CONTRACT LAW

Contract Law - Offer and Acceptance

Contract Law - Offer and Acceptance

Introduction

In the given case, the law which will be used is the contract law. Contract law is a sub-sector liability law, a set of legal rules governing the civil liability arising from different types of contracts. Includes separate institutions of contractual obligations (purchase, lease, contract, etc.).

The main source of civil rights and obligations is a contract that defines the mutual rights and obligations of the parties. From the quality of the contract depends on economic security and business reputation of the entrepreneur. To say that the treaty should be made wisely makes no sense. However, in practice, often typical of the contract, most of which do not protect, and often violate the rights of one or both sides.

Background of the Case

The case involves a small business entrepreneur, Farah. She operates a small business from a shop called 'Mystic Journeys'. She sells clothes and equipment for trekking and camping based activities. In order to promote her business she creates a website where she states that she has '50 Light bright jackets with a built in torch for £70 each as these are usually sold at £120'.

Farah also places an advertisement in the local paper. Which reads “ the first ten people to complete 2 miles through the maze set in local ancient woodland between 12 and 2 am on 31 October will receive a highly sought after genuine Bronze compass at a the much reduced price of £ 50”.

Fabians saw Farah's website and sent an email saying that he would buy 20 light bright jackets for £60 each because he was buying in bulk.

In the mean time, Farah was sitting in the local coffee shop with her sister Zara to whom she said 'I will sell you the rare Gold Compass for only £50'. Zara had to leave as she was late for work and Farah then spoke to Aki who asked about the Gold Compass and Farah agreed to sell it to him for £80. Later that evening, Aki bumped into Zara and told her of his purchase of the Gold compass from Farah. Zara was upset as she wanted to buy the Gold compass and she immediately posted a letter to her sister to say that she accepted Farah's offer to buy the Gold compass for £50.

As Farah sat there in the coffee shop, Jon walked by and said to Farah 'I like those bronze compasses you mentioned in the paper, I will buy 5 of them for £50 each. If I hear no more from you I will collect these on Saturday at 3pm'.

On Friday, 31 October, 10 people turned up having seen the advertisement in the local paper and began to walk the maze in order to get a bronze compass at a reduced rate. 9 people completed this and Farah gave them a Compass each at the significantly reduced price. The 10th person, Peter, was still walking around the maze and he argued that ...