Commercial Law

Commercial Law 200432 Assignment Question 1: Facts (Summary): David, Stephanies first babys boyfriend had proposed marriage and Stephanies sister had agreed provided he make dos his motor bike. David endues Stephanie a no(prenominal) go to sell the bike to her for $1,200. Stephanie left the following mental object Hi David, this is Steph. I would see to misdirect the bike for $1,200 which had been accidently erased by David belittled brother. Stephanie then gave a note to her sister to give to David that iniquity saying I accept your offer to sell the bike for 1200 subject to my obtaining a loan on solely right m iodintary value. Stephanies father refused to add up either m angiotensin-converting enzymey to her to buy a motor bike. Issues: Is in that respect an agreement between David and Stephanie? What is unavoidable to constitute an offer? Was the offer accepted? Is there either figure to be level-headedly bound? Is there any co nsideration? Must some(prenominal) parties give consideration (bilateral)? report of Laws: Offer and acceptance together constitute an agreement. A coquette willing look for an recognizable offer by one party to the other, follow by a clear and lucid acceptance of that offer by the offeree.

If and only if the court satisfactory confirms the existence of an agreement, it will then look for the remaining inwrought components of intention and consideration. The parties must have intended legal obligations to result from the agreement and that the agreement would then be enforceable by a court of law. T his will be determined objectively and the c! ourt will refers to one of the two givens concerning the establishment of intention and which parties need to provide the test of rebuttal. The agreement are in domestic or loving nature do not usually involve legal relationship and are wherefore presumed in law to be not legally bounding. The burden (responsibility) of proving that the presumption has been rebuttal in a particular sheath is upon the party asserting that the presumption has been...If you want to get a full essay, order it on our website: BestEssayCheap.com

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