Objectives

3.4 Formation of Simple Contracts There are three basic elements of the formation of a simple contract: (a) Agreement: offer and ...

entering the contract and so the focus is on the three basic elements identified above. 3.5 Agreement In attempting to discover ...

Most of the rules that are discussed below are really examples or extensions of this basic requirement. (b) An offer must be suf ...

self-service store and put it in his basket or whether the customer made an offer when he took his selection to the cashier, whi ...

option. As mentioned above ‘consideration’ is money or money’s worth. So if the offeree was to say to the offeror ‘I will pay yo ...

3.5.2 Possible Responses to the Offer Once a legally effective offer has been made, a number of things may happen to it. If it i ...

one Berry on the same afternoon. He nevertheless handed Dodds an acceptance of the offer at a few minutes before 9 a.m. on 12 Ju ...

counter offer, in which case the plaintiff was not free to accept the original offer by his 1.34pm, telegram, or whether it was ...

(d) Time The offer may lapse if it is not accepted within the prescribed time or, if no time is prescribed, then a reasonable ti ...

(f) If the mode is not prescribed then the law will require a reasonable mode of acceptance. What is reasonable will depend upon ...

Act, at least in part, in reliance upon it. (j) Subject to the postal rule, acceptance by the offeree is effective at law only ...

i.e. Who can accept? Step 3 - Has it been communicated? i.e. When is it effective at law? Step 4 - Can it be revoked? i.e. is th ...

4.0 CONCLUSION Contract is a bargain. There must be an offer and acceptance. We note certain principles of importance which regu ...

P received S’s first letter at 10a.m on 3 June, and at 2, p.m on the same day posted the following reply to S: “I like your offe ...

UNIT 2 CONTRACT: INTENTION AND CONSIDERATIONS CONTENTS 1.0 Introduction 2.0 Objectives 3.0 Main Content 3.1 Overview of Contract ...

3.0 MAIN CONTENT 3.1 Overview of Contract 3.2 Intention to Create Legal Relations There are certain agreements, which although t ...

Social, family or domestic arrangements; or Commercial or business arrangement. Having made the initial classification, the cou ...

Mining Corp Berhad the circumstances were that the parent company gave a letter of comfort to a bank who was about to loan some ...

SELF ASSESSMENT EXERCISE Point-Form Approach Now read the relevant paragraphs on intention and complete the following approache ...

3.3 Consideration Consideration is the price paid (not necessarily in monetary terms) for the promise of the other party. If you ...