Class notes

Handmade Class Notes of International Contract Law

0 purchase

Course
B.A In Economics And Business Administration

Institution
BSP Business School Berlin Potsdam (Berlin)

It basically handmade notes and some examination guide and their related question answers of International Contract Law. Also, it provides a wide range of question answers which helps in your exams and in your assignments. I hope it may help in your studies and at last best of luck...

[Show more]

Preview 2 out of 13 pages

View example

Uploaded on May 18, 2021
Number of pages 13
Written in 2020/2021
Type Class notes
Professor(s) Kristina pilik
Contains All classes

ccntract
elements of contract
theory of contract law
nature of adverts
social contracts
commercial contracts
condition of contracts
condition and warranty
theory
elements of misrepresentation to exist

Institution
BSP Business School Berlin Potsdam (Berlin)
Education
Business Administration
Course
B.A In Economics And Business Administration

$7.65

Add to cart

Save

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

HANDMADE NOTES
LEARN
TO
LIVE

INTERNATIONAL CONTRACT LAW QUES/ANS
PROF. KRISTINA PILIK

QUES.1 What is Contract ?

ANS. A contract is a legally binding document between at
least two parties that defines and governs the rights
and duties of the parties to an agreement. A contract is
legally enforceable because it meets the requirements
and approval of the law.

QUES.2 What are the essential elements of a contract? Name and
Explain.

ANS. Seven essential elements must be present before a contract is binding: the
offer, acceptance, mutual assent (also known as “meeting of the minds”),
consideration,capacity, and legality. Contracts are typically in writing and
signed to prove all of those elements are present.

1. The “offer” is the promise one party makes to pay the other for their services.
For example, you might agree to pay a graphic designer $1,000 to create a
logo for your business. You agree to pay a deposit and the balance upon
delivery of the logo electronically, in formats you can use for both print and
online marketing.

, 2. “Acceptance” is when the other party agrees to perform the task for the
compensation specified in the contract. In this example, it’s when the graphic
designer agrees to the price and accepts the deposit.

3. “Mutual assent” is the combination of a valid offer and acceptance between
the parties. A signed contract proves mutual assent. In the absence of a

written contract, mutual assent can be demonstrated by the actions the parties
take after the offer is made and accepted. For example, mutual assent might
be when you’ve sent a deposit to the graphic designer, and they’ve provided
you with three rough concepts for your logo.

4. Consideration” is what is paid in exchange for goods or services.
Consideration is usually but not always money. A lawyer might write a lease
agreement for an accountant in exchange for the accountant doing the
lawyer’s taxes.

5. In contract law, “capacity” is the presumed ability of a person to understand
the terms, obligations, and consequences of signing a contract. Some parties,
such as minors, people suffering from illnesses like dementia, and anyone
under the influence of alcohol or drugs are presumed to lack the capacity to
sign a binding contract

6. To be legal, the contract must adhere to the law in the jurisdiction where it’s
signed.For example, let’s say you sign a contract to lease your garage for $100
per week to a very loud rock band for practice beginning at 11 p.m. You later
learn their practice violates a local noise ordinance. That contract is void,
regardless of whether you like the music and the band paid the rent.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller sayammakhijavlogs. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.65. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

66184 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling