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Principles of the English Law of Contract
Principles of the English Law of Contract Author:William Reynell Anson Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: PART II. THE FORMATION OF CONTRACT. Elements necessary to a valid contract. Results of their absence. Ng ascertained the particular features of contr... more »act as a juristic conception, the next step is to ascertain how contracts are made. A part of the definition of contract is that it is an agreement enforceable at law: it follows therefore that we must try to analyze the elements of a contract such as the law of England will hold to be binding between the parties to it. These elements appear to consist:— 1. In a distinct communication by the parties to one another of their intention; in other words, in Proposal and Acceptance. 2. In the possession of one or other of those marks which the law requires in order that an agreement may affect the legal relations of the parties. These marks are Form, and Consideration. 3. In the Capacity of the parties to make a valid contract. 4. In the Genuineness of the consent expressed in Proposal and Acceptance. 5. In the Legality of the objects which the contract proposes to effect. Where all these elements co-exist, a valid Contract is the result: where any one of them is absent, the agreement is in some cases merely unenforceable, in some voidable at the option of one of the parties, in some absolutely void. CHAPTER I. Proposal and Acceptance. Every expression of a common intention arrived at by Agreement two or more parties is ultimately reducible to question and nate jn pro. answer. In speculative matters this would take the form, Posal and ,. . acceptance. 'Do you think so and so?' 'I do.' In practical matters and for the purpose of creating obligations it may be represented as, ' Will you do so and so V ' I will.' If A and X agree that 4 shall purchase from X a property worth £50,000, we can trac...« less