BUSINESS LAW PROJECT By: Khoo Chin Seng Teng Yee pout 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 to a greater extent 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 essential confer a /meeting of minds. The 2 main types of contracts that are lease in the modern business transactions are gauzy contracts and special contracts. While special contracts, which are also love as contracts by Deed or contracts under seal, posit to be do in create verbally form, dim-witted 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 simpleton written contract, as it was ma de 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 amongst Tham and Perle A-1 Movers.

For a contract to be deemed as licitly valid, it must consist of the cardinal parts that are in relation to the governing body 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 plow if the contract in question is va lid or not, base on the components of the f! our 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 unhurt world, as seen in the case...If you inadequacy to get a teeming essay, order it on our website:
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