Thank you sir for this another informative video presentation, it helps a lot situationally. I've learned also what our rights and obligation in creating or agreeing on a contract or what are the legal actions.
Thank you sir for another informative topic. For me, it helps me understand that the law of contract is making a contract requires the mutual assents of two or more persons. One who makes an offer and the other one who accepts the offer.
Handsome day sir, thanks for informative practical lesson related to negotiation using 7 elements of contract to make agreement of contract, very useful being a entrepreneur and business administrator for the future. That's why I learn how to make better choose a variety of person unlike frustration and breaching people.
Thank you sir for this knowledgeable lecture after watching the video I've learned what are the elements of contact. This is a big learning for us specifically for our future like having a business soon and needs to have a contract. Contract is very important for us especially when we are having a transaction to other person law of contract is the protection of a person's life and property is very important for to maintain a peace in society
Thank you for letting us know more about contract... In our time now contracts are important because for me you can trust no one.... In your discussion ive learned how law of contract worked... Verbal o written contract..
Thank you sir fir the lecture, regarding with the law of contract, in this video we were able to identify the elements and its importance,and in some point it always reveals regarding the advantage if having a contract of a certain situation that we are dealing with the buy and sell and so on and so forth.
Thank you for your informative topic sir. I have learned from this topic about how Contracts represent the relationship one party enters with the other. Each party has certain responsibilities and enjoys certain rights towards the other. A contract is a visual record of this relationship. A well-drafted contract is likely to state every detail and the extent to which the parties are bound to each other. A contract defines the relationship between the parties. If a party breaches the obligation to which it is committed, the other party can approach the court.
Thank you Sir for this lesson. I've learned that contract is the two parties agreed to settle something into legal forms either verbal or written. This form of contracts should have witnesses and evidences to the terms and conditions given to avoid conflict. It is very important also that two parties know what is in the contract and it should have willingness and have a consent to do that contract. There are ways also of terminating a contract according to the performance, agreement, frustration and breach.These ways can agreed upon by both parties if there are changes or circumstances occur in the situation.
Thank you sir for the lecture that give us a information that help us for our business someday. So , I learned that A contract is legally enforceable when it meets the requirements of applicable law. A contract typically involves the exchange of goods, services, money, or a promise of any of those. And also I learned the elements of contract that also give us knowledge oh how to handle it. It is important because the basic purpose of contract law is to provide a framework within which individuals can freely contract. The contract can legally bind the contracting parties by the creation of laws which are applicable only to the very individuals that create the contract and its subsequent legally binding laws.
After watching this video, I now know that a contract is a written or verbal agreement between two or more parties to settle a dispute legally. Thank you, sir, for your insightful lecture. Basic contract principles will help us become better informed citizens, and contracts are extremely important for us, especially when dealing with other people. If we can identify and put together a simple contract that is tailored to our specific activity, we will be well on our way.
Thankyou for this lecture sir. After watching this video i've learned about the first requisite of a contract is that the parties should have reached agreement. Generally speaking, an agreement is reached when one party makes an offer, which is accepted by another party. And a contract is agreement giving rise to obligations which are enforced or recognisedby the law.
Thankyou sir , I've learned that the promises made by the parties define the rights and obligations of the parties. Contracts are enforceable in the courts.
Thank your for this lecture sir. After watching this video I've learned the elements of contract. We should be aware of the agreement, and permission when signing a contract. Through this video I've learned also how important to be knowledgeable when making a contract or signing a contract and we should use it in our daily basis. This topic is very helpful on us because it can prevent us to those people who had bad a intentions .
I've learned that the law of contract is important because it enable to understand that there is necessary elements which must appear in a contract for a purpose of a contract to be named as a legal contract. The parties to the contract must have the same understanding in regards to the subject matter of the contract.
Thank you for the importative lecture sir .after watching this video I learned that a contract is an agreement that made between two or more people to settle something in legal form, either verbally or in writing. Knowledge of contract principles will make us better informed citizens, and contracts are extremely important for us, particularly when dealing with other people.
Thank you for another informative video sir, as I've watch the video I learned about the law of contract that the two or more person that generates a responsibility yo do or not to do something in each party, as well as the right to perform the other parties or a remedy. Thank you
Thanks for the video lecture sir V! I learned that contract is a legally enforceable agreement between two or more parties where each assumes a legal obligation that must be completed. And many aspects of daily life involve contracts, like buying property, applying for a car loan, signing employment-related paperwork, and agreeing to terms and conditions when buying products and services or using computer software. Legal issues involving contracts arise most often when one party fails to perform the legal obligation it has agreed to do. When a party breaches a contract by failing to perform, the other party can often sue for money damages, or, in some limited cases, can ask the court to force the other party to perform as promised.
AMTO, ARCHERELLE R. BSBA-3A Thank you, sir, for taking the time to make this video and for sharing your expertise and wisdom with us. After seeing this lecture, I realized how essential contract law is in our lives, particularly in the field of business or in a simple transaction, especially when dealing with another person. Both parties are aware of the agreement, intention, and permission of the transaction when they sign a contract. This video also explains what contract law is all about and how we should use it on a daily basis. It made me glad when our instructor told us to write a simple contract since, as a business student, it helps me become more mindful and knowledgeable about this topic, which will be extremely beneficial in our future venture. Thus, the law of contract provides the necessary legal protection that we need in any operation. Not only do contracts minimize risk, but they also protect us by helping us understand our rights and obligations under each agreement.
Thank you for this sir, after watching this video, I was able to learned that "The law of Contract" is about the enforcement of promises. Not all promises. are enforced by courts. To enforce a set of promises, or an agreement, courts look for the presence of certain elements. When these elements are present a court will find that the agreement is a contract.
Thank you for this discussion sir. It is the useful tools for me as a business students and I know all about business contracts like agreements by two person or more
Thank you sir for this topic about the law of contract I learned the contract is when we agreed the price of what we buy from store, this is the one of the example of agreement of contract. There are more parts of contract that we apply for our daily lives. This topic maybe l apply this sooner or later as a business student and business woman.
