Contract In Depth

A contract is a legal document which may be enforceable by legal action or by binding arbitration. In order for this to be true, however, the contract agreement must meet several important requirements.

There must be a compensatory remedy for the contract under which the party which defaults is required to pay monetary compensation that would have otherwise been provided had the contract agreement been upheld, or an equitable remedy, which can also be called Specific Performance. The equitable remedy, or specific performance, compels an individual who enters into a contract agreement to carry out the action against which they have attempted to renege on their obligation.

In order for a contract to be valid, the contract must involve unqualified, or “mirror”, acceptance. In order for a contract agreement to be valid, all parties must have the capacity to contract, and the terms of the contract cannot be trifling, indeterminate, or impossible. In the eyes of the law, a contract cannot be entered into to compel illegal action.

Although a contract is usually written in order to compel action, a contract agreement can also be created which will prevent a person from performing an act which they have the legal capacity to perform.

If a contract agreement is breached, legal remedies may be provided to address that breach.

Contract law, the legal field that specializes in the legal disposition of contracts and contract agreements, generally adheres to the Latin motto “pacta sunt servana,” meaning “pacts [agreements] must be kept.”

Read This Before Entering Into A Quasi Contract

What is a Quasi Contract?

A quasi-contract is a fictional contract that was created by courts to promote equitable treatment. As a result of this definition, a quasi-contract is not an actual, legally-binding document, but instead a legal substitute for a contract that is formed to impose equity between two distinct parties.

The basic concept of a quasi-contract is that a contractual agreement should have been formed in situations where such an agreement was not realized. The quasi-contract is thus used when a court system feels as though it is appropriate to create an obligation to avoid an injustice and to promote equality between two parties.

In most cases, the actual existence of a real contract is required for a defendant to be held liable for services rendered; however, in many jurisdictions throughout the United States, under certain circumstances, a plaintiff may be entitled to seek restitution under a quasi-contract.

Basic Elements of a Quasi Contract:

The basic elements of a quasi-contract require three fundamental principles. The first element is that the plaintiff furnished valuable goods or required specific services to be rendered with a reasonable expectation of being compensated if the defendant breached or failed to meet these expectations. Secondly, the defendant must knowingly have accepted the aforementioned goods and obtained a direct benefit through this acceptance.

And lastly, the defendant must receive benefits by the goods or services that are regarded as unfair in situations where the plaintiff received no compensation.

In a standard, legally-binding contract, both parties agree to the stipulations of the deal and the surrounding subject matter, to affirm the agreement and to make the contract binding, the parties enter into an oral or written agreement prior to exchange of goods or services.

In a quasi-contract; however, one of the parties does not intend to enter the contract. Even though mutual assent is not achieved, the court can decide to create a contract to promote fairness between the two parties.

In most instances, a quasi-contract is created when disputes over payments of goods or services arise between two parties. When these situations arise, the remedy for a quasi-contract is typically limited to whatever is necessary to prevent the presence of unjust enrichment obtained by one of the parties.

This typically means, in regards to the creation of a quasi-contract, that damages are restricted to the cost of the plaintiff’s materials and labor. In these situations, profits are excluded on the grounds that it is unfair for a party who did not want to enter a contract to pay the profits to the other party.

All You Need to Know About the Roman Law

What is Roman law?

Roman law was the formal legal system of ancient Rome; Roman law accounts for the legal developments that occurred before the seventh century AD. During this period, the Roman-Byzantine state adopted Greek as the official language for the governing bodies of the land.

The development of Roman law took more than a thousand years of jurisprudence, for it evolved from the Twelve Tables to the Corpus Juris Civilis, which was ordered by Justinian 1.

The Justinian Code, a formal Roman law that arose from the aforementioned jurisprudence, served as the basis for legal procedure throughout continental Europe, Ethiopia and the majority of former colonies of European nations.

Development of Roman law:

Before the Twelve Tables were formulated, private law in Rome was comprised of civil law and was applied only to Roman citizens. The earliest formation of Roman law was bonded to religion with distinct attributes related to formalism, conservatism and symbolism. This foundation of a legal field was predominantly governed by the ruling king; the majority of citizens lacked fixed rights under this framework.

The first formal text of Roman law was developed through the Law of the Twelve Tables. The Law of Twelve Tables was created in the middle of the fifth century BC; TerentiliusArsa, a plebian tribune, proposed that Roman law should be affirmed in writing, to prevent magistrates from applying arbitrary laws.

After years of political struggle, the plebian class convinced the patricians to form a delegation and meet in Athens, to affirm the laws of Solon through written documentation. In 451 BC, ten Roman citizens were chosen to record the laws; during this process, the men were given supreme political power—a transferring of power that ultimately restricted the authority of the magistrates.

In 450 BC, the decemviriproduced laws on ten tablets; however, these laws were regarded as a meager attempt by the plebians. A second decemvirate then added two additional tablets in 449 BC; this new law, the Law of the Twelve Tablets, was subsequently approved by the people’s assembly.

