Month: March 2022

Definition: E-contract is a contract modeled, specified, executed and deployed by a software system. E-contracts are conceptually very similar to traditional (paper based) commercial contracts. Vendors present their products, prices and terms to prospective buyers. Buyers consider their options, negotiate Read More …

There is an old joke that “an oral contract isn’t worth the paper it’s written on”. That’s a reference to the fact that it can be very difficult to prove that an oral contract exists. Absent proof of the terms Read More …

A contract supported by consideration, in which there is an intention to enter into legal effect where if is affected by a vitiating factor. A vitiating factor (or element)is one which tends to affect the validity of the contract. The Read More …

An essential ingredient of a valid contract is that the contracting parties must be ‗competent to contract‘. Every person is competent to contract who is of the age of majority and who is of sound mind, and is not qualified Read More …

Invitation to treat is a term of contract law to distinguish advertisements or merchandise displays from formal contract offers. It is an offer to receive an offer. Under UK law, the price tag on an item displayed in a shop Read More …

The essential elements of valid contract as follows: 1. Offer and acceptance- There must be a ‗lawful offer‘ and a ‗lawful acceptance‘ of the offer, thus resulting in an agreement. The adjective ‗lawful‘ implies that the offer and acceptance must Read More …