This website uses cookies to ensure you have the best experience. Learn more

Contract Law Essay

845 words - 4 pages

Contract Law
Knowledge of the basic principles of the law of contract is useful to readers not only for examinations but also in their everyday lives: Most, if not all of us, have entered into contracts at some point of time –we enter into contract when we board a bus, go shopping or go to work.
Contracts are an integral part of our daily lives. They are constantly being entered into by individuals with other individuals or business, as well as businesses with other businesses, to sell or transfer property, to provide and receive service and other rights and obligations created. The sale and purchase of goods is based on sales contracts, the hiring of employees is based on employment ...view middle of the document...

Where the Contract Act makes certain provisions which differ from English law, the provisions of the Contract Act 1950 must prevail (see Song Bok Yoong v Ho Kim Poui).
In applying English Law, the distinction between subsections 5(1) and 5(2) of the Civil Law Act, 1956 must be noted. Under subsection 5(1) of the Civil Law Act, when English Law is applied to resolve any dispute arising in Peninsular Malaysia other than to the states of Malacca and Penang, “the law to be administered shall be the same as would be administered in England in the like case” at the date of coming into force of the Civil Law Act, 1956, i.e. on 7 April 1956. On the other hand, if the same matter were to arise in the states of Malacca, Penang, Sabah or Sarawak, “the law to be administered shall be the same would administered in England in the like case at the corresponding period, if such question or issue had arisen or had to be decided in England.”
In other words, any development in the English law after 7 April 1956 would not be binding on the courts of the states of Peninsular Malaysia (Penang and Malacca excluded) whereas such changes would apply in the states of Penang, Malacca, Sabah and Sarawak, such developments, however, would be of persuasive authority.

PHARMACEUTICAL SOCIETY OF GREAT BRITAIN v BOOTS CASH CHEMIST LTD [1953] 1 QB 401
Facts: The...

Other Essays Like Contract Law

Mock Exam Contract Law Essay

3342 words - 14 pages that the lamps had been turned over to S. B immediately contacted X and told him that "We have no deal, and I want my lamps back right now." Claiming that he had a contract with B, S refused to return the lamps. 1 B then brought an appropriate action to obtain the lamps or their market value from S. S raised the affirmative defense that a contract existed between B and S for a price of $18.00 per lamp. B denied this affirmative defense. How

Unconscionable Conduct in Contract Law Essay

758 words - 4 pages Unconscionable conduct is any action not taken in good conscience and in the context of contract law the basis of unconscionable conduct refers to one party taking advantage over another. Unconscionable conduct in contractual negotiations results in one out of the six prerequisites being invalid for a legal and binding contract. There are legislations with provisions for unconscionability and courts can place orders for those who engage in

Business Law On Luxury Goods - Contract Void Or Valid?

864 words - 4 pages Question 1: (a)(i) Last January Phing, the daughter of a wealthy businessman, bought a luxury car, Audi R8, worth RM 900,000. The car has now been delivered but she is unable to pay for it. Discuss. First of all, the Law of Contract has been defined as an agreement which is legally binding between the both of parties. A contract simply means an agreement between the parties however the agreement has some important element within as it

The Law of Contract Confines Itself to the Enforcement of Voluntarily Created Civil Obligations

2096 words - 9 pages North South University LAW 200 (Business Law) Assignment 1 Submitted To: Barrister Arife Billah Lecturer, School of Business Date: 22 February, 2013 Submitted By: Arnab Paul ID: 1030818030 Section: 9 Title: The Law of Contract confines itself to the enforcement of voluntarily created civil obligations Abstract This assignment focuses to determine the relationship between the Law of Contract and voluntarily created civil obligations. It is

Business Law and Ethics

2791 words - 12 pages the contract is considered valid. We can say that this contract is unilateral, expressed, informal, executory and valid. From our knowledge of contract law, we can say that senior owe to junior $5,000 because he respected the term of the contract by stopping smoking for one year. Technically, most types of contracts don't have to be written to be enforceable. An example is purchasing an item in a store. You pay money in exchange for an item

