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Essential elements of contract : Report

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Added on  2019-12-28

Essential elements of contract : Report

   Added on 2019-12-28

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Essential elements of contract : Report_1
Table of ContentsINTRODUCTION................................................................................................................................4LETTER 1............................................................................................................................................4LETTER 2............................................................................................................................................5LETTER 3............................................................................................................................................7CONCLUSION....................................................................................................................................8REFERENCES.....................................................................................................................................92
Essential elements of contract : Report_2
INTRODUCTIONAn agreement which is enforceable by law is termed as contract. In other words, anagreement which is voluntary, deliberately and legally bound among two or more parties are alsocalled as contract (Bennett, 2011). This report is basically focused on the different aspects ofcontract in order to enhance knowledge about the contract and its elements. Moreover,discussion has been made on the essential element of a valid contract and also the terms includedin the contract. Along with that, different types of contracts are discussed and also its impactswill be described. TASK 1 LETTER 1To, Sam and BobSubject: Explanation about the essential elements of a valid contractThere are basically four types of essential elements which are required by the parties tofollow in order to make a contract valid. Description of these elements as per the case are asfollows:OfferFirstly, the most important element is the offer. As per the case, Bob has made an offer toanother party so Bob is known as offerer (Joo, 2009). Offer should be valid and should be madewithin a reasonable time.(Invitation to treat basically is a different concept and it is distinguished from an offer. Offerbasically leads to a binding contract on acceptance whereas an invitation to treat cannot beaccepted as it is an invitation for the offer to be created. Thus, as per the case of (Fisher v Bell[1961] 1 QB 394) it can be inferred that goods displayed on the shop is not an offer and it is aninvitation to treat. It is up to the seller to accept it or not (Kantarelis, 2008). So, Sam hasinvited their customers to give them an offer. In this case, Bob has offered Sam for the sale ofbook but it is in the hands of Sam whether to accept the offer or reject it. Hence, there was nocontract made between them).Acceptance3
Essential elements of contract : Report_3

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