Legal Ramnifications Evaluation

Chinese philosophies, like Confucianism, Daoism, and Legalism, were brought in by the Chinese to help implement a strong and fair governing system in order to keep the citizens of China. They would use the different ideologies and find a similarity in all of them in order to keep together the empire. With Daoism, the government would put their trust in the people to self govern themselves and thought that political involvement and education were not needed. Confucianism would revolve around family values and order in the empire. Finally, Legalism would use fear to keep the people in check with harsh laws.

In order to determine, whether the terms are validly incorporated into the contract and which dispute resolution method is appropriate for Jimmy 's case, it is essential to identify a form of offer and acceptance, the ways the contractual terms have been agreed on, the validity of the incorporation as well as elements of fraud or breach of contract. To elucidate this statement, the structure of this essay will be:

Contracts are an important part of everyday life. They are an essential part of business. As a student of a business law class, I will discuss in this paper several aspects of contracts. This paper will give a definition of a contract and the essential elements necessary to form a valid contract. It will briefly discuss breach of contract and the difference between a material breach and a nonmaterial breach of contract. Examples of legal and equitable remedies available for breach of contracts will be highlighted. Also, legal excuses for nonperformance or other grounds for discharge of contracts will be addressed. Finally, three types of common contracts personally and professionally encountered will be mentioned.

The offer was made with the intention to create a legal contract that protects all sides of the bargain.

The contract is agreement between two parties they find they have some to exchange; the power and commitment between two parties enforcement by the court, The contract have many legal details to be discussed by lawyer or expert. The contract administration, focus on the requirement for the services the company have to get when they sign a contract for new service or to get new products. In field like software consultant it is very complicated and different detailed need to focus on contract to be discussed before to sign any paper. The orientation, communication form and conference can be helpful to create good and detailed contract, all this method help the offeror and offeree to

P1.1 explain the importance of the essential elements required for the formation of a valid contract

Let me begin by assessing the current situation and relationship with Don. Don and I met because of our individual desires to walk with Christ. We developed our friendship that eventually evolved to a business relationship; we are both small business owners. Our business venture started under favorable circumstances consistent with implied duty of faith and fair dealings. According to Kubasek, Brennan, &Browne (2012), an implied contract is formed by conduct of involved parties rather than written or spoken words. That was exactly the case between us. Don would place routine

P2 EXPLAIN THE LAW IN RELATION TO THE FORMATION OF A CONTRACT IN A GIVEN SITUATION

Every contract is based on the concept of agreement. A contract is defined as a legal agreement consisting of exchange of promises which is recognized by law as giving rise to enforceable rights and obligations. The test of agreement is used to ensure whether or not there is a contract between the parties. Whereas the objective test ensures certainty, the same cannot be said about the subjective test of agreement. The objective test of agreement is when the court decides whether there is contract based on the outward appearance of what constitutes the contract. However the subjective test of agreement involves trying to establish whether there was a “meeting of minds” when the contract was made. That is, to try to figure out the mental state of mind of the parties involved during the time the contract was made.

Due to the different roots of the two systems, the definition of a contract, as well as its formation, differ between contract law in Common Law Jurisdictions and in Civil Law Jurisdictions (France). The Common Law views contracts as bargains, exchange, a simple agreement has no binding force. It is mainly concerned with forecasting the impact and the binding legal consequences of a party’s promise. The structure or purpose of the contract is not as important as knowing whether the promise of performance that the contract is based upon is enforceable.

The purpose of a contract is to enforce the agreement that the parties have prepared and to define their privileges and tasks in accordance with that contract. The legislative should implement a legal contract as it is created, unless there are factors that impede its enforcement. It is the purpose for the declaration to advance the improvement of agreements between proficient gatherings for lawful bases .As a universal statute, contracts by able parties, justifiably prepared, are compelling and enforceable. Persons to an agreement are constrained by the procurements to which they have settled. Various proponents form the configuration of a lawful contract which consists of offer, negotiation, advertisements, checking mistakes, acceptance of offer, competent parties, mental and social capacity, subject matter, content, consideration, legalities, and statute of frauds. In this paper however, we will discuss the concepts of offer, acceptance, legal consideration, capacity, and legality of purpose.

To have a complete understanding of what a contractual agreement entails, it is imperative one knows first what exactly a contract is. A contract is best defined as a written or verbal agreement, usually regarding employment, sales, tenancy, or promises between two or more parties. Because most contracts are legally binding, the breaching of these contracts can result in legal action being taken against the party at fault. “No Magic Words, Or How to Read a Contract” written by Duke University’s Director of Scholarly Communications Kevin Smith, discusses the issues that may arise from contracts, as well as the importance of appropriately choosing contracts on a case by case basis. Smith states early that contracts are “private law arrangements intended to do specific things that the parties to the contract have decided on through clear language” (Smith, 2012, Para. 2).

Contracts are used in many different forms and for just as many different situations within our everyday lives. Some contracts are more involved than others and for some; contracts are an essential of their success. As we continue, we will take a look at different types of contracts with the main focus on enforceable contracts. With so many elements that are incorporated into any contract, the six essential elements of enforceable contracts will be the main focus of this writing. Having a clearer understanding of the essentials of life will help prepare us for life’s curves that may come our way.

The legal aspect of every contract in business requires critical analysis for every term in accordance to the specifics upon which both parties are involved. The reason for analyzing such terms carefully is because it can become a crucial part in determining the decision making when addressing any business problem. This is generally more important from the perspective of the company management because some situations can result in high intensity and significance for the company. Analyzing the terms of a contract will help avoid any inappropriate or insufficient conclusions when presenting a final resolution in times of a dispute.

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.