business law conditional acceptance Essay examples

Research essay Forming a contract there must be six essential elements which are acceptance, consideration, intention to be legally binding, capacity of the contract and finally legality of the promises.1To archive an agreement between the offeror and offeree there is a formula whereby offer+ acceptance=agreement.2An offer has to be created firstly. An offer means the indication by one person to another of his willingness to enter a contract with the other person on curtain terms.3An offer can either be written or oral example of an offer are email, letters, verbally offering something and internet. The purpose of this research essay is to see how the Australian contract law about acceptance must be unconditional and final. This essay†¦show more content†¦The court held that there was no binding agreement between both of the parties only they had condition to the agreement where one party doesn’t accept it. In other words the both parties was in a negation stage. The high court of Australia had to make the same decision if any future cases arise with the similar facts.12Besides that, similar problem had surfaced in the case of ‘Souter V Shyamba Pty Ltd.13The court had to decide whether the document on 1 may 2002 was a binding contract or the parties just agreed on the price of the hotel, intending that no binding contract would come into existence until the exchange of a formal contract prepared by their solicitor. The court decided that there was a contract between both of the parties because firstly. There were formalities between both of them. Secondly, there was no reference that the document had terms like â€Å"subject to contract† or â€Å"subject to finance†. Lastly they had advice from their solicitor and they knewShow MoreRelatedThe Case Of Postal Acceptance Rule And Conditional Acceptance2064 Words   |  9 Pagescom Acceptance in Contract Law: The case of Postal Acceptance Rule and Conditional Acceptance. Dear Accounting Practice Department, This Letter of Advice is pursuant to your request and enquiry about Acceptance under the Contract Law in Australia, in particular the Postal Acceptance Rule and Conditional Acceptance, related to the operation and management in practice of our organization. Accordingly, the Legal Department sets out below a general background and practice of Postal Acceptance RuleRead MoreLetter Of Advice For A Small Accounting Practice2467 Words   |  10 Pagesvarious forms of contractual acceptance. You are to draft a letter of advice that details the definition of acceptance and the relevant decisions by the courts. Please note that you are expected to provide full case citations in your answer and a reference list. Our Ref: 22 September 2014 Accounting Practice Address: PENRITH 2751 NSW BY Email accountingpractice@hotmail.com Acceptance in Contract Law: The case of Postal Acceptance Rule and Conditional Acceptance. Dear Managing Partner, ThisRead MoreElements of Contract Essay908 Words   |  4 PagesA contract is a legally binding exchange of promises or agreement between parties that the law enforce. It does not prescribe the rights and obligations of the parties. A contract does not need to be in writing to be enforceable. We will evaluate the offer, acceptance, and legal consideration. Written A written contract clearly communicates the details of the deal in writing. Also it eliminates doubt that it exists which is what has to proven in a verbal contract. Written contracts can comeRead MoreQuestions On Australian Contract Law1984 Words   |  8 Pages‘Acceptance is a definite and unqualified assent to an offer, on all of its terms. Any acceptance given conditionally will not result in a legally binding agreement.’ Discuss the accuracy of the above statement with reference to Australian contract law. Rule for the Legal Enforceability of Contract A contract is simply an agreement which has legal value so that it is binding on both the parties, and each of the party can enforce it lawfully in case of any contravention of the terms of agreementRead MoreQuestions On Business And The Law1736 Words   |  7 PagesLEGT1710: Business and the Law Assignment Task 2 Weighting – 20% of Course Mark Advise whether Billy is entitled to the extra $20,000 and the share in the farm? Introduction of the case Choy owned a rural farm in NSW with his second wife Maggie. His son Billy work for Choy on his farm for one year, He is now struggling with whether he can get the extra $20,000 and part of share of the farm which his father Choy has promised earlier to give him additionally after he finished one year work inRead MoreThe Contractual Scenarios On The Content1468 Words   |  6 Pagesthe new coffee beans? (Time of Intention ) 2. Is there a promissory estoppel? Analysis Issue 1: A simple contract includes three elements: agreement, intention to create legal relation and consideration. As an agreement involves an offer and an acceptance, to determine is there an offer will be priority to this issue. An offer clearly states the terms which the offeror is prepared to be bounded by the contract . This must be communicated to the offeree. Refer to Carlill v Carbolic Smoke Ball Co Read MoreElements Of A Contract?1200 Words   |  5 PagesElements of a contract 1. Offer 2. Acceptance (Initiation of contract) 3. Consideration 4. Intention 5. Legal object 6. Legal capacity 7. Consent 8. Formalities Question 1 (a) What is the difference between an offer and an invitation to treat? Invitation to treat : A legal expression whereby one of the parties wishes to invite the other(s) for an offer. Such party does not have the intention of being legally bound just yet but merely wishes to discuss the offer and its groundsRead MoreOffer and Acceptance1530 Words   |  7 PagesBusiness Law: Offer and Acceptance. For a simple contract to be valid one party must make an offer and the other party accept it. ‘An offer is made where a person (the offerer) unequivocally expresses to another (the offeree) his willingness to make a binding agreement on the terms specified by him if they are accepted by the offeree (Card 2002). This offer could be made to a specific person, in which case it cannot be accepted by anyone other than that individual. On the other hand it couldRead MoreProcurement And Contracting : Critical Thinking Colorado State University Global Campus952 Words   |  4 Pagesoffer and acceptance; consideration of a down payment; proving its capability to perform work; and confirmation of legal purpose (Berson, 2015). There are a number of legal instruments that help to implement contracts and procurement procedures. On the one hand, there is a retailer named John who needs to obtain supplies for sale, not necessarily from Care One Medical Services because there are other businesses that sell medical supplies to retailers. In an effort to improve business, Care OneRead MoreExplain the Different Types of Business Agreement and the Importance of the Key Elements Required for the Formation of a Valid Contrac1791 Words   |  8 PagesIntroduction 1a. Different Types of Business Agreements A business agreement is a formally drawn written document or oral promise between two or more parties that details a particular business venture. A typical business agreement specifies details such as cost of goods sold, the product or service required, milestones, insurance, and work completion deadlines. Unilateral Agreement A unilateral agreement or contract is a legal binding one in which one party undertakes a promise without securing