1-Consider the following scenarios. All involve a promise, but not all are promi
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Question
1-Consider the following scenarios. All involve a promise, but not all are promises that will be enforceable as contractual promises. Which ones do you think are promises enforceable as contracts and which are not? Discuss why you chose as you did.
•I promise that tomorrow, there will be $10,000 in cash on that table.
•I promise Francis that tomorrow I’ll pay her $10,000 in cash.
•I promise Francis that tomorrow I’ll pay her $10,000 in cash if she’ll give me her champion dachshund.
•Francis gave me the dog today, when I told her that I’d pay her $10,000 in cash tomorrow.
•Francis said she’d give me the dog tomorrow, and I said I’d pay her $10,000 in cash tomorrow.
2-
Contracts - Express, Implied, and Quasi Contracts
There are some concepts in contracts that have similar names, but quite different meanings. Explain the difference between express contracts and contracts implied in fact. Then, explain what a contract implied in law (or quasi-contract) is.
Explanation / Answer
A promise is an agreement when accepted becomes a proposal. Every agreement is a result of proposal from one side and acceptability by the other. In contract, promise is a essential legal binding agreement and is given in exchange of consideration, which is inducement to enter into a promise.
If the agreement consists of promise which is not supported by consideration, then the agreement is not legally enforceable.
In the above given scenario,
3,4 and 5 are contractual promise.
In 4&5 there is a exchange of consideration whereas in 3rd scenario, promise with a condition precedent. Eg :- I will drive you to Delhi, if you come to my house tomorrow.
2. Contract is a written or expressed agreement between two or more parties to perform an act or service and is enforceable by law.
#Elements of a valid contract
1. offer
2 acceptance
3. Consideration
4. Mutuality of obligation
5. Competency and capacity
6. Written
Express contract are those contracts which states everything specifically. Express contract are the most common contracts. It can be done both orally and written. Either way offer, acceptance and consideration must be a legal binding on both the parties.
For example -
A rented an apartment. B is the owner of the apartment and give his apartment on rent for 3 years. A and B comes into contract and in that contract date, rent amount, property tax, maintenance, and other costs of living will be given by A is specifically stated in the contract and both parties must understand the terms and conditions each is agreeing to.
Implied contract are those contracts which are created by actions of party but it is not written or spoken.
Implied in fact and implied in law are the types of implied contract
To understand implied in fact contract, here is an example
When you go inside a restaurant and you offered food, it is assumed that the food will be cooked properly and you have every intention of paying for the meal.
Implied in fact contract binds parties towards through a mutual agreement without any expressed terms of agreement.
Elements of implied in fact
1 unambiguous offer and acceptance
2 mutuality of both parties
3 consideration.
Implied in law also known as quasi contract is a contract in which there is no contract between parties, law creates certain rights and obligations on parties which are similar to the contracts. It is an obligation for the sake of justice.
For instance a pizza is delivered in the wrong address and it is already paid and that wrong addressed person keep the pizza, the court could issue a quasi contract that will require to pay back the amount of pizza to the party who have paid for the pizza.
It is not a contract but instead it is a remedy which allows plaintiff to recover benefits conferred on the defendant.
The difference between the express contract and contracts in fact is that express contract are consists of agreement in which terms are either written or orally specifically stated and agreed by both the parties. On the other hand implied in fact contracts are inferred from the facts and circumstances of the case or by the conduct of the parties and such contracts are not formally or explicitly stated in words.
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