JASMIN M. EROJO BSBA 3B Thank you for the knowledge sir about contract for this is very important especially in this time that we really don't know whom to trust.In doing or making a contract both parties must understand deeply what is the content of the contract and intention must be clearly so that there will be no confusion or regrets. at the end.Honesty,respect and being fair is very important in making contract.Lets not take for granted those people who can't read,write and understand.Lets always keep in our mind that do not do unto others what you don't want to do unto you.for karma is real..thank you sir we will treasure the knowledge that you've shared to us.Merry X'mas
Thank u so much sir for the convinient lecture. law of contract is very important for the society to understand its importance. Some doesnt have any idea or doesnt educate themselves about the consequence of not having contract legally in any actions. Some has been scammed and some cannot fight for the right of the obligation . Contract is very helpful in doing some agreement between 2 or more people to secure your money or to be safe so that you have the right to demand to pay the obligation of the debtor. And you can ask help to the law to settle the obligation of the debtor. You can file case if that man ran or hide or dont pay. But in the video there are different type of contract others are necessary others are not. It depends upon the situation. By any chance you will have an agreement in terms of money, a legal contract must apply. Like if you install a cellphone , a lot like contract to sell and etc. Vercylvan C. Rabino Bsba 3A
Thank you Sir. In this Contract we enter into deals and signs contracts day in day out and bears the key disparity from other types of laws and contains in many limiting principles from which parties may come up with rights and it held that the law of contracts gives us the freedom to make laws and it is agreement that can be enforced by law from given consideration to one another.
I have learned that A contract is very important especially when you are having a transactions to other person. By having a contract both parties are aware of the agreement, intention and consent of the transaction that has been made and it is very important to know what are the elements do a contract have for your awareness. A contract can make a transaction legal and it will help you in the future if there will be a misunderstanding to both parties. Thank you sir and God bless!
For me. Knowing the law of contracts gives you a range of useful information. First, the elements needed to make a valid contract. Second, the range of obligations and responsibilities found with valid contracts. Third, the grounds on which a contract might be ignored. Fourth, the opportunities someone might choose in order to repeal an enforceable contract. The most important reason to understand the law of contracts is the stability contracts offer to most people in most of their lives.
I learned that the Law of Contract is a set of rules governing the relationship,content and validity of agreement two or more persons(Individual,Companies or other institution) regarding the sale of goods, provision of service or exchange of interest or ownership. And that is very important in our daily life.
Good Day Sir, Thank you for the another one informative video presentation. The video for me is all about providing us the importance of knowing and understanding the law of contract. Basically, contracts is an integral part of our life, it represent the relationship one party enters with the other. In this topic the advantages and disadvantages for oral and written contract was further tacled. A written contract is a printed document between two parties, stating their obligations towards each other. This is primarily because a written document has more evidentiary value before the law than mere words. On the other hand, an oral contract is a type of business contract that is outlined and agreed to via spoken communication, but not written down.However, in certain cases, the oral contract is accepted only if backed by written documents. Other evidence that can bolster the enforceability of oral contracts can include- testimony of a witness.
Thank you for this video discussion Sir,on this lecture it gives an important lesson and information about the law of contract.I learned that the contract is legally binding agreement between two or more people enforceable by law.(legal functions would be avail by both parties.and the elements of contract,the agreement,Intention,consideration,capacity,consent,legality of form and legality and legality of purpose.it is important to understand and knowledgeable about all of this to know our rights and prevent problems and wrong decisions in the future.thank you so much Sir.Merry Xmas!
Thankyou for this wonderful topic sir verry informative and we'll explained I've learn something new about contract because of this video. As what you said contract has an agreement and obligation of two person or two party for them to settle what they want for thier contract and to know thier obligation for each other.
Thank you so much sir after watching the video I've learn that each party has an obligation to follow through with the sale covered in the contract. ... Contracts should not only cover the basic of what is being exchanged but also the where and the how. The terms and conditions of a contract are an important part of the legal agreement that shouldn't be overlooked.
What I have learned is , a contract is enforceable when both parties agree to something, back the promise up with money or something of value, both are in sound mind and intend to carry out their promise and what they promise to do is within the law. Most commonly, a contract is written and signed by the parties. However, there are several other types of contracts that are considered enforceable. There are even some that are not considered enforceable and serve only as a way for a court to determine the obligation on the part of either party.You'll likely be a party to contracts in your everyday routine. Everything from eating at a restaurant to buying a home includes some form of a contract. The following are some of the most common contracts that are used.
I've learned that contract is an agreement that the courts will enforce. Hear both sides of the disagreement, examine evidence, make a judgment, and enforce the judgment. There are a variety of mistakes people make when attempting to form a contract. In short, a contract legal system allows society to create real estate transactions, banking and credit systems, employment arrangements, insurance agreements, and a variety of business transactions including buy and sell agreements, deferred compensation agreements, and contingency agreements. So an effective business law system promotes commerce, which promotes efficiency and increased standards of living, which is good for society. This protects someone and usually is one sided in most cases as lawyers do not see equality when disputing back and forth on the contract so you get a little but give a little in the end hopefully you both can agree on something that benefits you both.
Thankyou Sir for this well-explained law of contract as i clearly undertand now that the Law of contract is the protection of a person's life and property is very important for the maintenance of peace in society, just as the protection of a business and its property is very important for the development of a business. The protection of an individual's life and property is only feasible under the criminal law of that country, and the protection of a business's life and property is only attainable under contract law. In other words, contract law protects a business's life and property in the same way that criminal law protects a person's life and property.
Loover Veloso BSBA 3B Contract is an binding agreement between two or more persons. This discussion make us learn about the elements of a contracts that will useful in writing one. This are terms to consider for the legal basis of a contract. There is also a ways to end or terminate the contract which is a noce idea if there will be circumtances between the parties. This learnings are best for all the business student that having small or big business in current and in the future.
The importance of contract is that contract provides better visibility to meet the duties and achieve the objetives as agreed per the agreement. Any kind of contract is very important to all, most especially in my experience since I am a lot dealer and sometimes a buyer a contract of sale is the most significant based on my own observation. This made both parties in good terms and is a lawful act which creates peace to all people. Contract to any transactions is needed, it helps both parties if there are some misunderstanding in the future.
