Contract Law

Business and Company Law Coursework Assignment Problem


Agreements have four essential formalities that must be fulfilled in order to create a binding contract, these being offer, acceptance, consideration (it would appear that all the deals have consideration as bargaining has taken place in each of them) and intention. In the case of Wajid and his mobile phone, each of these factors must be investigated in order to come to an accurate conclusion of whether or not he does have a binding contract with any of the companies in question.
First, in the case of Telecom, it is necessary to consider whether there has in fact been a binding contractual agreement, looking at offer and acceptance. An offer is the expression of the intention to be potentially bound on certain circumstances made by the offeror (the person who makes the offer), Telecom. This appears to be the case with the Telecom statement that, ‘ unless we hear from you otherwise, we will renew your contract automati...