Contract Law

Can we enter an agreed order? My client agrees that $75000 will be placed into her attorney's trust account, which is subject to equitable distribution. The husband has more than $300,000 in his bank, the Wife never touched them. But, the wife kept $85000 in the marital home. Your client took the money without knowledge of the Wife and gave them to you.

A contract can be defined as “an agreement containing promises made between two or more parties with the intention of creating certain legal rights and obligations and enfoufceable in a court of law”. (Andy & Douglas, 2013, p.307). Though every contract involves an agreement, not every agreement is legally forceable and will result in contract. It is necessary to find out weather the agreement between parties was inteded to be regarded by the law as

Tech Ltd hired extra electricians and worked longer hours to complete the installation as agreed on 20th December.

A contract is an agreement which normally consists of an 'offer ' and an 'acceptance ' and involves the 'meeting of the minds ' or consensus between two or more parties with the intention to create a legally enforceable binding contract. Therefore in this essay, the four core elements needed for the formation of a contract such as offer, acceptance, and consideration and intention to create legal relations will be discussed briefly.

A contract is an official agreement between two parties. There are different types of contract, such as sale and purchase of a business agreement, partnership agreements, lease of business premises, lease of plant and equipment and employment agreements. The format can vary too. It can be face to face, written, or distance selling. The specifications of a contract involve offer and acceptance, the intention to create legal relations, lawful considerations, capacity and legal formalities such as terms and conditions.

In order for a law (“bill”) to receive royal accent (approved by the governor general), the bill must pass through the House of Representatives and the Senate. This article will talk about how a law is passed through both houses and become law under difference circumstances, when the government of the day have a majority in both houses, in the House of Representatives and in a minority government.

Independent sales representatives work to put together profitable sales deals for manufacturers who often don’t have the time or desire to develop relationships for the sale of their products. Sales and manufacturing are often two different mindsets. Manufacturers often rely on independent sales representatives for this part of the process. Paying the sales commission is part of doing business until the manufacturer decides to lower his cost by selling directly to the customer. Once the relationship is built, the money that was paying the sales commission can be saved or invested elsewhere. “A bad economy only increases the cost cutting measures by manufacturers. However, when cost cutting measures involve breaching a prior agreement

First, a contract is a relationship between buyer and seller defined by an agreement about their respective rights and responsibilities. Contracts define an agreed-on relationship between a buyer and a seller. Relationships involve expectations, and that is what contracts are about. When a buyer contracts with a seller to provide products or services, the buyer is essentially melding the seller into its organization. Second, a contract is a document that describes an agreement about rights and responsibilities. In any jurisdiction, a contract is "an agreement governed and restricted by law," and the applicable law shapes the nature of the contract.

What is a contract?- promise or set of promises, for breach of which the law gives a remedy or the performance of which the law recognizes as a duty.

1.Eagle Stores, Inc. borrows $5,000 each from EZ Loan Corporation, First National Bank, and Great Products Corporation. Eagle uses its "present inventory and any thereafter acquired" to secure the loans from EZ Loan and First National. EZ Loan perfects its interest on April 1, followed by First National on April 5. Eagle buys new inventory on April 10 from Great Products and signs a security agreement, giving Great Products a purchase-money security interest (PMSI) in the new inventory. On the same day, Great Products perfects its interest and notifies EZ Loan and First National. Eagle takes possession of the new inventory on April 15. On April 20, Eagle defaults on all of the loans.

A contract can only exist when there is a mutual agreement the parties involved in the contract and the agreement should be based on parties’ free will with no undue influence from the parties involved (Hillman, 2012). It is apparent that Jim and Laura made the decision to buy the car and they went to see the car dealer and initiated the agreement at the same time made an offer for Sedan cars after testing several cars. They agreed to the terms of the contract of sale and promised to come the following day to pick the car. These provided reasons beyond doubt that Jim and Laura were committed to the agreement and both of them were of age and of sound mind which made the agreement a legal contract beyond doubt.

Contracts can be defined through promises between parties that are enforceable through law. We know that both parties agreed verbally, an oral agreement was made to hold the car for one day with a hundred-dollar deposit and Stan agreed to the terms that the deposit was refundable. Contracts can be in in two form which are written or oral. Based on the elements of contracts, many fundamentals factors are considered mandatory to form a contract that is binding on parties and are primarily outlined through the following:

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,

Contractual agreements are supposed to be consensual, and freely entered into by the parties involved. Therefore, ‘before a court enforces a relationship as a contract, the courts must have a reasonably certain basis in fact to justify binding the parties to each other.’ (St. John’s Law Scholarship Repository, no date). Resolution of whether a contract was intended to be legally binding is not determined by what the parties themselves thought or intended. Rather, a more objective stance is taken by the courts. This is known as the objective theory of contract, and essentially enables ‘the courts to look at external evidence (what the parties said and did at the time)’ (Poole, 2006, p. 34), as to objectively indicate the parties’ intentions

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.