Fundamentals of Contract Law Essay Example | Topics and Well Written Essays - 1500 words

Fundamentals of Contract Law - Essay ExampleThis letter also stipulated the precedence of MSC company scathe and provision was made for an increase in price. Therefore Betty has not agreed to the original terms of Ables contract, she has only accepted conditionally1. Therefore, this is a retort finisher which is in effect a correction of the original stumbleer that Able has made. Therefore, it is now Bettys offer that is up for negotiation and Able has indicated his acceptance of Bettys offer by signing on the tear off slip that is attached to her companys dictate form. Since there is no further discourse from Betty, this would be deemed to be the final agreement between the two parties with Able having consented to Bettys terms. A valid contract between two parties may be said to exist only when the parties assent to the same thing in the same sense, and their minds meet as to all terms.2 Able was free to reject Bettys counter offer, since a counter offer in effect, frees the offerer Able from any liability.3 But he signed on Bettys order form, which means he has accepted the terms of Bettys counter offer and the original offer has been rejected.However, this raises the issue of the clause that he has entered in the tear off slip that he has signed, which states that the offer was accepted based on the terms of the original offer. This belies the agreement implied through Abels signature on the tear off slip, because in indicates that Able is still not ready to accede to Bettys terms but is intent on enforcing the original terms.