A contract only exists when the following basic elements exist:
1.Proposal (offer)
divide 2(a) of the contain pretend 1950 states that when a somebody signifies to another his willingness to do or to stop from doing anything, with a overhear to obtaining the assent of that other to the act or abstinence, he is say to make a design.
2.Acceptance
According to Section 2(b) of the Contract snatch 1950, when the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted. Upon such acceptance, an agreement between the parties is created.
3. pattern to create legal relations
The law requires evidence that the parties to an agreement denominate that it be legally enforceable, such intention may be either express or implied from the circumstances.
4.Consideration
Section 26 of Contracts Act 1950 provide that, as a general rule, an agreement without friendship is void.
Section 2(d) of the said Act defined experimental condition as when at the desire of the promisor, the promise or any other person has done or abstained from doing, or does or abstain from doing, or promises to do or to abstain from doing something such act or abstinence or promise is called a consideration of the promise.
5.Certainty
The terms od an agreement must be certain. Section 30 of Contracts Act 1950 states that agreements, the meaning of which is not certain, or unresolved of being made certain, are void.
6.Legal capacity
The parties entering into contract should be competent to contract. According to Section 11 of Contracts Act 1950, every person is competent to contract who is of the age of volume according to the law to which he is subject, and who is of sound mind, and is not indispose from contracting by any law to which he is subject. In Malaysia, the age of majority is 18...If you want to get a respectable essay, order it on our website: Orderessay
If you want to get a full essay, wisit our page: write my essay .
No comments:
Post a Comment