What I've learned is that there are a lot of elements in the law of contract like agreement, intention, consideration, capacity, consent, legality of form, and legality of purpose. In addition to that, I've also learned that there are four ways to end a contract via performance, agreement, frustration, and breach of contract. And I've also learned the remedies of breach of contract like to rescind or abandon the contract, to sue for damages, and to let the party who breached the contract to pay for the fees needed for another party to complete the contract, that is ordered by the court.
Thank you sir, I've learned that The law of contract is that branch of law which determines the cercumstances in which a promise shall be legally binding on the person making it and it is a set of rules governing the relationship, content and validity of agreement two or more person, regarding the sale of goods. Provision of service or exchange of interest or ownership.
Thank you for this very informative topic Sir, after viewing this video it helps me better understand the importance of Law of Contract. It help me to learned about the elements in the law of contract, the four ways to terminated a contract and remedies for breach of contract. As a business student having more knowledge in law of contracts helps us to be more responsible in involving legal transactions when running a business which are a key to creating sound business agreements that will be legally enforceable in the event that a dispute arises. Contracts are crucial in our lives because they legally bind the persons involved in a partnership. Any contract breach can be remedied, and damages can be compensated. Aside from basic aspects, the contract also incorporates other important legal aspects that benefit the parties’ relationship.
Thank you so much sir for this lecture sir. It is basic that a contract is the law between the parties. Obligations arising from contracts have the force of law between the contracting parties and should be complied with in good faith. ... Petitioner is thus bound by the terms of the 1988 Contract, and must comply with it in good faith.
For me I've learned contracts that its legally blinding document between at least two parties that defines and governs the right and duties of the parties to an agreement and it's legally enforceable because it meets the requirement and approval of the law and it's involves the exchange of goods, service, money or promise of any of those. But if you bleach the contract the law will have to award the injured party either the access to legal remedies such as damages or cancellation.
thankyoubsir for this lecture. it helps a lot of situationaly i learned about that law of contract and what us right and obligation or creating a legal contract and what are eligal action.
Thank you for this lecture, sir; with all of it, we are able to identify elements of contract and we are able to make a simple contract particularly to the related activity, the contract we created and submitted recently. This lesson has taught us better understanding of contracts in order to know our rights and to widen our knowledge of basic law of contracts.
Thank you sir for this lecture. In this Video, I've have learned what are the elements of contructs. It will help us especially for our future as a business man and a woman someday, for having a business or to have a contract. I have learned that a contract is very important for us especially when we are having a transaction to other person.
For me. I've learned that a law contract is very important and useful especially when you having a transactions to other person. A law contract can make transactions legal and also it will help people to make their business safe in terms of barrowing because both of person have an agreement, intention, consideration, capacity, consent, legality of form, and legality of purposes. In addition we have law contract because all businesses stay safe and very good in terms of their flows into other co business partners.
Thank you for this another informative topic sir. In the element of contract, I've experienced the written agreement to our creditor who lend us money and we both agreed that we will terminate the contract after five months if we fully paid it and we both signed it to keep the validity of the contract. In the word revocation, I've heard it from my neighbor who revoked his husband from her SSS beneficiary because his husband committed adultery. As to terminating a contract, our carpenter who build our house have been already paid for the performance he rendered in the past and we agreed that we will stop the construction because we don't have enough budget for it and we will continue if we could have another budget. This topic is useful in every person so that we could not be deceive by someone else who have the intention to do so. Thank you so much sir .God bless.
Thank you sir for sharing such information. I've learned from your discussion what is a contract and what are the elements of a contract. I was also able to learn about the four ways to terminate a contract and remedies for breach of contract. I knew that someday this learning I got from your discussion will help me when I'm engaging in a contract. As a business student understanding the law of contracts is very important, even in our daily lives there are some agreements we already encountered and this learning I got from your discussion will surely apply.
What I've learned is Contracts are a part of everyday life, and a knowledge of contract principles will make us better informed citizens. Because contracts, agreements between people are central to our lives, our businesses, and our disputes with each other. When things do go wrong, contracts help enable fair outcomes by providing an objective manifestation of the mutual intent of the parties. The legal process of contract enforcement also provides a common and predictable process for settling disputes.
I learned about the elements of contract, in every contract, agreement must be supported by consideration. It must be lawful and real. The agreement, in which the meaning is uncertain or if the agreement is not capable of being made certain, it is deemed void.
After watching the video, I have learned about the essential elements of a contract which makes the agreement valid and enforceable. These elements are as follows: agreement, intention, consideration, capacity, consent, legality of form and legality of purpose. When these elements are present, a contract evolves from a simple agreement to a binding legal document. But if you lack these elements, a contract may not be enforceable at all.
I had learned that contract is a contract enforceable by law. The promise may be to do something or to refrain from doing something. The making of the contract requires the mutual assent of two or more persons, one of them ordinarily making an offer and another accepting. The basic purpose of contract law is to provide a framework within which individuals can freely contract. The contract can legally bind the contracting parties by the creation of laws which are applicable only to the very individuals that create the contract and its subsequent legally binding laws.
Thank you so much sir for discussing us breifly the law of contract that we can used in our future life. This lecture video give us information of what contract really is and how important a contract might be. A contract is an agreement between two or more people.
I've learned that law of contract is the simplest definition, a promise enforceable by law. The promise may be to do something or to refrain from doing something. The making of a contract requires the mutual assent of two or more persons, one of them ordinarily making an offer and another accepting.
Thank you for this lecture sir. After viewing this video, I've learned what are the elements of contract and this is a big learning for me especially for our future use like having business and needs to have contract. I've also learned what our rights and obligation in creating or agreeing on a contract or what are the legal actions when one is breaching the contract.
Thank you Sir for this lecture, I learned that there is an elements of contract which is very important to know more about this contract.A contract is an agreement of two parties. If we broke the contract the other party has right to sue us under the breach contract.Written contract isveey important if we buy some insurance,cars,house and lot and etc.This learning is very important especially when we have a business in future
Thank you for this knowledgeable lecture sir. This video has thought me about the elements of contracts and agreement. That even in our simple way of living agreements are always there. Even it is verbal agreement. Contracts is a legal agreement between people, companies or etc. A document in which a word is written and agreements are made between two parties.
