Contract Law Consideration

Most time, acceptance would be made in clear and loud matters, such as saying “Yes, I accept.” But silence would constitute acceptance of an offer where the common-law and statutory law allows. Supreme Court of Nebraska has confirmed in Joseph Heiting and Sons v. Jacks Bean Co that acceptance may be established by silence or inaction of an offeree and acceptance occurs when the buyer/offeree “does any act inconsistent with the seller/offeror’s ownership...” Neb. U.C.C. section 2-606(1)(c). In Joseph Heiting and Sons v. Jacks Bean Co, 463 N.W.2d 817, 236 Neb. 765 (Neb.,1990), Heiting (Plaintiff) offered to sell its beans at the posted price on September 30, 1987, but was never informed of acceptance or rejection of the offer. Heiting and Jacks

Keith is also refusing to pay the extra £2,000 promised to Tech Ltd and Simon is also seeking to recover the £50 promised by Keith.

There is consideration present here since according to the ‘Doctrine of Consideration, ' promises will legally enforceable if you ‘ask for something in return for ' something else. Here, Ken asks for £12,000 in return for his work to build Jack 's conservatory. Therefore, when Jack ‘accordingly contacts Ken to say that he will be employing him to do the building work, ' Jack has accepted Ken 's offer, and both parties have entered into a legally binding contract. Jack 's statement qualifies as an acceptance since there is correspondence between the two parties, whereby both the offer and acceptance are on the same terms; there is nexus, where the acceptance is in response to the offer; and finally, there is communication on both parts. Moreover, when Jack states that he will accept the ‘most competitive ' tender, he could argue that the recommendation from ‘Barnie, ' his ‘neighbour ' who expresses that ‘Ken is an excellent builder ' constitutes Jack 's meaning of the ‘most competitive. ' However, this is not relevant unless Bob wishes to argue in court that Jack 's proposal was indeed an invitation to tender, which constitutes an offer, as according to Harvela.

A contract is defined as, “a legally enforceable exchange of promises or an exchange of a promise for an act that assures that parties to the agreement that their promises will be enforceable (Kubasek 2015).” Contracts are essential for businesses to conduct business with one another. Before delving too far into the Muscadine grape case, it is also important to note that a sale is the, “passing of title to goods from buyer to seller for a price (Kubasek 2015)” and that a good is considered, “tangible personal property (Kubasek 2015).” Muscadine grapes and their by-products are the goods in question. When considering any legal case it is important to first consider the facts and the issues that are being considered.

Bernie a resident of Richmond, Virginia decides to sale his 2006 Ford Fusion for $13,000.00 and places an ad in his local newspaper on February 1st. After several weeks without any inquiries, Vivian contacts Bernie on March 1st stating she will pay him $12,000.00 for the car. Bernie arranges to meet with Vivian on March 5th to complete the deal. Vivian comes to Bernie’s house on March 10th and says she will give Bernie $12,500.00 for the car; but she needs three additional weeks to come up with the money. Bernie agrees but only if Vivian puts down a deposit. Vivian agrees and Bernie drafts an agreement stated the sale will must take place no later than March 31st. Vivian reads and signs the agreement and

?As a general rule, parents are not liable for the contracts entered into by their minor children? (Kubasek et al., 2016, p. 226). Cercel and Scurtu advised civil law regulates that there is "limited legal capacity of minors between 14 and 18 years of age" given the assumed insufficient psychological magnitude to exercise legal rights (Cercel, S., & Scurtu, S., 2015). Despite the fact that my son was turning 18 soon and irrespective of Marshall?s awareness to my son?s age, my son was only 17 and was not authorized to act on my behalf.

The recommended approach to be pursued will be contrary to Richard and Bridget. It shall be to argue ‘no fault or negligence’ and adopt ‘Penny’s’ information as admissible evidence to present a relationship of trust between Natalie and Elizabeth. During engagement as an officer of the court) ASCR 4.1.5 provides ASCR and relevant law must be adhered to. The form of lawyer adopted shall be the ‘responsible lawyer, ‘focusing on the lawyer’s role as an OC.... has an overriding duty to maintain justice’

It can also be counter argued that the delay of one instalment out of fifteen required under the agreement could not amount to a repudiation as this will not be sufficient to cause a substantial loss of contractual benefit to Indiana, specially when Simon have already submitted the funds, unless the delay was unreasonably long. Another equally significant aspect in favour of Simon is that this contract is a long term agreement with divided obligations. Therefore, Courts generally consider two important aspects. Firstly, the ratio that Simon’s breach bears to the whole contract, which undoubtedly is significantly low, and secondly, the probability of reoccurrence, which Simon could argue is minimal if he can submit evidence of previous payments

would give 100 £. The company then deposited 1,000 £ in a bank to show

To fully understand the impact of Williams v Roffey Bros & Nicholls Ltd [1989] on the doctrine of consideration, its is important to examine the doctrine more closely. Traditionally, modern English law has largely abandoned the benefit/detriment analysis and prefers the definition provided by Sir Federick Pollock that “consideration may be defined as an act of forbearance of one party, or the promise thereof, being the price for which the promise of the others is

other in order to form a contract, the value of the consideration need not be

Consideration can be classified as one party expect to get benefit from other according to the act performed by parties with a contractual deal. The benefit can be something valuable such as product or service and not only the money. It can be divided into 3 type of consideration which is executed, executor and past consideration. Executed consideration defined as when the promise carried out and thus the act has been carried

A Contract requires several elements in order to be considered enforceable. However for the purpose of this essay we would explore one of these elements in order to effectively understand the controversial cases of Williams v Roffey Brothers and Nicholls (contractors) Ltd (1990) and Stilk v Myrick (1804). Before going any further one should briefly understand the doctrine of Consideration. Despite the vast amount of content written, the doctrine of consideration is still to this day unclear due to the inconsistency of the courts and its application of necessary rules. Consideration refers to that which the law deems as valuable in that the promisor receives from the promise that which was promised. In other words, it is the exchange of something of value between the parties in a contract. One should be mindful that in English law, every promise may not be legally enforceable; it requires the court to distinguish between are enforceable and non-enforceable obligations. This brings us to the controversial cases of Stilk v Myrick and Williams v the Roffery brothers. Many argue that that the case of Williams was wrongly decided leading to impairments in the rule initially established in Stilk v Myrick. This essay seek to analyse and critique the cases of Stilk v Myrick and Williams v Roffey Brothers and also highlight whether or not the new rule of Practical benefit lead to serious impairments in later cases.

Introduction: In this assignment I will go over a few legal terms in relation to contract law. I will also talk about a few precedents that help explain the law.

1. For the following types of undertakings, which contract modes are most appropriate? Be prepared to explain the rationale behind your choice.