Commercial Law Essay

673 words - 3 pages

1a. The issue is to determine if the essentials of a contract have contributed to a binding contract between Leila and Julie.

In order to enforce a contract, four elements must be present and they are offer, acceptance, consideration and an intention to create legal relations.
According to Preston Corporation Sdn Bhd v Edward Leong (1982), an offer was defined as: “An offer is an intimation of willingness by an offeror to enter into a legally binding contract. In terms either … to be binding on the offeror as soon as it has been accepted by the offeree.” An offer made to a large group of persons or the world at large can be claimed by the person who satisfy the requirements of the offer. This principle is supported in Carlill v Carbolic Smoke Ball Co (1893).
Acceptance has a few principles to abide when it is being made while the offer is still in force and that is when an agreement comes into ...view middle of the document...

An acceptance must be communicated, meaning it must be received by the offeror in whichever way the offeror specifies the mode of communication of acceptance to be. Any other form of acceptance would render the acceptance invalid as supported by Entores Ltd v Miles Far East Corp. (1955).
However, there are three exceptions whereby acceptance need not be communicated to or received by the offeror. There are waiver of communication, silence and The Postal Rule. In reference to the Carlill v Carbolic Smoke Ball Co (1893) case, an acceptance can be made if the offer was made to a large group of persons or in this case, the world at large.

For the case between Leila and Julie, there are both offer and acceptance present for a binding contract to be enforced between them.
By placing an advertisement in the local newspaper, Leila had made an offer to the world at large, with reference to the case of Carlill v Carbolic Smoke Ball Co (1893), and that anyone who found her gold chain and locket which in this case, Julie, would be able to claim the reward. Leila’s argument whereby Julie should have telephoned first is invalid because there was no required form of acceptance mentioned in the advertisement made and as such, Julie need not telephone Leila prior to the claiming of the reward. This is further supported by the wavier of communication as shown in the case of Carlill v Carbolic Smoke Ball Co (1893).

In conclusion, there is a binding contract between Leila and Julie and Julie would be able to claim her reward from Leila for finding the gold locket and chain.

1b. Yes, my answer would be different if Julie had not read the advertisement and was told about the reward by April after she had found and returned the locket and chain. This is because Julie willing returned the locket and chain and not because of the promise of a reward. Thus, if she were to go and claim the reward after April, it would be deemed as past consideration and that past consideration is not a valid consideration. With it being an invalid consideration, the elements of a contract would not be met. This is further supported in the case of Roscoria v Thomas (1842).

Other Essays Like Commercial Law

Regulation Essay

668 words - 3 pages maybe it wasn’t Son’s ability to pay, resulting in why he couldn’t fulfill his end of the contract. Does this mean he broke the contract, if he did state the repayment would be based off his ability? To determine where this case would go to court, it is best to understand what each source of law there is. Common Law and Uniform Commercial Code are two sources of contract law available to Kim and Son. Uniform Commercial Code or UCC is set in

Social Deviance Essay

1295 words - 6 pages Advertisers use emotions as a tactic to get the general public to react to a certain way. Fear is one of the emotions that receive a high reaction from audience. Fear is used in political in advertising, public health advertising, and commercial advertising causing viewers to take precaution and do what advertisers want them to do. Political ads use fear to perceive a candidate or party as corrupt or incompetent, by dismantling one party it

Sources of International Trade Law

1944 words - 8 pages binding characters. This paper attempts to demonstrate that there are more than one alternative of rules applying to international trade transactions that bind parties of international commercial transactions. The first alternative is the application of parts of the municipal contract law for governing international trade transactions where there is the absence of a separate body of rules. According to Berman[1], the

Teens Must Be Educated About The Consequences Of Drinking

608 words - 3 pages . I could hand them out almost anywhere, such as the mall, a sporting event, at school, etc. the more that agree with my opinion the better the chances are of passing the law. And even if it doesn’t get passed it would at least get people thinking about it and maybe parents can inform their children about it before they get in a situation that is encouraging them to drink. There was recently a commercial on TV about a girl that got hit by a

Commercial vices - gambling, prostitution, and drugs

636 words - 3 pages Commercial VicesThe commercial vices are gambling, prostitution, and drugs. Theappeals of the commercial vices are so strong and widespread thatattempts to prohibit them in western countries have always failed.The evils of these vices are threefold: Those who practicethem suffer, the criminals who sell them prosper, and the enforcementorganizations are expensive, unsuccessful, and often corrupt.Two commercial vices have been accepted as

Business Law Study Guide

1123 words - 5 pages : Adoption of English Common Law in America • International Law: The Civil Law System o Sources of Law in the United States • Ch. 2: Court Systems and Jurisdiction o Introduction to Court Systems and Jurisdiction o State, District of Columbia, and Territory Court Systems • Contemporary Environment: Specialized Courts Hear Commercial Disputes o Federal Court System o United States Supreme Court

Global Business

1316 words - 6 pages local representative or sponsor, typically a government agency or a person well connected to the royal family. Should a commercial dispute arise between a foreign businessperson and the local representative, the local representative can have the foreigner detained by the local police. Because no independent judiciary exists in the country to protect the foreigner’s rights, the foreigner is in a weak bargaining position. Bureaucratic Law The

Business Law Ch 1 Solutions 12e

2172 words - 9 pages doctrine of stare decisis is passé. There is certainly less common law governing, say, environmental law than there was 100 years ago. Given that federal and state governments increasingly are regulating more aspects of commercial transactions between merchants and consumers, perhaps the courts should simply stick to statutory language when disputes arise. Answers to Questions and Case Problems AT THE END OF THE CHAPTER 1-1A. Sources of

Oligopoly

2049 words - 9 pages ...................................... .. 15.00 Aspects of Commercial Law - 1971 .................................................................. .. 15.00 Aspects of Philippine Labor Relations Law - 1973 ........................................... . 17.00 . Aspects of Philippine Labor R~lations Law --=-1972 ...... .................................... .. 18.00 Bar Review Guide in Political Law ....................................................................... . 10.00 . 5.00 Casebook

Application of International Law

1166 words - 5 pages Application of International Law By Dawn M. Engel Argosy University Business Law and Corporate Ethics Dan Adams May 28, 2014 In the United States, Calvin Coolidge signed the Federal Arbitration Act (FAA) into law in 1925, to be effective on January 1, 1926. (Wikipedia, 2014). “International commercial arbitration in Russia is governed by another statute: Law No. 5338-1 . . . It follows the UNCITRAL Model Law almost verbatim.” (Nikiforov

Employment Law Compliance Plan

1315 words - 6 pages regards to employment topics covered under the FLSA such minimum wage and overtime, that the HR Directors at Clapton Commercial Construction would have to adjust to with an expansion to Arizona. Minimum Wage Law In 2007 President Bush signed legislations increasing the federal minimum wage, which is currently $7.25, in states where the state minimum wage mandates a higher rate of pay the company must pay that the state rate. Michigan Minimum

Related Papers

Commercial Law Essay

2717 words - 11 pages ASSIGNMENT ON COMMERCIAL LAW ASSIGNMENT ON COMMERCIAL LAW CHAPTER-1&2 CHAPTER-1&2 12.What are the effects of the memorandum and the article after they are registered THE LEGAL EFFECTS OF THE MEMORANDUM The Contractual Powers of a Company A Company or a Corporation is an artificial person created by law. It is a legal person capable of suing

Commercial Law And Practice Essay

5013 words - 21 pages circumstances[10]. To show breaches of Article 101, it is required to satisfy all three elements of this Article. Agreement between undertakings: There must be an agreement between undertakings for Article 101 to be applied. The word ‘Undertaking’ is interpreted broadly and both legal and natural persons doing commercial activity is included[11]. ‘Agreement’ under this law amounts to ‘an expression of jointly intending to conduct in the market

Bus 378 International Commercial Law And International Business Transactions

2903 words - 12 pages International Commercial Law and International Business Transactions Bristan Keller BUS 378 International Business Law Ashford University Instructor Jumper May 5, 2014 International Commercial Law and International Business Transactions In recent years, various conflicts of law have been identified regarding commercial law and international business transactions. In most cases, there are procedures to follow when a conflict of law

Legal Work Prelim Term 1 (Not Complete)

978 words - 4 pages playground and student fatality occurs, School will be held responsible. (Nuisance) 1. Example = Man mows lawn at 2 am in the morning.) Private or public nuisance. a. Private b. Public (Streakers) Defamation Meaning: the action of damaging the good reputation of someone. Slander or libel. Property law- Wider Areas of law dealing with things owned and that of commercial value. * * * Landmark case concerning the torn of negligence (Falling a duty of care) *The court decided that the manufacturer has a legal duty to the consumer. Half Page summary of case page (64)