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Power Of Acceptance
Power of acceptance is a concept of contract law. It refers to the power vested in the offeree by the offeror through the offer being made. It is used to determine whether the acceptance of an offer is valid. Contract formation Generally speaking, a contract is created by an offer and the corresponding acceptance. An offeree exercises the power of acceptance in order to trigger the offeror's obligation of performance with reference to the terms of the offer. Disputes may arise as to whether the power of acceptance is valid at the time the acceptance is made, therefore challenging the very existence of the contract.''Hyde v Wrench'' 840EWHC Ch J90 (bilateral offer), ''Carlill v Carbolic Smoke Ball Co'' 8931 QB 256 (unilateral offer) In the English case ''Gibson v Manchester City Council'', Lord Diplock recognised that the conventional offer and acceptance analysis may not be suitable for every single type of contract, as there may not be any expressive offer and acceptance. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract Law
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of the min ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dickinson V Dodds
''Dickinson v Dodds'' (1876) 2 Ch D 463 is an English contract law case heard by the Court of Appeal, Chancery Division, which held that notification by a third party of an offer's withdrawal is effective just like a withdrawal by the person who made an offer. The significance of this case to many students of contract law is that a promise to keep an offer open (an option) is itself a contract which must have some consideration. Facts On Wednesday 10 June 1874, Mr Dodds delivered Mr Dickinson an offer to sell some houses for £800, an offer open until 9am on Friday 12 June. On Thursday afternoon, another man called Mr Berry told Mr Dickinson that the houses had already been sold to someone called Mr Allan (who was the second defendant). Mr Dickinson found Mr Dodds in the railway carriage at 7am on Friday, leaving Darlington railway station, and gave his acceptance there. But Mr Dodds said it was too late. Mr Dickinson sued for breach of contract. Judgment James LJ held that Mr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Frustration In English Law
Frustration is an English contract law doctrine that acts as a device to set aside contracts where an unforeseen event either renders contractual obligations impossible, or radically changes the party's principal purpose for entering into the contract. Historically, there had been no way of setting aside an impossible contract after formation; it was not until 1863, and the case of '' Taylor v Caldwell'', that the beginnings of the doctrine of frustration were established. Whilst the doctrine has seen expansion from its inception,Koffman, Macdonald, p. 520 it is still narrow in application;Halson, p. 419 Lord Roskill stated that "the doctrine is not lightly to be invoked to relieve contracting parties of the normal consequences of imprudent commercial bargains." Development of the doctrine Early cases such as '' Paradine v Jane'' show the historical line that the courts took toward a frustration of purpose in contract; here, the courts held that where land under lease to the def ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of the mind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consequential Damages
Consequential damages, otherwise known as special damages, are damages that can be proven to have occurred because of the failure of one party to meet a contractual obligation, a breach of contract. From a legal standpoint, an enforceable contract is present when it is: expressed by a valid offer and acceptance, has adequate consideration, mutual assent, capacity, and legality. Consequential damages go beyond the contract itself and into the actions that arise from the failure to fulfill. The type of claim giving rise to the damages, such as whether it is a breach of contract action or tort claim, can affect the rules or calculations associated with a given type of damages. For example, consequential damages are a potential type of expectation damages that arise in contract law. When a contract is breached, the recognized remedy for an owner is recovery of damages that result directly from the breach (also known as "compensatory damages"). Damages may include the cost to repair or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stevenson, Jacques & Co V McLean
''Stevenson, Jaques, & Co v McLean'' 8805 QBD 346 is an English contract law case concerning the rules on communication of acceptance by telegraph. Its approach contrasts to the postal rule. Facts Plaintiffs (P) were iron merchants who purchased iron to sell on to third parties. Defendant (D) was the holder of warrants (titles) for quantities of iron. By telegram (dated Saturday 27 September) D offered to sell iron to P for “40s., nett cash, open till Monday” (the original offer) 48 On Monday morning P sent telegram to D asking whether D would “accept forty for delivery over two months, or if not, longest limit you would allow” 48(P's telegraphic enquiry). D did not respond to the telegram and later that day sold all warrants to another party. D sent a telegram to P at 1.25pm on the Monday advising all warrants had been sold (D's telegram of warrants sold). Prior to receiving that communication, P sent a telegram to D at 1.34pm advising acceptance of offer (P's a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Errington V Wood
