A contract is a legally binding agreement between two parties that legally doesnt necessary have to be in writing, many of these contracts are known as simple or parol contracts.
Law, Business and Society a) A contract is a legally binding agreement between two parties that legally doesn't necessary have to be in writing, many of these contracts are known as simple or parol contracts. For a contract to initially come into being a few features are required to exist, these features are: ) An offer 2) An acceptance 3) Consideration 4) Intention to create legal relations As stated, a contract doesn't have to be in writing to actually be legally binding as this is the case with the majority of contracts. On the other hand when difficult contracts are being established, clients generally prefer to have the contents of contract in writing instead of settling the terms by word of mouth. Some contracts are obligated to be in writing, contracts concerning the sale of land or a client wanting to obtain credit or a client wanting to be the guarantee of another party's debt, are required to be in writing. The statement of terms between two party's prepared to do business with one another (these party's being an offeror and an offeree) are defined as the offer. An offer or business agreement can either be: -Bilateral: when a promise is made in return for another promise -Unilateral: when a promise is made and return a specific act is completed (Adams, A (2010). Law for business students. 6th ed. London: Pitman Publishing imprint. 64-65.) i) (case of
Criminal Law - Essay - Non-pecuniary loss
"The law on damages for anxiety, disappointment and so on consequent upon breach appears to have travelled a full circle from the holiday cases of Jarvis and Jackson and back to the principles in these cases." Discuss. The law is not static and certain areas of law have been subject to much change. One of these areas, the law on damages for anxiety and disappointment in contract law, will be the subject of this essay. In particular, the changing scope of the importance of a contract's object being pleasure or relaxation in order to be able to reward damages for mental distress will be examined. This essay will firstly explore the origin of the general rule from the case Addis v Gramophone Co Ltd1: that damages are not available for non-pecuniary losses. Then, the so called 'holiday cases' Jarvis v Swans Tours Ltd2 and Jackson v Horizon Holidays Ltd3 which gave rise to some exceptions to the general rule laid down in Addis will be covered. Following this, the various cases which changed the scope for awarding such damages since Jarvis and Jackson in the 1970s up to the present law under Farley v Skinner4 will be discussed, forming the main body of the essay. It will ultimately be argued that the law has now, since the ruling of Farley, arrived in a very similar state to the one it had been in the 1970s. Finally, it is submitted that the development of this area of law has
Which two aspects of the doctrine of consideration are most incongruent with common sense and commercial practice? Should this area of law accord with common sense and commercial practice?
CONTRACT LAW LAW 206 WORD COUNT: - 3100 REGISTRATION NUMBER: - 0002 1612 8 022 ESSAY TOPIC: WHICH TWO ASPECTS OF THE DOCTRINE OF CONSIDERATION ARE MOST INCONGRUENT WITH COMMON SENSE AND COMMERCIAL PRACTICE? SHOULD THIS AREA OF LAW ACCORD WITH COMMON SENSE AND COMMERCIAL PRACTICE? WHICH TWO ASPECTS OF THE DOCTRINE OF CONSIDERATION ARE MOST INCONGRUENT WITH COMMON SENSE AND COMMERCIAL PRACTICE? SHOULD THIS AREA OF LAW ACCORD WITH COMMON SENSE AND COMMERCIAL PRACTICE? It is generally accepted within the law of contract that the ideal[s] of contractual fairness and liberty should prevail in contractual disputes. Central to these ideals is the doctrine of consideration and the principles within this doctrine such as, the lack of adequacy needed for consideration and the rules derived from both Stilk v Myrick [1809] 2 Camp 317 and Esp. 129 and Williams v Roffey [1991] 1 Q.B. 1. Rationality and commercial practice it could be argued have been shunned in favour of upholding some of these principles. Using adequacy of consideration and the principles developed in Stilk v Myrick and Williams v Roffey I shall argue why these two aspects are most incongruent with common sense and commercial practice but should be maintained to uphold contractual fairness. I perceive these two aspects to be most incongruent with common sense and commercial practice. In relation to adequacy of
Offer and Acceptance
(a) Jenny sent a letter to Sarah on September 1st, offering to sell her car for £3,000. Sarah posted her reply on September 6th, accepting Jenny's offer. On September 7th Sarah changed her mind and telephoned Jenny to tell her she would not be able to accept the offer. Jenny, who had not then received Sarah's letter of acceptance, insisted that Sarah could not withdraw her written acceptance and that she was therefore contractually bound to purchase the car. Advise Sarah. Jenny's letter to Sarah constitutes an offer to sell her car for the sum of £3000. Sarah's letter in reply constitutes the acceptance of that offer so that a contract between the two forms on the agreed terms. The postal rule states that an acceptance takes effect so that there is a binding contract from the moment the acceptance is put into the hands of the postal service1. Therefore, the current legal position is that Sarah is contractually bound to purchase the car; her purported retraction of acceptance is ineffective and by making it she is in breach of contract. It is submitted, however, that she should not be. By demonstrating the inadequacy of the vast majority of the reasoning in support of the postal rule Evans2 argues convincingly that to avoid unfairness in many situations the single postal rule needs to be replaced by individual rules, each dealing with its own situation, to better protect
Explain what judges take into account and what they ignore in deciding whether or not the lack of consideration is fatal to the existence of a binding contract.
