Law is to tolerance a lower degree of specificity in agreements than classical contract law would have tolerated for example, in an offer for the sale of real property, the offer will lack the necessary. Define offer or proposal and describe the essential of valid offer or discuss the various conditions of valid offer and discuss the types or kinds of proposal proposal or offer :- proposal and offer both are used in the same sense and there is no difference in their meanings. Business law on luxury goods - contract void or valid has now been delivered but she is unable to pay for it discuss first of all, the law of contract has been defined as an agreement which is legally binding between the both of parties. Offer and acceptance analysis is a traditional approach in contract lawthe offer and acceptance formula, developed in the 19th century, identifies a moment of formation when the parties are of one mind.
The rules of contracts often vary from state to state if you have questions about whether there has been valid offer and acceptance to a contract, a business attorney familiar with contract law and contract drafting and review can help. To make sure you have a valid contract, you should discuss the particulars of your contract with an experienced attorney who will represent your legal interests as oftentimes there is a lot of ambiguity innate in the law and the written words of a contract, a lawyer can facilitate that your legal rights are enforced. Elements of a contract the requisite elements that must be established to demonstrate the formation of a legally binding contract are (1) offer (2) acceptance (3) consideration (4) mutuality of obligation (5) competency and capacity and, in certain circumstances, (6) a written instrument. The three requirements for a valid offer are: the offer must be definite, it must appear to be seriously intended, and it must be communicated to the offeree under what circumstances can an offer be definite and yet the price not be definite.
By placing this offer in the mailbox with appropriate postage, it will be considered a valid offer the offeree, in turn, may accept the offer by communicating the acceptance in writing. Legal and non legal rules 11 1 explain the difference between a legal and non-legal rule a legal rule is a rule created by the government of australia and applies to the entire population, while a non-legal rule is created by an individual or organisation and only applies to a specific group. Rules of intention to enter into a legally binding agreement, and consideration are two elements which need to be apparent before a contract will be seen as valid in the eyes of the law consideration is the idea of value in law.
An offer to be valid must create legal relationship between the parties the very purpose of entering into an agreement is to make it enforceable at a court of law if the offer has not been made with this intention it will not become a contract even if it is accepted by the party to whom it was made. Important legal rules regarding to a valid acceptance are as follows: a contract, as already observed, emerges from the acceptance of an offer section 2(b) states that a proposal when accepted becomes a promise and defines 'acceptance' as when the person to whom the proposal is made. If the offeror seeks to revoke the offer, but the offeree accepts the offer before notice of the revocation, a valid contract is created a conditional acceptance is a counteroffer for example, if jones accepts the $10,00000 price, but adds a term by stating that new tires must be put on the car, this is a conditional acceptance and therefore. The object and purpose must be legal for a contract to be legal if its purpose is illegal because of statue of common law, the contract may be void if the formation or the performance of a contract is illegal, resulting in a crime and/or tort, or opposing public policy or interest, the contract is usually considered void. Once the seller has signed the offer to purchase document, it is a legal and binding contract and the purchaser need not be informed of the seller's acceptance, for the document to be valid the offer can only be accepted by the person to whom the offer is addressed, or his duly authorised estate agent.
A contract may be legally defined as a voluntary, legal, written agreement made by persons with the proper capacity it should include: 1) an offer 2) an acceptance and 3) consideration, or an exchange of value. The law of contract is a set of rules governing the relationship, content and validity of an agreement between two or more persons (individuals, companies or other institution) regarding the sale of goods, provision of services or exchange of interests or ownership. The contract involves an offer (or more than one offer) to another party, who accepts the offer for example, in a contract for the sale of a piano, the seller may offer the piano to the buyer for $1,00000. Silence by the offer will normally not constitute acceptance unless the offer authorizes silence as a valid form of acceptance, there are previous dealings that imply acceptance, or the offer exercises control of, receives benefit from, or exercises dominion of goods.
A counter offer is where an offeree responds to an offer by making an offer on different terms this has the affect of destroying the original offer so that it is no longer open for the offeree to accept. C unenforceable-otherwise valid but for which some defense why have offer and acceptance rules c legal significance of an offer 1 offer creates power of. Offer and acceptance analysis is a traditional approach in contract law used to determine whether an agreement exists between two parties an offer is an indication by one person to another of their willingness to contract on certain terms without further negotiations. Statement was made to determine whether it was a valid offer valid under texas law, contracts involving the sale of real guide to texas contract law.
There essential elements or pre-requisites of a valid contract are offer, acceptance, consideration, intention to create legal relations, certainty and capacity offer the offer is the first part of a contract. Contract law is one of the oldest and most established areas of jurisprudence, yet the elements for a contract are simple all that is required is an offer, acceptance of the offer and consideration within that simple framework, complicated issues can arise for example, a common question is. In order to accurately understand the concept of agreement it is crucial to understand when a valid offer has been made an offer is made when a party, known as the offeror, presents terms of a contract to another party.
Contract law is complicated, and the applicable rules and standards may vary from state to state if you desire to enter into a contract, a business attorney can help with proper drafting to provide you with protection later on. Conditions for an offer to be valid state the meaning of acceptance of an offer and describe the modes of communication and elements of consideration in a contract. Rules for a valid offer an offer to be valid must fulfil the conditions discussed below 1 intention to create legal relationship an offer must intend to create legal relations, an offer must be such that when accepted, it will create legal relationship among the parties 2.