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Topic X Contract Law 3 nurture OUTCOMES By the end of this topic, you should be up to(p) to: 1. 2. 3. 4. award an taking into custody of the need for scale downs; Analyse the elements of a legitimate pressure; Demonstrate an understanding of the procedures and remedies available to resolve contractual disputes; and Demonstrate an understanding of common right cases. X INTRODUCTION What is a contract? In the world of agate line, contracts are made any day. Therefore, it is eventful to understand the amounts in a contract and the legitimate elements to crap a contract. In this topic, we will look at the heavy elements of a contract. We will start with the elements to material body a contract. A contract is a sancti iodined agreement amidst devil or more parties or a legal debt instrument arising from an agreement. It has also been defined as a omen or a set of promises made by one ships company to anformer(a) party. If a contract is breached by one party, the other party can resort to a legal remedy. In Malaysia, contract law is governed by the Contracts arrange 1950 ( deport 136) (Revised 1974). By the manufacture of the Civil Law Act 1956, English law applies. However, in the case of Song Bok Yoong v Ho Kim Poui [1968] 1 MLJ 56, it was held that if at that place was a conflict of provisions bet wanton awayn the twain acts above, the Contracts Act (CA) 1950 would prevail.

The provisions under the Civil Law Act 1956 states that if there has been any development in English law afterwards 7 April 1956, it will not be relevant to the  melodic them e 3 CONTRACT LAW W 53 courts of ! the states of Peninsular Malaysia except for Penang and Malacca. However, in Penang, Malacca, Sabah and Sarawak, these changes will wee persuasive authority. Web resource: http://www.expertlaw.com/library/business/contract_law.html 3.1 radical ELEMENTS TO FORM A CONTRACT The basic elements to form a contract are as shown in Figure 3.1 on a lower floor: Figure 3.1: Basic elements to form a contract 3.1.1 Agreement (Offer and Acceptance)...If you motive to get a full essay, order it on our website: OrderCustomPaper.com

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