Clarification of rules of acceptance in making business contracts

Business firms and Business corporations enter into thousands of contracts everyday. Making a formal and written contract is very important for business corporations and firms although oral contracts are accepted and recognized by law. There are certain rules on making a valid formal contract. If...

Full description

Saved in:
Bibliographic Details
Main Author: Jalil, Md Abdul
Format: Article
Language:English
Published: Canadian Center of Science and Education 2011
Subjects:
Online Access:http://irep.iium.edu.my/3296/1/Rules_of_Acceptance_Business_Contracts.pdf
http://irep.iium.edu.my/3296/
http://www.ccsenet.org/jpl
Tags: Add Tag
No Tags, Be the first to tag this record!
Institution: Universiti Islam Antarabangsa Malaysia
Language: English
id my.iium.irep.3296
record_format dspace
spelling my.iium.irep.32962011-09-28T07:34:35Z http://irep.iium.edu.my/3296/ Clarification of rules of acceptance in making business contracts Jalil, Md Abdul K Law (General) Business firms and Business corporations enter into thousands of contracts everyday. Making a formal and written contract is very important for business corporations and firms although oral contracts are accepted and recognized by law. There are certain rules on making a valid formal contract. If the business firms do not have knowledge of those contract formation rules and they make contracts in ignorance of those rules, their contracts would be liable to be declared as null and void by the court of law if it is referred to it to determine its validity or to get a remedy for breach of contracts by one of the parties in the contract. In this paper I have not discussed all the elements of a valid contract. I have discussed only one of the fundamental elements of a valid contract that is ‘acceptance’. In a business contract, there must have be an ‘offer’ and an ‘acceptance’, to make a valid contract, if not the contract will not be valid, recognized and enforceable in the court of law. The objective of this paper is to clarify the rules of making a valid ‘acceptance’ which may lead to making a binding contract between the parties. Canadian Center of Science and Education 2011-03 Article REM application/pdf en http://irep.iium.edu.my/3296/1/Rules_of_Acceptance_Business_Contracts.pdf Jalil, Md Abdul (2011) Clarification of rules of acceptance in making business contracts. Journal of Politics and Law, 4 (1). pp. 109-122. ISSN 1913-9055 (O), 1913-9047 (P) http://www.ccsenet.org/jpl
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic K Law (General)
spellingShingle K Law (General)
Jalil, Md Abdul
Clarification of rules of acceptance in making business contracts
description Business firms and Business corporations enter into thousands of contracts everyday. Making a formal and written contract is very important for business corporations and firms although oral contracts are accepted and recognized by law. There are certain rules on making a valid formal contract. If the business firms do not have knowledge of those contract formation rules and they make contracts in ignorance of those rules, their contracts would be liable to be declared as null and void by the court of law if it is referred to it to determine its validity or to get a remedy for breach of contracts by one of the parties in the contract. In this paper I have not discussed all the elements of a valid contract. I have discussed only one of the fundamental elements of a valid contract that is ‘acceptance’. In a business contract, there must have be an ‘offer’ and an ‘acceptance’, to make a valid contract, if not the contract will not be valid, recognized and enforceable in the court of law. The objective of this paper is to clarify the rules of making a valid ‘acceptance’ which may lead to making a binding contract between the parties.
format Article
author Jalil, Md Abdul
author_facet Jalil, Md Abdul
author_sort Jalil, Md Abdul
title Clarification of rules of acceptance in making business contracts
title_short Clarification of rules of acceptance in making business contracts
title_full Clarification of rules of acceptance in making business contracts
title_fullStr Clarification of rules of acceptance in making business contracts
title_full_unstemmed Clarification of rules of acceptance in making business contracts
title_sort clarification of rules of acceptance in making business contracts
publisher Canadian Center of Science and Education
publishDate 2011
url http://irep.iium.edu.my/3296/1/Rules_of_Acceptance_Business_Contracts.pdf
http://irep.iium.edu.my/3296/
http://www.ccsenet.org/jpl
_version_ 1643605115450425344