Essential elements of a valid contract essay

Besides, the consideration must also be lawful. By each promise being consideration for the other. This is due to the process of sending the post letter to the recipient.

The same does not apply, however, when serving on a solicitor in his capacity as a party to proceedings. Due to this event. Conclusion In conclusion, it is essential for each of us to understand the elements of a valid contract especially in term business context.

Agreement not expressly declared void: Intention to create legal relations 4. The object for which the agreement has been entered into must not be fraudulent or illegal or immoral or opposed to public policy or must not imply injury to the person or property of another Sec.

This is made with the intention that it shall become binding as soon as possible to the person whom is addressed. Executory Future Consideration Andy Gibson and Douglas Fraser explain that this consideration is the exchange of promise between parties.

If the Customer fails to provide such notice in writing within 2 hour s after the delivery of the equipment, the Customer will be conclusively presumed to have accepted the equipment as specified in the Equipment Schedule. These Guthrie Waugh Bhd.

In the context in which the email had been sent that is, a transaction which all had agreed could have been completed that eveningthen the email was not outside working hours.

Next, postage medium is unreasonable to be used for a big company. He or she values the item of what they give or get. Her action was dismissed on the ground that no legal relations had been contemplated and therefore there as no contract.

Ten Essential elements of a valid contract – Essay

A system rental with Mr Danial. The agreement must not have been expressly declared to be void under the Act. The security deposit act as the security to the company if the customer breach any of the terms such as damages of the equipment.

The acceptance can be made either in terms of words or other than words as discuss as above question 1: It does not matter the letter is lost or damage or delayed, as long as both parties are agree to use the postal method as their mode of communication.

When the agreement is in writing it must comply with all legal formalities as to attestation, registration. Terms of contract is generally understand or classified into condition and warranties.

The offer when accepted becomes agreement. Next is to discuss on the impact of different types of contract by explaining and compare the contract made by post and via e-mail based on section 4 2 of the Contract Act which stated on the completion of communication of an acceptance.

These element will then be our guidance in making a contract that valid to use by the parties involve when making an agreement. The elements of consideration Pheng stated Section of Contract Act tells that an agreement without consideration is void.

Malaippan Muthucumaru case study shows the important of consideration during making a valid contract. Somehow in some cases, the intention of making a contract sometime making the contract invalid.

But, if the agreement is relating to something serious, that can falls under commercial arrangement such as intention to sell and buy cars.

10 Essential Elements of a Valid Contract in Business Law

A, agrees with B to discover treasure by magic. The intention may be vary depends on the business agreement involves. The offeree claim a breach of contract. Postage medium communication is irrelevant to them. I will briefly explain each of the elements in order to make a valid contract.

Based on above agreement, Mr Danial are obligate to certain condition and warranty terms. Offer or proposal is necessary for the formation of an agreement.

Essential elements of a valid contract Essay Sample

They had helped me a lot on finishing my assignment. The consequences if these terms is broken is the customer might not get the refund on the deposit money. In this part of my assignment I will be detailing what the different elements of a valid contract are whilst also linking it in with my own contract.

ESSENTIAL ELEMENTS OF A VALID CONTRACT: To be enforceable by law an agreement must possess the essential elements of a valid contract as laid down by Sec of Contract Act in the following terms; ‘All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a.

Essential Elements of a Valid Contract. 1a Explain the different types of business contracts and discuss the essential elements of a valid business contract.

(LO1) Business contracts are an essential part of conducting business and it’s important if your business operates online. With so many elements that are incorporated into any contract, the six essential elements of enforceable contracts will be the main focus of this writing.

Having a clearer understanding of the essentials of life will help prepare us for life’s curves that may come our way. Essential elements of a valid contract Introduction: In this part of my assignment I will be detailing what the different elements of a valid contract are whilst also linking it in with my own contract.

Essential Elements of Valid Contracts All agreements are contracts if they are made by free consent of parties,Competent to contract, for a lawful consideration and with a lawful object and are not here by expresslydeclared to be schmidt-grafikdesign.com the essential elements of a valid contract .

Essential elements of a valid contract essay
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Essential elements of a valid contract | Essay Example