...How justified is the fact that Parole Evidence Rule has outlived its importance in the modern day life? The parol evidence rule has long been a controversial element of the common law system. It has been frequently attacked for the injustices that result from its application and sometimes even for a lack of rationality in its justification. This exposition results from the conviction that useful light can be shed on the problems surrounding the parol evidence rule by an examination of its status in other common law jurisdictions, where it has also been the subject of constant dispute throughout the previous half century. The written document produced by the parties is merely a memorandum of the agreement that they have reached. Consequently, when a court attempts to resolve a dispute regarding the agreement, the written document is construed as persuasive evidence of what was agreed, and can be contradicted by other evidence tending to show that the actual agreement was something different. By contrast, the objective theory of contracting holds that the written document is in fact the agreement itself, so that in attempting to discern the nature of the bargain between the parties it is improper to admit evidence that contradicts the written document. Since the actual intentions of the parties are not being considered by the court, evidence that would tend to demonstrate that their intentions were something other than the written document reflects is simply irrelevant. ...
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...types of business agreement and the importance of the key elements required for the formation of a valid contract 9 1b. Analyse the scenario from the perspective of the law of contract. Apply the rules of offer and acceptance in a given scenario, also considering any impact of new technology 11 1c. Assess the importance of the rules of intention and consideration of the parties to the agreement 12 1d. Explain the importance of the contracting parties having the appropriate legal capacity to enter into a binding agreement 14 2a. Analyse specific contract terms with reference to their importance and impact if these terms are broken 16 2b. Apply and analyze the law on standard form contracts 17 References 19 1a. Explain the different types of business agreement and the importance of the key elements required for the formation of a valid contract To implement the business activities with others, an person and even an organization needs make the legal contracts. The contract is considered as a versatile legal tool which guarantees legal enforcement of its terms. There are four popular types of business agreements such as sales agreements, employment agreements, independent contractor agreements and confidentiality agreements (1). * Sales agreements: this is a type of business contract between merchants and consumers. It is considered as a binding contract which binds the related parties if they sign the contract. The parties will be responsible for implement...
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...Business Agreement Task 1 P1: Explain different types of business agreements and the importance of key elements required for the formation of a valid contract. Business Agreement Business Agreement is the mutual understanding or assent of two or more than two legally competent parties. It is done or agreed upon on the relative duties and rights regarding current or future performance. An agreement typicallydocumentsthe give-and-take of anegotiated settlementand a contract specifies the minimum acceptablestandardofperformance. Types of Business Agreement There are various types of business agreements depending upon the nature, type and operations / activities of the business. These types can be categorized into following categories based on the above stated criteria. * General Business Agreements * Business Employment Agreements * Leases * Sales Agreements The General Business agreements contain Franchise Agreement, agreement with different agencies for advertising, insurance agreements, agreement on not taking legal actions, Settlement Agreement, Stock Purchase Agreement, business partnership agreement, privatization agreement etc. The different types of Business Employment Agreement are Employment Agreement, Consultancy agreement, Sales Representative Agreement, Employment Separation Agreement, Reciprocal Nondisclosure Agreement etc. Leases are of different kinds like Real Property Lease, Equipment Lease etc, and same is the case with Sales agreements, it also have...
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...any first edition copies of the Bruce book and told him that he was willing to pay $1,500 for one. Ben agreed to sell a Bruce first edition to Dan and immediately phoned Chris to say that he would accept his original asking price of $1,000. However, Chris informed him that he had already sold the book to Eve for $1,250. Subsequently, Ben wrote to Eve offering her another rare book for $1,000. Eve replied to Ben by return of post stating that she agreed to buy the book on offer at his asking price. However, after posting the letter of acceptance she decided that she had already spent too much money on books and sent Ben a fax telling him to ignore her letter when it arrived. Explain the different types of business agreement and the importance of the key elements required for the formation of a valid contract . (1 a) You are required to...
