U.S. Law

Undergraduate
Essay
Law
Pages 4 (1004 words)
Download 0
In business agreements, it is generally presumed by courts that there is an intention to create legal relations unless the parties insert a clause that their agreement shall not be binding in law but shall be binding in honor only. …

Introduction

In business agreements, it is generally presumed by courts that there is an intention to create legal relations unless the parties insert a clause that their agreement shall not be binding in law but shall be binding in honor only. A contract is an agreement between two or more persons which is intended to create legally binding obligations. The word 'binding' is used for there are some contract which are valid but are not enforceable contract, certain basic requirements must be present. There must be an agreement based upon genuine consent of parties, supported by consideration and unable for a lawful object between competent parties. (Hussain, 2002).An offer may be made to a specific person or to any member of a group of persons or to the world at large, but it can not form the basis of a contract until it has been accepted an ascertained person or group of persons.For this case, the owner of happy acres made an offer to sell his property on March 15th to an interesting buyer. He offered to sell his property for $200,000, closing to take place 18 days of acceptance, time being of essence. The offeror added that if the offeree sent him a non refundable $4000, the offer would remain open for 30 days from the date thereof. This meant that if the offeree paid a non-refundable $4000, the offer would remain open for 30 days.The owner of Happyacres was told by a business acquaintance that he thought that would pay up to $275,000 for Happyacres on March 25th and he changed his mind and wrote a letter on March 26th. ...
Download paper
Not exactly what you need?

Related papers

U.S. & Japanese History
The essay is related to the background of the Japanese history.The US-Japan economic relations are discussed in relevance to various example, then US-Japan defense and US-Japan social relations and US-Japan cultural relations are discussed.Then the treatment of Japanese citizens by the United States during the Second World War is discussed in a great detail. Lastly a conclusion is provided for at…
7 pages (1757 words)
Trade sanctions against Iran
If we were in the carpet importing business, there would be nothing to bar us from importing and selling Persian rugs from Iran. We are in the grain business, however, and U.S. law thereby prohibits us from conducting business with the country, which many know best for its militant takeover of the U.S. embassy in Tehran in 1979 and the subsequent taking of hostages.…
2 pages (502 words)
Criminal Law: Penal Law
The police file a document, in most jurisdictions known as a complaint, with a court in the appropriate jurisdiction. The interests of the state are represented by a prosecuting attorney, while the interests of the defendant are represented by his or her attorney. While the specific process varies according to the local law, in virtually every jurisdiction the process culminates with a trial,…
8 pages (2008 words)
The U.S Policy on Cuba
Currently, there exists no official diplomatic relationship between Cuba and the U.S; rather the countries have maintained an embargo that makes any business association between Cubans and U.S corporations illegal. Analysts argue that the conflict between the U.S and Cuba is as a result of the Americans imperialism ideology that is invading the freedom of Cubans. The U.S has maintained its…
5 pages (1255 words)
Aspects of U.S. strategic culture
In an article on U.S. strategy,Farrell has outlined two specific aspects casualty aversion and its legal pragmatism in its approach to international law.A constructivist approach applied to these aspects helps to bring clarity to an understanding of U.S. strategy, since it highlights the "inter-subjective knowledge which constitutes identities and interests."1 In terms of casualty aversion, the…
3 pages (753 words)
Power Play: The U.S. Case
was home to small Spanish and French colonies. Not until the late 16th and early 17th centuries - when England's monarchs and businessmen with mercantilist intentions sent adventurers - did colonisation begin with the first settlement at Jamestown in 1607 (Loewen, 2005, p. 48-49).…
6 pages (1506 words)