Early Roman law:

Following the creation of the 12 tablets, Roman law began to formulate itself into the ruling framework over the land. Many laws of the 12 tablets ultimately created a modernized society that effectively managed the behaviors of citizens through the institution of an affirmed legal code.

Early Roman law consisted of numerous laws that ultimately formed a balanced society; for instance, laws were created to allow the marriage between plebeians and patricians—a fundamental law that effectively agglomerated society through the destruction of social barriers. Another important statute of early Roman law is regarded as the root for modern tort law; LexAquilla, the name of the statute, provided compensation to the owners of property that was injured by another citizens’ fault or negligent actions.

Arguably the most important contribution that early Roman law possessed was not the enactment of statutes, but the emergence of a class of jurists and the creation of a legal science.

Promissory Estoppel Overview

What is Promissory Estoppel?

In a general sense, Promissory Estoppel is a legal doctrine used in American law, which allows a party to recover on a promise, even if the promise was made without a formal consideration. In essence, a Promissory Estoppel prevents an individual from arguing that an underlying promise offered should not be upheld.

In addition, a Promissory Estoppel requires that a reliance on the promise was deemed reasonable and that the individual attempting to enforce the promise actually relied on the promise to his or her detriment. As is common with numerous forms of legality issues, the precise legal requirements needed to enact Promissory Estoppel may vary between jurisdictions within the United States.

A common example of Promissory Estoppel is where an employer offers an oral promise to pay an employee a monthly amount for the remainder of the individual’s retirement. If the employee relies on the promise and subsequently retires, the employer will likely be estopped, based on the principle of a promissory estoppel, from reneging on this promise to offer the monthly retirement payment.

Laws surrounding a Promissory Estoppel:

In a typical case of a promise or a contract, the law requires that a party receive consideration for the agreement. Consideration refers to a valuable asset that is exchanged between the two parties and the time of the agreement or the promise was made. Consideration can take the form of an asset, the exchange of monies, or the promise to refrain from doing something. Regardless of the form of consideration required in a contract, a consideration is needed in order to make an agreement or promise legally enforceable.

That being said, because the court system aims to achieve fairness, a legal forum will apply the doctrine of promissory estoppel in situations where a consideration is made. Even if an enforceable contract is not generated, the law may enforce the promise if a reasonable reliance and detriment are proven.

Differences between the Promissory Estoppel Doctrine and the Doctrine of Estoppel:

A promissory estoppel relies on a promise, while the doctrine of estoppel relies on a statement of fact. As a result of this foundational difference, the two doctrines complicate contractual agreements or the statement of a promise. Even if an agreement is not based on a formal consideration and even if promissory estoppel is not enforceable, because the situation did not include a promise, a court system can still enforce the “agreement” as a means to promote fairness.

This somewhat loose interpretation of promissory estoppel enables the court to impose obligations on the parties through the delivery of a quasi-contract—a doctrine that implied in law.

Quick and Easy Contract Law Cases

Contract law cases can be classified under the general law of obligations. The general category of the Law of Obligations includes Torts Law, Unjust Enrichment Law, and Restitution Law, besides Contracts Law.

One of the most famous contract law cases is the case of Carlill v. Carbolic Smoke Ball Company. Although this case of contracts law is included in English contract law cases, the relevant principles of contracts law in the English system were adapted to the American courts.

Carlill v. Carbolic Smoke Ball Company is one of the most famous contract law cases since it involved a manufacturer who offered a flu remedy called a “carbolic smoke ball.” The makers of the smoke ball, the Carbolic Smoke Ball Company, advertised in a newspaper that buyers who developed the flu despite using the smoke ball properly would be given 100 Pounds as a refund.

The Company claimed that the advertisement was not a serious offer, but the judges in the case ruled that because there was a statement from the company that they had deposited money in an account so that they would be able to make the payments if there were any claims, a reasonable person had cause to believe that there was a sincere offer, thus meeting the requirement that there be an offer and acceptance to form a contract.

Understand Your Rights As An Employee

What are Employee Rights?

Employee rights are the personal freedoms and privileges given to individuals who work in the United States, as well as other developed nations. Employee rights are affirmed through employment laws; in a general sense, employee rights are awarded to working individuals to protect their interests and safety in the workplace.

The most basic and fundamental employee rights will offer the working individual the right to time off work, to contribute work without harassment, and the right to receive minimum as well as overtime pay. Those individuals who work and who do not receive such employee rights possess the ability to file lawsuits against their respective employers. If found guilty of violating these basic employee rights, the underlying employer will be forced to provide the respective employee with monetary compensation and punitive damages.

Employee rights take the form of both state and federal laws; each individual state posts its own minimum wage scale that must abide by the federal scale enacted by the United States government. Employee rights regarding overtime, although up to the discretion of the particular employer, must also meet the federal guidelines instituted by the United States government.

All employees, except for those exempt such as salaried supervisors, are entitled to compensation for hours worked beyond the hours required in the individual’s particular employment contract.