Sir thank you so much for doing flexible learning since we have a difficulties to reach a good internet so it became a more advantage to us to learn more. The most I've learned of this video discussion is what are the rule of the elements of contract that able to know what is my right or obligation being involved of the said contract.
In this video, I learned that a contract is a meeting of minds between two people in which one binds himself, with respect to the other, to give something or render some service. For a contract to be valid, three elements must be present: consent, object, and cause.
Thank you sir now I know about making contract what is inside the contract. when making contract or agreement to the owner and the costumer.the costumer will not scape thier obligation because of party have signed the the contract and they have witnessed ....
I've learned that it has a different types of Contract .It could be Verbal/Oral and also it ,could be Writing/written Contract .No matter what types of Contract it is ,It always Legally binding by Law .In short once you are signing a Contract or agreement between a person or company you/we are responsible to follow of what was written in the contract or agreement ,and Also the video emphasize that the contract is enforceable under the law, it means that it has a legal sanction once you fail to act in accordance of the agreement.
Thank you for this lecture sir, with this we are able to identify the elements of contract, most specially to the contract we made and submitted to our last activity. This lecture have given us greater understanding on situations where contracts are terminated ,in what situations where verbal contracts are allowed or honored and in what instances that written contracts is necessary, such us the sell of properties and insurance policy.
For me, in making of a contract requires the mutual assent of two or more persons, one of them ordinarily making an offer and another accepting. If one of the parties fails to keep the promise, the other is entitled to legal redress.
For me a contract as a meeting of minds between two persons whereby one binds himself,with respect to the other, to give something or to render some service. for there to be a valid contract, these three elements must be present:consent, object, and cause.
Thanks you sir for this video discussion of yours as ive watch the video i realize that that we need to follow what is right especially of making a contract and also securing those documents do you have incase of having an argument to the person.
After watching this video I’ve learned about the law of contract in where all contracts have several elements in common. In making a contract before you can have an agreement both of the sides agreed first about being on the contract. Also in making a contract there must be a willingness and knowledge of both sides that they are having a contract. Persons under the influence of alcohol or using drugs are not allowed to enter into a contract. Upon watching the video I’ve learned that threatening someone to agreed on the contract is not allowed and both sides should have each others consent about the contract. In making a contract it must not break any laws.
I’ve learned that contracts are promises that the law will enforce. Contract law is generally governed by the state Common Law, and while general overall contract law is common throughout the country, some specific court interpretations of a particular element of the Contract may vary between the states. always start with an offer. An offer is an expression of a willingness to enter into a contract on certain terms. It is important to establish what is and is not an offer. Offers must be firm, not ambiguous, or vague. A person who is making the offer is called the offeror.
Student Name: OBSID, MARICAR BSBA-3A Thank you for this very informative video Sir. It help us a lot situationally. Generally, to be legally valid, most contracts must contain 2 elements which are all parties must agree about an offer made by one party and accepted by the other. And in the event of a breach of contract, the injured party may seek judicial remedies such as damages or cancellation. These provisions set the laws of the country or other forum in which disputes will be resolved respectively.
Bernard C. Calapuan BSBA-3B In this video I learned more about the nature and capabilities of contracts in our daily life, For every contract there must have an agreement of both parties involved. Also the different elements involved in making a contract which is very common in our daily life that we use this elements without knowing it's part of the law of contract. It's very useful to have knowledge about contract to know our rights and to widen our knowledge as an ordinary citizens to basic principles of making contracts.
The law of contract is a set of rules governing the relationship, content and validity of an agreement between two or more persons (individuals, companies or other institution) regarding the sale of goods, provision of services or exchange of interests or ownership.The Civil Code defines a contract as “a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service.” For there to be a valid contract, these three elements must be present: consent, object, and cause.
Thank you sir james violon , your lecture about the law of contract I'm very interested to know about the rules, the simple contract I was really know about this ,,, besides your discussion is clear I have something to learned about the law, thank you sir .God bless you always.have a nice a day take care always.👍👍👍.
The civil code defines a contacts as a meeting of minds between two persons whereby one binds himself with respect to the other to give something or to render some services for there to be a valid contract
Thank you so much sir for this lecture video about the law of contract and its elements. Having this kind of discussion enables us to have a better background that we can apply in our business in the near future. Contracts are also valuable in our everyday lives. If you have a contract, you have the other person’s (borrower) promise to do something. If the contract is clear, you have the other person’s promise to do exactly what he or she is going to do.
contract is a legally enforceable agreement between two or more parties. The core of most contracts is a set of mutual promises (in legal terminology, "consideration"). The promises made by the parties define the rights and obligations of the parties. Contracts are enforceable in the courts.
The Civil Code defines a contract as “a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service.” For there to be a valid contract, these three elements must be present: consent, object, and cause.Aug 2, 2019
ARIEL A NAMUAG BSBA 3 A The Civil Code defines a contract as “a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service.” For there to be a valid contract, these three elements must be present: consent, object, and cause. The majority of contracts (i.e. employment agreements, leases, general business agreements) are controlled by the state's common law -- a tradition-based but constantly evolving set of laws that is mostly judge-made, from court decisions over the years. According to Pollock, Every agreement and promise enforceable by law is a contract. According to Salmond, A contract is an agreement creating and defining obligation between two or more persons by which rights are acquired by one or more to act or forbearance on the part of others.
contract is a legally enforceable agreement between two or more parties. The core of most contracts is a set of mutual promises (in legal terminology, "consideration"). The promises made by the parties define the rights and obligations of the parties. Contracts are enforceable in the courts.
Thank you sir for this another informative video presentation, it helps a lot situationally. I've learned also what our rights and obligation in creating or agreeing on a contract or what are the legal actions.
Thank you sir for another informative topic. For me, it helps me understand that the law of contract is making a contract requires the mutual assents of two or more persons. One who makes an offer and the other one who accepts the offer.
