Whether there is a contract between Tony and Emma?
A contract is consisted of three elements, an agreement, consideration and intention to create legal relations. In addition to this, an agreement is formed by a valid offer and acceptance. An offer is the promise which is clear, certain and final that made by the offeror, the offeree can choose to accept it or reject it as the acceptance is capable. An acceptance refers to the approve of the offer, it must be absolute and communicated to offeror, once the offeree accept the offer, there is an agreement reached between the offeror and offeree and it cannot be revoked without consent of offeror. Apart from these, a consideration is necessary in every simple contract, it is the promise to do something in return for what has been promised by another. A consideration can be executory which consists a promise to do something and need time to perform, it can also be executed which takes the form of performing an act, it cannot be past like pre-dates the promise, for it belongs to the past but the current contract. Promise have to provide consideration for the promise they have received, if there is no consideration, there will not be a contract and the promise is unenforceable. Besides, there must be clear intention by the parties …show more content…
Later, Tony said $1900 was the lowest price that they could sell to Emma for they only had limited stock and this offer would end at 5pm that day. A counter-offer is a brand new offer that different from the previous one, it is put forward by the offeree after turning down the original offer. Once the counter-offer is accepted by the original offeror, it will create a binding contract. In the case Hyde v Wrench (1840) Beav 334, counter-offer destroys the previous offer and the original one cannot be revived by subsequent acceptance. Tony agreed to sell the television at price $1900 to Emma, he made a counter-offer and Emma was capable to accept
A contract is consisted of three elements, an agreement, consideration and intention to create legal relations. In addition to this, an agreement is formed by a valid offer and acceptance. An offer is the promise which is clear, certain and final that made by the offeror, the offeree can choose to accept it or reject it as the acceptance is capable. An acceptance refers to the approve of the offer, it must be absolute and communicated to offeror, once the offeree accept the offer, there is an agreement reached between the offeror and offeree and it cannot be revoked without consent of offeror. Apart from these, a consideration is necessary in every simple contract, it is the promise to do something in return for what has been promised by another. A consideration can be executory which consists a promise to do something and need time to perform, it can also be executed which takes the form of performing an act, it cannot be past like pre-dates the promise, for it belongs to the past but the current contract. Promise have to provide consideration for the promise they have received, if there is no consideration, there will not be a contract and the promise is unenforceable. Besides, there must be clear intention by the parties …show more content…
Later, Tony said $1900 was the lowest price that they could sell to Emma for they only had limited stock and this offer would end at 5pm that day. A counter-offer is a brand new offer that different from the previous one, it is put forward by the offeree after turning down the original offer. Once the counter-offer is accepted by the original offeror, it will create a binding contract. In the case Hyde v Wrench (1840) Beav 334, counter-offer destroys the previous offer and the original one cannot be revived by subsequent acceptance. Tony agreed to sell the television at price $1900 to Emma, he made a counter-offer and Emma was capable to accept