Minimum Wage:

Another fundamental employee right is the right to earn a minimum wage. It is illegal, based on employee rights and coordinating employment laws, to pay individuals below the federal and local minimum wage level. No state may pay employers below the national minimum wage right, although the potential for workers in the service industry to collect tips, does enable an employer to pay a wage lower than the national level.

Time off Work:

Employee rights mandate that all employers allow their respective employees to take time off from work. The reasons for requesting time off can include the need for a vacation, family emergencies or medical leave. Regardless of the reason, an employer must satisfy this basic employee right; the amount of time off will vary based on company and the stipulations which elucidate on time off will be documented in the employment contract.

Workplace Rights:

All employees possess the right to enjoy a workplace that is free from harassment. Basic employee rights will protect workers against sexual harassment or harassment fueled by age, race or gender discrimination. If a worker is being harassed, the individual has the right to file claims with an administrative body to initiate the filing of a civil suit.

Using A Contract Termination Letter

A contract termination letter template may be used by a company in order to ensure that they terminate any contract in which they are currently in a method that will completely avoid further complications which can cause further disputes.

A contract termination letter template can be created to create an employment contract termination letter, a business contract termination letter, or a construction contract termination letter. These three contract termination letter types are the most common, which means that one of these three contract termination letter templates is most likely to be encountered or needed.

The essential elements to include in a contract termination letter are the names and specifications that can be used to identify the party to the contract who is receiving the contract termination letter. The contract termination letter should contain an opportunity to refer to the terms and conditions that were present in the original contract that empowers the party to terminate the contract.

If the contract termination letter involves a contract that requires the party breaking to contract to provide monetary compensation for breaking the contract, it is essential that the contract termination letter mentions how the payment will be provided.

A contract termination letter must include the code under which the individual gains the authorization to terminate the contract. This restriction primarily applies to a contract termination letter provided by a company to an employee.

A contract termination letter should be completely professional.

The Secret of Offer and Acceptance

The underlying philosophical approach to contract law is pacta
sunt servanda. Pacta sunt servanda is a Latin phrase that
can be literally translated as “Pacts must be kept,” but is more commonly and
colloquially translated to mean “agreements are to be kept.” This phrase is the
essential theory behind contract law. However, pacta sunt servanda only
applies if the contract that is formed is a legally valid one.

One of the most essential
aspects used to determine if a contract is valid or not is if there is a
legally recognized offer and acceptance. The focus on offer and acceptance is
the traditional approach to analyzing whether an agreement is present between
the two parties who are in a contract dispute.

When measuring whether there is
a sufficient agreement between the two parties, there must be an offer and
acceptance. The offer is the terms that are presented to the “offeree” by the
“offeror”. In order for a contract to be formed, the offer must be accepted
unconditionally.

If the initial “offeree” makes any changes to the terms
presented to them by the offeror, then there cannot be offer and acceptance at
that point, for the individuals have immediately swapped position. This new
offer, and acceptance of the new terms, may result in agreement, however. The
difference is largely technical, and only becomes an issue if there is a contractual
dispute between the parties.

Important Requirements of Contract Law You Must Know

Contract law is the branch of law which addresses the rights and obligations which legally bind parties together. Contract law is legally enforced as a type of contract which is a certain agreement in which two or more parties agree on

specific terms. Contract law is based off of the Latin phrase “pacta sunt servanda”, which means agreements to be kept.

Contract law is regulated and enforced by the court system. Contract laws consist of the protection and regulation of: trusts, wills, loans, and work contracts.

If a person breaks a contract it is known as a breach of contract and the person can be penalized for breaking a contract law. Generally, for a contract to be accepted in contract law, it must consist of certain requirements. Some requirements include:

Consent to contract;

Intention to create a legal relationship;

Lawfulness of purpose; and

Mutual agreement and acceptance of the contact.

Deed Poll

A deed poll is a type of legal document that only involves a single person or party, and which states a particular intention that such a person is bound to by the document itself. A deed poll itself is not a contract due to the fact that only one party is affected by such a legal document and it states only an intention, rather than a guarantee or promise. This kind of document is oftentimes referred to as a deed poll name change because it is very commonly used in order to enact a name change for an individual.

Change name by deed poll is most commonly used in Europe, particularly in England, Ireland, and Northern Ireland. Other nations such as Hong Kong and New Zealand also use the deed poll name change.

Typically speaking, to change name by deed poll will require that a person complete a form, which must be signed by a witness. The form is then filed with the appropriate court. In many jurisdictions, deed poll name change may be considered as a legal name change, though change name by deed poll may not necessarily change a person’s name on the birth certificate.

Therefore, in the case that a passport is to be obtained, for instance, both the birth certificate and the change name by deed poll document will need to be furnished in order to complete the passport requirements.

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Contract In Depth

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Promissory Estoppel Overview

Quick and Easy Contract Law Cases

Understand Your Rights As An Employee

Using A Contract Termination Letter

The Secret of Offer and Acceptance

Important Requirements of Contract Law You Must Know

Deed Poll

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