Should The Contract Be Allowed?

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.

The benefits of working for this company include medical, dental, life and vision insurance. 401K saving plans are matched at a rate of 100% for up to 4% of your pay. The benefits package also includes competitive wages, paid time off, 8 observed holidays, tuition reimbursement for job enhancing courses, social activities, and free confidential counseling.

A contract is formed when an offer by one party is accepted by the other party. Consideration is the price paid for the promise of the other party. The price must be something of value, although it need not be money. Consideration may be some right, interest or benefit going to one party or some, losses or responsibility given, suffered or undertaken by the other party.

Adhesion contracts are necessary in cases where a service provider has a decisive bargaining advantage on an essential service. A purely recreational activity that has multiple other providers does not create a bargaining advantage or a need for an adhesion contract.

A contract is a promise between two or more parties that the law recognizes as binding by providing a remedy in the event of breach. In order for a promise to be enforceable it must be supported by consideration. Consideration can be defined as a bargained for exchange between the promisor and promisee; a promise can not be considered a contract without consideration. Common law states also require mutual assent to exist for a contract to be enforceable, this means that there must be an offer and an acceptance of said offer. For example, if a promise is made between two consenting people and one of those

1. NON-COMPETE COVENANT. During employment and for a period of 2 years after initial day of employment at Saving American Hearts LLC, and after the separation of employment for any reason,____________________ will not directly or indirectly engage in any buisness with the following competitor(s):

However, the following are the vital steps contained in each contract. Also, without them the contract would not be considered valid. First, an offer entails a statement by one party who is willing to make a contract under certain conditions keeping in mind that it shall be accepted. Second, acceptance gives a picture of the agreement to the terms offered. According to Rogers (2012), acceptance is considered valid when, (1) it is made by an individual to whom the offer was directed, (2) it is unequivocal, and (3) it is communicated to the offeror. Third, consideration encompasses the terms of the contracts between the parties. Therefore,

Mutual assent and consideration go together so this paper will argue against them together. Mutual assent is the idea that all the parties in a contract know what they are contracting to and agree to it. As defined in Charles S. Knapp, Nathan M. Crystal, and Harry G. Prince’s Problems in

Consideration is a promise or performance that the promisor demands as the price of the promise. Past consideration is something that has been performed in the past and which, therefore, cannot be consideration for a promise made in the present. Promises made to another based on moral obligation lack consideration and are not enforceable. Services performed by one family member on behalf of another family member are presumed to have been rendered in obedience to a moral obligation without expectation of consideration. An example of past and moral consideration would be the hypothetical we are discussing. A binding contract does not exist between Gerwin and Baker because the element of consideration is missing. The consideration for Gerwin's

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

For a contract to be valid there must also be consideration. Consideration means a detriment to the person who made the promise or a benefit conferred on the other party, both of which are measurable in economic terms. Services, money, and goods are the examples of consideration. A promise of a gift is not enforceable in law because of the absence of mutual exchange of consideration. An exception to this rule is when a contract is executed in a specific form called a "deed", in which case consideration is not required to be given to the other party.

Non-compete agreements are employment contracts between an employer and their employee which places restrictions on the kinds of jobs the employee may take after leaving the company, usually for a set amount of time and in a certain geographical area. Employers generally ask employees to sign these non-disclosure agreements to protect the company’s trade secrets, however, detecting these violations can be extremely difficult and it’s easier to determine if the person has begun working for a rival company. These agreements cannot be required by an employer, but the employer may choose to terminate the employee’s contract or decide not to hire the person based upon refusal to sign (Marx, Singh, and Fleming 395).

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

Firstly, capacity means that a citizen is legally able to enter into a contract. There are several standards that make sure a person is legally able to do so including age and state of mind. (Baumeyer, 2014). People who have full contractual ability can enter into a binding contract and then they are legally bound to perform their obligations under the contract. Besides, they are liable to be sued for a breach of any contractual duty. (Ling, 2010). Thus, the citizens who lack the full contractual capacity to access a contract that can make a contract voidable. A voidable contract is still valid, but the person who lacks the full capacity to enter into a contract can either terminate the contract or perform the contract as promised. This principle is for protecting the party who lacks the full capacity from being compelled to fulfill the contract obligations that are used for taking advantage of their lacking of contractual ability. (Stim, 2014). Generally, a contract made by people under contractual disability would be considered revocable. (Seddon and Davis, 2012). In most laws,there are basically only three types of people who are placed into a special category would make a contract voidable and those are minors, mentally incapacitated and people who are intoxicated with alcohol or drugs. Mainly with the example of Australian laws, it can be argued by this essay that although a lot of improvements have been achieved by governments for perfecting the legal system, but

An issue with this agreement is what consideration has been provided for this bargain . Consideration need not be adequate but must be of value in the eyes of the law . Treating Mr Smith with respect and care (clause 3) and agreeing to make their best effort to keep to the schedule (clause 4) may be sufficient consideration.