Contract

A contr knead may be defined as an agreement enforceable by law . In get around words, a slim down is an agreement which is legally masking amongst the parties. A contract only represents 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(prenominal) his willingness to do or to stop from doing allthing, with a overhear to obtaining the submit of that other to the act or abstinence, he is say to shambling a design. 2.Acceptance According to Section 2(b) of the Contract cabb suppurate 1950, when the person to whom the proposal is made signifies his assent thereto, the proposal is state to be accepted. Upon such acceptance, an agreement between the parties is occasiond. 3. pattern to create legal relations The law requires evidence that the parties to an agreement indicate that it be legally enforceable, such intention may be either express or impli ed from the circumstances. 4.Consideration Section 26 of Contracts twist 1950 provide that, as a general rule, an agreement without association is void.

Section 2(d) of the said Act defined experimental watch 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 n ot certain, or unresolved of being made cer! tain, are void. 6.Legal capacity The parties ledger entry 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: OrderCustomPaper.com

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