Essays on Restraint Of Trade

Elements of a Valid Contract

A contract is essentially a meeting of minds, which may only occur when the following five elements are present: an offer, an acceptance of the offer, an intention to form a binding contract, a consideration, and capacity. An offer represents an intimation of the willingness to enter a contract on given terms, and must be made with the intention to be binding upon acceptance. It must be definite and certain, such that it will not necessitate further negotiations prior to acceptance (Carlill v Carbolic Smoke Ball Co., 1893). It should also look like a contract in the estimation of ...

A contract can be defined as an agreement that is private and voluntary in nature that binds at least two parties. For instance, a car buyer could enter in an agreement with the seller to pay him the agreed amount of money over a given period while the seller delivers the car to the buyer. It can be viewed as a way of ensuring a promise is kept with the use of law which is aimed at protecting the consumer. Stakeholders in sports have the need to work based on contracts which bind these parties. Sports contracts are formed ...

The Oltz v. St. Peter’s Community Hospital The Oltz v. St. Peter’s Community Hospital Anti-trust laws or statutes are of fundamental importance to the health sector, as they influence existing health care entities in several ways. Influence is significant in factors such as how the health care entities grow and expand, especially regarding their relations with medical providers and suppliers and in their own individual or group interaction. Anti-trust statutes, as found under the United States anti-trust law, pertain to a collection of both state and federal government laws that are crucial in regulating the overall ...

Business Ethics Antitrust Law

Business Ethics Antitrust Law

Introduction

The antitrust laws aim at ensuring that all businesses in a given market play by the same rules. This is so because businesses in a free market may achieve the near-monopoly status via their own merits such as creating better production processes, offering the best quality service and decreasing costs among others. However, antitrust laws set vivid boundaries for fairness in the business by prohibiting practices that control free trading. It also restrains dominant firms from abusing their market position. The antitrust laws offer regulatory review of business mergers, acquisitions and joint ventures to ensure they do ...

Business Law

1. List and explain the four (4) requirements of a valid contact and the two (2) defenses to the enforceability of a contract. Cite and explain two cases from the textbook that discuss contract law.

Agreement (Offer and Acceptance).

When one party proposes something to another, he is said to make an offer. If a party agrees to the proposal without any change in it, he is considered to have made the acceptance of that offer. An offer is always confused with an invitation to treat. Advertisements and displays in shops are the examples. They are not offers, but an invitation to treat. An acceptance must ...

Introduction

Singapore is one of the upcoming business hubs in the Asian market and continues to grow and expand in equal measures. The country is located on the southern part of the Malay Peninsula in Asia. The country has instituted various laws that seek to expand the business and protect its industry from other external markets and economies (CCH Asia Limited, 1971). The restraint of trade in Singapore has affected its local and international business organizations. Some trade laws restraint employees from joining competitors where they affect employment contracts signed by the employee for the duration of time he/she works ...

Anti-trust law aims at ensuring fair competition in business. The law proceeds from the position that the presence of free trade enables businesses to thrive, and benefits the consumers and the economy. In its quest, the anti-trust law has had far reaching effects on business practices and their organization especially in the United States. To this end, the law has evolved measures to proscribe monopolization and restraints of trade by businesses among other practices.

Reason for creating the law

The Sherman Anti-trust Act was the first piece of legislation to be enacted by the United States Congress to proscribe trusts and other non-competitive practices. ...

U.S. 211, Addyston Pipe and Steel Company v. U.S. (1899) U.S. 211, Addyston Pipe and Steel Company v. U.S. (1899) 1. Provision of the Antitrust Laws The provisions invoked in the case were sections one and two of the Sherman Act, 1890. The provisions illegalized any persons or group of persons who shall in one way or another conduct themselves in a manner that would restrain trade. The conduct includes matters of contract and or trusts. In addition, the Constitutional clause on commercial transactions between states was also invoked as being ancillary to the matters at hand. ...

U.S. v. Gypsum Co. (1950)

Question 1

This was a case, which was argued on October 19, 1950 and decided on November 27, 1950. The proceeding was actually filed in the year 1940 in District Court of United States for Colombia District by United States under the Attorney general’s authority. The complaint that was charged was a long –continued conspiracy or plot by the defendants in the restraint of trade in the gypsum products amongst numerous states and in Columbia District, and a like monopoly, all in desecration of Sherman Antitrust Act. The defendants, appellees or respondents in this case, were the ...

a) The man can protect himself by entering into contract in restraint of trade with the entrepreneur. In Esso Petroleum v Harper’s Garage (Stourport) Ltd [1968] Lord Hodson defined a contract in restraint of trade as follows; “A contract in restraint of trade is one in which a party (the covenantor) agrees with any other party (the covenantee) to restrict his liberty in the future to carry on trade with other persons not parties to the contract in such manner as he chooses.” In the covenant the man could require the entrepreneur not to deal in similar business within a ...

Law of Torts in Business

Introduction

In the laws of a country, the law of tort is concerned with how someone treats their neighbour. A person should not injure a person neither should he trespass into a neighbour’s property. Such acts are considered to be criminal in nature and the individual will be liable in a court of law. The law of torts covers a range of actions such as negligence, intentional injury and defamation that ruins an individual’s reputation. The law of torts is best illustrated by the case of Donogue vs. Stevenson. The plaintiff was with a friend in a cafeteria taking ginger beer. When she took ...