According to sweet & maxwell's contract law revision guide, an offer may be defined as a statement of willingness to contract on specified terms made with the intention that, if accepted, there will arise a binding contract. Case study 2: the case of the consultant's report in this case study, the procurement integrity act is called upon in order to make an ethical decision if i was the ceo. A contract is an agreement that is legally enforceable at law, whoever breaches the contract can be sued or monetary compensation or be force to carry out the contract for contract to be binding there must be offer, acceptance, consideration and intention to create a legal relationship. Question: 1st year - contract law - case study bigstore furniture ltd (bigstore) is a retailer of household furniture the company announced its summer sale on 1 july 2009 by placing the following advertisement in several national daily newspapers in the uk. Start studying contract law cases - offer and acceptance learn vocabulary, terms, and more with flashcards, games, and other study tools.
Offer and acceptance analysis is a traditional approach in contract law used to determine whether an agreement exists between two parties as a contract is an agreement, an offer is an indication by one person (the offeror) to another (the offeree) of the offeror's willingness to enter into a contract on certain terms without further. Business law case study on offer and acceptance this essay will discuss the case study by firstly identifying four elements of contract, then justifying duties of mr martin with applying the principles of pre-existing contractual duties. In contract law, an offer is a promise in exchange for performance by another party an offer can be revoked or terminated under certain conditions.
The judge went on to reject the verbal counter-offer because in manitoba the understanding of conveyance and lawyers generally is that in the case of an offer in writing made through a real estate broker or salesman, the normal and usual mode of acceptance is in writing. Law of contract 1872: contract offer, acceptance & revocation definition of contract: according to section 2(h) of the indian contract act, 1872 a contract is an agreement between two or more parties that is enforceable by law as a binding legal agreement.
Even if there is an offer and acceptance and valuable consideration a contract will not be enforced if it is uncertain or incomplete for example, an agreement to enter into a lease without agreement as to the term of the lease or the rent to be paid is uncertain, see whitlock v brew. Offer, followed by acceptance, is an agreement, if an agreement is enforceable by law, it is a contract offer by and to whom an offer must be made by a person legally competent to contract or on his behalf, by someone authorised by him to make the offer. Business case study of contract law as per the law of contract a contract becomes valid if the acceptance for the offer is made without coercion or during.
Contractual agreement has traditionally been analysed in terms of offer and acceptanceone party, the offeror, makes an offer which once accepted by another party, the offeree, creates a binding contract. However, there are other means of acceptance in contract law let's explore a few ways in which offer and acceptance occurs sans an expressed agreement: a purchase order and the mailbox rule. Area of law according to the indian contract act, 1872 the case revolves around the following areas of law: offer and acceptance law of revocation of offer 6.
Offer and acceptance (acquisitions law) overview acquisitions law is the nourishment that keeps commerce flowing for the benefit of all mankind and a common understanding of what makes an offer and acceptance into a contract is the secret sauce. If the acceptance was effective from the time the telex was sent the contract was made in holland and dutch law would apply if the acceptance took place when the telex was received in london then the contract would be governed by english law. An introduction to the study of contract law normile v miller was the counteroffer a rejection of the original offer did the deadline for acceptance become. An acceptance of the offer, in ignorance of the offer, is no acceptance and, therefore, no valid contract can arise 6 statement of price : if a party makes a statement of price, it cannot be taken as an offer to sell at that price.