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Contract Law
Law covering the establishment, administration of contracts (legally enforceable agreements), the rights and obligations of those entering into contracts, the validity of contracts and disputes over contracts.
2,211 Questions
How can an infant be involved in a valid and binding contract?
The term young person is used here to refer to anyone under the age of 18 years (s.3 Age of Majority Act 1977 (Vic) and s3 age of Majority Act 1973 (Tas) ). Sometimes legal writing refers to minors or infant.
The exact capacity of young people to bind themselves and be bound by contract is limited but also unclear, because no Act of Parliament completely covers this area of law. The Supreme Court Act 1986 (Vic) in sections 49 to 51, "Contracts of Minors", is the most useful reference on this question.
Binding contracts and young people
Contracts for the supply of "necessaries" will generally be binding. There are no hard and fast rules to identify what is "a necessary", but it does include the sorts of things the young person needs to live a reasonable lifestyle. It includes basics such as:
food;
clothing;
a place to live;
medicine,
and so on.
It will also include any contracts relating to the young person's education, apprenticeship or something very similar, if it can be shown to be of benefit to the young person. While a court has not yet considered the issue specifically, mobile phones are probably not necessaries.
The young person contracting in this situation will be held bound to pay a reasonable price (although that may not be the contract price) for necessaries actually sold and delivered. ("Delivery" is a technical term. Generally, delivery takes place when the seller has given the buyer the power to take the goods away.) Where necessaries have been sold but there has been no delivery, the young person does not have to take delivery or pay for the goods.
Non-binding contracts and young people (Supreme Court Act 1986 (Vic) s49 and s50)
Two classes of contracts are not binding on a young person, namely:
contracts which are not for necessaries; and
contracts for the repayment of money lent or to be lent (that is, any form of credit contract).
Where a young person has already paid money under a non-binding contract, that money will not be recoverable unless no benefit has been received by the young person. The young person can, however, refuse to make any further payments under the contract. It is not certain who then owns goods that are not necessaries. It appears that they become the property of the young person unless the young person has fraudulently misrepresented their age.
Even after turning 18, a person cannot confirm a prior contract and then become bound by it. Any money paid by a young person under such circumstances may be recovered.
Unless you violate the contract they cannot take your car.Read your contract very carefully or bring it to an attorney.
Metals, like most solids will contract when cooled. When cooled the atoms or molecules slow down, vibrating less often, causing a smaller average separation between them.
What does acceptance by conduct mean?
Acceptance by conduct means entering into an agreement by performing certain actions rather than by signing an agreement or orally agreeing to be bound.
For example, if you park your car in a parking lot, and put coins in the meter, you would be accepting an offer by the car park operator to park your car there for the posted fee, and subject to any terms and conditions posted (usually beside the meter).
Why would cooling the gas in an air balloon make the balloon contract?
== == According to Charles's Law, "At constant pressure, the volume of a given mass of an ideal gas increases or decreases by the same factor as its temperature (in Kelvin) increases or decreases."
Therefore, if the temperature of the gas is decreased, the volume of the gas will decrease proportionally, and the balloon will contract.
First make sure that you are 100% ready to settle with your contractor. Make sure he completed EVERYTHING that was supposed to be done. Go through your contract line by line before settling with the contractor. Once you make your final payment you have next to no recourse in some states. Now once you have decided that you are happy with the contractors work and have any corrections that they are going to do down in writing and signed by you and the contractor set up your meeting to pay your debt. The contractor should have a release of lien form. When he signs this if is stating that he has been paid in full and holds no interest in your home.
Should court enforce all contracts?
There are Essential elements for valid contract, contract can be either by writing or orally. Literal and Unilateral contract are both enforceable
contract under mistake example at common law are likely to be declare
null and void, but equity may apply flexible measures like specific performance,
injunction, rectification etc.
Contract with a minor is valid and may enforce if its necessary for their
necessity.
Contract for illegal activities are non enforceable.
Is the standard of good faith only read into contracts that provide expressly for it?
A good rule of thumb to follow when agreeing to a contract is that whatever is in the actual contract is what you are agreeing to.
How do Pay Loan companies charge over 500 percent interest legally and why don't usury laws apply?
Usury laws don't typically apply to payday lenders because the state specifically regulates payday loans. Since usury laws are at the state level, the payday lending laws override the state usury laws.
Most payday lenders charge what is known as an application or origination fee when issuing a loan and the term is clearly defined. For most states, the regulations provide for between $7 and $25 per $100 in principal (borrowed).
