The commonest form of contract law Essay Example | Topics and Well Written Essays - 750 words

The commonest form of contract law - Essay Example A court of law usually enforces the contract as long the offeree proves that he posted the letter. For the case of Bella, the letter he posted on 25th September 2006, but arrived on 30th September 2006, the contract to purchase the text book became binding immediately he sent the letter of acceptance. It does not matter that the letter was delayed by the post office. On the issue that since the recommended textbook for the course has changed, and Bella does not wish to buy the textbook, this would not apply. Acceptance one made, it cannot be revoked. The moment Bella expressed his acceptance of an offer, that very moment the contract is concluded, and it does not matter whether the acceptance is by word of mouth or even by writing. On the case of Chu who accepted Arun's offer by telephone, his contract became complete when the acceptance was heard by Arun on 30th September 2006. According to the law of contract, there is an exception to the communication of acceptance. A contact is complete only when acceptance is actually communicated to the offeror. But a contract made by telephone is complete only when the acceptance is heard by the offeror. For this case, Chu should not revoke the acceptance on the basis that the book will not be useful since it is not recommended text book in his course. An acceptance once made, it cannot be revoked. On the case of Dilma, who accepted the offer by email sent on 27th September 2006 but read by Arun on 28th September 2006, the contract became binding immediately the email of acceptance was sent. According to law of contract, there is an exception to the communication of acceptance as acceptance made by cable takes effect from the moment of posting is an exception to the general rule, that a contract is complete only when acceptance is actually communicated to the offeror. For this case, Dilma cannot be able to revoke the acceptance since an acceptance made cannot be revoked. Past Consideration is Sufficient Consideration Although consideration must not be past, there are three exceptions to this rule that past consideration is no consideration. The exceptions to this rule are applicable when:- The past consideration consists of services rendered at the express or on legally implied request of the promissor. A relevant case studied on this concept is that of:- Lampleigh vs. Braithwait In this case B, under death sentence, requested L to obtain King's pardon for him, which he did. B subsequently promised to pay 100 to L, which he failed to pay, and pleaded the defence that his promise was based on past consideration. It was held that as the plaintiff performed services as the express request of the defendant, a subsequent T promise to pay would be binding on him. When a debt, the payment of which is barred by statute of limitations, is revived by a fresh promise in writing for example if a creditor does not demand the repayment of the loan from his debtor within six years of the loan hence he cannot enforce his claim in the court in case the debtor refuses to pay. Lastly in the bill of exchange Act that provides that an antecedent debt or liability on the part of the promisor or drawer of the