Legal Problem Solving Technique Essay

Mr. Potbelly and Mr. Slim Jim are two competent people who voluntarily entered into an agreement for the purchases of the pottery and the home. Mr. Potbelly presented Mr. Slim Jim with the original offers and Mr. Slim Jim counter counter-offered within reason of the asking price. The conversation had between Mr. Potbelly and the other individual should not be grounds for him

As Privy Council held in the case of "Wagon Mound (No 1)" that a party can only be held liable for damage that was reasonably foreseeable, the defendant should not be responsible for losses that are ‘too remote’ from the breach. It is obviously that the university could foresee that Brad have to quit his job to finish the degree and also need to pay for the fees.

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.

Answer: Carnack is correct because Willard entered a contract that states that the deposit of $10,000(down payment) as liquidated damage. The contract was reasonable in its damage amount and unlikely to tell when a possible breach was going to happen, therefore the owner can obtain compensation. When Willard breached her contract by not being able to finance the $90,000, Carnack is entitled to obtain a certain amount of money.

b. Joe paid $180 for entertaining a visiting out-of-town client. The client didn’t discuss business with Joe during this visit, but Joe wants to maintain good relations to encourage additional business next year

A contract is a legally obligatory promise or set of promises (Bagley, C. 2013). If this promise is broken, either party involved can be legally responsible and take the other party to court. There are four basic elements in the creation of a valid contract. The first consist of an agreement between the parties involved, by an presented offer and acceptance. The second states that the parties’ promises must be supported by something of worth, known as consideration. The third advises both parties must have the ability to enter into a contract. The fourth element states the contract must have a legal purpose (Bagley, C 2013).

1. Before maturity, a bond may be selling at the face value or at a price greater or lesser than the face value.The terms “premium” and “discount” refer to the difference that exists from the face value of the bond. Bonds selling at a price greater than the face value are said to be at a premium and the bonds selling at a price lesser than the face value are said to be at a discount.

The area of Law concerned in this case is The Law of Contract specifically relating to the revocation of an offer and counter offers. The case Wolf and Wolf vs Forfar Potato Co Ltd (1984) directly links to the case between Bruce and Ken. As Bruce is once again dealing with the Law of Contract specifically the non-acceptance of an offer, he is under no legal obligation to sell Ken the rare vinyl at the original price of £40. When Ken rejected the original offer he created a counter offer which in Scots law is a completely new offer and caused Bruce’s original offer to lapse and was up to Bruce to decide wether or not to accept the new terms, after Bruce rejected the counter offer all offers between Bruce and Ken had lapsed. When Ken came back insisting that there was a contract between them and he was entitled to the album Bruce was in fact under no legal requirement to give Ken the vinyl as all offers had lapsed and no contract existed between then.

I will take a step by step analysis of the situation between Brenda and Albert. Firstly, I will advise Brenda and afterwards Albert. I will present the facts chronologically, as given to me, and advise on each issue individually with supporting evidence. I will refer to court cases and legislation such as Consumer Rights Act 2015, Sale of Goods Act 1979, The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 and Unfair Contract Terms Act 1977. I will conclude by stating that despite the overwhelming evidence against Albert, supported by precedent court cases, there is no legal contract between the parties. I will provide Albert with legal advise assuming both business to business and business to consumer

In this assignment I will be giving advice to Rick’s girlfriend on whether she has a legal right to return the laptop that Rick bought for her. I will be analysing whether a valid contract was formed and who it was formed with.

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:

A contract is an agreement made with an intention of legal rights and obligations which the law will enforce. It contains the agreement, consideration and intention. It also have some other things to consider, like capacity of parties, genuine consent or legality of object.

Contract Law Case Study Both the parties in the question have come to a problematic situation

A contract is a written or spoken agreement between two or more parties that involves the exchange of two promises, which is intended to be enforceable by law. The four basic elements are the offer, consideration, acceptance, and mutuality. When elements are broken down individually, each one is just as important as the next. If one of these elements are broken or misunderstood, it could mean result in the contractual agreement becoming not valid and end in lawsuit. The overall purpose of the contract is for legal purpose and to keep a order within an agreement.

X permitted S to take the lamps. On the next day the price of the lamps on the market rose to $60.00 each. On the same day B sent his truck to pick up the refused lamps from X, and was told that the lamps had been turned over to S. B immediately contacted X and told him that "We have no deal, and I want my lamps back right now." Claiming that he had a contract with B, S refused to return the lamps.