Contract Law As the basis of Business Law Essay

Contract Law As the basis of Business Law - Essay Example law has made exceptions in the acceptance of an offer. Acceptance is the words, writing or conduct of the offeree that signifies consent to the agreement proposed by the offeror. When we view The Sale of Goods Act 1979 Part II S4-How a Contract is Made- and s (1), the statute states the spectrum of contract formulation. Additionally, we find the principle of acceptance by conduct when we view Brogden v. Metropolitan Railway Co. [1877] 2 App Cas 666. Adam and Mark entered into a simple contract, which can be oral, written or both. Simple contracts can be held valid in court. Particularly in a business transaction; the court makes the presumption that the parties did have the intent to become legally bound. Of course the presumption can be disputed by either party, however the disputed party must proved to the court that his intent was not to be legally bound. Failure to convince the court, the court will then decide the case by means of the relevant Presumption. I would advise Adam that he has in fact created a binding contract with Mark. We find auxiliary conversations in Rose v. Crompton Bros. (1925). concerning the talk of not having a written and signed contract was of itself a recognizable legally bindingagreement. The court concluded that contracts had been created, and the defendant in3 failing to execute them, were in breach of contract.... From this research, it is clear components 1-4 were inherent of the agreement and points 5-6 of the component list were not evident. Moreover, there was a legitimate offer made by Adam to Mark, to which they subsequently agreed verbally on price and terms of the contract. Albeit the communication of offer and acceptance were made verbally on the phone; the law has made exceptions in the acceptance of an offer. Acceptance is the words, writing or conduct of the offeree that signifies consent to the agreement proposed by the offeror. When we view The Sale of Goods Act 1979 Part II S4-How a Contract is Made- and s (1), the statute states the spectrum of contract formulation. Adam and Mark entered into a simple contract, which can be oral, written or both. Simple contracts can be held valid in court. Particularly in a business transaction; the court makes the presumption that the parties did have the intent to become legally bound. In conclusion, of course, the presumption can be dispute d by either party, however, the disputed party must prove to the court that his intent was not to be legally bound. Failure to convince the court, the court will then decide the case by means of the relevant Presumption. In S (4) s (a) of the Unfair Contract Terms Act of 1977 states that only to business liability, that is liability for breach of obligations of duties arising from things done or to be done by a person in the course of a business (whether his own business or another’s).