Contract law

Contract Law and Precedent

In the proposed scenario there are many factors which potentially affect whether an actual contract would exist. These include the distinction between an invitation to treat and an offer, the application of the postal rule and the circumstances when revocation may or may not be appropriate. There are also relevant case precedents that can be […]

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Questions and answers on contract law

In today’s business world contracts play an essential role – therefore it is of great importance to know what a contract is, how it is formed and what elements it must contain. “A contract is a legally binding agreement”(Thomas, 2001 p. 32), usually a commercial agreement based on the law of contract. There are several […]

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How effectively do you think those ‘piecemeal solutions’

When surveying Europe’s legal landscape, English law’s refusal to incorporate a general duty of good faith identifies it as somewhat of an oasis, standing in stark contrast to those around it. Yet in examining the net result of those ‘piecemeal solutions’ used in its place, is it truly so adrift? If, after all, these present […]

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It is only in the rarest circumstances that a court will deem

The common law doctrine of Frustration generally operates to discharge contractual obligations when, through no fault of either party, a supervening event occurs which renders performance of a contract physically, commercially or legally impossible, or where the obligations of the contract are radically different from those which were originally agreed. At first glance, it would […]

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Offer and Acceptance Case

First of all, it is essential to specify whether the message conveyed is an invitation to treat or an offer. According to Marson (2011) an offer ought to be a clarification of the terms that the other party must follow. In this case, Jock offers to sell 100 turkeys in exchange for £800 in cash […]

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Contract Law Essay

a) Before Katie enters into a contract with her builders it’s important that she is aware of the different types of business agreements available to her that will safeguard her interests. The agreements can be unilateral, bilateral and standard from contract. I will now explain to Katie in detail the use of each of these […]

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This question involves Offer & Acceptance

An offer is an announcement of a person’s willingness to enter into a contract. To be an offer, there must be more than an indication of an interest in making a contract. An offer is capable of being converted into an agreement by acceptance and must consist of a definite promise to be bounded, provided […]

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Maersk Line vs Court of Appeals Case Digest

Petitioner Maersk Line is engaged in the transportation of goods by sea, doing business in the Philippines through its general agent, Compania de Tabacos de Filipinas, while private respondent Efren Castillo is the proprietor of Ethegal Laboratories, a firm engaged in the manufacture of pharmaceutical products. On Nov. 12, 1976, Castillo ordered from Eli Lilly, […]

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Liquidated Damages vs Penalty: Are Causation and Loss Required

In a contract, the parties may name a sum to be payable in the event of breach. If such sum is a genuine pre estimate of loss it is termed liquidated damages, and if it bears no reflection on the loss suffered, it is termed a penalty. Courts are reluctant to enforce penalty clauses and […]

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The Basics of Contract Laws

We may not know it, but most of us have encountered contract agreements, whether it is in writing or in verbal agreement. Did you know that a simple task such as turning on the lights in your house is doing your end of the contract with the electric company? A contract is very important in […]

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