Contract law essay example. Contract Law Essay Sample 2022-10-14
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Contract law is a branch of law that deals with the formation, enforcement, and interpretation of contracts. A contract is a legally binding agreement between two or more parties that sets out their rights and obligations towards each other.
One example of contract law is the sale of goods. In a sale of goods contract, one party (the seller) agrees to sell a certain product or service to another party (the buyer) in exchange for payment. The contract will typically outline the terms of the sale, including the price of the goods, the delivery date, and any warranties or guarantees.
Another example of contract law is the employment contract. An employment contract is an agreement between an employer and an employee that sets out the terms of the employment relationship. This may include the duties and responsibilities of the employee, the duration of the employment, and the compensation and benefits the employee will receive.
Contract law also applies to other types of agreements, such as leases, partnerships, and contracts for the performance of services. In each of these cases, the parties to the contract have certain obligations and rights that are governed by the terms of the contract.
There are several elements that must be present for a contract to be legally binding. First, there must be an offer and acceptance of the terms of the contract. This means that one party must make an offer to enter into the contract, and the other party must accept the offer.
Second, there must be consideration, which means that each party must provide something of value in exchange for the other party's promise. For example, in a sale of goods contract, the buyer promises to pay the seller a certain amount of money, and the seller promises to deliver the goods.
Third, the parties to the contract must have the capacity to enter into the contract. This means that they must be of legal age and have the mental capacity to understand the terms of the contract.
Finally, the contract must be made for a legal purpose. This means that the parties must not be engaging in illegal activity or violating any laws or regulations.
If any of these elements is missing, the contract may not be enforceable in court. However, even if a contract is enforceable, the parties may still have disputes over the interpretation or performance of the contract. In these cases, contract law provides a framework for resolving these disputes through the legal system.
In conclusion, contract law is an important area of law that governs the formation, enforcement, and interpretation of contracts. It plays a crucial role in regulating the relationships between parties to a contract and ensuring that their rights and obligations are upheld.
Contract Law and its Legal Principles
The problem, though, is that Art cannot complete a new drill hole until July 1, a month after the deadline in the old contract. In general terms, an individual should be authorised by a company before signing contracts on behalf of the company. . For example, if a building is hired to setup a business, say private hostel, the object of the contract is to run a private hostel. More specifically, einberg made an observation to the effect that the said investors… Works CitedBlum, Brian A.
An enforceable contract is made up of six elements and will also detail how and when a contract will be fulfilled or voided. . However, this is not usually the case. Employment law for business students. Another aspect to the controversy of consideration is the fact that it originated in the 12th century. I hope that this would give the necessary legal perspective on the issue and you get out of it with the appropriate measures. The object of a contract must be legal otherwise the contract will be null and void in law.
The first element in a contract is offer and acceptance. The renovations are unambiguously attributable to this contract between News and Maker. Print Contracts and Fraud Contracts are one of the cornerstones of our modern legal system. C is for CONCLUSION Once you have identified the Issue and the Rule and Applied the Rule to the facts of the case study, you will be expected to give your conclusion. The basic elements of a contract are mutual assent consideration, capacity and legality. The matter discussed in this paper has to do with a change in the manufacturing specifics of car models available for purchase.
Some contracts spell out the benefits that that are derived by third-party beneficiaries or instill needs on third-celebration obligors. In the case of Angelo and Ali, the offer is the on-site caravan, which Ali can either assent to or reject Finnis 2011, p. They seem to not understand how much damage it can do to a business. The arrangement involves one side making an offer, which the other party accepts. A contract is an agreement which normally consists of an 'offer ' and an 'acceptance ' and involves the 'meeting of the minds ' or consensus between two or more parties with the intention to create a legally enforceable binding contract. In a bid to elaborate more on the law of contract the essay will not only look at contracts covered under common law but also contracts governed by the Uniform Commercial Code and the doctrines of promissory estoppels. Voidable contracts are those that are enforceable under certain circumstances or only by certain parties.
