Running head : PROPERTY LAW AND CONTRACTSIntroductionContract uprightness refers to that off roundabout of law that deals with slim downs . A wad is defined as a sanctionedly binding agreement between persons aimed at enforcing the consummation of implied or explicit terms as set place in the contract . Some of the basic elements of a contract include argon that the parties to the contract moldiness be take a shit about what they ar contract about . Secondly they must be an offer and an espousal . In addition to that , the parties must pose the consideration for writ of execution the contract and also specify that they intend that they to enter into a legal relationship as opposed to a favourable promise (Atiyah , 1986 . Parties to a contract must have legal capacity to establish a contract otherwise it lead be void ed on the footing that the consenting parties were not legal to enact oneWhen transgress of contracts occurs , the law provides for certain remedies to the aggrieved party .
such(pre nominal phrase) remedies include damages which are divided into compensatory , exemplary , nominal and punitive damages . another(prenominal) remedy is specific performance which forces the breaching party to fulfill their obligations nether the contract . Courts award this remedy to parties that are likely to converge from breach of contract in a bid to indemnify them to their former position before the breach occurredUnder certai n mountain , specific performance can be fr! ustrated by existing conditions and as a meaning the courts deem it break down to award damages or else despite the aggrieved party being...If you penury to get a upright essay, order it on our website: OrderCustomPaper.com
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