Last Updated 06 Jul 2020

Contract Law Argumentative Essay

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BUSINESS LAW ASSIGNMENT ------------------------------------------------- “To create a binding agreement the acceptance must occur, and that ‘acceptance’ must be final and absolutely unconditional. This is clear under Australian contract law. ” ------------------------------------------------- ------------------------------------------------- Discuss the accuracy of this statement. In order to discuss the accuracy of this statement we must first understand the concept of ‘acceptance’. The easiest way is to first study the definition of the word. ‘The action of consenting to receive or undertake something offered” (Google Translate).

To accept in the terms of the law is defined as “Law Compliance by one party with the terms and conditions of another's offer so that a contract becomes legally binding between them. “ (The American Heritage Dictionary of the English Language, Fourth Edition). Contract Law is the main area of the law that this statement is referring too. It is true that in order to have acceptance in a binding agreement both parties must be 100% clear in content of the contract and also what the circumstances are if the contract is broken in any way. However we must also state the agreement is not the sole factor in a Legally Enforceable.

There must also be intention and consideration to allow the contract to become legally binding. In order to fully grasp this statement we must look at how contract law has developed from history to the present day and also to analyze the cases that have pushed these advancement or changes. To firstly be able to discuss the accuracy of the statement I believe it is vital to know how contract law came about and how acceptance plays a part in it. In order to do this we must have knowledge about the history of contract law and some of the first cases where acceptance existed.

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At the very beginning the first form of contract law would be seen as a verbal contract. As knowledge developed we can see that contract law can be traced back to the civil law system that was created in Western Europe and can date back as far as 439. BC. However contract law was first known as English Contract Law and was related to Lex Mercatiora which is a common law system used throughout Europe during the medieval period. English contract law was first activated during the industrial revolution which began around 1760.

The role that agreement played in the first cases of English contract law was that agreement can only remain if both sides of the party see the terms on offer in unambiguous and unequivocal way. The court must also determine whether or not an offer has been put forward and if it has been accepted. In order to do this they ask if a reasonable person would consider the outcome is lawfulness and correct. There are many cases in early history of English contract law where we can see that acceptance plays a major part. These cases also help develop the contract law system and the understanding of acceptance. One of these case is the

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