THE LAW OF CONTRACT

      THE LAW OF CONTRACT 

The Word “Contract” means an agreement between two or more parties in legal parlance, which both parties expressly or by reasonable intend to have consequences or enforceable at the law.

An agreement by itself only needs the free and voluntary consents of the two parties. Agreement as used in our society tends to the consent of two or more parties reduced in to writing signed by the to relate with each other could take any form, it could be oral written. Intact sometimes the law prescribes the manner in which a particular agreement could be made.`

TYPE OF CONTRACT

Contracts, called by any name are made only in two ways. Either oral or writing. Contracts in writing are subdivided into four “4” ways.

1)    Contracts which must be deed

2)    Special contracts

3)    Contract which must be in writing

4)    Contracts which are unenforceable by action unless evidenced in writing.

ESSENTIAL REQUIREMENTS A VALID CONNTRACT.

The essential requirement of a valid contract are as follows:

1.    Offer

2.    Acceptance

3.    Consideration

4.    Intention to create legal relations.

INTRODUCTION TO BUSINESS LAW

                                                   INTRODUCTION TO BUSINESS LAW                                                         The business law enable us to know the rules and regulation guide the business activities. If you know these rules, it will enable you to be carry out the business activities.Generally speaking, Law can be say as the rules that society enforced to ensure its survival and smooth functioning. Also, its can be referred to the as the rules and regulations that governed the societies.
        Business Law should be noted that without rules and regulation, that society would have looked like a real jungle. the art of buying and selling is the aspect of business law. Business law is essentially nature of contract i.e in agreement form. The elements of Agency are introduced when a person contracts through another person. In carrying on the business two or three people may have come together to trade as a body without forming any company.When many parties come together, they sometimes make provision for possible disagreement, or differences of which the provision is always made for arbitration and award.
        The fact that payment could be made by cheques or promissory notes or bill of exchange calls to pay the issues of their negotiable instrument.
  
                                                                   THE LAW CONTRACT
          The word "Contract" in the way means an agreement between two or three parties of which the both parties expressly intend  to have legal consequences and enforceable at the law.
           An agreement, its only need the free voluntary consent of both parties.