Law 531 Week 4 Contractual Analysis

lContract law is needed to ensure compliance with a promise or to entitle a non-breaching party to relief when a contract is breached. All contractual relationships involve promises, but all promises do not establish contractual relationships.  Most contractual promises are kept; keeping a promise is generally in the mutual self-interest of the promissory and the promisee.

Requirements of the Offer

• Agreement = offer and acceptance.


• Parties must show mutual assent to terms of contract.


• Once an agreement is reached, if the other elements of a contract are present, a valid contract is formed.

Acceptance

• Acceptance is the

ŸVoluntary act (expressed or implied),

Ÿby the Offeree that,

Ÿshows assent (agreement),

Ÿto the terms of an offer.

• “Mirror Image” Rule


• 
  
  • Express contract: terms of contract are set forth either in writing or orally.
  
  
  • Offeror being the US Navy and Offeree would be me, Levuris J. Smith exchange promises to each other making the contract a bilateral contract.
  
  
  • “A personal services contract is a contract to perform" continuous [duties that] involve skill, personal labor, and cultivated judgment“, which a enlistment contract is known as (Sagi, 2010, para. 2, p.168).
  
  
  • 
    
    • Express contract: terms of contract are set forth either in writing or orally.
    
    
    • Offeror being the US Navy and Offeree would be me, Levuris J. Smith exchange promises to each other making the contract a bilateral contract.
    
    
    • “A personal services contract is a contract to perform" continuous [duties that] involve skill, personal labor, and cultivated judgment“, which a enlistment contract is known as (Sagi, 2010, para. 2, p.168).
    
    
  
  
  • ALL PPT slidez Attached...........
  
  

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Law 531 Week 4 Contractual Analysis

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Law 531 Week 4 Contractual Analysis