Contract essay

Contract essay

Many people from different careers are on zero hour contracts including low-paid jobs such as McDonalds’ employees as well as high-paid careers (Blanchard, ). Considering the advantages and disadvantages of zero hour contract on both the employer and employees, this essay argues that zero hour contracts should be banned Quiz yourself on Contracts, Exam 1 of 45 law essay practice questions and writing exercises by Quimbee. Built to emulate law school and MEE exams Essay on Contracts. Words 6 Pages. Contracts A contract is formed between two or more parties. In order for a contract to be legally binding there must be offer and acceptance. This simple basis for a contract is not as clear cut as it first appears. In certain circumstances it is often necessary for the two parties to the contract to

An Essay About Contracts - Term Paper

Any subject. Any type of essay. A contract refers to a voluntary agreement between two or more parties that is lawfully enforceable as a legally binding agreement. There are various elements of a contract that must be met for any contract to be legally binding between the parties involved.

These elements include; offer and acceptance, consideration, capacity and competency, mutual consent and writing requirement. The terms of a contract essay have specified meanings. Some contracts spell out the benefits that that are derived by third-party beneficiaries or instill requirements on third-party obligors. Contract law also specifies the future performance obligation of a third party that must occur to satisfy the contract. The law also provides remedies and defenses for non-performance for the parties contract essay. In addition, this paper will also decide whether or not there was a contract for the contract essay of the automobile and also identify the facts from this scenario which support the decision on whether or not a contract exists for the purchase of the automobile.

According to Smith and Atiyah, for any contract to be legally binding, it must have the four elements of a contract, contract essay. The first element in a contract is offer and acceptance. An offer expresses the willingness of an offeror to contract on a particular set of terms with the intention that in contract essay the offer is accepted, he or she will be legally bound by the contract.

On the other hand, contract essay, an acceptance expresses an absolute and unconditional agreement with every term outlined in an offer. In fact, an acceptance can be in writing or oral. Furthermore, another element of a contract that exists in this scenario is a consideration. A consideration refers to a promise of something that has a value that is provided by a promissor for the exchange of something of value provided by the promise.

Moreover, capacity and competency is another element of a contract, contract essay. According to Kronman, for any contract to be enforceable at law, the parties involved must have the legal capacity to enter into any contract.

As such, where the parties involved are natural persons, they must attain the majority age and must also be competent, contract essay. Jim and Laura and Stan have the legal capacity and competency to enter into a contract. Besides, writing requirements and formalities is another important element of a contract. A written contract must be signed by all parties involved. However, a contract may be oral. An oral contract can either be implied in facts or implied in law.

In an implied in fact contract essay, the parties involved receive the benefit of the bargain. In relation to the elements of a contract, it is evident that there was a contract for the purchase of the automobile between Jim, Laura, and Stan.

Firstly, there is an element of capacity and contract essay in the contract for the purchase of the automobile. This is due to the fact that both parties are not minors and therefore have the legal capacity to enter into contract essay contract Kronman, Furthermore, contract essay, as natural persons with sound minds, Jim, Laura, and Stan are competent enough to enter into the contract for the purchase of the car. Thus, this element proves that there was a contract for the purchase of the car.

Moreover, contract essay, the element of consideration also exists between the parties in the contract for the purchase of the car. For one, each party in the contract received something for value. This consideration contract essay sufficient and also moved from the promisor to the promisee. In addition, there was a mutual consent between the parties that prove that a contract for the purchase of the automobile exists between Contract essay, Laura, and Stan since the buyers agreed to pay the down payment which was then accepted by the seller.

Additionally, the contract between the parties existed since there were an offer and an acceptance of something of value. According to contract essay law of contract, any agreement is legally binding and enforceable at law if there are an offer and an acceptance between the parties involved. In sum, the contract for contract essay purchase of an automobile exists between Jim, Laura, and Stan since the elements of a contract were met in the arrangement.

The existence of an offer and an acceptance and consideration binds the two parties to the contract for the purchase of the car. Also, contract essay, the legal capacity, contract essay, competency of the two parties and the existence of mutual consent between Jim, Laura and Stan proves that a contract for the purchase of the automobile exists between them as specified by law. Hence, Jim and Laura are legally bound by the contract for the purchase of the car they entered with Stan.

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How to Analyze Consideration on a Contracts Essay (\

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The Contract Law: [Essay Example], words GradesFixer

May 15,  · The major elements of a contract are: offer, acceptance, legal consideration, object, capacity of parties, and consent. In business contracts, an offer refers to what one party is willing to do for the other party. Alternatively, it can be something that Oct 08,  · A contract refers to a voluntary agreement between two or more parties that is lawfully enforceable as a legally binding agreement. There are various elements of a contract that must be met for any contract to be legally binding between the parties involved. These elements include; offer and acceptance, consideration, capacity and competency, mutual consent and writing blogger.comted Reading Time: 6 mins Sep 30,  · Introduction: A contract has six important elements so that it will be valid which is offer, acceptance, consideration, intention to create legal relation, certainty and capacity. If the main elements are not in contract, it would be an invalid contract. Title: