Contract law Essay Example | Topics and Well Written Essays - 2500 words

Contract law - Essay ExampleLastly, an advice will be get outn to the aggrieved parties, in this case Backstreet Boyos and Basils Bistro, based on the available legal redress mechanisms. Analysis of whether sea captain Melbray v the Backstreet Boyos and Basils Bistro was a legally binding agreement The separate agreements, between Lord Melbray and the Backstreet Boyos for entertainment appearance on one hand, and that with the Basils Bistro for provision of lunches on the other hand, can be classified as legal contracts. This is because a contract refers to an agreement that is entered by two individuals or parties voluntarily, with an objective to create a legal obligation for the performance of the agreement1. Lord Melbray approached the Backstreet Boyos and Basils Bistro for provision of their respective services during the wedding of his daughter, and the two parties willingly and voluntarily agreed to volunteer their services. Therefore, the first fundamental requirement for a legally binding agreement was met, since mutual consent acted as the basis of all the parties entering into the contract in question. A case in point is the case Balfour v Balfour 2 KB 57119191, the husband, Mr. Balfour promised to be sending his wife $30 every month afterward the started living apart, but later rescinded the decision and asked that they separate. The wife sued for the continuous payment of the promised monthly payment, but the court held that since it was a voluntary move by the husband, in a domestic issue, the continued payment was unenforceable, since there was not any intention to make a legally binding agreement1. This step is followed by the valuation of whether the necessary elements of a legally binding contract were present in the agreement made. For a contract to be considered legally binding there requires macrocosm two basic elements, namely offer, acceptance, and consideration2. The provisions of the law of contract requires that the parties invo lved must agree on the contractual terms, through a meeting of the minds, without any party giving a diversionary view regarding the contractual terms, which would amount to a counter offer2. A case in example is the Smith v Hughes LR 6 QB 597 1871, where the ruling held that should the conduct of an individual be that he is acting in a way that a reasonable will would believe that he was assenting to the terms proposed by the other party, then, the man would be bound as though he had intended to fulfill the agreement2. In the case Lord Melbray v the Backstreet Boyos and Basils Bistro, the parties involved agreed on the terms of the service, where Lord Melbray was to pay both the Backstreet Boyos and Basils Bistro for provision of their respective services, eon the parties agreed to these terms, without varying the terms of the agreement. In this case, Lord Melbray made an offer, while the Backstreet Boyos and Basils Bistro accepted the offer as given. Consideration is yet another( prenominal) necessary element for an agreement to qualify as a legally binding agreement3. A consideration refers to something of value that the party making a promise, the promissor, should give to the promisee, in