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...Table of contents Abstract 3 Introduction 4 ESSENTIAL ELEMENTS OF A VALID CONTRACT 5 Explain different types of business agreements and the importance of key elements require for the formation of a valid contract. 5 Apply the rules of offer and acceptance in the given scenario, also considering any impact of new technology. 5 Assess the importance of the rules of intention and consideration of parties to the agreement by applying. 7 Explain the importance of the contracting parties having the appropriate legal capacity to enter into a binding agreement 7 SPECIFIC TERMS IN A BUSINESS CONTRACT. 8 Analyze specific contract terms with reference to there importance and impact if these terms are broken using Mr. John’s contract for purchase of computers. 8 Justify the selection of methods/ techniques that Mr. John should use for the termination of contract with Mr. Bobs Company. 8 Apply and analyze the law on standard form contracts in the given scenario 9 Discuss the effect of exemption clauses in attempting to exclude contractual liability in the given scenario 11 LAW OF TORT IN BUSINESS ACTIVITIES AND PARTICULAR FORMS OF TORTIUOS LIABILITY. 12 Describe the nature of general tortuous liability comparing and contrasting to contractual liability 12 Explain the liability applicable to an occupier of premises in the given scenario 13 Discuss the nature of employer’s liability with reference to vicarious liability and health and safety implications taking Mr. Bobs Company...
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...Elements of the law of contract Catharine MacMillan Richard Stone 2009 LLB 2650040 Diploma in Law 2690040 page 2 University of London External System This subject guide was prepared for the University of London External System by: u Catharine MacMillan BA (Victoria) , LLB (Queen’s, Canada), LLM (Cantab), Lecturer in Law, School of Law, Queen Mary, University of London and u Richard Stone LLB (Soton), LLM (Hull), Barrister, Professor and Head of Law, Lincoln Law School, University of Lincoln. In the 2004 edition of this guide Catharine MacMillan was primarily responsible for Chapters 1–2, 4–5, 7–8, 10–14 and 16–17. Richard Stone was primarily responsible for Chapters 3, 6, 9 and 15. Catharine MacMillan was responsible for the 2009 revision. This is one of a series of subject guides published by the University. We regret that owing to pressure of work the authors are unable to enter into any correspondence relating to, or arising from, the guide. If you have any comments on this subject guide, favourable or unfavourable, please use the form at the back of this guide. Acknowledgements Figure 15.1 has been reproduced by kind permission of: u Figure 15.1: © Illustrated London News Picture Library. Photographs © C. MacMillan, 2003 Publications Office The External System University of London Stewart House 32 Russell Square London WC1B 5DN United Kingdom www.londonexternal.ac.uk Published by the University of London Press ©...
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...2/3 State Court System * Supreme court * County court * Magistrate court * tribunal court Contract defined * Agreement that the law will enforced * offer+ acceptance + intention + consideration = contract * contract law is a case law Types of Contract * Simple contract (written, partially written, partially spoken, Spoken) * Formal Contract Week 4 Contract definition * Offer and acceptance together constitute agreements, Clarke v Earl * Two presumptions test for the existence of intention 1st presumption is domestic or social in nature (do not usually involve legal relationship, not legally bounding) domestic contract: {Balfour v Balfour} {Cohen v Cohen}, {Murphy v Simpson} Social agreement: Coward v Motor Insurers Bureau 2nd presumption is the commercial in nature( this can be legally binding) Edwards v Skyways Rebutting the presumption of Intention * {McGregor v McGregor}, {Merritt v Merritt}, {Wakeling v Ripley}, {Riches v Hogben} * The court to test for intention, they would apply an objective test (objective test, by using reasonable person test Ermogenous v Greek Orthodox Community Offer * An offer is a promise to do or refrain from doing something in exchange for something from another party * Invitation to treat is only an indication of a person readiness to listen to an offer E.G...
