PHAM VAN Q

PHAM VAN Q - Student code: E0800014. RAYMOND AND JAMES Law...

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Student code: E0800014. RAYMOND AND JAMES Law is understood as being a general rule of conduct and the aim of the law is to attain justice in society. Justice is an abstract idea of right and wrong, fairness and equality. Therefore, the aim of a given law is to encourage the doing of what is right or just in a particular set of circumstances. In life, people need and use the law as tool to adjudicate the right or wrong. And in the case of Raymond and James, they need help from the law. Raymond wished to sell his shop in Ipoh, Malaysia to Jame. On 5 th May 2007, he called James from Singapore and offered to sell his shop to Jame at RM600,000. Jame asked Raymond: “The price is a bit expensive. Is it possible to reduce the price a bit because I do not have enough money to pay the deposit as I just bought a new car?” Raymond then replied: “I believe the price is not negotiable as I offered it lower than the market value. The market value is RM700,000”. On 7 th 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 to James revoking his offer. In this case, when Raymond give an offer about selling his shop for James which means this is an offer because in section 2(a) of the Contracts Act 1950 state that ‘when one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that other to the act or abstinence, he said to make a proposal’. In addition, we can base on section 2(b) of the Contract Act 1950 ‘when the person to whom the proposal is made signifies his assent thereto, the proposal is said - 1 -
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Student code: E0800014. RAYMOND AND JAMES
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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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PHAM VAN Q - Student code: E0800014. RAYMOND AND JAMES Law...

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