The offer must be accepted 3 Contract Law For The English Law Contract Law What is a contract? The elements of contracts, together with the laws that provide protections for the parties involved, are theoretically straightforward and appeal to common sense principles, but in practice the forging of contracts and their enforcement can at times be complex. And this contract becomes a valid contract if it has all the essential elements described as follows: It is important to mention that contract is enforceable only if all these elements are present in the contract. R is for RULE You should identify the legal rule or rules applicable to the particular issue or issues. Although there are different justice recourses to aid in such circumstances, it functions as an essential case of how the pledging entities may disavow what primarily looked like a realistically tying treaty. Every business organization should specify its official name to ensure proper identification with the concerned legal authorities. Finnis, J 2011, natural law and natural rights, Oxford University Press, Oxford. Government contracts reference book; New York: CCH Incorporated, C.
Contract Law Essays: Examples, Topics, Titles, & Outlines
This essay basically focuses on different aspects of contract law and the impact it has on individuals and organizations in the society. The gadget was created decades ago and along the years, it has become of vital importance for various activities watching television, listening to music or operating machines. To create a valid contract, mere consent is not enough, rather the consent must be free consent according to law: A free consent is not caused by, coercion, undue influence, fraud, misrepresentation and mistake. Only grown-ups of normal capacity and intelligence should be involved in any contract. Once investigations are completed and if a contract discovered, the terms of this contract must be outlined. An offer is a manifestation by one party of a potential intent to contract. Habitually, the judges may obtain interpretations from the collective acquaintance and how the customers are well-versed on the obligatory nature of a treaty and the intent of sellers to have them pay for commodities.
There are numerous voidable contract cases that have been heard and determined in the past. David 2002 continued to say that there are several types of contract but nevertheless contracts can be basically classified as under; valid contracts, voidable contracts and lastly void contracts. For example, if there is a question about implied terms in a contract, you should briefly cover the issue of whether there is a contract or not and explain the legal rules that lead you to your opinion, before tackling the implied terms which are at the heart of the question. The Sale of Goods Act 1979 serves as a good example. The written contract is signed by both the parties as documentary evidence for the legal binding. However, a contract may be oral.
The accident was unavoidable. An oral contract can either be implied in facts or implied in law. Another aspect to the Words: 354 Length: 1 Pages Topic: Business - Law Paper : 53994228 University of Oslo Law School, 2005 Characteristic for the Norwegian legal tradition in the 20th century, as for the rest of Scandinavia, is the so-called "legal realism," which has emphasized considerations of justice in legal reasoning. Buying a cappuccino at the corner Starbucks, streaming a video on Netflix, or coming home to a mortgaged house can involve countless contracts, both unstated and written. Retrieved August 15, 2013, from Contract Law Under the UCC Uniform Commercial Code section 3-405 Employer's Responsibility for Fraudulent Endorsement by Employee corporate accounts are exposed to a multitude of fraudulent and forgery risks and therefore it has been mandated that the corporate employer as well as the bank are responsible for keeping a check on their account activities. Although at first, this might seem self-explanatory, it is deemed imperative that the contracting parties must differentiate between what the law states would amount to a valid offer and those that will not.
If this happens, it implies that the contact is executed. However, under the UCC there is nothing inconsistent about unequivocal acceptance of an offer coupled with discussion of missing terms or even prepared for different terms. This examination shows that good intentions can sometimes have questionable results, even when the ethical… References Bernstein, D. Contract law works to make these agreements enforceable, which typically means Words: 3019 Length: 10 Pages Topic: Business - Law Paper : 67172942 However, it must be noted that the doctrine of consideration has changed and therefore seems to have fixed many of its most impractical elements, or at least that is what has been argued. Moreover, the element of consideration also exists between the parties in the contract for the purchase of the car. In sum, the contract for the purchase of an automobile exists between Jim, Laura, and Stan since the elements of a contract were met in the arrangement. It notes that prior arrangements and agreements are not invalidated by this amendment or change unless the express agreement added is inconsistent with what was agreed to prior UK Law, 2013.
Exchanges in the marketplace always rely on voluntary agreements between people. Art bought a well-drilling rig and drilled a 400-foot well from which he drew drinking water. The consideration aspect was about giving something additional to a person's word in a contract arrangement. This scenario has generated several concerns on whether A was right, especially if the report was reliable. This removed from the American market a foreign manufacturer that had been the only competitor of Maker and Pressco.