BUSINESS LAW PROJECT By: Khoo Chin Seng Teng Yee heather mixture Chua Kim Huay, Jane 31 October 2011 defer OF CONTENTS Introduction...3 Elements of a Contract....3 INTRODUCTION [0001]In this world, in that location are more forms of distils. So what is actually a narrow? It is define as an agreement giving rise to obligations which are enforced or recognized at law And the parties to the subscribe must(prenominal) confer a /meeting of minds. The two main types of contracts that are lend oneself in the modern business transactions are sincere contracts and special contracts. While special contracts, which are also fuck as contracts by Deed or contracts under seal, locate to be make in create verbally form, unbiased contracts screw be made orally or in writing. In this assignment study case, as set out, concerns two parties: Tham and Pang, who acted on behalf of Perle A-1 Movers; the contract here in question, is a naive written contract, as it was made without any formal requirements, such(prenominal) as needing it to be sealed. ELEMENTS OF A CONTRACT [0002]Firstly, we realize at the issue of whether there was a valid contract surrounded by Tham and Perle A-1 Movers.
For a contract to be deemed as de jure valid, it must consist of the cardinal divisions that are in relation to the formation of a contract, and that the courts allow for enforce as a legally binding contract: offer, acceptance, consideration, and intention to create legal relations. In this section, we will look at these quadruple core elements, and question if the con tract in question is valid or not, ground o! n the components of the four elements of a contract. Offer [0003]The first element of a valid contract is offer. An offer is an expression made by one ships company (referred to as the offeror) to another society (referred to as the offeree), communicating the offerors willingness to perform a promise. An offer can be made to an individual, group, or to the integral world, as seen in the case...If you inadequacy to get a sufficient essay, order it on our website: OrderCustomPaper.com
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