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Principles of Contract Law Assignment - (Doc)

   

Added on  2020-10-05

6 Pages1059 Words341 Views
PRINCIPLES OFCONTRACT LAW

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Question 5. Requirements of valid contract as per the English Contract Law.......................1Question 7. Discussion on the way contract clauses are validly incorporated.......................2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4

INTRODUCTIONContract law shows the intention of entering into a legal relationship through anagreement by parties to contract. Present report includes brief discussion about elements requiredto make any contract valid along with the clauses to be included in contract for incorporating itvalidly.MAIN BODYQuestion 5. Requirements of valid contract as per the English Contract LawContract:According to the provisions of English law, contract is a legal relation in between twoparties in order to complete their part of performance (Abdullah and Bachri, 2018). For exchange of consideration as per the agreement created by them.Requirements of valid contract:For making any contract valid, following elements are required:Offer:Any contract starts after offer is given by the one party to another. It is a statement whichis being prepared for the purpose of creating contractual relation in between parties. Example:advertisement, catalogs, etc. (Stoica and Bostan, 2015).Acceptance:Acceptance turns the offer into a contract. It needs to be unconditional. If party makesany changes in the offer before accepting it, it is termed as a counter-offer. Silence also can't beamounted as acceptance.Capacity to contract:For making any contract valid, it is required that all parties to the contract must havecapacity of understanding terms of contract. Law has provided some capacity that is needed to bein the person entering into contract like:Party must have completed minimum age of 18 years at the time of entering into contract.No party must suffer any mental disorder at the time of entering into contract and must beof sound mind.In case any party is not fulfilling minimum capacity to contract, it will become invalid.Consideration:1

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