Elements of a Contract

1546 words - 7 pages Elements of a Contract BUS 670 August 25, 2015 Elements of a Contract Introduction A contract is a legal agreement between two entities that creates obligations by both parties that are enforceable by law. As Verkerke (2015) notes, individuals are often ill-informed of the legality of most common dealings in their lives. With a common ignorance of legal matters, it is essential that contracts contain the required elements to be legally

Business Contracts

1143 words - 5 pages must understand that the agreement can be enforced by law (Small Business, 2010). Goodchild, Herring and Milosevic (n.d.) stated “a contract cannot be enforce unless the actions agreed upon are legal in the jurisdiction where the contract is made.” Also in this section is where the competent parties section which ensures that the parties entering the agreement are legally eligible to enter into the contractual agreement (Financial Web, n.d

Law 531 Week 3

1232 words - 5 pages Memo Recognizing Risk LAW/531 17 January 2010 Memo To: Span Systems Management From: VP Contracts Date: April 12, 2010 Subject: Recognizing Contract Risk and Opportunities Management Team: This Memo is written to Span Systems management as a result of the contract and contract negotiations with Citizen-Schwartz AG. Citizen Schwartz’s management believes that there has been a slip in the contracted schedule and resulted in poor

Business Low

2110 words - 9 pages it is conceptualized in law. It is the chronological moment that minors cease to legally be considered children and terminating the legal control and legal responsibilities of their guardian. Nowadays, most of countries such as America and China set majority of 18 years old. Attain 18 years old means that they are legally to enter a contract, but in the other hand, they still subject to age-based restrictions regarding matters like voting right

Employee Contracts

1153 words - 5 pages has to be “legal”. The “Essential element of an agreement in contract law whereby an agreement is legal and enforceable only if it complies with the law of the land and public policy. Any agreement entered into for an illegal purpose is not legally binding (Business Dictionary, 2013).” Employee contracts are governed by common law. Common Law and UCC are laws that pertain to the United States of America. The UCC was put in place to bring

Business Laws

3607 words - 15 pages CONTRACT NOTES NATURE OF A CONTRACT The very basic definition of a contract can be: A contract is a written or spoken agreement intended to be enforceable by law. It consists of 2 main parts: 1) Agreement 2) Its enforceability by Law 1) Agreement: Agreement = offer + acceptance In other words it is an accepted proposal 2) Enforceability by Law: An agreement to become a contract, it must give

Related Papers

Contract Law Essay

2089 words - 9 pages the end of this coursework, students should have been able to demonstrate: • An understanding of the formalities of the law of contract, particularly the principles governing the offer and the acceptance, • An understanding of the legal rules in respect of forming a legally binding agreement • The ability to apply the principles and rules of the law of contract in an accurate and cohesive manner

Law Contract Law Assignment

1111 words - 5 pages accept the offer. Similarly there should be a meeting of the minds. Other requirements of a valid contract our consideration and the capacity to enter into the contract. It needs to be noted that the law of contract provides that the party making the offer can revoke the same at any time before the other party has accepted the offer (Peel, 2007). At the same time, it is also required that the offer should be accepted unequivocally by the party

Business Law Contract Paper

1155 words - 5 pages CONTRACT REVIEW ASSIGNMENT Instructor: Barb Eccles Business Law 3051-FA Matthias Majerczyk Due Date: Tuesday, November-27-2012 BigCo Agreement for Exchange of Confidential Information 2) Most people who have positions in a corporation are employees under the legal entity. So, therefore Really Smart Guy is the Vice-President and an employee of BigCo Limited. BigCo can use confidential draft patent application and some confidential

Chinese Contract Law Essay

1068 words - 5 pages of the contracts was based on JY’s incomplete genuine declarations of intention. SDR used its advantageous position to apply the standard contract in which the non-compete clause was too onerous and led to unequal rights and obligations between both parties. Furthermore, it was in violation of the principle of fairness. 2. According to the relevant provisions on the standard terms in Contract Law, the non-compete clause which increased JY's