contract law essay examples

Contract Law Essays

Contract formation.

Does consensus underpin contract formation, or do the actual rules should other factors at play?

Consideration

Should Williams v Roffey be extended to circumstances governed by the principle of Foakes v. Beer?

Misrepresentation

Misrepresentation Problem Question 1

Do damages in contract cover expectation loss?

Duress and Undue Influence

Duress and Undue Influence Problem Question 1

Home — Essay Samples — Law, Crime & Punishment — Contract Law — The Contract Law: The Case of Jim, Laura, and the Automobile Purchase

The Contract Law: The Case of Jim, Laura, and The Automobile Purchase

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Updated: 29 March, 2024

Words: 819 | Pages: 2 | 5 min read

The essentials of a legally binding contract, analysis of the automobile purchase agreement, the legal standing of the oral agreement.

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145 Contract Law Topics to Write about & Examples

Are you a law school student? This contract law topics list is for you! Here, you will find the most interesting concepts and legal issues to explore. Write an outstanding essay with the help of our law of contract assignment topics and samples!

🔝 Top 10 Contract Law Topics for 2024

🏆 best contract law topic ideas & essay examples, 👍 good contract law topics for essays, 📝 simple & easy contract law assignment topics, 📑 interesting contract law research paper topics, ❓ contract law essay questions, 🤩 law of contract assignment topics: benefits.

