assignment law101

assignment law101 - Student code: E0800024 CASE OF RAYMOND...

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Student code: E0800024 CASE OF RAYMOND AND JAMES (2007) Summary case of Raymond and James (2007): On 5th May 2007, he called James from Singapore and offered to sell his shop to James at RM600,000.” James feels that the price is a bit expensive. And he asked Raymond: Is it possible to reduce the price a bit? However, Raymond then replied that the price is not negotiable as I offered it lower that the market value. On 7th May 2007, James posted his letter of acceptance to Raymond at 10.00am at a Post Office in Ipoh. On the same day, at 10.01am, Raymond sent a sms (short message service) to James revoking his offer. Advise both parties. The law of contract is mainly about the enforcement of promises. Not all promises are enforced by courts. To enforce a set of promises, or an agreement, courts look for the presence of certain elements. When these elements are present a court will find that the agreement is a contract. This is a somewhat artificial process. To certain extent, courts will find that some agreements simply look like contracts , and they then reason backward - and find the elements necessary to form a contract. A contract means that the parties have voluntarily assumed liabilities with regard to each other . For a contract to be formed, the offer must be unconditionally accepted. The law imposes various requirements as to communication of the offer and the acceptance. In my following essay, I am going to analyse case of Raymond v. James (2007) to everyone understand more about law of contract. A contract begins with an offer. McKendrick, chapter3: “offer and acceptance”—up to 3.7 acceptance stated that: Offer is an expression of willingness Page 1
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Student code: E0800024 CASE OF RAYMOND AND JAMES (2007) to contract on certain terms. It must be made with the intention that it will become binding upon acceptance. There must be no further negotiations or discussion required. The nature of an offer is encapsulated by two cases involving the same defendant,
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This note was uploaded on 07/29/2011 for the course BUS 444 taught by Professor Lynn during the Spring '11 term at Keuka.

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assignment law101 - Student code: E0800024 CASE OF RAYMOND...

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