“Discuss the legally binding contract in society, family contract & its characteristics”
Introduction
Contract law discriminates between commercial and non-commercial (typically, family) agreements. According to the principles of intention to be contractually bound, family agreements are presumptively unenforceable. The justifications for impeding enforcement of such agreements are ill-founded and outdated. Modern theories suggest that the distinction between commercial and family agreements cannot be maintained In particular, we employ relational contract theory and behavioral decision theory to investigate the validity of this distinction. We discuss how other areas of law, particularly estoppel and family legislation, recognize the need to enforce family agreements in some situations. We argue that contract law should take a similar approach, and that the intention principles as presently expressed serve no rational purpose.
Traditionally, agreements made in a family context have been seen as belonging to an extremely private sphere which is outside the realm of contract law. We can all recall classic examples of dress allowances, promises to do the washing up and other such trivialities which `demonstrate’ the unsuitability of contract law to enforce family agreements. The assumption of contract law that the parties to family agreement are lack an intention to be contractually bound has been served a formidable gatekeeper role. It is a highly effective default principle which impedes enforcement of family agreements, and performs a powerful symbolic function delineating the realm of law from the realm of the family and the feminine, privileging the former over the latter.
It must be seriously questioned whether this general assumption is sustainable in modern contract law. The last several decades have seen the breakdown of distinctions between the public and the private, and between the market and the family. In other areas of law, agreements made within the family are enforced. The High Court has recently questioned the intrinsic value of the presumptions of intention.
Definition
A legally binding contract is an agreement having a lawful object entered into voluntarily by two or more parties, each of whom intends to create one or more legal obligations between or among them. The elements of a contract are “offer” and “acceptance” by “competent persons” having legal capacity who exchanges “consideration” to create “mutuality of obligation.
Which proves to be done in this letter, nor, indeed, not all the words of the contract is an absolute. The remedy of contract on the other hand can be “a suit,” according to the effectiveness of a reward in the form of money extorted from or injunction. Both of these remedies to make a loss of “benefit of the bargain” or expectation damages, which are superior to the simple reliance damages, as in promissory estoppe, LEGAL parties may be individuals or people. A contract is a legally binding promise or undertaking that something will or will not occur. The word of the same thing he was allowed to use the promise of the contract even if he has faith is necessary for management of the contract is a compact rashly full of dignity.
A contract law varies from jurisdiction to jurisdiction, including differences with respect to the civil law common law, the impact of the law has received, particularly from England, in common law countries, and the law and described in the regional with the law. With regard to contract law in Australia, as are 40 pieces of legislation affecting the interpretation of the contract to the State (federal / national), and a further 26 acts at the level of the state of New South Wales. 6 In addition, international conventions and other instruments, which are suitable for international trade, such as the United Nations Convention on Contracts for the International Sale of Goods (Vienna Sales Convention).[1]
At common law, the elements of a legally binding contract are –
· offer,
· acceptance,
· intention to create legal relations,
· and consideration
Family Contract Characteristics
The family contract has following characteristics-
1. The family contract becomes a written agreement between family members.
2. The family contract includes negotiation between the family members and child.
3. The family contract is written in a way that respects the every members need for independence and choice, and the elder’s right to maintain a stress free environment.
4. Written family contract act as a concrete reminder of the agreements, so the family members need not rely on memory.
5. The process of setting family rules becomes explicit and understood by all family members.
6. The written family contract makes use of productive language. Vague terms, blaming and ultimatums are avoided.
7. The family contract relies on rewards, compliance and cooperation, rather than the use of aversive control strategies such as punishment and coercion.
8. The written contract specifies what behaviors each family member, both parents and child are willing to perform.
9. The written home contract explicitly describes the house rules and agreements, and specifies the rewards and consequences for fulfilling or not fulfilling the contract. Reward for the child’s cooperation is specified.
10. Written family contracts should be developed so that they are easily modified to meet changes in the family.
11. The written family contract becomes a pledge between the parents and child of mutual commitment to work on their relationship.
Importance of contract law on social matters
The system of contract law enables agreements between two or more individuals to be legally binding in a court of law. Nevertheless, the agreement is legally binding; it must be compatible with the essential elements of a legally binding contract, State laws and the law of contracts. In addition, the American Law Institute publishes reprocessing contracts, which are the majority of the rules of contract law adopted by most courts.
Contract law allows the parties to a valid contract to use the courts to enforce the contract. For example, if you paint a house on the basis of a promise to pay someone else to work, the court may apply the other person to pay for the work under the contract. In addition, contract law, judges may use the doctrine of promissory estoppels to enforce a contract that may lack sufficient attention. The judges have the right to use this doctrine when a party to a contract harmful invoked the promise of the other party to do something.
Most trade and interactions on the market based on a theory of contract law. The law provides remedies for contracts where the party does not end with his promise to the other party, these legally binding agreements that occur in the market, to create binding obligations for both parties, Therefore who otherwise great pieces present agreements. That is, apart from law, contract, contract to fulfill the contractual obligations of others, they cannot not fulfilling it.[2]
Important to be able to enter into a contract with one of the faculty of law of each contract, most people, at least he is lawfully impeded, the understanding and the ability to choose to enter into a valid contract[3], therefore, if the items are not up to the inability of the enforceability of the contract. This is an important aspect of contract law, because the law protects certain individuals from being manipulated to contract with these people do not realize the effect of the contract.
