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Monday, February 18, 2013

Financial Statements Accuracy

Question 1

This case requires an understanding of the law regarding contribute and sufferance in name of Law of Contract. It is pertinent to mention here that the Law of Contract applicable in India is based on the Common Law of England basically and the same principles are applicable in this country as well. Before rendering some(prenominal) legal advice to Anne, it is incumbent to discuss the provisions pertaining to state and acceptation along with case laws on the subject, so that an effective and dress advice can be given to Anne.

An offer has been defined as, An offer is a promise, or other expression of willingness, by the offeror to be bound on certain specified terms upon the unqualified bridal of these terms by the person to whom the offer is do (the offeree).[1] In this case, the first thing that needs to be analysed is whether Anne made a valid offer. A perusal of the facts reveals that on Tuesday, Jay received Annes offer and the facts also reveal that Anne had made a clear offer asking Jay to convey his credenza by Friday whether he was willing to purchase the car or not. So it can be stated that the first tempo for conclusion of contract has been made success spaciousy by Anne.

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The secondly thing that needs to be ascertained as to whether betrothal was made by Jay or not and to understand that right it is necessary to understand what is acceptance of an offer and when does it become irrevocable. An acceptance to offer has been defined as An offer is accepted by the unconditional and unqualified accept to its terms by the offeree. This assent may be expressed through words or conduct, but cannot be inferred from mere silence save in very exceptional circumstances…… As a usual rule, acceptance must be communicated to the offeror, although a limited exception exists where the acceptance is sent by post and this method of dialogue is either expressly or impliedly authorised. This exception, known as the postal acceptance rule, stipulates...If you want to get a full essay, order it on our website: Orderessay



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