Law of Obligations Essay Example | Topics and Well Written Essays - 2500 words

Law of Obligations - Essay ExampleIn this regard, an convolution is terminated if it is non accepted within a reasonable time.4 An run can be secluded at any time prior to its acceptance, although withdrawal must be communicated to the offeree.5 However, if the subject matter of the offer is sold prior to its acceptance, the acceptance is not valid because an offer cannot be accepted for the purchase of shoes that has already passed from the offerer to other.6However, present-day(a) Caravan did not sell the motor home, although it claimed to have sold the keeping prior to receiving the acceptance from exalted Homes. Nevertheless, an offer and acceptance will not forge a licitly binding contract unless there is consideration.7 Since there was no consideration, there is no binding contract and Ideal Homes cannot force Contemporary Caravan to sell the motor home to them. Nathan Nobel The communication surrounded by Nathan Nobel and Contemporary Caravans indicates a request fo r information and a response to that request. There was no definitive offer and acceptance communicated between the parties. Nobel simply asked for the lowest cash price applicable to the luxury motor home and Contemporary Caravans responded. cypher more was said, and thus Contemporary Caravans had no reason to assume that the stated lowest cash price was accepted by Nathan Nobel. There must be some indication that there was an intention to form legal relations. A mere inquiry as to price will not be adapted to substantiate that there was an intention to create legal relations on the part of Nobel.8 Moreover, assuming that Contemporary Caravans made an offer in its response to Nobels inquiry, Nobel failed to indicate one way or another that he accepted or rejected the... This essay discusses that In light of the fact that the mod arrangements were ongoing for 8 months, rightfulness On had a legitimate expectation that these arrangements would continue for the full 12 months. Si nce Right On had a legitimate expectation that the new arrangements would continue for a year and acted accordingly, it would be below the belt for Contemporary Caravans to withdraw their promise. Since the arrangements were ongoing for 8 months, Right On had a reasonable expectation that the new arrangements were genuine or honest and nature and would continue as promised by Contemporary Caravans.Since there was a consideration in the sense that the new arrangements provide for a new method of discharging the loans, Right On can bring an action against Contemporary Caravans for breach of contract or anticipatory breach. In the latter(prenominal) case, Right On may if it likes, apply to the courts for injunctive relief prohibiting Contemporary Caravans reneging on the new arrangements.Whether or not there was a consideration, is immaterial because the doctrine of promissory estoppel can be invoked to prevent Contemporary Caravans mending the terms of the new arrangements unilatera lly. It is therefore suggested that Contemporary Caravans continue to keep its promise and to allow Right On to continue to make the reduced payments until the 12 month period expires. Since no reasons are given for the craving to back out of the promise and the new arrangements it is likely that a court would find that Contemporary Caravans were not acting in good faith.