Contract Law Coursework Rajiv Pandya S/N 05832865 BA (Hons) Law With Accounting Year 2 i) Explain what judges take into account and what they ignore in deciding whether or not the lack of consideration is fatal to the existence of a binding contract. A contract can be defined as a legally binding agreement between two parties, it can be written, verbal or inferred by conduct. Consideration is a vital requirement to any contract, it can be defined as "an act or forbearance of one party, or the promise there of, is the price for which the promise of the other is bought, and the promise thus given for value is enforceable1". Basically it is the price paid by one party for the promise of the other party to carry an action to fulfil the contractual obligations. It is generally accepted by the courts that there must be some economic value to the consideration, "a valuable consideration, in the sense of the law, may consist of either some right, interest, profit or benefit accruing to one party, or some detriment, loss or responsibility, given, suffered or undertaken by the other2". Judges when deciding on the presence of consideration must take into account the adequacy of the consideration as well as its sufficiency. Judges need to distinguish between gifts and a consideration, which seeks to support a promise made by one party. The doctrine of consideration states that the
Brief description regarding the case B asically, this situation starts with the offer of a contract to build a factory at the cost of RM 500,000 from Mario Ltd to Jackie Ltd on 1st March 2010. In the offer, Mario Ltd requested the reply should be sent i
Introduction - Brief description regarding the case B asically, this situation starts with the offer of a contract to build a factory at the cost of RM 500,000 from Mario Ltd to Jackie Ltd on 1st March 2010. In the offer, Mario Ltd requested the reply should be sent in the return of post. However, a mistake in the address of the letter caused the letter did not reached Jackie Ltd until 6th March 2010.After the letter received, Jackie Ltd replied that they agrees for the offer. The letter then was posted at 1 p.m on 6th March 2010. Mean while, Mario Ltd received an offer from Bobby Ltd stating that they can build the factory at the cost of RM 450,000. Then, Mario Ltd contacted Bobby Ltd on 5th March 2010 and came up with an offer with the amount of RM 400,000. After Mario Ltd hearing nothing from Jackie Ltd, Bobby Ltd agreed for the offer. Later on, on 6th March 2010, a fax was sent by Mario Ltd to Jackie Ltd stating that the offer of 1st March 2010 was cancelled. The fax was received on Jackie Ltd's fax machine at 12.45 p.m on the same day, which was 6th March 2010. However, the fax not read by anyone until 5 p.m on the same day. So, the problem arise in this situation whatever the contract formed Jackie Ltd with Mario Ltd or between Bobby Ltd and Mario Ltd. One of the notable things we have to consider in this case is there was no any date fixed for the acceptance to
The classic definition of consideration
'The classic definition of consideration is that it may consist of some benefit accruing to one party or some detriment suffered by the other. In truth, however, the courts are inconsistent in their approach in identifying a benefit or detriment. They simply enforce a promise when they think there is a good reason to'. Discuss. The law of contract has three main labels used as mechanical devices to establish legally enforceable agreements; namely offer, acceptance and consideration. Lord Wilberforce said1: "English law having committed itself to a rather technical and schematic doctrine of contract, in application takes a practical approach, often at the cost of forcing the facts to fit uneasily into the marked slots of offer, acceptance and consideration". This essay discusses the historical development of consideration, what principles are integral to the doctrine and how courts have inconsistently 'forced the facts to fit'. In concluding, a brief comparison will be made with French law. It must be noted that consideration is only a requirement for simple contracts; that is contracts made without seal or deed2. 'It is said that promises given without value and in the form of a deed may be 'rashly made'3. Lush J in Currie v Misa (1875)4 defined consideration as: "some right, interest, profit or benefit accruing to one party, or some forbearance, detriment,
What roles, if any, do fairness and unfairness have in the English law of contract?
