Contract law

Did Jim and Laura Buy a Car? A legal contract should clearly state the terms of reference. For the case of the buyer and the seller, the contract must state the price of the commodity and other details such as the condition of the commodity. For the case of purchasing a car, the sales agreement is a legal contract signed by both the seller and the buyer. For Jim and Laura, they did not sign any legal written document binding them to buy the said car. The salesman, Stan duped them to produce the…

Contract is a kind of legally binding agreement which form between two or more parties and the parties will obtain rights, owe duties and have obligations from the subject matters in the agreement and it frequently occurs in our daily life, such as contract in employment. There is a specific situation arise from the contract which called restraints of trade and it is a clause in a contract which has the fundamental purpose is to prevent a party doing some kind of business activities, profession…

for sale. When these purchases are large and require a loan that comes with a repayment plan we then head into what is called a contract. A contract is an agreement that creates obligations that are enforceable by the law. When entering into a contract with another party, that contract can be either a verbal or written one. There are different elements that go into a contract that make it valid and binding and they are: Offer: This is defined as a…

Implications of implied seaworthy in voyage charterparty Under the law of carriage of goods by sea, the cargo owner intending to ship goods wants use of an entire vessel for some purpose, he might wish to enter into direct6 contract with the shipowner for the charterer of latter’s ship that called Charterparty. For the use for a certain voyage, it is called voyage charter. Voyage charter is used for a single voyage or a series of voyages. Under a voyage charter, the charterer shall hire the…

Contract. When most people hear that word they think of a time consuming piece of paper. Instead, they should think of an agreement or something that could possibly save them hundreds of dollars. Also, they should not just think of a piece of paper. For contracts to be enforceable, they do not have to be in writing. Yes, some contracts are on paper and sometimes there are some contracts that are required to be in writing, but there is also contracts that are electronic. Most verbal contracts are…

enough to be a contract. To understand if Boris Byer and Celia Cellars agreement would reflect a valid contract, it is best to look at the essential elements of the contract. Is there a contract in this case, what is the status of the contract, does the napkin have any significance, and then drawing a conclusion to determine if Boris Byer and Celia Cellar have a contract. First, we must examine the facts of the situation and apply it to our equation of the essential elements of a contract. In…

Contracts are everywhere. They are a part of everyone’s daily lives. Learning what constitutes an enforceable contract was very useful. A contract, is a promise that is supported by a benefit, or a bargain. This promise, or offer, has to be clearly accepted and the parties need to share a common intent and understanding of the formation. The offer cannot be an invitation. It must be a clear intent to enter into an agreement by the offeror. It must state the consideration in its terms and…

Weather voyage? Law In order for consideration to be valid, either something must be given up from the promisee or the promisor must make a benefit from the offer. If this occurs there will be a legal contract between the two parties (Hubbard, Thomas & Varnham, 2013). If a contract already exists can an individual offer a new contract? A change in a contract means a change in the terms that were agreed and therefore the executory consideration must be adjusted. For the law of contract to…

In reviewing the contract with Marshall Peterson there are a number of elements to contemplate from a business standpoint and a spiritual perspective. As a business owner, I would have to look at the business aspect to see if a contract truly exist once my 17 year old signs a contract, furthermore, the initial verbal contract between my business and Marshall’s business. Marshall facilitated in selling and advertising my family’s Muscadine grapes at his business. Marshall increasingly upped…

sign a contract with Marshall, nor did I authorize my son to enter into an agreement with him. An early 1900’s court case, Alexander v. Bosworth, concluded, "Party cannot be bound by contract that he has not made or authorized" (1915). My family can pursue some possible legal defenses in the event that Marshall seeks to take legal action using this contract as his defense. Our defense would be that Marshall entered into a contract with my son, without my knowledge, and that the contract is…