All Rules And Codes That Should Be Monitored

3244 WordsJul 18, 201513 Pages
TASK 1 Everything needs some rules and codes that should be monitored to create it a good one. Thus to create a valid contract there are also some rules and principles to be monitored, to make the contract good one. The elementary principles that must be followed by Linda green to create a contract arrangement with an impending customer is as the offer from one side and acceptance from other side. Contract law implies that this offer and acceptance should be followed by proper principles and rules that are given by contract law. PARTS OF CONTRACT OFFER: in every contract there is an offer that must be lawful and its acceptance is possible. The offer gives benefit to acceptor with some specified work or task. ACCEPTANCE: contract is not…show more content…
INVITATION TO TREAT An invitation to treat is simply an invitation for clients and customers to provide an offer. Contract is formed where there is an offer, an acceptance, consideration and an intention to be bound. An invitation to treat, on the other hand, is merely an invitation for customers to submit an offer. Although it specifies a willingness to contract, it is different from an offer in that it has deficiency of intention to be bound. Like a bid for public by government, this also requires pre contract agreement, negotiation and advertisement. (TransLegal, 2015) TYPES OF CONTRACT VERBAL Usually people called it as an oral contract, because people do an agreement with each other only by spoken words. No written rules are formalized by both parties. In other words we can say that, this contract is expressed in words. For example, the school principal said to the teacher if you teach this course for one month, I’ll pay you 5000 extra in next salary. WRITTEN CONTRACTS These are opposite to verbal contract, in which every rule and consideration is written by both of the parties. It is more beneficial for the both parties because in case of breach of contract, other party can claim through the written piece of paper. Business deals are usually done through written contracts. ONLINE CONTRACRS: In this technological era when deals and contracts are made online. In
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