English Law Of Contract Allen And Overy

1463 Words6 Pages
This case can be analysed using the provisions of English Law of Contract Allen and Overy (Online) define a contract as “an agreement giving rise to obligations which are enforced or recognised by law.” In common law, a contract is formed when three basic requirements are met, namely: (i) Agreement; (ii) Contractual intention; and (iii) Consideration. These 3 are the essential ingredients of a valid contract. Agreement has to do with offer and acceptance. An agreement is reached when one party makes an offer, which is accepted by another party.My advice to the parties as to their legal positions will be based mainly on offer and acceptance including the postal rule. Their contractual intention may also be examined based on the facts of the case. Before then, it is important to examine into details what constitutes offer and acceptance. An offer is made by the offeror to the offeree. The offeror is the person making the offer while the offeree is the person to whom the offer is made. An offer is an expression of willingness to contract on specified terms, made within the intention that it is to be binding once accepted by the person to whom it is addressed. An offer may be express (stated in written or spoken words) or implied (expressed by the conduct of the parties involved) in order to be valid. Other essentials of a valid offer are: - a valid offer must intend to create legal relations. Therefore, an offer which is intended to perform social, religious or moral acts
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