The Elements of a Valid Contract
The Doctrine of Privity of Contract
Alternative Dispute Resolution Methods
Fraud and Misrepresentation in Contracts
How to Identify Unfair Terms and Conditions
Remedies and Legal Recourse for Non-Performance
Mental Incapacity and Its Implications in Contract Law
Mistakes and Their Effects on Contractual Validity
Which Contracts Must Be in Writing to Be Enforceable?
E-Signatures, Online Agreements, and Legal Validity
Contract Law: Car Buying Agreement and Fraud When considering the purchase of a car, one must be aware of the legal specifics of the process, as the case of Jim and Laura shows quite clearly.
Contract Law: Sand Diego Case In this case the old contract is discharged and there is a substitution of anew contract By vicarious performance: It is open to the parties to have their contract performed vicariously by another person, provided […]
Woody Allen vs. Amazon Contract Law Case The reasons given by the court were that the defendant and the plaintiff settled their issues in private and the appellant withdrew the case.
Joint Liability Under English Contract Law If this is a case of common co-debtorship, D will have to sue A, B, and C jointly to claim the horse.
Contract Law: Breach, Mutual and Unilateral Mistake The implication of this is that the contract would have ordinarily remained valid until the time the plaintiff moved to have it avoided.
UAE and UK Contract Law: Misrepresentation and Duress Contract law is the agreement that should clear identify the situation and help the parties be equal; misrepresentation and duress can influence the quality of the contract and have to be properly understood by the […]
Contract Law: The Impossibility of Performance The paper will include a discussion of the elements of the impossibility of performance and the three situations where the defense can be used; and a discussion of commercial impracticability and its application to the […]
Importance of Role of Contracts in Sports Law One of the laws which play a truly vital part in the regulation of sports activities is the law of contract.
English Contract Law: Gibson vs. Manchester City Council Rather, it merely stated that the house “may be prepared to sell” and that the letter was not a “firm offer of a mortgage”.
Promissory Estoppel in English Contract Law In regards to the case between Brian and Harry, Harry won the case in which he claims a breach of contract by Brian.
English Contract Law: Fundamental Principles The buyer has an obligation to pay the price and the seller is obligated to transfer ownership to the buyer. Acceptance of the offer implies that there is an objective expression, by the recipient, of […]
Misrepresentation Under Contract Law This case is a case of negligent misrepresentation because the finance officer made the statement without knowledge of the capacity because he had not gone to the building to ascertain the facts of what he […]
The Duress Cases in Contract Law The court decided that the agreement was null and void because the wife did not receive adequate advice concerning the husband’s worth before or during the time she was required to sign the agreement.
Business Law: Contracts With Intoxicated Persons It is the client’s goal to rescind the contract, and she can do so in correspondence to the capacity to contract and duress and undue influence.
Business Laws in Contract Termination In the contract between the Commonwealth Government of Australia and Chill-Out company, dissolution can be applied because of the poor performance of the employed enterprise, as in the case of Abrams v RTO Asset Management.
Contract Law: The Case Study The former decides to sue Johnny for breach of contract on the two commitments, buying the car and the $10,000 offer.
Contract Law Cases: Suspicious Directors in Firms The legal duty of care assigned to the defendant is one that emerges independently of contractual responsibility, and expressly, in the absence of a contract.
U.S. Contract Law: Basics A significant role in the emergence and development of the theory of the U.S. contract law belongs to the American jurists Langdell and Holmes.
English Law of Contract: Theory and Examples This means that the finding of the painting preludes the obligation for paying the reward without the necessity of proof of offer acceptance.
Contract Law: Alpha Bookstore’s Delivery Issues The area of law that this case relates to is contract law, and the bookstore has remedies for the problems with the contract and lost chance.
Contract and Agency Law: Restraint of Trade A typical restraint of trade clause on an employment contract will be: The employee agrees that he or she will not, after the termination of the employment contract with the employer, either directly or indirectly, […]
Contract and Agency Law: Overview and Analysis In the case of Carlill v Carbolic Smoke Ball Company, the court of appeal held that the advert made had all the requirements of an offer and was, therefore, an offer in itself.
Singapore Contract Law Analysis Therefore, D & D shopping mall would be exempted from the damage of the car because they had referred to the clause in red.
Researching the Law of Contract The offeror entails “the party making the offer while the offeree refers to the party to whom the offer has been made and a serious and objective intention on the part of the offeror must […]
Contract Law: Selling Legal Encyclopedias Normally, a contract is established when the offeree and the offeror agree to the terms of their negotiation. In the above case, Carrie made an offer to sell a set of encyclopedias to Antonio.
Law of Contract: The Case of James and the Kitchen Wizard Even though this was not included in the contract, the fact that James was made to believe that he was purchasing the items that he had wanted by the salesperson gives validity to the feelings […]
Consideration of the Law of Contract In this case, John failed to fulfill his share of the contact thus Chen has this as a basis of not paying the high labor cost, the case says “John builds the extension but does […]
