Contract Law Essay Example | Topics and Well Written Essays - 2250 words - 2

Contract Law - Essay ExampleAmber has made an offer to conduct David 20,000 after supplying the computer software. David accepted the offer and by commencing to fulfil his obligations, David has simply accepted to be bound by the terms of the adjure. The terms of the specialize are that David would be paid 20,000 and finish the contract by 30/05/04. Therefore there exists one of the essentials of a valid contract i.e. consensus and ideam a partially from offer and acceptance. This principle refers to a meeting of the minds. It must be shown that both parties understand the subject matters of the contract before agreeing (assenting). None of the parties i.e. between David and Amber tummy deny knowledge to the terms of the contract.However, an offer terminates if a counter offer is made to them. This is a reply to an offer whose effects is to vary the terms of the pilot film offer. A counter offer extinguishes the original offer and the person to whom it was originally made canno t move it. However, it can result in a contract if its terms are accepted by the original offers.