Meeting of the minds Essays

  • Case Study: Silence As Acceptance

    1049 Words  | 5 Pages

    Question 1: Silence as Acceptance What can be seen from the evidence on show there is no contract between Pat and Mingers Ltd. for the company has stated in the letter that they would take Pats silence as a form of accepting the contract, by doing this the company has unsuccessfully tried to create a new contract with their former client. Using silence as a form of agreement can only be used in a few ways: whether there has been a prior relationship existing between two parties in which it is “…customary

  • Importance Of The Postal Rule

    1533 Words  | 7 Pages

    SHOULD THE POSTAL RULE BE DISCARDED? Introduction The “Postal Rule”, commonly known as the “Mailbox Rule” is a principle of contract law. The postal rule will apply when the parties have agreed on the means of communication being carried out only through the postal system. This rule is different from the others, though, as it forms an exception to the general principles of the communication of acceptance. It originated in the English case of Adams v. Lindsell , in the year 1818. The postal rule

  • Explain The Client's Intervention In The Tender Process

    1533 Words  | 7 Pages

    1. a. Explain the client’s involvement in the tender process. Tendering is the process of making an offer, bid or proposal, or expressing interest to an invitation or request for tender. Organizations will seek other businesses to respond to a particular need, such as the supply of goods and services, and will select an offer or tender that meets their needs and provides the best value for money. The entire tender process for main contract works starts with the identification of the need to approach

  • Contract Law Elements

    1388 Words  | 6 Pages

    Section 10 (1) of the Contract Act 1950. Competency refers to the capacity of being an adult, having a sound mind and not forbidden by law to enter any contract example bankruptcy. This principle is based on Section 11 of the Contract Act 1950 which provides that “every person is competency to contract that is of the age of majority according to the law to which he is subject, and who is of sound mind, and is not disqualified from contracting by any law to which he is subject”. In Malaysia, the age of majority

  • Case Study Two: Sam Stevens: Legal Contract

    1934 Words  | 8 Pages

    this from being a legal contract if this was not stated when the contract was formed. Contractual capacity is a slight bit different and means that both parties must be within the legal age limit, sound mind and legally able make the binding contract. As far as we know, they are both in sound mind and able to commit to this agreement. Therefore, this would be legal if all other elements had been met. Finally, the element of a legal object would mean that the contract would not break any moral or

  • Disadvantages Of Arbitration Agreement

    1737 Words  | 7 Pages

    In general, the arbitration agreement provides the basis for arbitration. It is defined as an agreement to submit present or future disputes to arbitration. This generic concept comprises two basic types: a) A clause in a contract, by which the parties to a contract undertake to submit to arbitration the disputes that may arise in relation to that contract (arbitration clause); or b) An agreement by which the parties to a dispute that has already arisen submit the dispute to arbitration (submission

  • Importance Of Consensus In Contract Law

    1781 Words  | 8 Pages

    obliges them to perform in terms an agreement. For a contract to be valid and binding in South Africa, the following requirements must be met: There must be a “consensus ad idem” between the contracting parties.A consensus is referred to as “meeting of the minds” or “mutual agreement”. In other words, parties must agree to the contract in the same sense, with an understanding of each party’s rights and duties. A consensus is a phrase used in contract law to describe the intentions of parties forming

  • Elements Of Contract Law In Malaysia

    981 Words  | 4 Pages

    Introduction A contract law is one of an important thing as it is the legal foundation whereby business transaction can be conducted. A contract can be defined as an agreement whereby it can be legally forced between two or more competent parties for a certain action. A contract is a form that is resulting from the combination of two ideas, which are agreement and obligation . The Law of Contract in Malaysia is basically regulated under the Contract Act 1950. According to the section 2(h) of the

  • Pros And Cons Of Indian Contract

    2024 Words  | 9 Pages

    INTRODUCTION A contract is an agreement, enforceable by law, made between at least two parties by which rights are acquired by one and obligations are created on the part of another. If the party, which had agreed to do something, fails to that, then the other party has a remedy. It is a voluntary, deliberate, and legally binding agreement between two or more competent parties. Contracts are usually written but may be spoken or implied, and generally have to do with employment, sale or lease, or

  • Exclusion Clauses In Consumer Law

    1899 Words  | 8 Pages

    Question 1 A contract is the voluntary, deliberate, and legally binding agreement between two or more competent parties. Contracts are usually written but may be spoken or implied. A contractual relationship is evidenced by an offer, an acceptance of the offer, consideration and an intention to create legal relations. Within the contracts, exclusion clauses are a general method to administer and allocate the risks involved. Exclusion clauses indicate which of the responsibilities a party to a contract

