Let the Buyer Beware

The common law principle Caveat Emptor (Latin for ‘let the buyer beware‘) stated that a buyer could not claim damages for defects which made goods or services unfit for purpose, unless the seller has actively concealed these defects. In other words, the buyer had no warranty as to quality: they had to take responsibility for … More Let the Buyer Beware

The Element of ‘Acceptance’ in a Legally Binding Agreement

There are certain specific requirements that must exist in order for a Contract to be legally binding. One party (the offeror) makes an offer, the first element, which is a clear and definite proposal that requires no further negotiations and can be turned into an agreement simply by acceptance, the second element. Acceptance = An unconditional … More The Element of ‘Acceptance’ in a Legally Binding Agreement

The Element of ‘Offer’ in a Legally Binding Agreement

There are certain specific requirements that must exist in order for a Contract to be legally binding. One party (the offeror) makes a clear and definite proposal that requires no further negotiations and can be turned into an agreement simply by acceptance, this is an offer, the first element. Made expressly – spoken or in … More The Element of ‘Offer’ in a Legally Binding Agreement