Business law Coursework Example | Topics and Well Written Essays - 1500 words

Business law - Coursework ExampleThis should follow the prepare of voluntary entering into a use up. However, one can withdraw an offer if acceptance has not been concur upon. This should be done through proper communication to the other party that you want to withdraw from the trim back with clear reasons. Acceptance occurs when the party you are entering into the contract with agrees to abide by the offer (Cheshire 2007).The secant element is the circumstance. It is the price of the promise and doesnt necessarily involve money value. They can take the courtship of interest and the rights, for this case now this fulfillment will be satisfaction leading to contractual obligation.Thirdly, on that point must be intentions to create a legal relationship. The agreement must be legally abiding. make-up is the principal legal document of a country. Therefore, each every agreement has to abide by it so as to suit the countrys law. Lack of fulfillment of this will render the contrac t vain and void.Consent is the act of informing the other party of your intentions in a contract a event thing (Gordon Stephenson 2007). It can either be expressed or implied. In this case, there must be proper communication between the two parties. If an offer has been brought forward, then the acceptor has communicated clearly his or her intentions. This implies that a contract has be formed or entered into in case he/she accepts to abide.Pre-existing duty rule is a common law rule of a contract. It states that the performance of an act in which a party is already bound to undertake does not constitute legal consideration for a new promise (Nigel Beckmann). caller offer of a performance already required under an existing contract is an inadequate consideration for adjustment of the contract.MR Martin has an outstanding balance meaning that he is liable to explain that the said payments. There is a need for extra caution so as to avoid the possibility of making unnecessary