Secret principles you don't know about Contract - Part 3

It’s the Mini-Law-Series and we will continue with our discourse on the feature tagged: “Secret principles you don't know about contract”📚🎲📚

As usual, this discourse is limited to basic knowledge of law and in view of the nature of this platform, legal terminologies will be used sparingly.👏Please recall, that we have discussed the meaning of contract, its element and basic must know principles, please click on the link below if you missed it.
https://m.facebook.com/story.php?story_fbid=547989395974372&id=100022899504084

Friends, what happens when a call is made vide Newspaper publications, jingles on media etc.,for interested persons (contractors) to submit their bids (proposals) etc., in furtherance of a specific project?🤔💁🤔

Here is another one, what happens where a person in honour of the invite submits the bid or proposal as the case may be?💁🤔💁

I bet you don’t know the answers to the posers raised above?😀 Generally, such a call to submit bids, proposals etc., is known as INVITATION TO TREAT.🍔🍟🍉🍇🍞🍿

While the submission of the bid I.e. the response to the invitation to treat is termed offer, on the
other hand, an assent that the offer is good and the project can be executed is called Acceptance. 👌

This takes us to the 2nd element of a valid contract; 🏃

ACCEPTANCE AS THE 2ND ELEMENT OF A VALID CONTRACT

Acceptance simply means saying yes to an offer.👌The yes must not be qualified or dependent on certain identified or unidentified terms.

Immediately an offer is accepted, rights, duties and responsibilities emerge, such that a person will not be allowed to renege on an accepted offer without incurring some form of monetary liability(ies) or said differently, without paying damages.💰💴💶💰

Before accepting an offer or saying yes to that deal, bargain etc., it is prudent to have a legal practitioner peruse the Contract. After all, we say in public parlance that "the more you look the less you see."

A scenario will help;👇👇
Accepting an offer is likened to getting on a flight,🛩🛫🛬once the plane takes off ,there is no getting off, you are stuck in the plane with the bad weather and/or a "farting" seat mate. Let me make it more dramatic; imagine your seat mate to be a talkactive with bad breath, you are stuck!👿😈

The flight scenario above is true of contract, and reinforces the effect of acceptance:

👉the plane is the contract,
👉the call to board is the offer
👉Boarding the plane is the acceptance
👉The bad weather and dramatic seat mate are the terms of the contract.

To avoid the scenario above, it is essential to scrutinize a contract before acceptance. Once it is accepted, a party is bound by all terms therein.

INTENTION TO CREATE LEGAL RELATIONS AS THE 3RD ELEMENT OF A VALID CONTRACT.

This is the parties' innermost desire that the law holds them accountable, for the offer and corresponding acceptance made by parties respectively.😎😎😎

This definition appears to be a mouthful.🤗🤗

Simply put, it is the conscience of a Contract.👌👌👌

Please recall that we had stated that Contract could be either oral or written, we however advised that it is better to have a written contract.

A spin off, is that where a contract is in writing, the law presumes that parties' intention is to create legal relations or to be bound legally by the contract. 📚🎲📚

Further recall, that we had equally cited examples of contract such as Land Sales Agreement, Contract of Employment, Tenancy Agreement, Joint Venture Agreement, Memorandum of Understanding, Partnership Agreement etc. These examples are no doubt commercial contract and there is a presumption that contracting parties in a commercial contract intends to create legal relations.

Did you know that there is a social and/ or domestic contract?🤔

Yes there is, and these Contracts are peculiar to certain relationships.

Generally, there is no intention to create legal relations in social and/or domestic contract; between husband and wife, between friends etc., 👨‍❤️‍👨👨‍👨‍👦‍👦👫👭to do some sort of favours etc.

Of course there are exceptions to the above I.e. there are instances where agreement between husband and wife, friends etc., will create legal relations with the attendants rights and responsibilities in law. 👇👇👇

Let's remember that intention to create legal relations is the conscience of a contract and like Uthman Dan Fodio said, conscience is an open wound, only truth can heal it!

Next Week on the mini-law-series, we will conclude this feature with the 2 C's of Contract which are Consideration and Capacity respectively.💃💃💃

Please, stay with us, we are bringing more value using the instrument of law🙏🙏🙏

Thank you.

Oluwatosin Ajose Popoola Esq.,
https://www.linkedin.com/in/oluwatosin-ajose-24143910a

For: The Online Law Clinic
onlinelawclinicteam@gmail.com

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Remember that for the sake of confidentiality, questions are to be sent as messages or you may request for the WhatsApp number. Do not forget that we promised to share the designated WhatsApp number of the Online Law Clinic Team, this will be done shortly. 🙌🙌🙌

Our big project reveal is almost here, wait on it!🙏🙏🙏

Lastly, our heart is full of gratitude for the out pour of love on the last discourse we shared on the family-law-series, please click on the link below if you missed it.
https://m.facebook.com/story.php?story_fbid=551724732267505&id=100022899504084