Handsome day sir, thanks for informative practical lesson related to negotiation using 7 elements of contract to make agreement of contract, very useful being a entrepreneur and business administrator for the future. That's why I learn how to make better choose a variety of person unlike frustration and breaching people.
Thank you sir for this knowledgeable lecture after watching the video I've learned what are the elements of contact. This is a big learning for us specifically for our future like having a business soon and needs to have a contract.
Contract is very important for us especially when we are having a transaction to other person law of contract is the protection of a person's life and property is very important for to maintain a peace in society
Thank you for letting us know more about contract... In our time now contracts are important because for me you can trust no one.... In your discussion ive learned how law of contract worked... Verbal o written contract..
Thank you sir fir the lecture, regarding with the law of contract, in this video we were able to identify the elements and its importance,and in some point it always reveals regarding the advantage if having a contract of a certain situation that we are dealing with the buy and sell and so on and so forth.
Thank you for your informative topic sir.
I have learned from this topic about how Contracts represent the relationship one party enters with the other. Each party has certain responsibilities and enjoys certain rights towards the other. A contract is a visual record of this relationship.
A well-drafted contract is likely to state every detail and the extent to which the parties are bound to each other. A contract defines the relationship between the parties. If a party breaches the obligation to which it is committed, the other party can approach the court.
Thank you for this video lecture sir I've learned a lot of this lecture I've learned how to make a simple contract that related to activity.
Thank you Sir for this lesson. I've learned that contract is the two parties agreed to settle something into legal forms either verbal or written. This form of contracts should have witnesses and evidences to the terms and conditions given to avoid conflict. It is very important also that two parties know what is in the contract and it should have willingness and have a consent to do that contract. There are ways also of terminating a contract according to the performance, agreement, frustration and breach.These ways can agreed upon by both parties if there are changes or circumstances occur in the situation.
Thank you sir for the lecture that give us a information that help us for our business someday. So , I learned that A contract is legally enforceable when it meets the requirements of applicable law. A contract typically involves the exchange of goods, services, money, or a promise of any of those.
And also I learned the elements of contract that also give us knowledge oh how to handle it. It is important because the basic purpose of contract law is to provide a framework within which individuals can freely contract. The contract can legally bind the contracting parties by the creation of laws which are applicable only to the very individuals that create the contract and its subsequent legally binding laws.
After watching this video, I now know that a contract is a written or verbal agreement between two or more parties to settle a dispute legally. Thank you, sir, for your insightful lecture. Basic contract principles will help us become better informed citizens, and contracts are extremely important for us, especially when dealing with other people. If we can identify and put together a simple contract that is tailored to our specific activity, we will be well on our way.
Thankyou for this lecture sir. After watching this video i've learned about the first requisite of a contract is that the parties should have reached agreement. Generally speaking, an agreement is reached when one party makes an offer, which is accepted by another party. And a contract is agreement giving rise to obligations which are enforced or recognisedby the law.
Thankyou sir , I've learned that the promises made by the parties define the rights and obligations of the parties. Contracts are enforceable in the courts.
You have demonstrated through your patience that you are a really mature and talented bunch. Thank you sir
Thank your for this lecture sir. After watching this video I've learned the elements of contract. We should be aware of the agreement, and permission when signing a contract. Through this video I've learned also how important to be knowledgeable when making a contract or signing a contract and we should use it in our daily basis. This topic is very helpful on us because it can prevent us to those people who had bad a intentions .
I've learned that the law of contract is important because it enable to understand that there is necessary elements which must appear in a contract for a purpose of a contract to be named as a legal contract. The parties to the contract must have the same understanding in regards to the subject matter of the contract.
Thank you for the importative lecture sir .after watching this video I learned that a contract is an agreement that made between two or more people to settle something in legal form, either verbally or in writing. Knowledge of contract principles will make us better informed citizens, and contracts are extremely important for us, particularly when dealing with other people.
Thank you for another informative video sir, as I've watch the video I learned about the law of contract that the two or more person that generates a responsibility yo do or not to do something in each party, as well as the right to perform the other parties or a remedy. Thank you
Thankyou for the lessons that you have given unto us sir. I have learned a lot about this discussion.
Thanks for the video lecture sir V! I learned that contract is a legally enforceable agreement between two or more parties where each assumes a legal obligation that must be completed. And many aspects of daily life involve contracts, like buying property, applying for a car loan, signing employment-related paperwork, and agreeing to terms and conditions when buying products and services or using computer software. Legal issues involving contracts arise most often when one party fails to perform the legal obligation it has agreed to do. When a party breaches a contract by failing to perform, the other party can often sue for money damages, or, in some limited cases, can ask the court to force the other party to perform as promised.
AMTO, ARCHERELLE R.
BSBA-3A
Thank you, sir, for taking the time to make this video and for sharing your expertise and wisdom with us. After seeing this lecture, I realized how essential contract law is in our lives, particularly in the field of business or in a simple transaction, especially when dealing with another person. Both parties are aware of the agreement, intention, and permission of the transaction when they sign a contract. This video also explains what contract law is all about and how we should use it on a daily basis. It made me glad when our instructor told us to write a simple contract since, as a business student, it helps me become more mindful and knowledgeable about this topic, which will be extremely beneficial in our future venture. Thus, the law of contract provides the necessary legal protection that we need in any operation. Not only do contracts minimize risk, but they also protect us by helping us understand our rights and obligations under each agreement.
Thank you sir for this video, I've learned of this lecture on how to create a contract.
Thank you for this sir, after watching this video, I was able to learned that "The law of Contract" is about the enforcement of promises. Not all promises. are enforced by courts. To enforce a set of promises, or an agreement, courts look for the presence of certain elements. When these elements are present a court will find that the agreement is a contract.
Thank you for this discussion sir. It is the useful tools for me as a business students and I know all about business contracts like agreements by two person or more
Thank you sir for this topic about the law of contract I learned the contract is when we agreed the price of what we buy from store, this is the one of the example of agreement of contract. There are more parts of contract that we apply for our daily lives. This topic maybe l apply this sooner or later as a business student and business woman.