Contract Law: Huang vs. Bill the Builder The main purpose of seeking compensation of damages resulting from a breach is to put the innocent party in its initial position if the breach had not occurred in the first place. Huang had clearly […]
Contract Law and License: Review But there is also the matter of usage of already existing material and the contracts that are drawn up by companies to make a profit.
Contract Law: Case Brief on Fiona vs. Black Tie The elements of a contract were all present in the contract that was between the Black Tie Dry cleaning and Fiona and based on the arguments and explanations the company is not liable to any […]
Government Contract Law: The Case of Boston Shipyard Corp. MSC was aware that at the time of the formation of the contract, BSC was proceeding with a bankruptcy arrangement yet it signed the contract.
Different Types of Contracts in Law It is a defense in the sense that the two parties had agreed to perform the contract but had not factored in such other contingencies that could render the whole or part of the contract […]
Business Law: The Contract and Tort Law Under the contract of CG and Cambridge city, the offer was given by the city to the CG to collect the garbage in the area of 3000 households for three years with the expectation of […]
Law of Contracts: Case No. CA06-1281 in Arkansas The most important aspect of a contract is the offer and acceptance where one party offers an agreement and the other accepts.
Contract Law and Legally Binding Relationship The analysis of this case will tend to advise him on the next reaction relating to the competition which was in place, the contract and the letter that he received from the solicitors.
Contract Law in Business and Consumer Protection When the couple approached the hotel manager, they were referred to the terms and conditions form they had signed as they checked in and one of the terms and conditions read that the hotel will […]
The Contract Law: The Case of James and the Pet Toys There is a distinction between the day and moment that the advertisement was posted in the newspaper and the time that was taken for the letter to get to the manager.
Law Illustrations, Legal Rights, Law of Contract At the same time, the customers of the company, and Thomas and Peter in particular, considered the advertisement to be an offer to the world at large.
Acting in Good Faith: Contract and Agency Law To start with the validity of the contract should be analyzed; and in this case, the two contracting parties had agreed mutually to reduce the amount to a nominal amount of $150.
Avoiding & Settling Disputes Under Sales Contract Law The major peculiarity of this problem lies in the following: the seller of the car officially disclaimed any liability for the injuries and repair costs caused by defects in the vehicle.
Criminal and Contract Law in the Healthcare Sector It is therefore important for healthcare professionals to conform to the criminal laws and the terms and conditions of their contracts.
Contract Law: Promissory Estoppel and Part Payment In the case of promissory estoppel, consideration has centered on the notion of exchange or bargain as a reasonable basis for the elucidation of what is meant by promissory estoppel in payment of consideration under […]
Contract Law: Introduction to Legal Analysis and Writing It is on the basis of this information and other materials not mentioned in the case that he manages to convince Mr.
Law of Contract: Aspects of the Lease Issue Manchester Citi Council, it was reaffirmed that although the Council may have not signed and delivered the documents, whereupon the customer had signed and delivered the documents for onward transmission to the buyer, the contract […]
Three Articles on Contract Law Comparison The article examines substantial body of case law in the UK on the interpretation of Articles 3 and 4 of the Rome Convention on the law applicable to contractual obligations which emerged in 2000.
Contract Law in Different Countries The applicability of certain laws therefore becomes the basis of a legal system and how this can be utilized in the greater complexity of certain involvements and participations. Lastly, conflicts of law and harmonization process […]
Contract Law and Agreement in Business As the partnership involves financial issues, it is advised to create a contract to secure the operation and have a legal basis for possible complaints.
Contract Law: Legally Binding Agreement With Minors However, the law allows a minor to enter into contracts for the supply of necessities if no adult can provide the necessities.
Contract Law: Offer in the Acorn Computers Case It is a general rule that when an offer is made as was done by B supermarkets, the contract becomes binding the moment an acceptance is made by the offeree.
Contract Law: Refund for Cancelled Trip Payments The problem was in the fact that Burt decided to cancel the vacation, and he needed to receive the refund related to the reservation payments.
Contract Law: Foodmart Inc. vs. Masterpiece Construction The client will therefore have the right to repudiate the contract on the basis that the terms of the agreements have not been upheld.
Contract Law and Its Management Consideration means what is exchanged between the parties to a contract to make the agreement valid. The contractor agrees to do the work by the set date and the client promises to compensate him for […]
Contract Law: Nike, Inc. vs. Eugene McCarthy The United States Court of Appeals, Ninth Circuit affirmed the decision of the district court that Eugene McCarthy violated the agreement, provided potential harm to the company, and had to leave the position offered by […]
Contract Law: Main Line Pictures Inc. vs. Basinger In maximizing /minimizing the loss profit incurred, this amount should not be included because the film was not produced so the actual loss caused by Basinger not taking part in the film cannot be traced.
Business Ethics and Contract Law While analyzing the nature of relationships between the supplier and Don from the ethical perspective, it is necessary to support the cessation of doing business with Don.
