Contract Law Case Study Assignment Help
Define Contract Law • Contract law is a private agreement of law between two parties for the enforcement of promises. • It is the most important law in the legal system. • Every business transaction is only considered legal when it fulfills the rule and regulation of the prevailing Contract law. • It is also referred as a legal bond that is used to protect two parties who are about to enter into an agreement.
Different Categories Of Contract Law • Bilateral Contract • Unilateral Contract • Express Contract • Contract under seal • Implied Contract • Aleatory Contract • Adhesion Contract • Executive Contract • Unconscionable Contract • Void and Voidable Contracts • Letter Contracts
Points You Should Always Remember Before Writing Contract Law Case Study Assignment • Introduction Clauses • Defining the Parties and Key items • Statement’s of Purpose • Obligation of each Party • Assurances and Warranties • Attachments • Signature Block
The Process From Which A Contract Is Formed • Offer • Acceptance • Consideration • Intent
The Important Contract Components • Definitions • Materials/ Information • Liability/ Indemnity • Consideration/ payment option • Obligation of each party • Terms of validity • Governing law and arbitration • Parties • Purposes
The Importance Of Contract Law • It gives clear understanding of the condition when the parties are directly involved in an agreement. • It refers to all the terms and conditions and the applications and the rights of each party, which may vary based on the nature of the contract agreement. • It helps both parties to be mentally and logically sound and be competent when entering into contracts. • Business contracts should always have legal purpose for validation.
Breach Of A Contract And Its Effects • Breaching of a contract occurs when one of the parties in the contact violates any clauses mentioned in the agreement. • It damages the reputation of the party, their business and also the person. • If the damages are caused due to a breach of contract, the other party can lead the business into a lawsuit. • If the court finds that the violation towards the contract is momentous then the court can hold the party contempt, fine and even imprison.
The Standard Formats Of Writing Contract Law Case Study Assignment • An extensive summary • Introduction/ Abstract • Discussion • Findings • Recommendations and implementations • References
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