Contract & Agency Law

Never discuss or disclose information about the company to others except on a “need to know” or “need to use” basis.

Contracts are in every aspect of life. From buying a car to being employed, contracts govern all areas of life. By definition, a contract is “an agreement creating obligations enforceable by law” (Cornell University Law School). “A contract in its most basic definition is nothing more than a legally enforceable promise” (National Paralegal College). That means that any contract that is made legally, which will be discussed later, will hold up in a court of law. The two different parties that join together to form an agreement have to do their part of the contract as it is stated within. Contract law is in place to assure that this happens in the time frame agreed upon while making the contract. “Contracts that were mutually entered into between parties with the capacity to contract are binding obligations and may not be set aside due to the caprice of one party or the other unless a statute provides to the contrary” (Burton).

It is also ensured that the information cannot be accessed and read by those who do not need to be involved. Furthermore, confidentiality is considered as important as is means that the worker will gain support and trust by the person who has given them the information. Also it is important because people may not feel valued and may lack in self-esteem if their private information were to be shared with others. Also, it is important to keep the information safe because it could mean the clients safety could be put at risk if the information becomes public knowledge.

Mistake in contract law, is a factual misunderstanding that may lead to a failure of a meeting of the minds. Unilateral mistake is mean that is only one party is mistaken, but the other party knows, or ought reasonably to be aware of the mistake. Contract may be void or voidable. Void is a contract that is no legal effect. While, voidable is an agreement that may be affirmed or rejected at the option of one of the party. The reason why Lord Denning took the view that these two cases could not be reconciled and how the apparent conflict between these two cases was resolved by the decision in Lewis v Averay was explain.

In order to have civilized interactions between people contract law is an invention that creates good faith and fair dealing. The United States people have a government that has a legal system that enforces agreements called contracts. An agreement without enforceability leaves the parties vulnerable to mistakes, dishonesty, changes of mind, illegality. Also, a contract means that the people can have reliability in their relations. People can have their problems remedied and damages made up for. Contract enforcement makes a more stable platform for businesses, making them more likely to do business and helping the economy,

It means that consideration is the price for which the promisor agrees to perform his promise and is a vital requirement for agreements to be legally binding on the parties. Therefore it can be taken that a consideration can be a positive consideration or negative consideration.

In Prime Creative Media Pty Ltd v Vranijkova and Motoring Matters Pty Ltd (2010), the Federal Court explained that ‘the protection that should be afforded to information was not afforded due to its confidentiality or from any secrecy surrounding it, but rather afforded protection because of the purpose for which the information had been compiled and because the information was not accessible to those other than business’ employees.’

He also concludes that RTE’s email response to the referential bidding query - “did no

The definition of “Proprietary Information” in this form provides that information can be considered Proprietary Information regardless of whether it is marked “confidential.” Including such a provision can help the parties avoid an overly burdensome diligence process and any accidental failures to mark information as confidential.

Contract is an agreement between two or more competent parties in which an offer is made and accepted, and each party benefits. No contract can come into being unless the following features exist: an actual offer, an acceptance, consideration (this means that each party will contribute something of a material value to the bargain) and an intention to create legal relations. The agreement can be formal, informal, written, or just plain understood.

Successful contract creation is essential for two or more different parties to conduct business. A contract needs to be full of specifics and lacking in ambiguity, otherwise interpretations, based on needs and experience, can and will be made by both sides. One such area of potential ambiguity in a contract is that of agency. Agency is a relationship where a principal (business owner, company officer, etc.) appoints an agent and “the agent is the representative of the principal and acts for, in the place of, and instead of, the principal.” (USLEGAL.com, 2010, Agency). In the video The Nature of Agency

What is a contract? There is no exact definition of a contract stated in the English law, but a contract simply occurs when two or more people comes to an agreement, under the law, to refrain or to do something having a legal relations and not just an exchange of mutual promises. In common English law, there are 3 essential points in order to create a contract, which is, the agreement, contractual intention, and consideration in both parties. Typically, an agreement can happen when one party makes the offer, which is then accepted by the other party. To decide if the agreement is valid, the court will have to do an objective test. The “ freedom of contract “ has an important impact on the English law of contract today since it allowed parties the freedom to make any agreement they want to make as long as they are legal and also that the agreement doesn’t include any form of unfairness or unjustified influence. In this essay, it will cover when a contract arise and the different ways a contract may come to an end under the English Law.

The word "Contract" means a legally binding exchange of agreement or promises between two parties which the law can enforce. Contract law is originated from the Latin phrase know as "pacta sunt servanda" means promises has to be kept. Any kind of violation of any kind of contract is fully recognized by any law of the land and the result of such violation can be provided. In general life, almost every citizen makes contract everyday. For example, when purchasing a house, written contract is required.

Contract law is a fundamental concept of relational contract theory, it plays an important role in business and has always been an important topic for discussion in sociology, economy, commercial studies, and other sciences, though the term “contract” can have various meanings, it is most often used to denote methods of conducting exchanges, it implies planning the bargain with careful forecasting of its potential consequences and also the use of legal sanctions to ensure the success of the exchange or compensate for its failure. However, contract should not be equaled to the exchange procedure itself, it also should not be applied exclusively to written agreements and documents that accompany the transaction.

information which was known to the receiving Party prior to disclosure by the Disclosing Party;