What roles, if any, do fairness and unfairness have in the English law of contract? Although fairness is difficult to define, it may be taken to mean the treatment of people without discrimination. Rawls (1971) posited that in some contexts, fairness is attributed to procedures. Economists believe that, in theory, everything in the contract can be, and is, allowed for in the price. An unfair contract may be defined as one in which the price is grossly excessive or deficient, or is simply an unequal exchange (Atiyah, 1995). Fairness in contract law can be distinguished into two areas - procedural fairness and substantive fairness. Procedural fairness concerns the fairness of the processes by which contracts are made, whereas substantive fairness concerns the fairness of the results or outcome of the contract. Atiyah expressed that the ideas of procedural and substantive fairness "feed upon each other" (1995, p.389). As they are intertwined, it is hard to draw a line between them - it is hard to imagine a fair result without a fair procedure. Atiyah (1995) analogises contracts to a game or contest, with rules designed to regulate the way in which the game is conducted. These rules must be fair if the game is to be perceived as fair - the rules must apply equally to both sides. He elaborates by likening the law to a neutral, impartial umpire which interprets those rules. In
The difficulty surrounding the existence of the parol evidence rule, is exemplified by the Law Commission Reports of 1976 and 1986;
The difficulty surrounding the existence of the parol evidence rule, is exemplified by the Law Commission Reports of 1976 and 1986; over ten years, two contrasting recommendations were issued on the validity of its functions and raison d'être. In order to assess the desirability of abrogating1 or conserving2 the parol evidence rule in English law, it will be first necessary to examine the statement of the rule before considering the arguments in favour and against the abolition of the rule. It will also be necessary to examine the scope of the rule and trends in other jurisdictions in order to come to a reasonable decision. In essence, the effect of the parol evidence rule is to exclude extrinsic evidence that would add to, vary or contradict the terms of a written agreement3. Thus, the rule can only be applied where the parties have entered a written contract4. The rule has no application until it is determined that the terms of the parties' agreement are wholly contained in the written document.5 The raison d'être of the rule is said to be the promotion of certainty; that is to say, once the parties have reduced the contract to writing they should be bound by the writing and the writing alone6. This prevents one of the parties from alleging that there were other terms that were never incorporated into the final document. The parol evidence rule, as traditionally applied,
Postal rule was an arbitrary choice in the 19th Century. Modern technologies make it redundant. Therefore, it should be abandoned as an obstacle to fairness in contract law.
Name: Katya Varbanova Do not put your name on any other page This coursework will be assessed in accordance with The Liverpool Law School's Assessment Code Of Practice and the University's Examination Regulations. I confirm that I have read and understand the definitions of plagiarism, collusion and the fabrication of data as described in the University's Code of Practice on Assessment. I confirm that I have not committed plagiarism or fabrication of data when completing this submitted piece of work, nor have I colluded with any other student in the preparation and production of this work. COURSEWORK SUBMISSION FORM MODULE : LAW 105 DEGREE CODE: MN11 YEAR OF STUDY: 2010/2011 SUBMISSION DATE: 10/01/2010 WORD LENGTH: 2491 STUDENT ID NO: 200730017 Be certain to include your student number on every page of this document; space provided in the header on the following pages. The page directly after this one should remain blank. You are also reminded to include your bibliography at the end of the coursework. COURSEWORK TITLE OR DESCRIPTION: Postal rule was an arbitrary choice in the 19th Century. Modern technologies make it redundant. Therefore, it should be abandoned as an obstacle to fairness in contract law. LEAVE THIS PAGE BLANK INTRODUCTION The postal rule was established by arbitrary choice and it was decided because some rule, that would regulate
