Task 2
1.0 Contract Law
A contract is aimed to formalize an agreement between two or more parties, with regard to a specific subject. Contracts covers a wide range of matters, involving the sale of goods or real property, the terms of employment or of a self- contained contractor relationship, the dispute settlement, and ownership of intellectual property established as part of a work for hire.
In law, a contract is a legally binding deal between two or more parties which, if it consists the elements of a strong legal agreement, is enforceable by law or by binding arbitration. It could be written or even be in oral. Contracts can be written by using formal or informal terms, or entirely verbal or spoken. It is a promise made between two or …show more content…
In a unilateral contract, only one party to the contract makes a promise and the offeree accepts the offer by performing a certain act. The offer can be made to one party or to the world at large through an advertisement. The offer is accepted once the act is performed. Only one person makes the promise. There is no obligation for the other party to make any promise. For instance, A promises to pay a reward to B if B find A’s dog. In this situation there can be only B can perform the act and once that act is performed A is obliged to pay the reward. The finding of the dog is the condition precedent to the reward which means you get the money after the dog is found. Unilateral offer is shown in the case of Carlill v Carbolic Smoke Ball Company. The Carbolic Smoke Ball company made a product called a smoke ball that it claimed could protect the user from getting influenza (flu). The company published advertisement claiming it would pay 100 pounds to anyone who still got sick with influenza after using its product. The company even deposited 1000 pounds with the Bank to show their genuine intention in the matter. Mrs. Carlill bought one of the balls and used it in the manner specified, yet still managed to get influenza. When she asked for the reward the Carbolic Company claimed that there was no enforceable contract between it and the user of the smoke ball on the grounds that there was no acceptance of the offer, because Mrs. Carlill had never notified the Company that she accepted its offer, nor furnished any consideration. The issue arose, is there a valid and binding contract between Mrs. Carlill and the company? The court held that in unilateral offers, the advertisement is an offer which was accepted by Mrs. Carlill. The court also looked at the party’s intention, the fact that 1000 pounds were deposited in the Bank showed a genuine intention to create a legal relationship. There
1.0 Contract Law
A contract is aimed to formalize an agreement between two or more parties, with regard to a specific subject. Contracts covers a wide range of matters, involving the sale of goods or real property, the terms of employment or of a self- contained contractor relationship, the dispute settlement, and ownership of intellectual property established as part of a work for hire.
In law, a contract is a legally binding deal between two or more parties which, if it consists the elements of a strong legal agreement, is enforceable by law or by binding arbitration. It could be written or even be in oral. Contracts can be written by using formal or informal terms, or entirely verbal or spoken. It is a promise made between two or …show more content…
In a unilateral contract, only one party to the contract makes a promise and the offeree accepts the offer by performing a certain act. The offer can be made to one party or to the world at large through an advertisement. The offer is accepted once the act is performed. Only one person makes the promise. There is no obligation for the other party to make any promise. For instance, A promises to pay a reward to B if B find A’s dog. In this situation there can be only B can perform the act and once that act is performed A is obliged to pay the reward. The finding of the dog is the condition precedent to the reward which means you get the money after the dog is found. Unilateral offer is shown in the case of Carlill v Carbolic Smoke Ball Company. The Carbolic Smoke Ball company made a product called a smoke ball that it claimed could protect the user from getting influenza (flu). The company published advertisement claiming it would pay 100 pounds to anyone who still got sick with influenza after using its product. The company even deposited 1000 pounds with the Bank to show their genuine intention in the matter. Mrs. Carlill bought one of the balls and used it in the manner specified, yet still managed to get influenza. When she asked for the reward the Carbolic Company claimed that there was no enforceable contract between it and the user of the smoke ball on the grounds that there was no acceptance of the offer, because Mrs. Carlill had never notified the Company that she accepted its offer, nor furnished any consideration. The issue arose, is there a valid and binding contract between Mrs. Carlill and the company? The court held that in unilateral offers, the advertisement is an offer which was accepted by Mrs. Carlill. The court also looked at the party’s intention, the fact that 1000 pounds were deposited in the Bank showed a genuine intention to create a legal relationship. There