  • Legally Enforceable Contract Case Study

    2280 Words  | 10 Pages

    1. STEP 1 The issue of law concerns the element of agreement required for the formation of a legally enforceable contract between both parties. STEP 2 A legally enforceable contract is made up of three main requirements which are intention, agreement and consideration. All of these elements is necessary and if not established then the contract made would not be acknowledged by the law. The element of agreement to form a legally enforceable contract between both parties is discussed. An agreement

  • Valid Contract Case Study

    2346 Words  | 10 Pages

    There is no legal commitment until a contract has been formed and either party may change their mind and withdraw from the negotiations. But the question now is can Ann now terminate the offer through the Fax? Under communication by the postal rule, the offer has been accepted by Ann and contract formed. However, in the case of James and Ann it can

  • Pros And Cons Of Law: Arbitration Vs. Litigation

    1372 Words  | 6 Pages

    Casey Brennan 07/03/16 Arbitration v. Litigation What is litigation? What is arbitration? Before we can discuss the pros and cons for either side, you must first understand what each is. Arbitration is the settling of disputes between two parties by an impartial third party, whose decision both parties agree to accept. Litigation on the other hand is the “ultimate legal method of settling controversies or disputes between and among persons, organizations, and the State”. When discussing litigation

  • Third Party Rights In Contracts

    872 Words  | 4 Pages

    When you have a valid and legally enforceable contract, there are rights and duties of the parties to the contract. In general, only the parties that entered the contract have rights and liabilities according to it. This is called the privity of the contract, excluding third parties. However, there are two exceptions to the privity of contracts: assignment of rights and delegations of duties. Another form of third party rights in a contract is a third party beneficiary contract. What are these types

  • Essay On Bilateral Contract

    1228 Words  | 5 Pages

    A contract is an agreement enforceable by law. But not all agreements are contracts. For an agreement to be a contract there needs to be consideration between two or more competent parties and should be done with free consent and a lawful object. For a contract to be valid there needs to be offer and acceptance too. Once all these elements are present, then it’s a valid contract. There are two main kinds of contracts: unilateral contracts and bilateral contracts. A bilateral contract is an agreement

  • Arbitral Award Analysis

    1270 Words  | 6 Pages

    The finality of the arbitral award is a characteristic in arbitration and a key factor in an arbitration agreement . The finality is a condition to enforce an arbitral award before a national court, and minimize the risk of a challenge or appeal of that arbitral award. The arbitral award becomes enforceable as a civil judgment through the process of confirmation. The question is how the finality of the arbitral award can be proved? Whether or not there is an appeal to the award. The RA Law on

  • Carbolic Smoke Ball Case Study

    2267 Words  | 10 Pages

    obliged to do. Both Alan and Ben are required to have the legal capacity to be able to enter into a contract, which means that in general, they have to be at least 18 years of age. They also require the mental capacity, meaning they have to be of sound mind, not intoxicated or under the influence of any mentally-affecting substance to be able to form a legally

  • The Importance Of Contract In Common Law

    899 Words  | 4 Pages

    In common law, There are four elements for forming a binding contract, namely, the intention to create legal relationship, offer and acceptance and consideration. The functions of the elements sometimes overlapping with respect to the relevant definitions, I am of the opinion that intention should be the most important element among the four of them. Although minority of academics might argue that “intention is the least important contractual element since consideration is a token of the intention

  • Offer And Acceptance Analysis

    2805 Words  | 12 Pages

    Generally, formation of a contract involves two steps which symbolize collectively mutual assent, they are offer and acceptance. Offer and acceptance analysis is a traditional approach in contract law used to determine whether an agreement exists between two parties. According to the classical system of contract "... to constitute a contract, there must be an offer by one person to another and an acceptance of that offer by the person to whom it is made. A mere statement of a person's intention

  • Contract In Common Law

    2507 Words  | 11 Pages

    are not ad item”: Wellmix Organic (Internation Pte Ltd v Lau Yu Man (2006) and Smith v Hughes (1871). However, it is normal to have disagreements before the contract is formed. This is where the bargaining takes place. In order to determine if “meeting of minds” has been established, the court will usually examine the entire course of bargaining and negotiations. This objective was emphasised in Aircharter World Pte Ltd v Kontena Nasional Bhd (1999). In order for a contract to be formed, the four