In-Depth Case Study: Exploring Key Concepts in Contract Law

This assignment presents a detailed analysis of contract law through case studies. It examines scenarios involving loan contracts, advertisement errors, and restraint of trade principles. The first case considers the modification of a loan agreement and the legal implications of accepting a lesser amount as full settlement. The second case addresses an error in an advertisement and whether a contract is formed based on the incorrect price. The final case touches on the principle of restraint of trade in business and the conditions under which it can be enforced. The report concludes that contract law supports clauses made under legal contracts, and modifications require agreement from all parties. Desklib offers solved assignments and past papers for students.

CONTRACT LAW

Table of Contents
INTRODUCTION...........................................................................................................................4
MAOIN BODY................................................................................................................................4
Question 1...................................................................................................................................4
Question 2...................................................................................................................................5
Question 3...................................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Contract law is defined as the agreement formed in between the two or more parties in
against to transfer the ownership over the property or equipment or any kind of product. The role
of contract is to transfer the ownership of the respective element or product to other party
involved in the contract. This report will discuss different case studies about the contract law.
MAOIN BODY
Question 1
(a)
The common law position always support the term and conditions mentioned in the
contract law. In case of two parties involved in any form of contract and the agreement contain
signature of both the parties contractor and contractee over the agreement which indicate the fact
that both parties agreed with the terms and conditions mentioned in agreement. In process of
implication of the contract all actions will be coordinated as per the terms of the contract made in
between the parties 1. The condition put by the Biggles to Amelia is that in case the Amelia can
sell the laptop than the sale proceed would be considered as the full and final settlement of the
contract. This was the modification made in the contract agreement. Any modification in
contract found applicable if both the parties involved in original contract found is aggregable to
implement. In case both the parties agreed with the modification than the old contract do not find
liable for any legal implication as all transactions would be coordinated as per the new
agreement made between the parties. The new agreement clearly indicate that the sale proceed of
the laptop would consider as the full and final settlement of the debt given to Amelia. The
contract do not mention the minimum sale value against the sale made of laptop. The contract
condition clearly indicate that the total sale proceed would be considered as the final settlement
of the debt.
(b)
In the present case Amelia can find itself safe for any kind of legal application as per the
earlier or previous contract made between the parties. The current contract clearly indicate that
the sale proceed of laptop would consider as the full and final settlement of debt. Hence, Amelia
1 Akhtar-Khavari and et.al

has given the sale proceed of laptop to the Biggle. This would be considered as the full
settlement of the debt even if the original debt was less than the sale value of laptop. ON the
basis of the terms of the modified contract Amelkia can find itself free from the debt aligation.
The case law between Pty Ltd vs Cahill also stte the same fact.
Question 2
(a)
Contract is a mutual agreement between the parties about the transfer of ownership of any
respective entity. This is considered as the agreement made in between the parties. Verbal
commitment do not found liable under the contract act. The current situation involve the case
study of Rosella Ltd and Tom. The Rosella Ltd advertised the distribution of Plasma but due to
some kind of error the price could misprint in the advertisement. This is an obvious mistake that
can be entertain by anyone2. Also there is not any legal agreement formulated between the
Rosella Ltd and Tom about the trade of Plasma Television. Just by watching at the advertisement
Tom came to get access of the product do not make this as an agreement. This is advised to the
Rosella Ltd that there is not any agreement has been formed between the organisation and Tom.
The error in advertisement campaign can be erased by publishing another article in the same
promotional mode by restating the price of the product. Hence there is not any agreement
founded between the parties Tom do not get liable to have Plasma Television in $200 instead of
its original price of $2000. The case law between Taylor vs Johnson case law also support the
factual details about the case law.
(B)
Misprint of the price in advertisement campaign can be a considerable mistake but it is
requied for the Rosella Ltd to overcome the mistake by publishing another article quoting the
actual price of product. Australian consumer law support the rights of the customers that needed
to entertain in any given situation. The consumer protection act support and favour the customers
against any kind of fraud or misbehaviour entertain by the trader. The consumer law also found
that whether the transaction is entertained under the practice of fraud. The current case is not a
fraud between the Rosella Ltd and Tom. The mistake related to price is made which do not
indicate the fact that the company has practices fraud with the Tom. There is not any agreement
made between the parties. Tom has not right to claim any kind of damage from the Rosella Ltd
2 Alden, Scott, and Victoria GordonElias, P. (2018)

just on the ground of error in advertisement campaign. It was an obvious mistake that can be
removed by the company by publishing another article quotation the right price. This cannot be
any possible ground to claim the damage from the business house.
Question 3
Contract law allow the principle of restraint of trade in business. There are some
condition that support this principle. Every time any case study arises of this concept this is
essential that the agreement support different principles of restraints of trade in business3. The
law favours the business house to claim any condition under the restraint of trade on the basis of
the condition associated with the restraints of trade. Restraints of trade in business can be
enforced if the court find it necessary and liable to do the same practice.
CONCLUSION
Contract law support all the clauses made under the legal contract. Any implication that
is formulated on the basis of the term and condition attached with the agreement the further
proceeding will be coordinated. Any modification in contract can only find is applicable once
both the parties involved under the original contract agreed with the same.
3 Goldberger, JeffreyPearson, Mark

REFERENCES
Books and Journal
Akhtar-Khavari and et.al. Ecological Restoration Law: Concepts and Case Studies. Routledge,
2019.
Alden, Scott, and Victoria Gordon. "Bid challenges in Australia, the US and the
UK." Governance Directions 69, no. 7 (2017): 423-425.
Elias, P. (2018). Changes and Challenges to the Contract of Employment. Oxford Journal of
Legal Studies, 38(4), 869-887.
Goldberger, Jeffrey. "Assessment of damages for breach of contract." Commercial Law
Quarterly: The Journal of the Commercial Law Association of Australia 32, no. 3
(2018): 12-51.
Pearson, Mark. "In this chapter." Public Relations: Theory and Practice (2020).