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Essay

Business Law problems

Essay specific features

 

Issue:

Business

 

Written by:

Elizabeth M

 

Date added:

April 1, 2014

 

Level:

University

 

Grade:

C

 

No of pages / words:

10 / 2605

 

Was viewed:

6363 times

 

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Essay content:

There should be an agreement to enter into the contract b. Consideration - meaning that "every party is conferring a benefit on the other party or himself sustaining a recognizable detriment, such as a reduction of the party's alternative courses of action where the party would otherwise be free to act with respect to the subject matter without any limitation" (Wikipedia)...
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This simply means that there should be something given and something received. c. Legality - The good or service being exchanged must be legal d. Capacity ? both parties should be legally competent to enter into the agreement. 2. Describe the objective theory of contracts. How does that theory apply to this case? In layman's term, the objective theory of contracts simply means that "we look at whether a reasonable person to whom the statement was address would believe it to be an offer" (Lloyd)...
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