Contract Law A contract is an agreement between two parties in which one party agrees to perform some actions in return of some consideration. These promises are legally binding. The contract can be for exchange of goods, services, property and so on. A contract can be oral as well as written and also it can be part oral and part written but it is useful to have written contract otherwise issues can be created in future. But both the written as well as oral contract is legally enforceable. Also if there is a breach of contract, there are certain remedies for that which are discussed later in the assignment. There are certain elements which need to be present in a contract. These elements are discussed in the detail in the assignment. (Clarke, …show more content…
Generally the price is fixed by the person who has made the offer but sometimes negotiation take place between two parties and then the price at which both parties agree is paid by the offeree. It is essential that the paid price should be that on which both parties agrees otherwise the contract will be considered as void. Some problems such as mistake, duress and non est factum can prevent mutuality between two parties. The case of Petelin v Cullen gives a better understanding about mistake and non est factum. In this case Petelin was deceived and was made to sign a document written in English but Petelin could not understand English, so the court announced that the contract was not enforceable. In the given case, both Hevvy and Traynor mutually agreed on the term that Traynor will provide training sessions to Hevvy at the rate of $30 per session. (Sweeney, O 'Reilly and Coleman, 2010) Insurable Interest/ …show more content…
There are certain elements that are covered in the concept of capacity such as mental disorder, intoxication, minors and so on. Mental Disorder: This states that the mind of the person involved in the contract should be stable at the time of making of the contract. The person must have enough understanding that he can make decisions otherwise the contract will be null and void. Intoxication: This means that the parties to the contract should not be under the influence of any alcoholic product such as drugs or drinks at the time of making of the contract. The case of Blomley v Ryan can be a good example of Intoxication. In this case Blomley was to purchase a farm from Ryan and at the time of contract Ryan was under the influence of alcohol so the contact was not enforceable. Minors: The Australian law restricts the entry of Minors in the formation of the contract. So any contract made with the person under the age of 18 will be considered as voidable contract. (Clarke, 2016) In the given case of Hevvy and Traynor, nothing is mentioned about the state of mind of both the parties. So it is assumed from the scenario that both the parties have legal capacity to form a
No, Cindy cannot cancel the contract made by her while she was a minor because that time she was under 18 years old but at the moment she is 21year old, so according to the law she cannot break the law after 18 year old. If she cancel the contract when she was a minor, it is acceptable by court but not after she was above 18.
The article suggests that mutual intention should replace objective presumptions of intention to provide sufficient evidence for contract formations and argues that the Australian court system has a long way to go. It further investigates the different court hierarchies and examines the impact to them through different case law. The central argument presents that evidence of intention should be of utmost importance and considered in every case, negating a flat objective
Within the Social Contract Theory, living within a society requires us to have rules and laws. This gives people the groundwork for how people and governments cooperate. Individuals receive stability when they live in a social structure. This gives them security from other individuals that may want to do them wrong. In order for them to receive this protection, they have to give up some freedoms, such as being able to steal without receiving punishment. Individuals need to commit to helping make society secure, and happy.
A Theory of Justice is the magnum opus of 20th century social contract theorist and political philosopher, John Rawls. A bit of background into this work is that social contract theory had fallen out of favor with political scientists and philosophers since the last 18th century, with the success of the American Revolution and the apparent triumph of John Locke and Democracy. However, with the advent of modern globalization, the emergence of America as a superpower, but the growing concern of socio-economic disparity necessitated a revisiting of the social contract, what it means, how societies and governments were best constructed.
When it comes to contracts, there are certain elements or requirements, which need to be met in order for the contract to be valid. Defined, a contract is “an agreement that can be enforced in a court; formed by two or more parties who agree to perform or refrain from performing some act now or in the future” (Hollowell & Miller, 2014, p. 110). With contract law, there is the enforcement of promises made between two parties, even if made in private. Additionally if a promise is made, there is the possibility of the obligation falling into a moral liability rather than a legal liability. All in all, when it comes to business agreements, contract laws will apply to avoid any possible problems that may arise.
