StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Main Components of Contract Law - Assignment Example

Cite this document
Summary
The paper "Main Components of Contract Law" discusses that where the consideration of a contract totally fails, the contract with reference to the immediate parties may be avoided, and the same rule enforces as if there never had been any consideration…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.2% of users find it useful
Main Components of Contract Law
Read Text Preview

Extract of sample "Main Components of Contract Law"

Download file to see previous pages

Presumed undue influence is a class of undue influence whereby a relationship of trust and confidence amongst the transferor and transferee evokes a rebuttable precondition that the transfer was due to undue influence.Ward in para 31 of Daniel v Drew2 differentiated the two classes of undue influence as: “In the broadest possible way, the difference between the two classes is that in the case of actual undue influence something has to be done to twist the mind of a donor whereas in cases of presumed undue influence it is more a case of what has not been done namely ensuring that independent advice is available to the donor”Duress is actually a concept in common law whereas undue influence arises in equity.

It can also be said that duress is the result of a specific threat which is made on a particular occasion. But undue influence develops from a progressing relationship. In undue influence, the past between the two parties is as important as the event which surrounds the development of a particular disputed contract (Stone, 2005, Pp.123-126).Yet another difference lies in the position of the benefited parties in the contract. Under duress, it becomes clear that he/she has acted improperly.3 Also in the case of duress, the contract may not result to be disadvantageous to the person who persuaded for such a contract.

On the other hand, in the case of undue influence, the unfair transaction is a prerequisite for a productive plea (Stone, 2005, Pp.123-126)

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Main Components of Contract Law Assignment Example | Topics and Well Written Essays - 5000 words, n.d.)
Main Components of Contract Law Assignment Example | Topics and Well Written Essays - 5000 words. Retrieved from https://studentshare.org/law/1735992-contract-law
(Main Components of Contract Law Assignment Example | Topics and Well Written Essays - 5000 Words)
Main Components of Contract Law Assignment Example | Topics and Well Written Essays - 5000 Words. https://studentshare.org/law/1735992-contract-law.
“Main Components of Contract Law Assignment Example | Topics and Well Written Essays - 5000 Words”, n.d. https://studentshare.org/law/1735992-contract-law.
  • Cited: 0 times

CHECK THESE SAMPLES OF Main Components of Contract Law

Sales of Goods Act of 1979 - Nike

The contract of sale is then made which can either be absolute or conditional.... The conditions not being met may also lead to a reduced price or rescission of the contract.... The rescission of the contract and the payment of the difference are required because of the faulty aspects of the shoes.... This is furthered with the requirements of the contract that become conditional because of this....
10 Pages (2500 words) Essay

Identify Components of a Typical Contract

Acceptance of contract by a party takes place when both parties agree to the contract by way of the statement and in writing (Meiners, Ringleb & Edwards, 2012).... The law also stipulates measures to be taken should any of the parties fail to honor terms of the agreement or perform breach of contract.... All rules relating to how contracts are formed and how every party is supposed to behave are contained in the law of contract (Walston-Dunham, 2012)....
4 Pages (1000 words) Essay

The Concept of Global Sales and Contract Law

Tretel, The Law of contract, 10th edn, p.... For a contract based on offer and acceptance to be binding and enforceable by law, the terms must be capable of determination in the same courts of law in a way that it is clear that the parties assent was given to the same terms of agreement.... They may be written, or sometimes oral, although some kinds of contracts require writing as evidence of the agreement to be enforced in the courts of law....
7 Pages (1750 words) Essay

The Basic Formation of General Principles of Contact

Where there are doubts, however, the law uses a two-fold process of offer and acceptance.... The case of Thomas v Thomas states that "consideration means something which is of some value in the eye of the law, moving from the plaintiff to the defendant.... nbsp; A right-of-action means being able to bring an action in court for any wrongful act or injury consisting in the infringing of a right created other than by contract.... Firstly, an offer intends to make a contract....
7 Pages (1750 words) Essay

Identify components of a typical contract

contract law is set on the principle which states that agreements between individuals must be reserved.... contract law - text, cases and materials.... The company believes that Jud wheeler Identify components of a Typical Contract Introduction A contract refers to an accord that diverse parties enter into freely with the aim of forming a legal obligation.... The observable doubt is that a law court cannot interpret the minds of the parties involved....
2 Pages (500 words) Essay

Voidable Agreements and Unconscionable Contracts

The court maintained its ruling on grounds of unconscionable contract law because the seller had all the bargaining power, thus making the agreement for his own advantage.... contract law: Text, cases and materials.... After appraising all essential components of the case, the court passed a ruling in favor of the seller on the basis that the contract was not voidable.... In proceedings of any case revolving around voidable or unconscionable contracts, a court of law has to check for all the necessary terms that render an agreement voidable prior to making any ruling....
2 Pages (500 words) Assignment

Contract and Negligence in Business

If violated, one party will likely have a claim against the other in a court of law.... Under UK law, it has been largely determined that there are two main areas that constitute an actual binding agreement between two or more parties.... Verbal contracts are more difficult to prove in a court of law.... In essence, agreements for the basis for a binding contract.... Only if all parties agree to be released from a particular clause in the contract, or an agreement is reached to null and void the entire contract, it remains in force....
13 Pages (3250 words) Essay

Contract Law - The Involvement of the Courts in Cases Where There Is a Disagreement Between Both the Parties

This paper "contract law - The Involvement of the Courts in Cases Where There Is a Disagreement Between Both the Parties" focuses on the fact that companies dealing with products and services are required to comply with a number of regulations that are both old and new.... In other cases, the terms could be stated as 'the (company) will not be subject to a liability of more than $50 in the event of a breach of contract'3.... n this context, it is important to discuss the issue of whether there is a requirement to stress the meaning of exemption clauses in standard contracts under the law....
6 Pages (1500 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us