Contractual term

expert or has specific knowledge in art dealing. Therefore, Thomas is not a merchant. Bobby is an “art buff,” but besides having an interest in art, there aren’t any facts to support he has specific knowledge or expertise regarding art purchasing and dealing. Therefore, Thomas is not a merchant. Offer An offer is an outward manifestation of present contractual intent to be bound by an agreement with definite and certain terms communicated to the offeree. Bobby offered to buy Thomas’s painting and demonstrated an outward manifestation of present contractual intent to be bound by an agreement. Bobby offered to buy (1) piece of art (quantity), on September 1st (Time), between Bobby and Thomas(parties), for $4,500.00(price), a landscape painting (subject matter). Bobby’s offer was communicated in person to Thomas (the offeree) and thus created the power of acceptance. Therefore, a valid offer exists. Acceptance Acceptance is the unequivocal assent to the terms of the offer. Thomas verbally and in person accepted Bobby’s offer to purchase his painting for $4,500.00, payable upon delivery, that Friday. Thomas agreed to all terms, removed his painting, and marked it as sold. Therefore, Thomas’s verbal acceptance and actions to remove the painting and mark as sold, are valid acceptance. Consideration A bargained-for exchange of legal detriment. Here, Bobby promises to pay $4,500.00 to Thomas and Thomas promises to supply a landscape painting. Therefore, valid consideration.…

1) SCULPTURa v Eric The agreement between SCULPTURa (S) and Eric (E) contains clear express terms: E is to supply a suitable piece of his land to accommodate S’s major art exhibition for a rental fee. Contractual rights and obligations can either be written, oral or inferred by conduct. Since there was no formal contract drafted between S and E, written or signed by either party, this agreement is, therefore, an oral contract; legitimised by both a handshake and consideration in the form of…

B2C, on the other hand, refers to transections between a business and consumer. An example of this kind of transection is a store, which sells products to its local consumers. Both B2B and B2C contracts may face some challenges, more particularly with unfair contract terms. The terms of a contract are the statements that describe the rights and obligations of each party to the agreement. Terms are all the matters agreed between the parties about what is to be done, how it will be done and…

to terminate the contract only due to the failure of the contracting party to pay the amounts owed to the supplier. When the parties have come to terms about the termination of the agreement the contracting company might want to take services or activities back-sourced, as well as, can enter into contract with another outsourcing company. If there is a termination of the contractual relationship due to one of the alluded motives, there are rights that should be taken into account, such…

Kitchin LJ discussed the idea that Rock’s payment of £3,500 would be bound by the rule in Foakes v Beer. This suggests that “an obliger by paying all or part of a due, liquidated, and undisputed obligation suffers no detriment he is not bound to suffer” . From this, Arden LJ, acknowledged that this was a credible interpretation of the contractual position. However, Arden LJ added that her initial view was that the parties entered into a ‘collateral, unilateral contract’, suggesting only one…

Miller presents a strong case, however he overlooks some crucial characteristics and therefore arrives at the wrong conclusions. Ironically, Miller recognizes that “marriage is somewhat of a contractual agreement”; but he overlooks the fact that both Starks and Killicks did not respect their half of the contract. Initially, Killicks was treated Janie with respect and left her to do her work in the house while he took care of the manual labor. After a while, however, he begins to note that “if…

Topic: A view which is certainly elementary if not fundamental is that in a democratic society, people should enjoy freedom in their contracting. Introduction Our society today depends upon free exchange of goods and services in the marketplace at every opportunity. The interactions we encounter in the market depends on voluntary agreements between the parties, which can never become binding without a legal contract. Because contracts are at the heart of a democratic free-market economy, it…

Privity of contract is the relationship that exists between the parties to an agreement. This relationship is necessary in contracts; therefore, if you want to lodge a suit regarding a contract, you need to prove that you and the other individual were in privity of contract; hence, you were both involved in the contract and had an established contractual relationship. In addition, a doctrine of contract law that precludes any person from seeking the enforcement of a contract, or suing on its…

case study of the City Link Toll project in Melbourne as analysed by (Hodge, 2004), illustrates this point. The concession was for 54 years and the SPV was able to claim damages from the government because the latter was not allowed to take action which could damage toll way revenue. The vague contractual provision enabled the SPV to partake in opportunistic behaviour at the expense of the government. A concession period of 54 years means the state is in lock-in to the PPP and cannot initiate…

requirements for the existence of a contract were fulfilled. There must be an offer and acceptance that had consideration and an intent to create legal relations. Consideration can be seen between the payment from Cathy to Eric. A term of the oral contract was that Eric’s farm land would be suitable for installing a marquee. This was found false and Cathy had to pay additional costs to prepare the land for the marquee. Hence it can be said that Eric has breached the oral contract for failing to…