If the company enters into a contract which is outside its stated objects and if the other party has actual knowledge of the circumstances, the contract is invalid. Certainty of meanings The terms of a contract should be clear that is the contract must not be vague. Contracts which are vague cannot be enforced. For an enforceable contract to exist, the terms have to be certain. We shall also discuss what are the general rules when comes for the formation of a contract and what are the different solutions when comes to the breaching of a contract with example of some cases.
Considerations for Contract Law Essay - Words | Bartleby
Topic Notes. Past Papers. Critically discuss. It would be better to just call the beast by its name and allow the courts to assess whether the deal was unconscionable or not. A change in the law is imperative to ensure clarity in the law and to stop a slavish adherence to the neo-classical theory of contract law.
A Problem Question on Contract Law
In the stated case, the reality of a situation was taken into account, instead of any contractual provision. Any employment dispute should be investigated through considering evidence on how parties conducted their practice, any written terms, expectations of the parties and any other relevant evidence. In the aforementioned case, it was clearly communicated that the court needs to understand whether the…. This is depends on whether there is a valid contract formed between each of the plaintiff and defendant.
To establish the existence of a contract we have firstly seen that we need to find an agreement, this has been explained in terms of Offer and Acceptance. For the courts to enforce such an agreement however there are other elements that need to be found, the one we will deal with next is consideration, the final element is an intention to create legal relations, which will be dealt with subsequently. So what is consideration? In its simplest form consideration can be viewed as the price of the contract.