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law of contrac unit2,asssisgnment1 3part qeustion

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Introduction

THE NATIONAL ASSOCIATION OF LICENSED PARALEGALS 9, UNITY STREET, BRISTOL, BS1 5HH Tel: 0117 927 7077 : Fax: 0117 929 3887 E-mail: Legalnapl@aol.com HIGHER CERTIFICATE IN PARALEGAL STUDIES UNIT 2 - LAW OF CONTRACT ASSIGNMENT No:1 Name.............................................................................................................. Address.......................................................................................................... ........................................................................................................................ ...........................................................Post Code............................................. 1 Olive advertised in the "For Sale" column of the Classic Car Journal - "1949 Triumph Roadster. Good condition. 1 year MOT, �13,000". The advertisement gave her address and telephone number. Paul saw the advertisement on Friday night and immediately wrote to Olive at her home address, agreeing to pay the �13,000 requested. He posted the letter on Saturday morning. Quentin also saw the advertisement on Friday evening and telephoned. There was no reply but he left a message on the answering machine agreeing to buy the car for the asking price. Olive, who had gone away for the weekend, returned on Monday morning. She picked up Paul's letter and read it whilst listening to the messages on her answering machine, including the message from Quentin. On Tuesday she decided that she did not want to sell the car at all. Advise Paul and Quentin of any contractual obligations between themselves and Olive. 2. John agrees to meet Joan and Elizabeth for lunch at the Ritz Hotel in London. Joan and Elizabeth turn up but John fails to put in an appearance. ...read more.

Middle

A contract cannot come into existence merely because two parties have achieved a consensus. This is because whereas both parties want the same conclusion, there has been no specific acceptance of a specific offer. The contract will not come into existence until either A accepts B's offer to sell or B accepts A's offer to purchase. Q2) First and foremost in assessing Johns liability it is important to point out there must be an intention to create legal obligations between the parties. There are many agreements that exist where the parties do not intend them to be legally binding. These are usually contracts of a domestic or a social nature, between relatives or friends. Thus it could either be described as a void, voidable or unenforceable contract depending upon the circumstances. In regards Joan and Elizabeth holding John responsible for any losses that they may have occurred it is essential to recognise this 'meeting' would be considered to be a social arrangement and not legally binding. Thus issues regarding offer, acceptance and consideration would not arise. Q3) In assessing how the contractual capacity of a minor differentiates from that of an adult, primarily it is important to acknowledge that the law allows binding agreements to be entered into by any person. However, there are other groups which may include for example; mentally incapacitated persons, those suffering from excess of alcohol and vitally 'minors,' who, in normal circumstances, cannot enter into a binding agreement. ...read more.

Conclusion

In other words they are not set in concrete and the courts can, if they wish refuse to enforce them. This is a powerful signal to businesses and others to be careful when they are dealing with minors rather than adults. This was seen by may to be a bit one sided. In return Minors Contract Act 1987 allowed the return of goods purchased by minors to in some way compensate the adult who has perhaps entered into a contract without the knowledge that the other party is in fact a minor, thus the two key provisions of importance. Firstly, an adult who guarantees repayment of a loan for a minor must pay the balance if the minor fails in their repayments. If there is no guarantee by an adult, however the courts will not enforce repayments of a loan by a minor. Before the 1987 act the courts could not insist that an adult repay the loan. Secondly, restitution where goods that have been acquired unjustly may be handed back to the original owner. The wording of the act in this area however only says 'may' order restitution. It is upto the court to decide whether it thinks restitution is just. If the adult has put pressure on the minor then the court will have the power to avoid restitution. ...read more.

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