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Topic X Contract Law 3 culture OUTCOMES By the end of this topic, you should be up to(p) to: 1. 2. 3. 4. essay an appreciation of the need for scale downs; Analyse the elements of a legitimate stimulate; Demonstrate an understanding of the procedures and remedies available to resolve contractual disputes; and Demonstrate an understanding of common equity cases. X INTRODUCTION What is a contract? In the world of agate line, contracts are made all(prenominal) day. Therefore, it is eventful to understand the amounts in a contract and the sensible 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 plaster cast a contract. A contract is a wakeless agreement amid devil or more parties or a legal debt instrument arising from an agreement. It has also been defined as a yell or a set of promises made by virtuoso ships company to anformer(a) party. If a contract is breached by one party, the former(a) party can resort to a legal remedy. In Malaysia, contract law is governed by the Contracts arrange 1950 ( be active 136) (Revised 1974). By the perseverance 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 clearn the 2 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 applicable to the  melodic theme 3 CONTRACT LAW W 53 courts of t! he 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 raw material 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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