CONTRACT LAW 2012/2013 CONTRACT LAW Content: Formation of contract. Vitiating factors. Terms. Privity of contract. Discharge of contractual obligations. Remedies. Limitation of actions. BEA1003/BEA1003A 2 Contract FORMATION OF CONTRACT A contract was defined in the 19th century by Sir Frederick Pollock as “A promise or set of promises which the law will enforce”. The requirements of a valid contract are: 1.Agreement. 2.Consideration. 3.Capacity . 4.Intention to create legal relations
Words: 6626 - Pages: 27
The aim of this essay is to discuss whether it is appropriate to consider the employment relationship as a contract, in the sense of voluntary between the two equal parties. Fox (1974:183) argues that it is inappropriate to consider the employment contract is equal and the employment relationship is merely a ‘brute facts of power’. With reference to Fox’s statement, this essay will discuss the nature of employment relationship, the influence of key institutions and their impact for employers and
Words: 1680 - Pages: 7
Intro to law Chapter 1 Business law is divided into: - Tort law – injury - Contract law - Business (sole, partner, corporation) - Real estate - Intellectual - Environmental 3 functions of the law 1. Settling disputes 2. Establishment of rules 3. Protection Sources of law - Case law – from recorded judgement – precedent - Statues – passed by government - Statue law – judicial understanding and application Stare decisis: to let a decision stand 1. From the judges own 2. From
Words: 1901 - Pages: 8
believes that the government has a responsibility to keep a high standard of living through certain functions like defense, education, and public utilities and set certain laws regarding economic policy in order to keep in check the “game” of economics. (Friedman 25) Friedman suggests that the government pass “a legislated rule instructing the monetary authority to achieve a specified rate of growth in the stock of money.” (Friedman 54) Besides serving this purpose, Friedman believes the government’s
Words: 1243 - Pages: 5
and a principle of existence is identified at the time of contracts. The legal capacity principle at the time the act was carried out and at the time of ratification is identified. It appears to have no reason why AL never explained the involvement of Chris. Chris has fulfilled his duties as an agent and the amendment will not be enforceable in court if Al makes a contract with Ben for Chris to be ratified, If Ben is not happy to contract with Chris. Ben has a right of liability, his liability
Words: 453 - Pages: 2
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Level LAW Paper 3 Law of Contract Additional Materials: * 9 8 7 2 3 4 4 9 6 9 * 9084/32 May/June 2012 1 hour 30 minutes Answer Booklet/Paper READ THESE INSTRUCTIONS FIRST If you have been given an Answer Booklet, follow the instructions on the front cover of the Booklet. Write your Centre number, candidate number and name on all the work you hand in. Write in dark blue or black pen. Do not use
Words: 811 - Pages: 4
investor to keep the money within the scheme. Charles Ponzi, the ultimate “creator” of the Ponzi scheme started his ventures in 1919. Using the postal system, Ponzi sent international reply coupons that were exchanged for postage coupons back to the country the letter was being sent. Since the currency rate fluctuated, Ponzi was able to purchase postal reply coupons in a foreign country and swap them in the United States for a profit, which was perfectly legal. However, Ponzi started to secure investors
Words: 1206 - Pages: 5
The coursework of Law for Management The issue in the scenario is whether Anna had built a contract with Bella, Carol and Dora based on the Anna’s advisement in the window of newsagent and Bella, Carol and Dora’s different ways of offering to buy the club. It is referred to formation and obligations of contracts. To establish a binding obligation in contract, key component parts of a contract which are offer, acceptance, consideration, intention to build legal relationship and capacity must be
Words: 1537 - Pages: 7
Assignment 1 – M1 Analyse the impact of the requirements for a valid contract in a given situation Aled, aged 19, decided he wanted to set up in business. He was planning to buy and sell items both on the internet and by mail order. Aled agreed with his father, Brian, that they would convert a spare room in the family home into a ‘business centre’ with telephone lines, internet and fax facilities and a selection of office furniture and equipment. Aled then entered into the following agreements.
Words: 1415 - Pages: 6
States Postal Service is to create “a free flow of information between citizens and their government as a cornerstone of freedom, often spoke of a nation bound together by a system of postal roads and post offices.” (Longley 2013) Postal offices are forbidden to open any letters unless it is undeliverable The United States Postal Service (USPS) is responsible for providing postal services for the United States to all Americans no matter the geographical location. The United States Postal Service
Words: 2356 - Pages: 10