The average payday loan lasts for about three weeks, so we will use 21 days (of 365 actual days) as the basis for annualization.
At $7 (7% of principal), the annualized interest rate would be approximately 122% (simple interest method).
At $25 (25% of principal), the annualized interest rate would be approximately 435% (simple interest method).
So, "good" payday loan companies (read: those that are licensed) do not charge APRs of 500%.
When a person rolls over a loan, the contracts are set up so that the "extension" is actually a new loan, allowing the payday loan company to charge another application/origination fee (these are labeled renewal origination fees). In this circumstance, the annualized APRs are the same.
Yes, Lahore University of Management Sciences (LUMS) offers a program in Psychology. The university provides a Bachelor of Science in Psychology, which covers various aspects of the field, including cognitive, developmental, and social psychology. Additionally, LUMS may offer graduate programs and courses related to psychology as part of its broader social sciences curriculum.
Pretty much the same principle, but the amounts are quite different. And there is the idea of illegality that usually makes bribes done in secret.
You can, but it would be professional and courteous to let the first buyer know you're considering a higher bid and that he should get a contract to you right away. Because you made a verbal agreement, it would be the classsy thing to do to go with the first buyer. A contract for land may not be binding until there is some writing providing evidence of agreement on the important terms. However, it is the nature of contracts that they can be "broken" if there is sufficient advantage to doing so. As long as the new opportunity will cover any damages, then it makes economic sense to go for the higher offer. Of course, if you value your reputation, it must be done fairly and openly with the other bidders. Similarly, claiming to have a higher offer (when you don't) will risk the entire deal AND your reputation.
A contract (either written or verbal) has THREE requirements to be valid.
1) An offer
2) An acceptance of the offer
3) A payment, or other thing of value, actually changing hands validating the agreement.
What the contract is personal in nature?
A contract is considered personal in nature when its obligations are inherently tied to the individual characteristics, skills, or attributes of the parties involved. This means that the performance of the contract relies on the unique qualities of a specific person, making it non-transferable to others without consent. Examples include contracts for artistic performances or personal services, where the identity and capabilities of the individual are crucial to the agreement.
Where can you get a copy of your prenutual agreement?
If you have lost your copy you can ask your attorney, your spouse's attorney or your spouse for a copy.
If you have lost your copy you can ask your attorney, your spouse's attorney or your spouse for a copy.
If you have lost your copy you can ask your attorney, your spouse's attorney or your spouse for a copy.
If you have lost your copy you can ask your attorney, your spouse's attorney or your spouse for a copy.
What is unlawful consideration in contracts?
Section 23
The consideration or object of an agreement is lawful, unless- it is forbidden by law 1[ ; or is of such a nature that, if permitted, it would defeat the provisions of any law; or is fraudulent; or involves or implies injury to the person or property of another or; the Court regards it as immoral, or opposed to public policy. In each of these cases, the consideration or object of an agreement is said to be unlawful. Every agreement of which the object or consideration is unlawful is void.
Can we discuss the main differences between partnership and a company?
a partnership can have a minimum number of two partnesrs or the maximum twenty five. and the company more than 20.
Who can demand performance of a contract?
Promisee
The promisee is the person receiving the promise from the promisor or An individual to whom a promise is made.
Legal Representative
In its broadest sense, one who stands in place of, and represents the interests of, another. A person who oversees the legal affairs of another person. Examples include the executor or administrator of an estate and a court appointed guardian of a minor or incompetent person
Third Party
A third party beneficiary, in the law of contracts, is a person who may have the right to sue on a contract, despite not having originally been a party to the contract. This right arises where the third party is the intended beneficiary of the contract, as opposed to an incidental beneficiary. It vests when the third party relies on or assents to the relationship, and gives the third party the right to sue either the promisor or the promisee of the contract, depending on the circumstances under which the relationship was created
this is copied off the internet i am NT to be given credit
False
Why can the offeror break his or her promise to keep the offer open for a stated time?
In general, if you have given some form of payment in order to keep the offer open, then it is binding. Otherwise, it is not. Of course there may be facts that could change this, depending on all the circumstances.
This may vary from country to country. If you are in Australia, Canada, England or New Zealand then this is most likely the law. USA I am less sure of.
Added: (in the US) the same GENERAL principle applies as spelled out above. Unless the 'promise' was spelled out in writing either seperately or in the contract wording itself, and is only a verbal promise - unless it can be proven that something tangible was offered and accepted in return for the promise, it MAY not be enforceable. HOWEVER - EVERY situation is slightly different from every other one. This is exactly why the civil courts are available - to determine answers to questions such as this.
