StudentShare solutions
Triangle menu

Commercial Transactions (Contracts) - Essay Example

Nobody downloaded yet
Secondly there was no agreement in this case. PepsiCo only gave a humorous advert. John did not get into the advert to proof whether it was true or not. Further, according to this theory, the third party (Jury.) will only determine where the contract arises. In John's case the contract does not arise, as all valid essentials to constitute a contract were not taken into consideration.
The court held that there was no valid contract simply because this case was a mere advert which did not consist the requisites of a valid contract like offer and acceptance. There is also no agreement as well as an object to contract for.
Advertisements are generally not considered as advertisements. This is because for an offer it must made to a specific person and not public. Therefore advertisements, which are made to the public, in general cannot be an offer.
In a reward situation, the offer is made to only one person who performs that task. The task to be performed in reward situation is to be done by one person. For instance if 'A' offers a reward to anyone who will recover his lost property, no one is bound to recover the lost property but 'A' is bound to give the promised reward to any one who mighty recover the property. Thus in Leonard's case, the company was not bound to reward anybody on completion or on fulfilling their requirement. ...Show more
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Commercial Transactions (Contracts) Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Retrieved from https://studentshare.net/miscellaneous/302899-commercial-transactions-contracts
(Commercial Transactions (Contracts) Essay Example | Topics and Well Written Essays - 500 Words)
https://studentshare.net/miscellaneous/302899-commercial-transactions-contracts.
“Commercial Transactions (Contracts) Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.net/miscellaneous/302899-commercial-transactions-contracts.
  • Cited: 0 times

Summary

Currently, contract law is used based on the objective theory of contracts. The objective theory states that if an objective third party (Jury) believes the parties intend to form a contract, then a contract should be found, meaning we prefer to interpret them to find there is no contract.
Commercial Transactions (Contracts)
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Commercial Transactions (Contracts)"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Commercial Contracts
In the Law of Contract, the literal approach seem to be the default position for courts in terms of interpreting contracts2. However, important changes in the English legal system has caused courts to move from the mere literal approach to a more critical purposive approach3.
10 pages (2500 words) Essay
What role does Lex Mercatoria Play in international commercial contracts
But amid the dynamic changes of relations in the international commercial turnover, the legal regulation of these relations did not undergo a radical transformation. Such means as collision and substantive rules of national legislation of parties in dispute or the provisions of international contracts were traditionally used
7 pages (1750 words) Essay
Business law- Contracts and leases
A Lease of property is an example of a business contract. Contracts create an obligation of doing or not doing particular things, and they are important to the community because they facilitate cooperation and trust. Business contracts are one of the most popular legal transactions that people get involved in when running businesses.
4 pages (1000 words) Essay
Commercial Law and Transactions
57). In this regard, goods sold by a person who is not the owner and who does not sell the goods under his authority or with the owner’s approval; the purchaser acquires no better title to the goods than that which the seller had (Clarke and Kohler, 2005, p.
5 pages (1250 words) Essay
Uniform law for computer info transactions
This can be found in Article 1, Section 8, Clause 3 of the United States Constitution.According to The Law Offices of Royal W. Craig “Unfair competition encompasses a broad array of legal rights existing under federal and state laws that serve to protect intellectual property.
3 pages (750 words) Essay
Commercial Transactions and International Law
Article 2 of the UCC governs the sale of hard goods. The product that the UCITA deals with is strictly computer information and does not meet the definition of a "good." Information is not a hard good but merely intellectual property, even though it is stored on a material medium.
2 pages (500 words) Essay
Commercial Transactions (Contracts)unit DB
As an initial matter, the amount of commerce which takes place electronically continues to increase at significant levels. The United States Commerce Department “forecasts Internet retailing will exceed $50 billion
2 pages (500 words) Essay
Commercial Transactions and International Law unit 4IP
fully addressed, because even though the federal government was limited to exercising only enumerated powers, these powers included the power to regulate commerce. Notwithstanding this expansion of federal power, certain actions and policies prevalent in several States have
3 pages (750 words) Essay
Commercial law ( commercial contracts )
In commercial contracts, an acceptance of an offer must agree to all the terms of the offer unconditionally. An acceptance with a new
6 pages (1500 words) Essay
Comments (0)
Click to create a comment
Let us find you another Essay on topic Commercial Transactions (Contracts) for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us