LAWS20061 Assignment - Assignment Management Law
Added on 2020-03-16
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LAWS20061 Management Law(2017 Semester 2)Assessment 3- Case Study1
TABLE OF CONTENTSQuestion 1..................................................................................................................................3Issue........................................................................................................................................3Rules.......................................................................................................................................3Applicability of rules..............................................................................................................3Conclusion..............................................................................................................................3Question 2..................................................................................................................................4Issue........................................................................................................................................4Rules.......................................................................................................................................4Applicability of rule...............................................................................................................4Conclusion..............................................................................................................................4Question 3..................................................................................................................................4Issue........................................................................................................................................4Rule........................................................................................................................................4Applicability of rule...............................................................................................................5Conclusion..............................................................................................................................5Question 4..................................................................................................................................5Issue........................................................................................................................................5Rule........................................................................................................................................5Applicability of rule...............................................................................................................6Conclusion..............................................................................................................................6References..................................................................................................................................72
QUESTION 1IssueTo determine the validity of agreement signed between Tom and Susan.RulesThe contract being an official agreement can be either written or oral. A contract in order tobe valid needs to have specifically six elements:1.Offer: An offer or a promise is important as if there is no offer made by one party toanother there will be no contract. 2.Acceptance: After receiving an offer from one party there should be an acceptance byanother. Further, no contract shall be concluded if the parties are still into negotiationsor discussing not having accepted the offer (Koffman & Macdonald, 2010).3.Intention to create a legal relation: As per Contract Act, it is important to intent tocreate legal relations as one of the key requirement as a valid contract. In case of nointention to create legal relations, the contract can be subject to a lawsuit.4.Consideration: Consideration in a contract is meaning the exchange set between thepromisor and promises to make the contract legally valid (Chen-Wishart, 2012). 5.Capacity: the contract must be in a legal capacity to do so i.e., the parties involved ina contract must be major. 6.Certainty: the terms and regulations made in the contract must be certain Expresslynot declared void to make it enforceable or considered valid.Applicability of rulesAs in the current case of Tom and Susan, the elements stated to make a contract valid are allfulfilled. Tom makes a written offer to Susan to which she gives her acceptance. Theconsideration of $100,000 and legal intent as well as the capacity of parties makes thecontract legally valid one. ConclusionHerein, the contract entered between Tom and Susan is a valid agreement as both parties’legal intentions were clear and mutual consent was assured through the signature of both.Therefore, Tom approach to pay Susan only $100,000 is valid. 3
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