Crime can be described combination between both behavior and mental factors. This will prove incredibly crucial in the definition of crime in relation to mental illness. Many of those that commit crimes are not convicted due to their illness so it is important to note, for the purpose of this analysis, that all illegal activity is considered crime, regardless of conviction (Monahan and Steadman 1983).
Intention to create legal relations can be defined as follows. ‘An agreement will only become a legally binding contract if the parties intend this to be so. This will be strongly presumed in the case of business agreements but presumed otherwise if the agreement is of a friendly, social or domestic nature.’ Source (HNC unit 5 Business law course book) In determining whether the parties intend their agreements to be legally binding the court is guided by two presumptions. Parties to a domestic or social agreement do not intend to be legally bond. Parties to a business agreement intend to be legally bond. These are presumptions only and can be rebutted by sufficient evidence to the contrary. Domestic and Social Agreements Balfour v Balfour (1919) Merritt v Merritt (1976) Simpkins v Pays (1955) Business Agreements Jones v Vemons Pools (1938) Source (HNC Business law notes) One of the essential elements in the creation of a binding contract, this intention is implied by the fact that it is not expressly denied. If expressly denied (as in a so-called gentlemen's agreement) the contract may not be enforceable. Consideration {text:bookmark-start} {text:bookmark-end} If you look at a legal agreement or contract, you will generally see a phrase in the opening paragraph indicating that the parties agree on an amount of money or "other good and valuable consideration." The concept of consideration has a long history in the law, but simply means something of value. An exchange of consideration between the parties to an agreement is necessary fo...
One of the last remaining strongholds of classical contract law is the notion that contracts require offer and acceptance therefore, in order for a contract to become binding, offer, acceptance, consideration and intention to create legal relations must exist. However contracts are formed in different ways for each different circumstance. (Shawn Bayern, Offer and Acceptance in Modern Contract Law: A Needles Concept, 103 Cal. L. Rev. 67, 102 (2015)
A contract actually starts when the other party makes an offer (offeror), and then it is accepted by
(Lee and Detta, 2009) In this question, Roland was making an invitation to treat when he displayed the price tag on the vehicle. Actually, he is inviting customers to form an offer to him. When the customers consent to the price and discuss with Roland, both of them actually make the offer. In this situation, it depends on whether Roland wants to accept or not.
A contract is an agreement which has its specified terms and conditions between two or more parties in which there is a promise to do something in return for a benefit.
... The source of the defendant’s mental abnormality is the greatest point of distinction between all of the defendants. Whether the abnormality is internal, external or a diagnosed medical condition will play a significant role in which defence can be used. As defences, they are all used for a similar reason, and that is to eliminate or reduce liability for criminal offences.
A valid contract is an agreement including promises made between two or more parties with an intention of certain legal rights and legal responsibility that are enforceable. For there to be a contract – that must contain four essential elements- offer, acceptance, intention to create legal relations and consideration.
From elementary to high school and even college students are compelled to attend school all around the world. In schools students not only learn general education but learn a lot about themselves. It is said that in the first twenty years of an individual’s life are the years that the individual finds out who they really are. An individual’s moral beliefs are one of the most personal and complex pieces of that individual. There are several great moral theories that could be taught in school, but to only choose one is very difficult. Some of the most known moral theories are Utilitarianism, Virtue Ethics, Kantianism and even Social Contract Theory. All of these theories were developed by some of the most incredible philosophers of all time.
A contract is generally considered to be an exchange of promises or an agreement between parties which in due course legally binds the parties; this can be enforced by the English Law. A contract is always, referred to the basic foundations of Contract Law, which refers to promises being kept amongst two parties. It is clear that all people make contracts nowadays and do not even consider for a moment that they are forming contracts; these can be formal or informal, oral or written.