Law case Essay Example | Topics and Well Written Essays - 1500 words

Law case - Essay ExampleBeths boodle fell alarmingly.Beth advised Morris that financially she could no spaciouser prolong with the agreement and would have to close the business. Further, she accused Morris of knowing that the competitor was just about to open up and thitherfore she was commencing legal action to rescind the use up based on fraudulent misrepresentation.Morris contacted Beth and made the following comments I absolutely deny your accusation. By my reckoning you s work owe me $55,000. However, if you continue with the agreement Ill reduce that amount to $35,000. Beth accepted the deal.Six (6) months later Beth landed a huge contract laminating all the posters for a chain of tourist attractions along the north coast of New South Wales. Beths profits have so atomic number 18d. Morris is now demanding that the original contract price be complied with (i.e. Beth pays the remaining $55,000).This discussion is going to specifically deal with what a valid contract contai ns, because if these elements are essential to determining a valid contract. This is make from a exchange of goods perspective however the basics are the same whatever the type of contract. in the long run this discussion will stress the importance of these elements and the necessity for all three, i.e. agreement, consideration and intention, to be present or the contract is void or voidable. The first element that will be dealt with is the notion of agreement in the midst of the seller and the buyer. This element contains the ingredients of chap and adoption. The notion of a valid offer has to be distinguished from a mere invitation to carry on, for example goods in a store on display is a mere invitation to treat and an offer happens until the buyer takes the goods to the sales person and it is the discretion of the sales person to accept the individuals offer to buy. The sale of goods concerns a bilateral agreement which consists of an exchange of promises, i.e. Item on sa le for 10.00 (Invitation to Treat) Item taken to till which equates to - I will buy this item for 10 pounds (Offer) 10 pounds asked for by sales person (Acceptance) thence important with the sales of goods, when it comes to the standing of an advertisement or goods display or the communication of acceptance because there has to be an exchange of promises as opposed to the offeror alone making a promise and the acceptance is the act that the offeror has promised to pay for (unilateral agreement), i.e. rewards for lost items returned to the offeror. Therefore the sale of goods concerns a bilateral agreement, where two promises are exchanged as the offer and acceptance. An offer is a clear promise to be bound, as long as terms are accepted. A valid offer must be clearly communicated by writing, mouth or act in order to allow the other person or radical of persons1 to decline or accept. In relation to sales of goods there is no requirement for the agreement and offer to be in writing, as with the sale of property however the offer has to be certain in its terminology and must be clearly distinguishable from an invitation to treat. In respect to certainty of terms both parties must make their intentions clear, as the courts will not enforce a vague agreement2 or an rudimentary agreement3 in addition it has to be more than a wish to enter negotiations, which the individual does not destiny to be bound (invitation to treat)4. Therefore the elements of a valid