JASMIN M. EROJO BSBA 3B Thank you for the knowledge sir about contract for this is very important especially in this time that we really don't know whom to trust.In doing or making a contract both parties must understand deeply what is the content of the contract and intention must be clearly so that there will be no confusion or regrets. at the end.Honesty,respect and being fair is very important in making contract.Lets not take for granted those people who can't read,write and understand.Lets always keep in our mind that do not do unto others what you don't want to do unto you.for karma is real..thank you sir we will treasure the knowledge that you've shared to us.Merry X'mas
Thank u so much sir for the convinient lecture. law of contract is very important for the society to understand its importance. Some doesnt have any idea or doesnt educate themselves about the consequence of not having contract legally in any actions. Some has been scammed and some cannot fight for the right of the obligation . Contract is very helpful in doing some agreement between 2 or more people to secure your money or to be safe so that you have the right to demand to pay the obligation of the debtor. And you can ask help to the law to settle the obligation of the debtor. You can file case if that man ran or hide or dont pay. But in the video there are different type of contract others are necessary others are not. It depends upon the situation. By any chance you will have an agreement in terms of money, a legal contract must apply. Like if you install a cellphone , a lot like contract to sell and etc.
Vercylvan C. Rabino Bsba 3A
Thank you Sir. In this Contract we enter into deals and signs contracts day in day out and bears the key disparity from other types of laws and contains in many limiting principles from which parties may come up with rights and it held that the law of contracts gives us the freedom to make laws and it is agreement that can be enforced by law from given consideration to one another.
I have learned that A contract is very important especially when you are having a transactions to other person. By having a contract both parties are aware of the agreement, intention and consent of the transaction that has been made and it is very important to know what are the elements do a contract have for your awareness. A contract can make a transaction legal and it will help you in the future if there will be a misunderstanding to both parties.
Thank you sir and God bless!
For me. Knowing the law of contracts gives you a range of useful information. First, the elements needed to make a valid contract. Second, the range of obligations and responsibilities found with valid contracts. Third, the grounds on which a contract might be ignored. Fourth, the opportunities someone might choose in order to repeal an enforceable contract. The most important reason to understand the law of contracts is the stability contracts offer to most people in most of their lives.
After watching this video I learned the elements of contract I should be aware of the agreement of signing of a contract.
I learned that the Law of Contract is a set of rules governing the relationship,content and validity of agreement two or more persons(Individual,Companies or other institution) regarding the sale of goods, provision of service or exchange of interest or ownership. And that is very important in our daily life.
Good Day Sir,
Thank you for the another one informative video presentation.
The video for me is all about providing us the importance of knowing and understanding the law of contract. Basically, contracts is an integral part of our life, it represent the relationship one party enters with the other.
In this topic the advantages and disadvantages for oral and written contract was further tacled. A written contract is a printed document between two parties, stating their obligations towards each other. This is primarily because a written document has more evidentiary value before the law than mere words. On the other hand, an oral contract is a type of business contract that is outlined and agreed to via spoken communication, but not written down.However, in certain cases, the oral contract is accepted only if backed by written documents. Other evidence that can bolster the enforceability of oral contracts can include- testimony of a witness.
Thank you for this video discussion Sir,on this lecture it gives an important lesson and information about the law of contract.I learned that the contract is legally binding agreement between two or more people enforceable by law.(legal functions would be avail by both parties.and the elements of contract,the agreement,Intention,consideration,capacity,consent,legality of form and legality and legality of purpose.it is important to understand and knowledgeable about all of this to know our rights and prevent problems and wrong decisions in the future.thank you so much Sir.Merry Xmas!
Thankyou for this wonderful topic sir verry informative and we'll explained I've learn something new about contract because of this video. As what you said contract has an agreement and obligation of two person or two party for them to settle what they want for thier contract and to know thier obligation for each other.
Thank you so much sir after watching the video I've learn that each party has an obligation to follow through with the sale covered in the contract. ... Contracts should not only cover the basic of what is being exchanged but also the where and the how. The terms and conditions of a contract are an important part of the legal agreement that shouldn't be overlooked.
What I have learned is , a contract is enforceable when both parties agree to something, back the promise up with money or something of value, both are in sound mind and intend to carry out their promise and what they promise to do is within the law.
Most commonly, a contract is written and signed by the parties. However, there are several other types of contracts that are considered enforceable. There are even some that are not considered enforceable and serve only as a way for a court to determine the obligation on the part of either party.You'll likely be a party to contracts in your everyday routine. Everything from eating at a restaurant to buying a home includes some form of a contract. The following are some of the most common contracts that are used.
I've learned that contract is an agreement that the courts will enforce. Hear both sides of the disagreement, examine evidence, make a judgment, and enforce the judgment. There are a variety of mistakes people make when attempting to form a contract. In short, a contract legal system allows society to create real estate transactions, banking and credit systems, employment arrangements, insurance agreements, and a variety of business transactions including buy and sell agreements, deferred compensation agreements, and contingency agreements. So an effective business law system promotes commerce, which promotes efficiency and increased standards of living, which is good for society. This protects someone and usually is one sided in most cases as lawyers do not see equality when disputing back and forth on the contract so you get a little but give a little in the end hopefully you both can agree on something that benefits you both.
Thankyou Sir for this well-explained law of contract as i clearly undertand now that the Law of contract is the protection of a person's life and property is very important for the maintenance of peace in society, just as the protection of a business and its property is very important for the development of a business. The protection of an individual's life and property is only feasible under the criminal law of that country, and the protection of a business's life and property is only attainable under contract law. In other words, contract law protects a business's life and property in the same way that criminal law protects a person's life and property.
Loover Veloso BSBA 3B
Contract is an binding agreement between two or more persons. This discussion make us learn about the elements of a contracts that will useful in writing one. This are terms to consider for the legal basis of a contract. There is also a ways to end or terminate the contract which is a noce idea if there will be circumtances between the parties.
This learnings are best for all the business student that having small or big business in current and in the future.
The importance of contract is that contract provides better visibility to meet the duties and achieve the objetives as agreed per the agreement.
