Law Contract Case Study Essay
This problem addresses the issue of agreement, whether there is a valid contract or the offer may be terminated. In order to the contract being valid and enforceable, there is a need for the conduct of an offer and an acceptance.
For an offer to be valid, it contains some rules, including lapse of time. When an offer is made, it does not last forever. An offer stated to open for a specific period, lapse if the there is no acceptance within that time. If there is no set time for acceptance is stipulated in the offer, the implication of lapse will be exercised after a reasonable time, depending on the facts and circumstances in each case. (see Ballas v Theophilos (No2) (1957) 98 CLR 193;  HAC 90). If the acceptance …show more content…
In this case, the essence of time for payment period is stipulated as the term in the contract. Therefore, the failure to comply with the term on time brought Lee into the position of breaching of contract, which allows Harry to terminate the contract as has been mentioned. For the representation to be found as an estoppel, it must be clear or clearly implied from conduct. However, the solicitor did not make any clear representation, but his opinion by saying “I THINK that would be all right but I will HAVE TO GET INSTRUCTIONS from the vendor”. There is no promise is given for a further extension and no statement or conduct to assure for Lee’s