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...Task 1 “A contract may be defined as an agreement which legally binds the parties”. There are some key elements which are essential to form a valid and enforceable contract by the law. 1. Agreement First of all, a contract must contain an agreement. An agreement is made of an offer and the acceptance of that offer. An offer is defined as “a definite promise to be bound on specific terms”. The person who makes an offer is the offeror and the person to whom the offer is made is referred as the offeree. In other words, the relationship between the offeror and the offeree is determined through the communication made between them which indicate some specific terms. The offeror is prepared to be bound by these terms if the offeree accepts them.An offer can be express or implied from conduct (see case Textile Holdings Ltd v Spencer plc 1897).It is necessary to differ between an offer and an invitation to treat because an invitation to treat is only some kinds of a preliminary stage in forming an agreement where one party invites the other to make an offer. Usually, an offer need to be definite (although can be made to the public at large – see case Carlill v Carbolic Smoke Ball Co 1893) and addressed to a specific party while an invitation to treat can be indefinite. “Acceptance is the unqualified agreement to the terms of the offer”. In other words, once the offeree has accepted an offer then he is unconditionally agreed to the precise terms of that offer. The acceptance can...
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...1: Identify the principles or issue of law The first step discusses about the element of agreement required for the formation of a contract. STEP 2: Explain the rule(s) of law relevant to the principle/area/issue of law Identified in step one with reference to authority An agreement is a lawfully enforceable understanding between two or more persons who are known as the "gatherings" to the agreement. This implies that the court will implement the assention. Contracts make lawful commitments. Commitments comprise of relating rights and obligations. Rights and duties made by assention are portrayed as contractual rights and callings to recognize them from rights and duties that come up in different ways, e.g. by behavior. Contractual rights and duties exist between persons and are accordingly called 'individual'. Other sorts of right, for example privileges of proprietorship are called true rights (being rights that exist over a thing). Contractual rights and duties might be released by voluntary performance. If there is a failure to perform the contract, this is considered as a breach of a contract that is a rupture of agreement. A breach of contract provides the legal basis for bringing an action in court to enforce the agreement. In other words, a breach of contract is a ‘cause of action’. As a rule, individuals have a tendency to do what they have bound themselves by contract to do, in light of the fact that it is advantageous, it manufactures trust and it...
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...friend or colleague to have lunch with us and they agree. There is an offer and an acceptance. If we were to be asked if we are suing the friend or colleague for breach of contract our answer would be an emphatic no. (Why would we give an emphatic no? What is the common sense reason for this?) Before going further into this scenario lets look at a different one. We make a booking at a hotel. We fail to turn up. The hotel having reserved a room for us has been unable to sell the room to anyone else. If the hotel were to sue us we would accept the fact because there is an intention to create legal relations.Why? Because it is a business relationship. In the same way if the hotel had sold our room we would consider legal action of our own. A legally binding contract needs offer, acceptance, intent to create legal relations and consideration. It is the presence of intent to create legal relations and of consideration that converts a social agreement into a legal agreement. Offer Characteristics of an offer Must be certain : Gunthing v Lynn 1831 Must be differentiated from an enquiry : Harvey v Facey 1893 Must be differentiated from an intent to trade: Pharmaceutical Society of Great Britain v Boots 1953 May be to world at large (sometimes termed a unilateral offer) : Carlill v Carbolic Smokeball Co. 1893 During the build up to an agreement there is often a period of negotiation which differentiates an offer from negotiations. e.g. Harvey v Facey and must be distinguished from...
