Legal Aspects of Engineering 1 name the essential of valid c

Legal Aspects of Engineering

1. name the essential of valid contract. identify these elements in Kuenzin v. Radloff.

2.How many contracts did you enter into today? For example, did you withdraw money from an automatic teller machine? What contracts ere involved? Did download a song? Write down at least three contracts into which you entered today and classify them into the categories set out in the section “different classifications contacts “

3.Black, a minor, sells a piece of real estate that black inherited. Black spends the money rather foolishly and, by the time of adulthood. Black is deeply in debt. Black’s creditors force black sold as a minor is quite valuable; in fact, the value is sufficient to pay black’s debts and leave substantial remainder. Black refuses to disaffirm the sale. May the creditors disaffirm for black? Why or why not?

4.Black is in need of a turret lathe similar to a used one white is trying to sell. White offers black the lather for $2,500. Black: “I accept, providing you will deliver the lathe and have it in my show by tomorrow noon.” White: “sorry, but my truck will not be back in town before tomorrow night.” Black: “than I will pick it up myself, because I need it immediately.” White: “I believe I will wait a while longer before selling it.” Black: “ you can’t; we made a contract.” Was there a contract ? why or why not?

Solution

SOLUTION:

1. ESSENTIAL OF VALID CONTRACT

1. Acceptance and offer:

In a contract there must be at least two parties. The offer when accepted becomes agreement.

2.Relationship Legal:

It arises when the parties know that if any one of them fails to fulfil his part of the promise, he would be liable for the failure of the contract.

3. Consensus-ad-idem:

The parties to an agreement must have the mutual consent(i.e. meeting of minds).

4. Competency of parties:

The parties they must be capable of entering into a contract.

5. Free consent:

“Two or more parties are said to consent, when they agree upon the same thing in the same sense.” Under Sec. 14, the consent is said to be free.

6. Lawful consideration:

Consideration need not be in cash or in kind. A contract without consideration is a ‘wagering contract’ or ‘betting’. Besides, the consideration must also be lawful.

7. Lawful objects:

(i) If it is forbidden by law ,If it is against the provisions of any other law;

Thus, any agreement, if it is illegal, immoral, or against the public policy, cannot become a valid contract.

CLASSIFICATION UNDER CONTARCT

1.Executed Contract: The work said is done immediately, which I was Shift the material one place to another place immediately and receives money on spot

2.Express contract: Express contract is one which expressed in words spoken or written..I am doing the work and get payment weekly with written of particular Item of work and receives today in ATM.

3. Formal contract: To satisfied all the essentials of a contract of works.