NIGEL'S FAIRGROUND LTD

Nigel's Fairground Ltd - A Case Study



Nigel's Fairground Ltd - A Case Study

Question No. 1: Giving examples differentiate between the law of contract and the law of tort.

Law of Contract

Contract is the agreement of two or more wills, in conformity of the legal order, intended to establish rules of interests between the parties, with the scope to acquire, modify or terminate the legal relationship of a patrimonial nature. The Civil Code deals with contract law in more than a thousand provisions, which regulates in detail all relevant questions of the contractual relationship, from its origins, content and any changes to the disappearance. There is always a need to scroll to other parts of the law of contract that deal with such formalities of legal actions that even contracts, or parts of real rights, especially where we find important rules on the acquisition of property rights. In addition to this, the key requirements of the contract law are the existence of two or more persons; generic ability to perform all acts of civil life; specific ability to hire and consent of the contracting parties. The objective goal requirements are the lawful object of the contract and the possibility of the object or entity of the transaction; determination of the object of the contract and economy of its object (Assaf, 2001, 25). Besides it, the principles of law of contract include the following:

The first principle is the autonomy of will, which is the power of the parties to stipulate freely as best suits them, by agreement of wills, the discipline of their interests, raising purposes protected by the law, involving, besides the creative freedom of contract, freedom to hire or not hire, choose the other party and fix the contents of the contract, limited by the rules of public order, morality and the judicial review of contracts.

Second is the principle of consent, according to this principle the mere agreement of two or more wills sufficient to generate valid contract, because most of the business is legal bilateral consensus, although some of them are serious, have validity consent the observance of certain legal formalities.

In the principle of the obligation of the convention, the stipulations made in the contract shall be faithfully fulfilled, under penalty of execution against the delinquent assets. The act of negotiating, as a rule of law, constitute the law between the parties, is intangible, unless both parties voluntarily rescind or there is the excuse for unforeseeable circumstances, the such that one cannot change its contents, even in court. However, it has been admitted that the binding force of contracts is contained by the magistrate in certain exceptional or extraordinary that preclude the prediction of excessive burden in complying with the provision.

Moreover, the principle of relativity of effects of contract deals with the aspect that covenant is binding only on the parties who intervened in it, not hurting or taking advantage of others, except for rare exceptions.

Last but not least is the principle of good faith which deals ...