Law Question 4,5 Short and easy to understand ^^ Thank you UluUlr to induce them
ID: 366115 • Letter: L
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Law Question 4,5 Short and easy to understand ^^ Thank you UluUlr to induce them to enter lJ-year term, an oral statement made by Crown that Cosmopolitae into the Would be "looked after at renewal time" amounted to a collateral contract that the landlord would renew the leases for a further S years if they undertook the refurbishments. The High Court upheld the Court of Appeal's finding that the statement was no more than "vaguely encouraging" and did not amto collateral contract as a reasonable person in the position of the parties could have understood the statement to a the leases. extensive not mount to a binding contractual promise to The High Court affirmed that even if the statement promise, it was illusory and unenforceable because it left the essential te conditions of the renewed leases to the landlord's discretion. As a result, statement was incorporated into the tenants'leases, it would have been unenf as it was not sufficiently certain. The decision reinforces the basic principle that can be no enforceable agreement to renew a lease, breach of which will result damages, unless at least the essential terms of the lease have been agreed. were considered to be a terms and even if the orceable Further reading See texts listed at the end of Chapter 2. Tutorial activities 1. Why must an acceptance be unconditional? What, in effect, is a conditional acceptance 2. What is an option contract? How is it different from a deposit? 3. Assume that B has accepted an offer from A. When and where is the contract made ithe acceptance is communicated by (a] telephone (b) post (c) email? In your answer to ic rele to relevant legislation. 4. Hardly Normal Pty Ltd, a vendor of electronic equipment, advertised: NEVER TO BE REPEATED OFFER 50in PANASONIC PLASMA 30 TELEVISIONS$7500 Ben saw the advertisement and the next day (Thursday) went to the store and said t Mary, the sales managerExplanation / Answer
1. There must be unconditional acceptance in contract because if a condition is put in the contract before acceptance then it will amount to new offer . Conditional acceptance will make the original offer void and it will give effect to new offer and acceptance.
The conditional acceptabce will take effect only when the counter offer made by the original promisee is accepted by the original promisor. Until then the offer will never amount to contract.
2. An option contract is one in which the buyer has the option to sell the asset at a future date at an agreed upon price. This type of contract is usually made in case of securities, real estate and commodities.
Deposit contract is. Contract between a financial institution and it's customer. These contracts are made for the deposited funds and payment of cheques and other demands against customers account, where the banks make the payments, debit the amount on behalf of the customers with their prior consent.
3. a) telephone- if acceptnce is made through telephone it is accepted a against the proposer as soon as the acceptance is communicated to the receiver on the phone.
b) post - when it is made by post then offered is deemed to accepted as gainst the proposer as soon as the letter of acceptance is posted by the proposee and it will be considered to be accepted even if it is lost during transit.
c) via email the offer is said to be accepted when the email is received by the proposer on his computer.
4. In this scenario there is no contract between Hardly Normal Pty Ltd. because there was no offer and acceptance about the television set. The offer was made by Mary to sell the demonstration piece at 6000 dollars but there was no acceptance made by Ben and he kept the acceptance pending until next day. So the contract made by Mary and Jin was valid nd enforceable. Ben cannot sue Mary for not keeping the TV set until next day.
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