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Showing posts from April, 2023

RAC LAW BLOG™ - Available Remedies for Breach of Contract

  This article focuses on the remedies available in English Courts where a breach of contract occurs.  A breach of contract occurs when a party fails to fulfill the terms of a contract to which they previously agreed without lawful excuse.  In order to access the remedies available the affected party must satisfy the following : There is a valid existing contract Failure of performance of the contract  The innocent party has sustained injuries as a result of the breach  Remedies for Breach of Contract The primary remedies for breach of contract are:  1.  Damages ; 2.  Specific Performance ; 3.  Rescission 1. Damages Where a contract has been breached, the 'innocent' party ( innocent party meaning the person who has been negatively affected by the breach) has a right to damages as a form of remedy.  In instances where loss cannot be proved, nominal damages may be claimed.  The court is particularly interested in seeing that the claim...

RAC Law Blog™ - Introduction to the Laws on Contract

This article will focus on the elements which form a valid contract. The aim of this article is to give readers a deeper understanding of what constitutes a contract by exploring case law and its application.  What Constitutes a Contract? A contract is an agreement with specific terms between parties, creating mutual obligations that are enforceable by law. In order for a contract to be enforceable by law, it must be mutually agreed upon, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.  The agreement can be either oral or written between two or more parties which creates a legal obligation.  It is well established in English Law that a basic contract must comprise four key components: - Offer -Acceptance -Consideration -Intention to create legal relations To further explain -  - An Offer  is a promise to do something or refrain from doing something in exchange for something else.  An offer must contain some essenti...