A contract is a legally binding agreement. It is not always easy to establish whether the basic requirements of a contract, such as offer and acceptance, the necessity or otherwise of consideration, the capacity of the parties, the reality of their consent, and so on, exist. Dicey and Morris lay down a simple rule, that ‘the formation of a contract is governed by that law which would be the proper law of the contract if the contract was validly concluded’. In Malaysia, the essential elements of a contract are Offer, Acceptance, Intention to create legal relations, and Consideration. 1 Offer The first element in a valid contract would be offer.
There are five main stages to be followed during the redundancy process: Stage 1: Preparation. Before starting the redundancy process it is required to assess its real necessity and is there any option to prevent it.If it looks that it's necessary then we have to define the time frame and prepare all necessary documents. Stage 2: Selection. In this stage, the people are selected who are considered for redundancy. It’s necessary to define the clear criteria for selection of those individuals.
A discretionary trust or power the possible beneficiaries and property is more fluid. This is why it is crucial for the courts to be able to rule undoubtedly who is in the class of beneficiaries and what they are to receive. Fixed trusts, also, many times deal with the issue of successive interest where there can be several remaindermen the courts must be able to identify them based on the information given in the trust . The IRC v Broadway case gave the complete list test for fixed trusts in which the class of beneficiary must be conceptually and evidentially certain as to for a list of beneficiaries. IRC v Broadway dealt with a trust for employees of the settlor, his wife and selected others.
The classic definition of consideration was adopted by Lush J in the case of Currie v. Misa where he stated: ‘’A valuable consideration, in the sense of the law, may consist either in some right, interest, profit, or benefit accruing to the one party, or some forbearance, detriment, loss, or responsibility, given, suffered, or undertaken by the other.’’ Consideration is an essential part of English contract law and it is used to define whether a contract is legally enforceable. Both parties must provide something in exchange of the other’s promise. If a contract is made by deed there is no need of consideration because there is a document containing promises. Furthermore, it must be noted the difference between unilateral and
In the process the interests that the parties carry or the benefit that both the parties make is defined as consideration. The contracts come into existence by the law when going through these stages the terms and conditions are congruent with the conditions of enforceability which are laid down in the law. These conditions make the contract a legal binding on both the parties. The process of communication of the acceptance is also crucial in the process because sometimes there are conditions laid down by the offeror which have to be followed while accepting the offer. This is the area where the rule for posting comes into play.
4.3 Operationalisation of the theoretical framework Having selected a case design and cases, this study turns to the operationalisation of the variables presented in the theoretical framework. The following section introduces the measurement tools for the main variables and the mechanism. In line with the method of structured, focused comparison, these tools consist of a set of general questions and indicators that aim to study observable features of the variables and provide comparable results. Attention has been paid to the aspect of validity. 4.3.1 Operationalisation of the independent variable Drawing on the arguments of the theoretical framework, this study's independent variable (X), citizenship model, is understood as a dichotomous
Intention to create legal relationship is a concept whereby it aims to ensure that two parties have made an agreement with showing an intention to enter a legal relationship based on the nature and context of negotiations, so it will be enforceable by law. If there is no intention to be legally bound contained in their agreement, then it will not be considered by the courts as a contract. There are (2) two types of agreements that mostly often use in the law, which are Social and Domestic Agreements, and Commercial and Business
2.2. ISSUES RAISED UNDER THE CASE • Whether an offer made from one place which requires that it be concluded in some other third place satisfies the requirements of contract law. • Whether the offer is accepted, which is made through