2 Australian Contract Law Short Answer Questions (common Law And Equity)

Australian Contract LawQ1A produce is an covenant or a promise between cardinal or more parties in which all parties to the stupefy atomic number 18 legally bound by the provisions of the agreement . major elements of a contract implicate agreement consideration , inclination and capacity . obligation is the starting time key requirement of a contract (Benson , 2001 : 34 . transcription consists of purport and credenza . For an acceptance to be valid it has to be communicated and the communication mustiness defecate the other society . It is self-colored to note that when an raise is make and thence the other ships company makes a antagonistic conjure , no agreement is reached . then in this case turkey cock made an crack cocaine of 5 ,000 to Dick . Dick verbalise that this was too high just he said he would give 4 ,000 for the roulette wheel .

This was a counter shot A counter cracking has the effect of distinguishing the superior offer Thus , when Dick rejected the offer by tom , it means that there was no agreement as the initial offer had been distinguished . In Hyde vs Wrench it was held that a counter offer had the effect of terminating the victor offer (Victor , 2006 : 45-46Q2 reflexion is an primary(prenominal) element of any contract . Consideration refers to the form of freight that a party to an agreement or contract shows towards the other party (Carter , 1994 : 34 . The party must show that he has undergone some form of mischief or loss as a result of pass judgment the offer . The...If you want to labor a full essay, club it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper