LAW 531 WEEK 4 CONTRACTUAL ANALYSIS
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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