Contract
law case study
A
contract law includes various kinds of rules and regulations enacted for
enforcing specific promises made about certain conditions. In a contract, each
of the parties has certain obligations to be followed. The agreements between
the parties are entered daily about specific requirements. Once a deal is made
between the parties, it is legally binding on both the parties taken into
consideration. When the parties enter into a contract, they need to follow the
terms and conditions of the agreement. Understanding the terms and conditions
help the parties to achieve desired goals regarding the deal.
Formation
of Contract
There
are certain conditions taken into account about the establishment of a
contract. The parties to the agreement need to follow the terms and conditions
as it helps in performing the activities regarding the deal well.
- Agreement: The first step
regarding setting up a valid contract is to set up an agreement regarding
the deal. For binding on the parties to the contract, the agreement should
be framed between the parties. The parties to the agreement must consent
to the protocol for avoiding any confusion later on.
- Consideration: The second
criterion regarding the contract is a consideration. Consideration is
essential for the deal to be legally binding on the parties to the
agreement.
- Creation of legal relations:
The parties to the contract should make sure that their objective is to
create legal connections among themselves.
- Capacity: The parties to the
contract in this situation should have the capacity to contract with each
other. By the ability to contract, it means that the parties to the
agreement have attained majority. The parties should be legally eligible
to move forward with the contract.
- Formalities: In the contract,
all the necessary formalities should be carried out, and based on the
ceremonies; the entire agreement is going to be performed.
Method
of Solving Contract Law Case Study
- The first step in solving the contract
law case study is the step of reading and thoroughly examining the case.
While reading and carefully reviewing the evidence, the fundamental
problems are also identified.
- The second step is to have
focus on the analysis. There can be a few critical problems regarding the
case study. The issues related to the case shall be identified, and
accordingly, decisions will be made.
- The third step is to identify
specific possible solutions for initiating the activities to be performed
regarding the contract case.
- The fourth step is the
selection of the best solution, which would help in solving the contract
related problem.
Process
of Analysis of Contract
For analyzing a contract, a particular process has to be
followed. With the help of identification of the agreement, it becomes easier
for the readers of the contract to find out better ways of doing the things.
There are a few steps and procedures to be followed about the analysis of the
agreement. The measures include facts, issues, rules, analysis, and conclusion.
This entire process helps in doing a detailed analysis of the contract. With
in-depth analysis, it becomes easier to work out the tasks well and effectively
achieve the goals.
- Facts: The first step in the
contract is the identification of the events. The effects include the
parties to the agreement, details of the contract, and reasons for
conflict between the parties. These factors help in doing an overview of
the contract and help in making better decisions regarding the contract
analysis properly.
- Issue: The next step is the
identification of the item under consideration. While finding out the
problem, the reason for the dispute between the parties shall be taken
into account. Here, the decisions are to be made based on the
issues.
- Rules: For every category of
contract, there are specific rules required to be followed. The
regulations include the laws framed about the case. On considering the
law, it also becomes easier to find out the solution to the matter under
consideration.
- Analysis: Once rules are
identified, the entire case is analyzed based on the laws and regulations
set up. Overall, the case helps in making sure that the tasks are
performed well, and the analysis helps in finding out the solution to the
issues underhand.
- Conclusion: Finally, the
decision to the case is made with the help of identification of
termination. When the outcome is identified, the result of the matter is
determined. With the help of determination of the case, it becomes easier
for the readers to find out the things which happened in the case under
consideration.
Sample
Case Study
In
one of the cases, the contract was carried out between two parties. One party
to the agreement was the organizer of the show and the second party to the deal
was the singer. The organizer and singer agreed on performing the show on a
given date. The show was organized, but the singer did not turn up. Both
parties had agreed that they would follow the terms and conditions of the
contract, but, the singer failed to follow the same. In the agreement, there
were provisions for damages to be paid by either of the parties wherein; the
contract was not performed by the parties. Here, the singer is at default as he
has not completed the agreement properly. He should have followed the terms and
conditions of the contract and made sure that he reaches the place where the
show was going on. Here, the terms and conditions of the agreement must be laid
down appropriately. With the help of proper decision making regarding terms and
conditions of the contract, none of the parties shall be at a loss in case the
deal is not performed correctly. The provisions of damages help parties to have
compensation for the loss at the time when the contract is not completed. Here,
also, the requirements for damage were present, and the provisions lead to
providing help to the organizer of the show.
USA 
India