CONTRACT LAW Essay Example | Topics and Well Written Essays - 2250 words

CONTRACT right - Essay ExampleAccording to Sir Frederick Pollock, contract is A promise or set of promises which the law allow for enforce2 In the general conclusion of a contract, we can understand that various elements argon essential in the creation of a contract which includes an agreement, digation, and intention to create legal relations, form, capacity, legality and other such. A reasonable contract requires (1) an agreement (2) an intention to create legal relations and (3) consideration (unless the Contract is made by deed). Whilst each of these three requirements receives separate treatment, they must in reality be looked at together.3 When all these are in existence, we understand that a contract is in operation.In addition, a contract consists of various terms, two express and implied. A term may be inserted into the contract to exclude or limit ane partys liability (the so-called small print). A term may also be regarded as unfair. A contract may be invalidated by a mistake and where the contract has been induce by misrepresentation the innocent party may have the right to set it aside. 4This is an enforceable law the violation of which is considered serious offence and, thereby, requiring penalty and consequences. If one party has made a avouchment to the other about the subject matter of the contract, in some systems he may become liable(p) for breach of contract (non-performance) if what he says turns out to be incorrect. 5Therefore the party that violates the contract is unremarkably bound to receive its consequences. A non-performance which is not excused may give the aggrieved party the right to submit performance, recovery of money due, or specific performance, to claim damages, to withhold his own performance, to terminate the contract and to descend his own performance. 6 In this background let us consider the two cases given for discussion.To consider the first case of contract violation