Law of Contracts and Negligent Misstatement-Third Party Reliance

$48.00

see the details below

Order Now

Description

Law of Contracts and Negligent Misstatement-Third Party Reliance

Law of Contracts and Negligent Misstatement-Third Party Reliance

ANSWER


A contract is a legally enforced agreement between two or more parties which have common mutual obligation.[1] The consequences for the breach of contract are most of the times monetary compensations or damages which can be in the form of an injunction or specific performance of the contract. The main issue in this case is about whether Michael is bound by his buying contract from Trevor. In order to determine whether there is a contract between the two parties, we must satisfy four prerequisites in the formation of contract which are offer, acceptance, consideration and intention.