Minors and Contract Law: Hallman vs. Lemke But if Jeremy’s actions and the act of entering into the contract was overseen with his parents or guardians in the presence of the sales personnel, the company will be able to sue for damages […]
Contract Law in the United Arabs Emirates To understand the contract law through the prism of the UAE legal system, it is important to discuss the principles of the laws and provisions of a contract.
Essential Contract Law: History and Theory The fundamental nature of a contract is a legally binding accord, that is, a reciprocal appreciation among the parties, in regard, to the essence of the contract.
Business Management Affairs: Contract Law This report highlights the requirements and content of the contract, as well as the consequences for breach of contract by the judges.
The English Contract Law: Terms and Classification To determine a legal contract, the courts look for the following into the contract; the transaction stage, which the transaction took, place, the importance that the representee connected to the declaration together with the skills […]
Contract and Sale of Goods Law It is clear that Blackboard was aware of the purpose that PostersPLUS intended to use the vinyl film at the time the contract was entered into between the two firms.
Contract Law: Breach of Contract and Remedies Available For any claim to contractual material breach to be successful, the injured party must establish that: indeed there was a contract; the defendant is indeed the right party to bring a claim, the contract was […]
Contract Law Dispute: Defendant’s Motion As the judge in the case, I would rule in favor of the plaintiff and oblige the defendant to pay for the damages as requested.
Rescission of a Contract in the Law of Contracts In the law of contracts, when a contract is rescinded, it means that the two parties to the contract have been relieved of their obligation in relation to the initial contract entered in the initial […]
Contract Law: PepsiCo and a Harrier Jet Contest Prize The theory of objectivity in a contract implies that for an offer and acceptance to take place, the reasonableness of the offer and acceptance should be considered, thus other than the mutual consent of the […]
Agreement and Contract Law in the United Kingdom
Alive and Well: The Good Faith Principle in Turkish Contract Law
Australian Contract Law Should Be Codified
Business and Corporation Law: Contract Law and Dispute Resolution
Contract Law and the Institutional Preconditions of a Market Economy
China’s 2008 Labor Contract Law: Implementation and Implications for China’s Workers
Comparing Chinese Contract Law and English Contract Law
China’s New Labour Contract Law: No Harm to Employment
Conflict Resolution in the Australian Contract Law
Creditor and Debtor Relationship in Contract Law
Contract Law and the Doctrine of Consideration in the United Kingdom
Economic Reasoning and the Framing of Contract Law
Contract Law and the Governance of Inter‐Firm Technology Partnerships
Efficient Third Party Liability of Auditors in Contract Law
Contract Law and the Self-Enforcing Range of Contracts in Agriculture
Embedded Options and the Case Against Compensation in Contract Law
Contract Law: Elements and Specific Terms in Business Contracts
Faulty Goods and Unfair Contract Exclusions: Cases of English Contract Law
Contract Law Enforces the Right of Contractual Freedom
Good Contract Law: Termination or Renegotiation of Contracts
Contract Law From Christian Worldview Perspective
Insurance Contract Law and the Concepts of Misrepresentation and Non-disclosure
Contract Law From Law and Economics Perspective
International Business Climate and Germany Partnership, Agency, and Contract Law
Contract Law: Legal, Ethical, and Social Issues in Computing
Law for Engineers: Analysis of Contract Law
Contract Law, Mutual Mistake, and Incentives to Produce and Disclose Information
Multilateral Reputation Mechanisms and Contract Law in Agriculture
Contract Law: Privity and the Rights of Third Parties
Mutual and Unilateral Mistakes in Contract Law
Contract Law: Process, Components, Methods
Quase Contracts Under Indian Contract Law
Contract Law Questions Regarding the UCC and UCITA
The Just Price Doctrine and Contemporary Contract Law: Some Introductory Remarks
Contract Law, Social Norms, and Inter-Firm Cooperation
The Past Flaws and Issues of UK Contract Law
Contract Theory and the Limits of Contract Law
The Postal Acceptance Rule in Contract Law
Understanding Contract Law and How to Form Contracts on the Internet
Comparing Verbal Agreements and Contract Law
What Is the Meaning of the Contract Law?
How Can the Terms of Contract Law Be Violated?
What Are the Past Shortcomings and Problems of UK Contract Law?
What Is the Principle of Good Faith in Turkish Contract Law?
How Will Contract Law Apply?
What Are the Legal Consequences of Australian Contract Law?
What Is the Difference Between Agreement and Contract Law?
What Is the Essence of the New Labor Contract Law in China?
What Are the Implications of China’s Labor Contract Law for Chinese Workers?
How Does China’s New Labor Contract Law Ensure No Harm to Employment?
What Are the Rules of Contract Law?
How Does Australian Contract Law Resolve Conflicts?
What Ethical Issues Does Contract Law Raise?
What Are the Main Aspects of Contract Law?
How Can You Explain Contract Law From the Point of View of Law and Economics?
What Is a Precedent in Contract Law?
What Are the Basic Principles of Contract Law?
How Does Contract Law Govern Interfirm Technology Partnerships?
What Is the Role of Contract Law in Agriculture?
What Are the Elements and Special Conditions of Contract Law?
How Can You Explain Contract Law From a Christian Perspective?
What Are the Consequences of Violating the Terms of Contract Law?
How to Avoid Mistakes and Fraud in Contract Law?
Contract Law: What Are the Requirements for a Contract?
What Is the Relationship Between the Creditor and the Debtor in Contract Law?
How Contract Law Affects Small Businesses?
How Can You Analyze E-Business Contract Law?
What Are the Elements of Contract Law?
How Does Contract Law Govern Sales Agreements?
What Is the Contract Law Worksheet Assignment?

