Political Science 3334E Study Guide - Quiz Guide: Mirror Image, Partridge V Crittenden, Vajrayana
7 Nov 2020
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Business law the law of contract offer and acceptance: b pays deposit- consideration as the badge of enforceability, once contracts exchanged, b acquires equitable interest in the land. Completion stage: transferor [s] executes deed to transfer ownership to transferee [b] (s. 52. Lpa 1925/ s. 1 lp(mp)a 1989: tr"ee [b] pays balance of purchase price. + tr"ee must also be registered as new owner for legal ownership to pass. What is a contract: agreement, oral, written. Formation of a valid contract: agreement offer and acceptance, considerartion, an intention to create legal relations, compliance with required formalities where applicable, capacity, otherwise void, voidable or unenforcable. Offer and acceptance: offer a proposa; made on certain terms by the offeror with a promise to be bound by that proposal if the offeree accepts the terms, mirror image rule, offer must be clear. In unilateral contracts communication of acceptance was not necessary. No indication was given of what the promise really meant.
