Mutual Mistakes In Business Law Essay - Words | Bartleby
Therefore in this essay, the four core elements needed for the formation of a contract such as offer, acceptance, and consideration and intention to create legal relations will be discussed briefly. Offer An offer is a proposal whereby the parties are willing to contract. PHONE: Course Description: Legal Environment of Business: History of law from the Common Law down to the present Uniform Commercial Code, including ethical considerations and social responsibilities fundamental principles of law pertaining to business and persons, contracts and principal-agent relationship. Prerequisite: Sophomore Standing. Adam Smith, also.
This article was co-authored by Clinton M. Sandvick, JD, PhD. Clinton M. Sandvick worked as a civil litigator in California for over 7 years. This article has been viewed , times.
In the case Entores Ltd v Miles Far East Corporation, it is held that postal rule does not apply to instantaneous way of communication. Hence, the acceptance by Joanne cannot be a binding contract between Andy and her. Andy can revoke his proposal at any time. Conclusion There is a contract between Joanne and Andy. Andy does not have to sell his car to Joanne Andy can revoke his proposal.