is an English contract law and English land law judicial decision of the Court of Appeal concerning agreement and the right to specific performance of an assurance that is relied on. Facts Mr Errington in 1936 bought a house in Milvain Avenue, Newcastle upon Tyne, for his son and daughter in law, paying £250, and the remaining £500 coming from a mortgage, paid off with 15 s a week by the newly weds. Mr Errington promised them they could stay in occupation as long as they paid the mortgage and that when all the instalments were paid it would be theirs. He gave her the building society book and said, ‘Don't part with this book. The house will be your property when the mortgage is paid.’ He died and the son left to move in with his mother. The mother sought possession from the daughter in law. The Judge dismissed the claim for possession. Judgment The three-judge panel in the Court of Appeal unanimously held that the daughter in law did not have to move out of the house, b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Firm Offer
A firm offer is an offer that will remain open for a certain period or until a certain time or occurrence of a certain event, during which it is incapable of being revoked. As a general rule, all offers are revocable at any time prior to acceptance, even those offers that purport to be irrevocable on their face. In the United States, an exception is the merchant firm offer rule set out in Uniform Commercial Code - § 2-205, which states that an offer is firm and irrevocable if it is an offer to buy or sell goods made by a merchant and it is in writing and signed by the offeror. Such an offer is irrevocable even in the absence of consideration. If no time is stated, it is irrevocable for a reasonable time, but in no event may a period of irrevocability exceed three months. Any such term of assurance in a form supplied by the offeree must be separately signed by the offeror. However, even when the period of irrevocability expires, the offer may still remain open until revoked or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Restatement (Second) Of Contracts
The Restatement (Second) of the Law of Contracts is a legal treatise from the second series of the Restatements of the Law, and seeks to inform judges and lawyers about general principles of contract common law. It is one of the best-recognized and frequently cited legal treatisesAcceptable citation format under the Bluebook: "Restatement (Second) of Contracts § ___ (1981)." The Bluebook: A Uniform System of Citation § 12.8.5 (Columbia Law Review Ass'n et al. eds., 17th ed. 2000) in all of American jurisprudence. Every first-year law student in the United States is exposed to it, and it is a frequently cited non-binding authority in all of U.S. common law in the areas of contracts and commercial transactions. It is a work without peer in terms of overall influence and recognition among the bar and bench, with the possible exception of the Restatement of Torts. The American Law Institute began work on the second edition in 1962 and completed it in 1979; the version in use at present ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carlill V Carbolic Smoke Ball Company
''Carlill v Carbolic Smoke Ball Company'' 892EWCA Civ 1is an English contract law decision by the English Court of Appeal">Court of Appeal, which held an advertisement containing certain terms to get a reward constituted a binding unilateral offer that could be accepted by anyone who performed its terms. It is notable for its treatment of contract and of puffery in advertising, for its curious subject matter associated with medical quackery, and how the influential judges (particularly Lindley and Bowen) developed the law in inventive ways. ''Carlill'' is frequently discussed as an introductory contract case, and may often be the first legal case a law student studies in the law of contract. The case concerned a influenza, flu remedy called the "carbolic smoke ball". The manufacturer advertised that buyers who found it did not work would be awarded £100, a considerable amount of money at the time. The company was found to have been bound by its advertisement, which was const ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carlill V Carbolic Smoke Ball Co
''Carlill v Carbolic Smoke Ball Company'' 892EWCA Civ 1is an English contract law decision by the English Court of Appeal">Court of Appeal, which held an advertisement containing certain terms to get a reward constituted a binding unilateral offer that could be accepted by anyone who performed its terms. It is notable for its treatment of contract and of puffery in advertising, for its curious subject matter associated with medical quackery, and how the influential judges (particularly Lindley and Bowen) developed the law in inventive ways. ''Carlill'' is frequently discussed as an introductory contract case, and may often be the first legal case a law student studies in the law of contract. The case concerned a influenza, flu remedy called the "carbolic smoke ball". The manufacturer advertised that buyers who found it did not work would be awarded £100, a considerable amount of money at the time. The company was found to have been bound by its advertisement, which was const ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Second Carbolic Company Advertisement
The second (symbol: s) is the unit of time in the International System of Units (SI), historically defined as of a day – this factor derived from the division of the day first into 24 hours, then to 60 minutes and finally to 60 seconds each (24 × 60 × 60 = 86400). The current and formal definition in the International System of Units ( SI) is more precise:The second ..is defined by taking the fixed numerical value of the caesium frequency, Δ''ν''Cs, the unperturbed ground-state hyperfine transition frequency of the caesium 133 atom, to be when expressed in the unit Hz, which is equal to s−1. This current definition was adopted in 1967 when it became feasible to define the second based on fundamental properties of nature with caesium clocks. Because the speed of Earth's rotation varies and is slowing ever so slightly, a leap second is added at irregular intervals to civil time to keep clocks in sync with Earth's rotation. Uses Analog clocks and watches often have ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