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Contract Law Essay Examples

Have no time? Stuck with ideas? We have collected a lot of interesting and useful Contract Law essay topics for you in one place to help you quickly and accurately complete your college assignment! Check out our essay examples on Contract Law and you will surely find something to your liking!

contract but do not appear to be a relevant issue here. While it is possible for offers to be “made to the world”1, K’s advertisement is an “invitation to treat” It cannot be construed as an offer as it shows no intention on K’s part to be bound to its terms, in contrast to the […]

Contract A contract is a promise between two or more persons involving the exchange of some good or service. Some of the basic elements of a contract include: an offer and an acceptance; “capacity,” or being of legal age and sound competence; “mutual assent,” or agreement on the terms of a contract; and “consideration,” or […]

Contract Remedies What is a contract? – promise or set of promises, for breach of which the law gives a remedy or the performance of which the law recognizes as a duty. Types of contracts- a. express: formed by language, oral or written b. implied: formed by manifestations of assent other than oral or written language; […]

The Federal National Mortgage Association, commonly referred to as Fannie Mae or FNMA, is a government sponsored enterprise (GSE) that was created by Congress in 1968. Nevertheless, its origins can be traced back to the Great Depression in 1938.Contrary to popular belief, Fannie Mae’s main function is not to directly provide home loans to consumers. […]

Background Linda Dillon has sued Champion after she was encouraged to take a more challenging position within the company and was then fired for not meeting expectations. She claimed that she was told that it would take several months to get up to speed and that Champion would give her extensive training. Instead, she was […]

In contractual law, a mutual mistake is: “Where a mistake of both parties at the time of contract was made as to a basic assumption on which the contract was made has a material effect on the agreed exchange of performances, the contract is voidable by the adversely affected party unless he bears the risk […]

The nature of terms can be determined as a subject of any contract, which is to be set out. A term allows two parties having a binding obligation,. This allows them to perform a contract. The distinction between terms and representations can be stated as two different issues. This is because a term is an […]

“I have no radical proposals for the wholesale review of the doctrine of consideration. I am not persuaded that it is necessary. And great legal challenges should only be embarked upon when they are truly necessary. … On balance it seems to me that in modern practice the restrictive influence of consideration has markedly receded […]

First of all, it is essential to specify whether the message conveyed is an invitation to treat or an offer. According to Marson (2011) an offer ought to be a clarification of the terms that the other party must follow. In this case, Jock offers to sell 100 turkeys in exchange for £800 in cash […]

In the common law to speak of the outcome of consenting minds or, even more mystically of consensus ad idem is to mislead by adopting an alien approach to the problem of agreement. The function of an English judge is not to seek to satisfy some elusive mental element but to ensure, as far as […]

In the proposed scenario there are many factors which potentially affect whether an actual contract would exist. These include the distinction between an invitation to treat and an offer, the application of the postal rule and the circumstances when revocation may or may not be appropriate. There are also relevant case precedents that can be […]

Introduction The stringency of the doctrine of utmost good faith in English insurance law, though well known has nevertheless attracted a great deal of criticism. It makes it mandatory for the insured, prior to the formation of the contract, to disclose to the insurer without any omission such facts as are either known or should […]

Q1- Shambu Dayal implemented a self-service system in his store. Smt.Prakash entered the store, took a basket, and added items to the basket. When she went to the teller to make payment, the teller refused to accept her money. Can Shambu Dayal be forced to sell the items to Smt.Prakash? Please decide. Answer: Invitation to […]

1. Able entered into an oral contract with Baker for the sale of Able’s car for $5,000. Later Baker breached that contract. Able wants to sue to enforce the contract. Under the Statute of Frauds, who is the “party to be charged” in this case? a. Able. b. Baker. c. Both Able and Baker. d. […]

Consideration is essential to the formation of any contract made without deed. It distinguishes a bargain or contract from a gift. Lush J in the case of Currie v Misa (1875) referred consideration consist of a benefit to the promisor or a detriment to the promisee as: “Some right, interest, profit or benefit accruing to […]

Initially, Dickison orders 1000 widgets from International Widget at a cost of $5 per widget and requests a delivery timeframe of sixty days. However, after signing the contract, Dickison verbally asks International to expedite the delivery to thirty days. International agrees to this change. The question is whether this modification holds legal weight. Both parties […]

Introduction Contract is a customary of procedures guiding the relationship, content and validity of an agreement between two or more people (such individuals, businesses or other association) concerning the sale of goods, provision of services or interchange of interests or ownership. The elements of contract which are the offer and acceptance needed to be fulfilled. […]

An offer is a critical component of a contract, a legal agreement established between two or more entities. Other crucial factors include Acceptance, Consideration, Position, and Capability. If any of these components are missing, the contract will be deemed invalid. A proposal, otherwise known as an offer, is a precise promise or proposition that commits […]

When surveying Europe’s legal landscape, English law’s refusal to incorporate a general duty of good faith identifies it as somewhat of an oasis, standing in stark contrast to those around it. Yet in examining the net result of those ‘piecemeal solutions’ used in its place, is it truly so adrift? If, after all, these present […]

Contract Law 1 Intention to Create Legal Relations In order for a contract to be valid there must be intention to create legal relations. Enright notes ‘the requirement of intention to create legal relations is a final doorkeeper in contract. It determines which agreements supported by consideration shall be covered by contract law and which […]

According to Keller v. Inland Metals All Weather Conditioning, Inc, the case raises the question of whether there was an express warranty based on the conversations between both parties. If an express warranty was made, then the determination hinges on whether or not the company violated the warranty. The circumstances indicate that the Keller’s required […]

Part A The main issues are whether or not the court would consider that the restrictive covenant in issue is void for contrary to public policy. The relevant legal principles are: A covenant must be no wider than is necessary to protect the legitimate interest of the employer. Attempting to stifle competition is impermissible and […]

Contract Law Essays

Contract law: critical evaluation of the doctrine of mistakes, contract law in construction, u.s. law/commercial lease analysis/contract law, analysis of recommendations to galactic ceo, privacy within media, contract law in italy, business and corporate law, popular essay topics.

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Law of Contracts: Everything You Need to Know

Introduction.

Contract law is a collection of legitimate directions which oversee the legitimacy, affiliation, and content of any treaty that exists among corporations, entities, and various other organizations. The agreement concerns the exchange of ownership, interests, the provision of services, and the sale of goods. The law of contract always governs the consequences and conclusions of any form of contract. It describes the duties and rights as well as the requirements and basis of the contracting parties.

Furthermore, contract law regulates contract breaches and offers remedies for such breaches (Christie, 1994). Therefore, since contracts aim at formalizing agreements between parties as regards specific subjects, contract law oversees the conclusion of the contractual responsibilities and obligations. This paper critically analyzes the law of contract concerning the legal issues involved, the ethical issues relating to contracts and offers suggestions for perfection in this particular area of law.

Legal aspects of Contract law

Contract law was precisely defined as a collection of assurances or assurance that could be prescribed by the ruling. A marginally contending description is that binding contracts are treaties that produce commitments that are accredited and prescribed by the prevailing Act. The descriptions are inclusive yet they do not entirely take account of the situational domains upon which the rule of the agreement will relate. However, either of these definitions confirms the law’s involvement using enforcement.

This openly submits that as long as there is a violation or an infringement of the contractual terms, then the injured contracting party has the lawful privileges to pursue infringement remedies using the law courts. Regularly, contracts might surface in a surfeit of conditions instigation from ordering biscuits from the junction stalls to retailing assets or stocks. Hence, it is predictable that there must be certain before any law court can arbitrate to enforce a binding agreement (Collins, 2003). This indicates that, notwithstanding the affluence and convolution, the contract laws had traditionally laid the basic underpinning for the binding treaties that ought to be sealed off to permit the contracting parties to have their agreements to be enforced by the bylaws.

In any contract, there should be an accepted offer that would lead to an agreement. Although at first, this might seem self-explanatory, it is deemed imperative that the contracting parties must differentiate between what the law states would amount to a valid offer and those that will not. In an agreement, an offer can be made by way of conduct, in writing, or orally. Notwithstanding the mode of the offer, it is the offeree’s intentions or willingness that is of great essence and this is subjective. For example, if an individual quotes that he or she would want to sell an apple for $ 2.00 but erroneously advertises it for one penny which makes the offer be accepted, it would mean that a binding agreement has been upheld. The contract cannot be invalidated just because the offer had an error. The certainty is that the offeree had some intentions to sell the apple. However, at this point, it becomes significant to distinguish between an invitation to treat and an offer (Christie, 1994).

