LAW OF CONTRACT

Law of Contract



Table of Contents

Introduction2

Background of the Case4

Critical Analysis of Case under the Law of Contract5

Elements of Contract6

Subject to Contract7

Acceptance of the Offer8

Offer and Acceptance Should Be Complementary8

Consent10

Suggestions to the Rajesh11

References13

Law of Contract

Introduction

The objective of this assignment is to discuss the case with reference to the British law of Contract. The case will be analyzed by keeping in mind the essential elements of law of contract. 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 law of contract which we are going to analyze here is actually the enforcement of promises. Every contract is not enforced by court. For the enforcement of promises, or an agreement court observe some elements. After having a check on these elements, court will prove that agreement as a contract. The contract actually involves a process of certain elements. The process starts from an offer. For the formation of the contract the offer must be accepted, unconditionally. There are certain more requirements for the offer and acceptance. After the communication of acceptance, law needs two other elements as well. One is consideration another is terms of the contract (Poole, 2006).

English Contract Law was established during the industrial revolution. England and Wales regulate these rules. It shares a common heritage across the countries of Commonwealth including Canada, Australia, India and United States. With the increase in European influence, the law is undergoing continuous reform and change. A contract is a name given to any agreement that is enforceable in court. English law gives enormous importance to obliging the rules of the court. According to UK contract law, it is mandatory for both parties to fulfil the terms of the agreement; otherwise, the innocent party has the right to claim damages in court against the other party. It is also important to analyze the terms and conditions of the contract before a claim of penalty is made by the seller (Beatson, 2002).

According to UK law, the price, specification, subject matters, terms of payment and conditions must be clearly specified, so there is no ambiguity and contract could easily be enforceable. However, the terms and conditions of the contract in such a situation were clearly defined. The subject matter was mentioned, and terms of payment were clearly discusses, and the contract was based on mutual consent of the parties. Hence, the agreement is enforceable, and a claim of penalty or damages could be easily made by the seller. Moreover, it is important for the seller to recover the due amount and penalty from the buyer until and unless, the seller is completely insolvent (Contract law, 2009).

To be valid in the eyes of the law, the contract must meet four basic conditions essential:

Consent;

Capacity;

The purpose of the contract and

The cause

If one (or more) of these conditions is not met, it may be that the contract is ...