Contarct law essay

Can the Employer make deductions for the liquidated damages from the amount certified by the Employer's Representative in the interim payment certificate, or should the Employer's Representative already make the deductions for the liquidated damages in the interim payment certificate? In order to deduct delay damages the Employer must submit a Claim in accordance with Sub-Clause 2. As required by 2. If the Engineer determines that the Employer is entitled to deduct an amount as delay damages then it can be deducted from Payment Certificates in accordance with the final paragraph of 2.

Contarct law essay

For example, where there is a contract for the sale of a car that both parties assume to exist, although in reality it has been destroyed by Contarct law essay, this contract is non-binding on the parties. By contrast, where the parties are only mistaken about the model of the car, then this contract would be binding.

Another example is when a person signs a written document mistakenly believing that it relates to something entirely different from what in fact it does relate to, in this case the person will not be bound by it.

This means that if X is told to sign a document which X reasonably believes to be something like a character reference to assist Z to obtain a loan from a finance company, and the document is later discovered to have been a guarantee of the loan contract, then the guarantee will not be binding on X.

A third example is when Y cannot read, due to blindness or illiteracy or other disability. Someone else tells Y what is in the document and Y signs it. The document Y signed is not what Y was told it was.

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The document Y signed would not be binding on Y. By contrast, if a person who signs a document believing it to be a contract does not read the terms and conditions that person will be bound by the contract and will not be entitled to plead mistake.

Other factors may also be relevant to a successful plea of mistake. For instance, whether or not the defence of mistake will be allowed often depends on whether an innocent third party will be adversely affected by a decision that the contract is non-binding.

Contarct law essay

Again, if the signer was careless and failed to take reasonable precautions, the defence will not be allowed to succeed. For these reasons, it is wise to seek legal advice about whether or not a court would hold the contract binding on these grounds.

Different consequences flow, depending on the seriousness of the false statement made. False statements might be made where either: The parties come to agree and contract because one of them has been motivated to agree by a statement of fact something said or written that is not true.

Commonly, these types of statements have not actually been included in the contract itself but were an encouragement to enter into the contract.

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False statements affect the question of whether or not a contract exists. Very serious false statements mean a court would view the contract as void see: The consequence is that monetary damages sufficient to place the wronged party back to their original position must be paid.

In other less serious instances, the court will find the contract valid but the wronged party will be entitled to reject the contract or to treat it as at an end.

Here, monetary damages sufficient to place the wronged party in the position they would have been in, had the contract been properly completed, must be paid. Where a false statement has put the wronged party at a disadvantage or caused some loss, but not enough damage has been done to justify ending the contract, then the contract will be valid and the wronged party will be bound to the contract, but entitled to sufficient monetary damages to make up for the loss suffered as a consequence of the false statement.

The two most important factors considered to determine the level of seriousness at which a false statement will be viewed are as follows. If a false statement amounts to a condition of the contract, the wronged party is entitled to rescind see: A court may view the condition so seriously that without it the contract is void; that is, with the false statement taken out of the contract, there is no contract.- Contract Law The law of contract recognises that an agreement is dependent on consent and this, therefore, implies that an agreement obtained by threats or undue persuasion will be insufficient.

Many contracts in practise involve a degree of 'arm twisting' and this raises the question as to what level of pressure is acceptable to exert over another . “A contract is a legally enforceable agreement between two or more people.” (Rogers, ) In the world we live in learning about contract laws is very vital Contract Law: Frustration Question Martina owns two houses in Loughchester.

Contract Law. A contract is a legally binding or valid agreement between two parties. A contract is an agreement which will be enforced be the law.

This Definition is satisfied when the following elements are present: There must be an agreement. Deducting delay damages Question. How does the Employer deduct liquidated damages for delay as there appears to be an anomaly between the Sub-clauses , (f) and Contract law has been more formally defined as a promise or set of promises which the law will enforce.

Another definition and a somewhat competing view, is that a contract is an agreement giving rise to obligations which are enforced or recognized by law. Contract Law Essay Words | 6 Pages.

Contarct law essay

Contract Law 2nd January , Sarah reads in a local newspaper, "The BrightonBugle", that a well known local sports enthusiast, Mick Muscle, was offering £5, to the first person to swim from Southsea to the Isle of Wightbefore 10th January,

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