In the law of contract, is it true that parties might enter into pre-emptive talks or preliminary negotiations before taking up a contract? Any issues covered during such a session are deemed not to be components of the contract. They are regarded as invitations to treat. Typical cases for these relate to the displayed products on the superstore shelves. The underlined charges merely sum to the invitations to treat. Before the products are taken for price confirmation at the counters, the offer will not materialize. Thus, to complete the transaction and formalize the contract, the client must accept the commodities and pay the total sum. In the auction room, a similar situation is always apparent (Richards , 2007). The offers are merely completed when the eventual clients propose their submissions and consent when the auctioneers’ strikes land down.

The legitimacy of any acceptance is corresponding as critical as the offer cited in the contract law. This should be a definite expression of agreement to the offer terms. As soon as the offer becomes approved, it will not proclaim the objective or approval. There has to be a flawless and unambiguous announcement of the offer approval derived from the terms that an individual making the offer has made known. A counteroffer will amount in case there is an attempt to alter the offer terms. In effect, the parties will have to start afresh in situations where counter-offers materialize, except that the offer will have to be wide-open for acceptance with the offeror replacing the offeree (Liuzzo, 2010). In the first instance, the consequence of the contractual law might not be indistinct at this point. Nevertheless, the law of contract does not merely govern what takes place in case a contract is broken down, but it equally creates the contract terms when a dispute occurs.

Whereas the deal might be self-illuminating as regards to what the partaking parties anticipate, for instance, pay $45 and I will give this milling tool, there must be conditions to be accomplished namely period for supply, the state of the supplies, and the recompense time that should be honored. About this, the most crucial citations are the modes of payments and the value/quality of the commodities. Various regulations are subject to introducing conditions into the obligatory treaties devoid of any settlement or acceptance amongst the mutually agreeing parties that such conditions will equally be integrated into their contract. The Sale of Goods Act 1979 serves as a good example.

This Act ensures that in the course of any business, goods sold to consumers must characterize their descriptions, be fit for their purpose, and must be of acceptable quality (Collins, 2003). The contract law is inclined to safeguard the buyer’s or shoppers’ rights without informing them. To illustrate this, there are phrases often exhibited at counters concerning offers and sales. Such implied terms include “these will not affect the consumers’ legal rights”.

Offer in a contract in addition to acceptance generally forms the discernible treaty settings, despite the fact the consideration obligation is even more apparent. Consideration is a term referring to the monetary exchange for commodities or any valuable thing traded among the contracting parties. This makes it to be the prickliest and compound condition for any legitimately binding contract. The contract becomes more of a promise that could be enforced under the English Law provided some forms of consideration do not exist. However, it is not sufficient that the contracting parties must make such an exchange of worth (Liuzzo, 2010).

In reality, it ought not to be a derisory consideration but instead a treasured consideration. The treasured consideration conception denotes something with the capacity of being appraised in terms of fiscal or pecuniary worth. It is not deemed sufficient that such consideration had previously occurred, there should be a concurrent value taking place through the exchange to produce a formalized agreement. Such technicalities have brought about rafts of case laws deriving from the issues appertaining to what adds up to consideration. Thus, it delineates the significance of the law of contract in arbitrating such disputes.

When the agreements amongst individuals are confirmed as agreements containing monetary exchanges, offers as well as acceptances, there still ought to be an obligatory intent to form legitimate or legal relationships. In commercial transactions, it might be apparent that the contracting parties had the intention of creating legal associations (O’Sullivan & Hilliard , 2010). Despite the intentions, in an informal and relaxed situation, they might still be the inquiry on how serious the contracting parties were. This does not necessarily imply that clients can freely return commodities based on claims that they were not cognizant of the intent of establishing such legalities.

Habitually, the judges may obtain interpretations from the collective acquaintance and how the customers are well-versed on the obligatory nature of a treaty and the intent of sellers to have them pay for commodities. In this instance, the point of reference is where a particular contracting party is well acquainted with the prevalent fault yet fails to notify the other contracting party who misguidedly trusts that formal intents were not known. The court of law is hence bound to draw on the unprejudiced tests to consider every fact relating to the individual cases. For instance, a case that involved a novice lawyer who accepted Barrister Chambers’s offer was found to be in a binding agreement (Collins, 2003).

The treaty was amongst the all-inclusive chambers and the apprentice, but not really amid the principal and the apprentice. It was established that any assertion by the attorney chambers that they hardly had any aims was inapt. From the parties involved, it is evident that the intentions were very clear.