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...Table of Contents TABLE OF FIGURES 1 Introduction 3 1.1: IMPORTANCE OF THE ESSENTIAL ELEMENTS OF THE CONTRACT. 4 1.1.1. Agreement 4 1.1.2. Consideration 5 1.1.3. Intention to create legal relation 6 1.2: IMPACT OF DIFFERENT TYPES OF CONTRACT 6 1.2.1. Face to Face 6 1.2.2. Written contract 7 1.2.3. Distance Selling 7 1.3. ANALYSIS OF TERM IN CONTRACT 8 1.3.1. Condition 8 1.3.2. Warranty 8 1.3.3. Innominate term 9 1.3.4. Express 9 1.3.5. Implied 10 1.3.6. Exclusion Clauses 10 2.1. APPLICATION OF ELEMENTS OF CONTRACT IN 1ST SCENARIO 10 2.1.1. Agreement. 10 2.1.2. Consideration 11 2.1.3. Intention to create legal relations 11 2.2. APPLICATION OF ELEMENTS OF CONTRACT IN 1ST SCENARIO 11 2.2.1. The law on terms in the case study 1. 11 2.2.2. The law on terms in the case study 2. 13 2.3. EVALUATION OF EFFECT OF DIFFERENT TERMS 14 2.3.1. Condition 14 2.3.2 Warranty 14 2.3.3. Innominate Term 15 REFERENCE 16 TABLE OF FIGURES Figure 1: Composition of an agreement (Komma Naveen Kumar,2011) 5 Figure 2: Types of contract (Business Law,2013) 7 Figure 3: Innominate term 10 Introduction Vietnam JSC Software is a company that specializes in designing software applications for business organizations. The company has derived from applied outsourcing group and e-commerce for the US market in 2000 and it register business in 2003 and continue growth with high speed during recently years. JSC Software is evaluating to be a young...
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...Requirements of acceptance Acceptance must correspond to offer - Offeree must have knowledge of and act in reliance to an offer Page 9 Page 9 Page 10 Page 12 Page 13 Page 14 Page14 Page14 - A counter offer is not acceptance - Acceptance must be unqualified - Mere enquiry does not constitute acceptance Notification to the offerer of the fact of acceptance - Method of acceptance a) Method of acceptance stipulated by offer b) Acceptance by silence c) Acceptance by conduct - Instantaneous communication: Acceptance must be communicated a) General rule b) Meaning of instantaneous communication - Postal acceptance rule a) Statement of the rule b) Policy behind the rule c) To what communication does the rule extend d) Where is the rule displaced e) Revocation of acceptance prior to receipt Acceptance in unilateral contracts - Acceptance commonly by conduct - Withdrawal of an offer after acceptance has commenced Who may accept an offer? Contract...
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...must have knowledge of and act in reliance to an offer Page 9 Page 9 Page 10 Page 12 Page 13 Page 14 Page14 Page14 - A counter offer is not acceptance - Acceptance must be unqualified - Mere enquiry does not constitute acceptance Notification to the offerer of the fact of acceptance - Method of acceptance a) Method of acceptance stipulated by offer b) Acceptance by silence c) Acceptance by conduct - Instantaneous communication: Acceptance must be communicated a) General rule b) Meaning of instantaneous communication - Postal acceptance rule a) Statement of the rule b) Policy behind the rule c) To what communication does the rule extend d) Where is the rule...
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...of Ian as a director of the company is one of utmost importance. Directors are tasked with managing the company in such a way as to maximise the benefits to shareholders and other stakeholders, whilst ensuring that the company complies with all applicable laws and regulations. It is, therefore, a serious matter for the company if a director is underperforming or if he or she is at odds with the strategies which the majority of the company’s management have adopted. In such circumstances, there may be no option for the company other than to seek the removal of such a director from office. In many companies, the power to remove a director from office is granted to the board of directors or to a majority shareholder under the company’s Articles of Association. For these companies, removing a director will be a relatively straightforward matter, usually requiring the board or majority shareholder to simply serve written notice on the director in question. For companies which do not have these powers enshrined in their Articles, company law provides a statutory procedure to allow shareholders to remove a director by passing an ordinary resolution at a general meeting of the company. Statutory Procedure The procedure for removing Ian by ordinary resolution is set out in sections 168 and 169 of the Companies Act 2006. A shareholder wishing to propose a resolution to remove a director must give special notice of his intention to the company. On receipt of the special notice from...
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...[pic] [pic] | | |UK COLLEGE OF BUSINESS AND COMPUTING | |Course title |Unit number and title | |BTEC HND IN BUSINESS | Aspects of Contract and Negligence for Business | | | | |Student name Student ID |Assessor name | |Abu Rahman Hndb 5969 |Nathanial Owusu Frimpong | |Date issued |Completion date |Submitted on | |20-03-2014 |19-03-2014 |21-03-2014...
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