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topic4 - Essay Example

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Author : boyd41

Summary

Terms of a contract are important to understand the intention of the parties to the contract. The terms can be oral or in writing or both which are express terms. Besides, there can be implied terms determined by customs, usage, statutes or case law. Terms discussed prior to making of a contract are not binding on the parties except those that are made in the form of representation inducing a party to enter into contract…

Extract of sample
topic4

At first, Sam without mentioning details of how the launch was going to be made, merely quoted @$75 per head for 100 delegates and a venue fee of $ 2500 thus totaling the contract amount as $10,000. Dean was unimpressed and hence declined Sam's offer. It was only after this; Sam mentioned that a famous Chef Yahoo Nim would attend the event and that a special promotional invitation on Oh My Manor's letter head would be prepared and sent by Sam to the 100 delegates three weeks before launch date. Besides, he also promised to use his own influence to ensure attendance. Dean was apparently induced by these statements of Sam and agreed to Sam's price quoted following which he paid an advance $ 3,000 and received the receipt from Sam mentioning only the price and how total sum was arrived at. Hence successful performance of the contract means that the celebrity Chef Yahoo Nim should have prepared the food and attended the function, Sam should have sent the invitation as stipulated and 100 people should have attended by Sam's influence. But none of these happened resulting in poor attendance of 35 people since only 45 invitations were sent. These can not therefore be a mere parol evidence. ...
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