Family contract with teenage new driver
Family contracts are effective in defining the expectations and responsibilities. Providing specific rules and restrictions, this removes misunderstanding. Once you have identified the house rules, talk with your teen to complete the contract family. Decide together what the consequences would be if you or your teen breaks the rules. To create a family contract, use and adapt the sample and blank family contracts to set expectations and responsibilities for driving as well as consequences for breaking rules for you and your new teen driver.
Some discussion points to encourage safe driving
- Be open to negotiation on some points
- Be firm on those rules that are important to you
- Limit or prohibit driving until your teen signs the contract
- Ensure both parents are in agreement with rules
- Be sincere in meeting your contract terms
- Determine how often you will review the contract
Advantages of legally binding contract in society
Contract law lies at the heart of our system of laws and serves as the foundation of our entire society. This is not an exaggeration. It is a simple observation – one that too often goes unobserved.
Our society depends on free trade in the market at all levels. Contract law, makes this possible. Trading in the market will always depend on voluntary agreements between individuals or other “legal persons.” These voluntary agreements would never be able to work without a contract, the law.
Contract law is intended to make these agreements “executive”, which usually means that permit one of the parties to a contract to obtain money damages from relatively to establish that it is in violation.
Without contract law, voluntary agreements would quickly become unworkable and bit impractical. Since there are articles of agreement to the heart of the economy of the alliance, and as it were, from a contract of right, but not greater than the, and on the fact that “in the midst of our rights against the laws and preserves the order of the foundation of the whole of society.” [4]These words, with this my little work is to start.
Stated more precisely, it is our system of contract law that underpins and makes possible the many private, voluntary agreements by which exchanges of goods and services are accomplished in our society at every level. No exchange is exempt from the contract law, which indeed can be rightly called the cornerstone of marketplace civilization.
If one party to a contract wishes to complain that the other has failed to perform or has misperformed, he can assert that the non-performing or misperforming party has committed a breach of the contract. A breach is said to occur when one party to a contract fails or refuses without proper excuse to perform a “material” term or condition of the contract in a satisfactory or timely manner.
If such a breach occurs and causes proximate harm to the wronged party, the offending party becomes liable at law for a breach of contract. Stated more exactly, the wronged party can bring suit against the offending party if he pleads that (1) a contract (oral, written or implied) was formed between the two of them; (2) the wronged party performed his own obligations under the contract or has been excused by the other party’s malfeasance from performing them; (3) the offending party failed or refused to perform at least one material term or condition of the contract in a reasonable or timely manner; and (4) by so failing to perform, the offending party caused proximate injury or harm to the wronged party.
If an aggrieved party prevails on a claim for breach of contract, his remedies are limited ordinarily to monetary a damage, which is to say, money recompense. The ordinary measure of monetary damages is such amount of money as is necessary to place the aggrieved party in the position in which he would have been, had the offending party timely performed the contract in proper manner.
Another way of stating this formula is to say that the aggrieved party, upon proving the breach, is entitled to the benefit of his bargain, but not usually to specific performance of the bargain itself.
In some cases an aggrieved party cannot have the benefit of his bargain if he receives only direct and incidental damages. Sometimes the aggrieved party may properly seek consequential damages, which are losses suffered in foreseeable consequence of the breach. Such damages can greatly exceed the value of the contract (it is therefore advisable to disclaim responsibility for consequential damages so far as the law allows).
In some instances, money damages simply will not suffice to recompense the aggrieved party. This is true where the offending party promised to give something of unique or irreplaceable value to the aggrieved party, but then breached his obligation to do so. In such a case, the aggrieved party may assert that no sum of money can recompense him adequately, and he may insist on specific performance of the contract. The aggrieved party in such a case argues in effect that he can enjoy the benefit of his bargain only if he can compel performance of the bargain itself. It is not possible for a mere award of money to put him in the position he would have enjoyed had the bargain been performed. The bargain must therefore be performed.
But the courts rarely compel the specific performance of a contract, save where it is one for the sale of real estate, since every parcel of real property is deemed to be unique, special, and uniquely valuable to its owner. There are other kinds of contracts that can be specifically enforced, but their number is limited and dwindling in an unsentimental, commercial world in which the payment of money is usually deemed the proper remedy for every loss or disappointment suffered.
Different kinds of contracts are used to accomplish different purposes. For example, leases are used to sell the possession of real property for a specified term, while contracts for sale of property are used for the sale and transfer of title to real property. Insurance contracts are used to sell insurance against loss in exchange for certain payments at specified intervals. When someone orders a plate of pasta, you have made a contract with restaurant where you have ordered it. The list of actual and possible contracts is infinite: Contracts are the means by which legal persons in our society agree to exchange goods, services and other valuable things.
All such contracts on social matters are nothing other than private agreements between parties, who by their agreement become obligated to exchange valuable benefits with each other in the society. The contract law makes such agreements enforceable, which means that an aggrieved party can seek money damages or sometimes even specific performance from the party who allegedly breached or misperformed the contract in the society.
This monograph is by no means a comprehensive, exhaustive catalogue of the many and complicated principles of contract law in social matters. It is meant rather to give an overview and sampling of this body of law in society. If it succeeds at providing this to the reader in understandable language, then it has accomplished its modest purposes.
Bibliography
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[2] “Society’s Dependence”,ehow.com, n. d.< http://www.ehow.com/info_7909925_importance-contract-law.html>
[3] “Capacity”,ehow.com, n.d.,< http://www.ehow.com/info_7909925_importance-contract-law.html>
[4] “An extraordinary importance of contract law”, markhamlawfirm.com, 2002, <http://www.markhamlawfirm.com/law-articles/contract-lawyer-san-diego/>