Any kind of contract is very important to all, most especially in my experience since I am a lot dealer and sometimes a buyer a contract of sale is the most significant based on my own observation. This made both parties in good terms and is a lawful act which creates peace to all people. Contract to any transactions is needed, it helps both parties if there are some misunderstanding in the future.
What I've learned is that there are a lot of elements in the law of contract like agreement, intention, consideration, capacity, consent, legality of form, and legality of purpose. In addition to that, I've also learned that there are four ways to end a contract via performance, agreement, frustration, and breach of contract. And I've also learned the remedies of breach of contract like to rescind or abandon the contract, to sue for damages, and to let the party who breached the contract to pay for the fees needed for another party to complete the contract, that is ordered by the court.
Thank you sir, I've learned that The law of contract is that branch of law which determines the cercumstances in which a promise shall be legally binding on the person making it and it is a set of rules governing the relationship, content and validity of agreement two or more person, regarding the sale of goods. Provision of service or exchange of interest or ownership.
Thank you for this very informative topic Sir, after viewing this video it helps me better understand the importance of Law of Contract. It help me to learned about the elements in the law of contract, the four ways to terminated a contract and remedies for breach of contract. As a business student having more knowledge in law of contracts helps us to be more responsible in involving legal transactions when running a business which are a key to creating sound business agreements that will be legally enforceable in the event that a dispute arises. Contracts are crucial in our lives because they legally bind the persons involved in a partnership. Any contract breach can be remedied, and damages can be compensated. Aside from basic aspects, the contract also incorporates other important legal aspects that benefit the parties’ relationship.
Thank you so much sir for this lecture sir. It is basic that a contract is the law between the parties. Obligations arising from contracts have the force of law between the contracting parties and should be complied with in good faith. ... Petitioner is thus bound by the terms of the 1988 Contract, and must comply with it in good faith.
For me I've learned contracts that its legally blinding document between at least two parties that defines and governs the right and duties of the parties to an agreement and it's legally enforceable because it meets the requirement and approval of the law and it's involves the exchange of goods, service, money or promise of any of those. But if you bleach the contract the law will have to award the injured party either the access to legal remedies such as damages or cancellation.
thankyoubsir for this lecture. it helps a lot of situationaly i learned about that law of contract and what us right and obligation or creating a legal contract and what are eligal action.
Thank you for this lecture, sir; with all of it, we are able to identify elements of contract and we are able to make a simple contract particularly to the related activity, the contract we created and submitted recently. This lesson has taught us better understanding of contracts in order to know our rights and to widen our knowledge of basic law of contracts.
Thank you sir for this lecture. In this Video, I've have learned what are the elements of contructs. It will help us especially for our future as a business man and a woman someday, for having a business or to have a contract. I have learned that a contract is very important for us especially when we are having a transaction to other person.
For me. I've learned that a law contract is very important and useful especially when you having a transactions to other person. A law contract can make transactions legal and also it will help people to make their business safe in terms of barrowing because both of person have an agreement, intention, consideration, capacity, consent, legality of form, and legality of purposes. In addition we have law contract because all businesses stay safe and very good in terms of their flows into other co business partners.
Thank you for this another informative topic sir. In the element of contract, I've experienced the written agreement to our creditor who lend us money and we both agreed that we will terminate the contract after five months if we fully paid it and we both signed it to keep the validity of the contract.
In the word revocation, I've heard it from my neighbor who revoked his husband from her SSS beneficiary because his husband committed adultery.
As to terminating a contract, our carpenter who build our house have been already paid for the performance he rendered in the past and we agreed that we will stop the construction because we don't have enough budget for it and we will continue if we could have another budget. This topic is useful in every person so that we could not be deceive by someone else who have the intention to do so. Thank you so much sir .God bless.
Thank you sir for sharing such information. I've learned from your discussion what is a contract and what are the elements of a contract. I was also able to learn about the four ways to terminate a contract and remedies for breach of contract. I knew that someday this learning I got from your discussion will help me when I'm engaging in a contract. As a business student understanding the law of contracts is very important, even in our daily lives there are some agreements we already encountered and this learning I got from your discussion will surely apply.
What I've learned is Contracts are a part of everyday life, and a knowledge of contract principles will make us better informed citizens. Because contracts, agreements between people are central to our lives, our businesses, and our disputes with each other. When things do go wrong, contracts help enable fair outcomes by providing an objective manifestation of the mutual intent of the parties. The legal process of contract enforcement also provides a common and predictable process for settling disputes.
I learned about the elements of contract, in every contract, agreement must be supported by consideration. It must be lawful and real. The agreement, in which the meaning is uncertain or if the agreement is not capable of being made certain, it is deemed void.
After watching the video, I have learned about the essential elements of a contract which makes the agreement valid and enforceable. These elements are as follows: agreement, intention, consideration, capacity, consent, legality of form and legality of purpose. When these elements are present, a contract evolves from a simple agreement to a binding legal document. But if you lack these elements, a contract may not be enforceable at all.
I had learned that contract is a contract enforceable by law. The promise may be to do something or to refrain from doing something. The making of the contract requires the mutual assent of two or more persons, one of them ordinarily making an offer and another accepting. The basic purpose of contract law is to provide a framework within which individuals can freely contract. The contract can legally bind the contracting parties by the creation of laws which are applicable only to the very individuals that create the contract and its subsequent legally binding laws.
Thank you so much sir for discussing us breifly the law of contract that we can used in our future life. This lecture video give us information of what contract really is and how important a contract might be. A contract is an agreement between two or more people.
I've learned that law of contract is the simplest definition, a promise enforceable by law. The promise may be to do something or to refrain from doing something. The making of a contract requires the mutual assent of two or more persons, one of them ordinarily making an offer and another accepting.
Thank you for this lecture sir. After viewing this video, I've learned what are the elements of contract and this is a big learning for me especially for our future use like having business and needs to have contract. I've also learned what our rights and obligation in creating or agreeing on a contract or what are the legal actions when one is breaching the contract.