On the other hand, an informal agreement that exists amid cohabitants’ who live in quasi-marital affiliations might result in disputes. This may specifically occur when the relationship breaks up. Primarily, it was questioned whether a treaty would be existent if a home-based mom finds herself lacking an option through the matrimonial statute. In a real sense, the contract was assumed to involve an offer to be upheld by the husband for life and this was acceptable (Liuzzo, 2010).

Conversely, the consideration was to forgo the right to provide a house for the household and to make a living. The exclusive problem related to the prescribed intent to form a ratified association and this seemed like a barrier that could not be outdone by different womankind. Although there are different justice recourses to aid in such circumstances, it functions as an essential case of how the pledging entities may disavow what primarily looked like a realistically tying treaty. The best way of ensuring that a binding agreement depicts the contracting parties’ intention is through writing such an agreement down. A sufficing statement would take the form of, “this contract does not reflect a formalized legal agreement”.

Contracts and ethics

Business entails the production, selling, and exchange of commodities. Business and contract always move together and without one the other might fail to exist. Thus, there are various ethical issues relating to contracts. For example, before getting involved in a contract, the contracting parties must confirm the age of the other party to the contract. This implies that it is unethical to enter into a binding agreement with minors.

Besides, consideration must be taken to avoid contracting with people of unsound minds. Only grown-ups of normal capacity and intelligence should be involved in any contract. When entering into a binding agreement or contract, good return policies should be adhered to after the completion of a transaction. The partaking parties must not desire to benefit at the expense of infringing the rights of other contracting parties.

Statement supporting the argument

The law of contract has been applied in every aspect of human life. This varied from transference and occupation to leisure and collective events like obtaining thirst-quenchers in bars and restaurants. All these activities involve the creation of contracts. Even if most of them are momentary and the conditions look modest and rather unpretentious, the treaty promises are being broken. This calls for more serious contract law enforcement (O’Sullivan & Hilliard , 2010).

The view of the societies as regards to contracts materialize to be distorted given that quite a number of them barely get it indispensable to implement the conditions. Since we are residing in an industrial realm where there are scores of selection liberty, the obligations to promise quality normally disavow the shoppers’ requirement to enact their privileges concerning the appropriateness and worth under the trade treaty.

Most standards seem to be upheld by independent organizations and governmental bodies. Consumers hardly have the urge to enforce contract breaches. If they do, the dealers seem to be quite responsive to their rights to an extent that they hardly permit the questioning of the exchanged commodities (Christie, 1994). This means that frequently, the sellers and suppliers enforce the payment terms by defaulting on the agreements.

Furthermore, credit concerns are presently dominant and promises which regulate currency lending under universal treaties such as credit cards alongside rental purchases are frequently breached. This constitutes the other perspective of the law of contract. Conditions and terms always prevail for both the contracting parties and this should form the basis of a legal contract. The consideration must be observed and without it, there could be nothing above unenforceable promises.

The law of contract needs to adjust with any advancement in social, economic, and technological outlooks. The responsibility lies with the parliament because it is always mandated to strongly arbitrate, enact and introduce new laws to govern emerging circumstances.

The parliament must introduce laws that govern specific associations and the contracts arising amidst them. It is practically impossible to enact laws for every eventuality because unforeseen circumstances, relations, issues, or technology might crop up. These might not have been catered for and it might be very difficult for the law to regulate them. The court is therefore left to interpret the governing laws to find solutions to the ensuing disputes. This clearly shows how the 1818 law of contract was depicted and the level at which contract law will remain in the probable future.

Even though the scope and variability of the prescribed agreements incessantly upsurge and advance, the universal doctrines of the contract law will always stand their validity. However, in the future new systems could be introduced to create a standard agreement and this should be derived from the contracting parties’ affiliations and nature. For instance, companies that operate in a similar market might be compelled to have their dealings under an isolated agreement.

Christie, R. H. (1994). The law of contract . Petersburg, VA: Butterworths.

Collins, H. (2003). The law of contract . Cambridge: Cambridge University Press.

Liuzzo, A. L. (2010). Essentials of business law seventh edition . Boston: McGraw Hill.

O’Sullivan, J. & Hilliard , J. (2010). The law of contract. London, UK: Oxford University Press.

Richards , P. (2007). Law of contract . Upper Saddle River, NJ: Pearson Longman.

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