................................................................................................................................6

TASK
Formation of Contractual Relationship
Define contract law and all the blue prints of the contract.
Contract
A contract can be defined as a promise, breach of which provides remedy or performance
of promise that law in some of the ways recognises as duty. Contract refers to legal obligation
resulting from agreement of the parties and other applicable laws. In most simple words contract
refers to agreement enforceable by law.
Contract can be applied when two of the parties agree over something, and it is been
related to value or money, both parties are in stable conditions and intends to carry forward the
related promises and it is within legal provisions of law (Lehmann and Zetzsche, 2016). There
are mainly two types of contracts in the contact law which are express contract and implied
contract.
 Express contract refers to contract in which all the elements are stated specifically.
 Implied contact binds the parties together via mutual intent and agreement, but express
terms of agreement are not there.
Blueprints of the contract law
Blue prints refer to the main components of the contract
Offer - It is can be defined as appearance of the ability to form contract over the terms which are
specified, which are being made on basis of intention of being bound by terms which is once
received by individual to whomsoever it is being concerned. Offer need to have manifestation
which is objective and is being intended by offer or to become bound by offer on acceptance by
other party. It can be made to an individual or even to a group of people
Acceptance - It can be defined as a consent to have something which is being offered. It has also
been analysed that offer is being accepted based on varied terms and conditions. It is also being
judged objectively. In order to form a contract, acceptance must be made in an authorised and
reliable manner.
Consideration - In contract law, as general rule promise could not be considered as contract
unless providing assistance related to it. It can also be understood as something in value which is
being given for promise and for making promise taken as a contract. It is some detriment to
promisee or benefit to promisor. Consideration must be provided by promisee.
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