Thank you Sir for this lecture, I learned that there is an elements of contract which is very important to know more about this contract.A contract is an agreement of two parties. If we broke the contract the other party has right to sue us under the breach contract.Written contract isveey important if we buy some insurance,cars,house and lot and etc.This learning is very important especially when we have a business in future
Thank you for this knowledgeable lecture sir. This video has thought me about the elements of contracts and agreement. That even in our simple way of living agreements are always there. Even it is verbal agreement. Contracts is a legal agreement between people, companies or etc. A document in which a word is written and agreements are made between two parties.
Sir thank you so much for doing flexible learning since we have a difficulties to reach a good internet so it became a more advantage to us to learn more. The most I've learned of this video discussion is what are the rule of the elements of contract that able to know what is my right or obligation being involved of the said contract.
In this video, I learned that a contract is a meeting of minds between two people in which one binds himself, with respect to the other, to give something or render some service. For a contract to be valid, three elements must be present: consent, object, and cause.
Thank you sir now I know about making contract what is inside the contract. when making contract or agreement to the owner and the costumer.the costumer will not scape thier obligation because of party have signed the the contract and they have witnessed ....
I've learned that it has a different types of Contract .It could be Verbal/Oral and also it ,could be Writing/written Contract .No matter what types of Contract it is ,It always Legally binding by Law .In short once you are signing a Contract or agreement between a person or company you/we are responsible to follow of what was written in the contract or agreement ,and Also the video emphasize that the contract is enforceable under the law, it means that it has a legal sanction once you fail to act in accordance of the agreement.
Thank you for this lecture sir, with this we are able to identify the elements of contract, most specially to the contract we made and submitted to our last activity. This lecture have given us greater understanding on situations where contracts are terminated ,in what situations where verbal contracts are allowed or honored and in what instances that written contracts is necessary, such us the sell of properties and insurance policy.
For me, in making of a contract requires the mutual assent of two or more persons, one of them ordinarily making an offer and another accepting. If one of the parties fails to keep the promise, the other is entitled to legal redress.
For me a contract as a meeting of minds between two persons whereby one binds himself,with respect to the other, to give something or to render some service. for there to be a valid contract, these three elements must be present:consent, object, and cause.
Thanks you sir for this video discussion of yours as ive watch the video i realize that that we need to follow what is right especially of making a contract and also securing those documents do you have incase of having an argument to the person.
After watching this video I’ve learned about the law of contract in where all contracts have several elements in common. In making a contract before you can have an agreement both of the sides agreed first about being on the contract. Also in making a contract there must be a willingness and knowledge of both sides that they are having a contract. Persons under the influence of alcohol or using drugs are not allowed to enter into a contract. Upon watching the video I’ve learned that threatening someone to agreed on the contract is not allowed and both sides should have each others consent about the contract. In making a contract it must not break any laws.
I’ve learned that contracts are promises that the law will enforce. Contract law is generally governed by the state Common Law, and while general overall contract law is common throughout the country, some specific court interpretations of a particular element of the Contract may vary between the states. always start with an offer. An offer is an expression of a willingness to enter into a contract on certain terms. It is important to establish what is and is not an offer. Offers must be firm, not ambiguous, or vague. A person who is making the offer is called the offeror.
Student Name: OBSID, MARICAR BSBA-3A
Thank you for this very informative video Sir. It help us a lot situationally. Generally, to be legally valid, most contracts must contain 2 elements which are all parties must agree about an offer made by one party and accepted by the other. And in the event of a breach of contract, the injured party may seek judicial remedies such as damages or cancellation. These provisions set the laws of the country or other forum in which disputes will be resolved respectively.
Bernard C. Calapuan BSBA-3B
In this video I learned more about the nature and capabilities of contracts in our daily life, For every contract there must have an agreement of both parties involved. Also the different elements involved in making a contract which is very common in our daily life that we use this elements without knowing it's part of the law of contract. It's very useful to have knowledge about contract to know our rights and to widen our knowledge as an ordinary citizens to basic principles of making contracts.
The law of contract is a set of rules governing the relationship, content and validity of an agreement between two or more persons (individuals, companies or other institution) regarding the sale of goods, provision of services or exchange of interests or ownership.The Civil Code defines a contract as “a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service.” For there to be a valid contract, these three elements must be present: consent, object, and cause.
Thank you sir james violon , your lecture about the law of contract I'm very interested to know about the rules, the simple contract I was really know about this ,,, besides your discussion is clear I have something to learned about the law, thank you sir .God bless you always.have a nice a day take care always.👍👍👍.
The civil code defines a contacts as a meeting of minds between two persons whereby one binds himself with respect to the other to give something or to render some services for there to be a valid contract
Thank you so much sir for this lecture video about the law of contract and its elements. Having this kind of discussion enables us to have a better background that we can apply in our business in the near future. Contracts are also valuable in our everyday lives. If you have a contract, you have the other person’s (borrower) promise to do something. If the contract is clear, you have the other person’s promise to do exactly what he or she is going to do.
contract is a legally enforceable agreement between two or more parties. The core of most contracts is a set of mutual promises (in legal terminology, "consideration"). The promises made by the parties define the rights and obligations of the parties. Contracts are enforceable in the courts.
The Civil Code defines a contract as “a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service.” For there to be a valid contract, these three elements must be present: consent, object, and cause.Aug 2, 2019
I have learned contract is an important transaction so that they state their agreement and obligation.
ARIEL A NAMUAG BSBA 3 A
The Civil Code defines a contract as “a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service.” For there to be a valid contract, these three elements must be present: consent, object, and cause.
The majority of contracts (i.e. employment agreements, leases, general business agreements) are controlled by the state's common law -- a tradition-based but constantly evolving set of laws that is mostly judge-made, from court decisions over the years. According to Pollock, Every agreement and promise enforceable by law is a contract. According to Salmond, A contract is an agreement creating and defining obligation between two or more persons by which rights are acquired by one or more to act or forbearance on the part of others.
contract is a legally enforceable agreement between two or more parties. The core of most contracts is a set of mutual promises (in legal terminology, "consideration"). The promises made by the parties define the rights and obligations of the parties. Contracts are enforceable in the courts.