Sheheryar Tamimi_49611__Activity pp.docx - Sheheryar Tamimi...

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Sheheryar Tamimi49611Professional PracticeBSCSClass ActivityMax Marks: 05Instructions:Write a brief note on the following points with appropriate examples:PromiseAgreementContractYou are required to go through the following mentioned links and write summary after watchingthe links.Note:Refer lecture 10 slides as well available on blackboard for summary writing task.
SummaryAgreement = Promise + Requisite considerationThe agreement is usually made for commercial purposes.Contract = Agreement + Enforcement by Lawthe contract is made for commercial or social purposes.The party which gives or describes or proposes the offer is called the offer or.The party towhom the offer is given is called the offered.Specific OfferA specific offer is the one,which is made to a specific person or a group of persons.It can beaccepted only by the person or group of persons to whom it is made.ExampleThe Carbolic Smoke Ball Co.Examplethe Company advertised that a reward of £100 wouldbe given to any person who would suffer from influenza after using this medicine according toprinted directions.The Court found that she had accepted a general offer and the essentialelements of a contract were all present,including offer,acceptance,consideration and anintention to create legal relations.The court awarded Mrs..Counter Offerif an offered does not agree to the terms of a contract,the offered may modify the terms andmake a counter offer.When the offered makes a counter offer,this signals a rejection of theoriginal offer,

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Term
Spring
Professor
N/A
Tags
The Court

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