THE AGREEMENT

An agreement means a consensus on at least those essential terms needed for a workable transaction. The process of reaching an agreement is generally analysed as involving an offer and acceptance. Where the offer is a clear indication of the terms upon which a person is prepared to be bound, and an acceptance is assenting to, agreeing, or

A request or invitation to negotiate is an offer. False, an offer is a promise to do or refrain from doing something

An acceptance of an offer is “ a manifestation of assent to the terms thereof made by the offeree in a manner invited or required by the offer.

Throughout the Progressive Era, Theodore Roosevelt struggled with immigration regulation and foreign relations. As Anti-Japanese feelings erupted across the West Coast, Roosevelt had to take action in order to maintain good relations with the Japanese both internationally and domestically. Pressured by the Japanese immigrants’ response to the unfair transition to segregated schools, Roosevelt created the Gentlemen’s Agreement in hopes to sustain a sound relationship with Japan and maintain the United States’ moral and diplomatic stature.

A contract is an agreement between and offeror, and an offeree, that can be enforceable by a court of law or equity (Cheeseman, 2010). A contract consists of the following elements; agreement, consideration, contractual capacity, and lawful object. Understanding each of these elements is of the utmost importance to ensure that each party involved has a good understanding of what is expected from one another.

Danny Davidson sold a single family home to Paul and Priscilla Peterson. A long-term relationship between Danny and Paul is the basis for not including a written agreement. The simple contract was made orally and only included the legal object and the amount to be paid. Danny did not disclose a dispute with his neighbor over boundary lines or include information about a soil subsidence in the front yard he claims not to have known about.

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,

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

‘Acceptance is a definite and unqualified assent to an offer, on all of its terms. Any acceptance given conditionally will not result in a legally binding agreement.’

1. Jerry sent a letter containing an offer to sell his mountain bike to Bill for $300.  This letter was sent on Oct. 1 and it was received on Oct. 4.  On Oct. 5 Bill sent a letter to Jerry accepting the offer.  But then Bill changed his mind; on Oct 6 Bill sent a message by personal messenger to Jerry, rejecting Jerry’s offer.  The messenger delivered the rejection and it was received by Jerry on Oct. 7.  The letter containing Bill’s acceptance was received on Oct. 8.  Based on the above, has a contract been formed for the sale of the mountain bike?

An offer is defined as: The manifestation of willingness to enter into a bargain, so made to justify another person in understanding that his assent to that bargain is invited and will conclude it (pg. 493). The parties to an agreement are, the offeror and the offeree. The offeror is the party making the offer, and the offeree is the party receiving the offer to enter into an offer. Basically, the offeror promises the offeree

__F___ Wendy offers to pay Jose $1,000 if he agrees to promise to paint her house this month. If Jose accepts the offer, it will create a unilateral, executed contract.

Wilbert Heikkila listed eight parcels of property for sale and David McLaughlin was interested in purchasing three of them. Mr. Heikkila proposed a counter offer and then withdrew his offer to sell, was a contract ever reached? To conclude on this issue, we have to look at whether there was ever a “meeting of the minds” regarding this transaction. Mr. McLaughlin made an offer to purchase three of the parcels, however when Mr. Heikkila received the offer, he countered and resubmitted to Mr. McLaughlin. At that point, a counter offer rejects the original and becomes the current offer for consideration. Until the two parties come to an agreement on the terms, there is no contract, stated or implied. Mr. Heikkila also has no obligation to

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:

Contractual agreement has always been viewed in terms of offer and acceptance. The universal principle to contract law has always been parties may get into an agreement in whichever way they deem fit and they are subject to certain terms as they choose. As far as legal requirements vital to their formation are binding contracts may be formed. Moreover a binding agreement may be manifested in terms of writing or in verbal form.