contract

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A contract is a legally binding document that recognizes and governs the rights and duties of the parties to the agreement. A contract is legally enforceable because it meets the requirements and approval of the law. A contract typically involves the exchange of goods, service, money, or promise of any of those. "Breach of contract", means that the law will have to award the injured party either the access to legal remedies such as damages or cancellation.In the Anglo-American common law, formation of a contract generally requires an offer, acceptance, consideration, and mutual intent to be bound. Each party must be those who are binding by the contract. Although most oral contracts are binding, some types of contracts may require formalities such as being in writing or by deed.In the civil law tradition, contract law is a branch of the law of obligations.Each country recognised by private international law has its own national system of law to govern contracts. Although systems of contract law might have similarities, they may contain significant differences. Accordingly, many contracts contain a choice of law clause and a jurisdiction clause. These provisions set the laws of the country which will govern the contract, and the country or other forum in which disputes will be resolved, respectively. Failing express agreement on such matters in the contract itself, countries have rules to determine the law governing the contract and the jurisdiction for disputes. For example, European Member States apply Article 4 of the Rome I Regulation to decide the law governing the contract, and the Brussels I Regulation to decide jurisdiction.

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  1. jwelchnz

    VIC Breach of consumer contract and email agreement

    Good Evening, I need assistance with an issue I have regarding my loan contract with a finance company. I currently have a secured car loan and I have breached the contract. Due to Covid-19 I moved back to NZ and the vehicle I also exported home with me while continuing to make car...
  2. W

    NSW Resignation Payout/ Individual Contract

    I am employed in an executive position under an individual contract. I decided to retire at the age of 63 and provided formal notice to my employer as required by my employment agreement (EA). One week before I finished, my employer advised me that they had cashflow problems and could not pay me...
  3. B

    WA Who is responsible for the financial loss incurred where a sold item is lost/stolen and the buyer never receives the good/s purchased?

    ⁠Here is the problem: Person A , the seller, offers for sale on social media a luxury item (eg, watch or jewellery) for sale and Person B, the buyer, agrees to the price which includes shipping to his/her place of residence. Money is transferred to the seller and the item is then shipped by the...
  4. N

    NSW Gym Contract Enforcement

    Hi all, I signed a gym contract that states I get a special 20% ongoing discount through a third member organization as well as further 10% gym discount for the first 16 weeks. They have only given me the 10% gym discount for the first 16 weeks with the third member organisation saying they are...
  5. C

    WA HIA fixed price building contract - builder increasing price after construction starts ?

    Hi building a first residential house in WA standard HIA fixed price building contract thru large project builder. Slab is laid construction underway. We have a 5% price rise which is being charged due to clause 3a (attached) as there was a delay to start construction beyond 45 days. The delay...
  6. B

    Termination of unconditional property contract

    My partner and I entered into a property agreement in QLD as buyers and made an offer after a first viewing in early April. We decided to forgo the pest and building inspections given that we have limited time as we have to move out of our current home and the contract was signed with the...
  7. I

    Contract Breach

    I started working for a new company as a draftsperson. That is my job title. In the contract it stated initial factory work. I have been working in the factory for over 5 weeks. I spoke to my boss and asked when I will be heading into the office and he said we don’t have a date at the moment...
  8. A

    VIC Contract flipping

    Hi there good people of real estate know how, I am looking to learn about property contract flipping. Problem is, the information I have so far obtained is from international sources which are not compatible to Australian laws and regulations. What are the laws and regulations for Victoria...
  9. uday463

    Student Visa to TSS482 Visa - Signed contract to pay VISA expenses

    Dear sir, I am an international student with 12+ years of experience in cybersecurity. I got a job to work in an IT company and signed a contract saying that if I leave the job then I have to pay all the visa expenses raised for the TSS482 visa. I am leaving this job because my visa still not...
  10. Monksley

    VIC Understanding Business advocacy contract

    Hi, I've involved the accountant who's also providing business advocacy services and we have signed the contract that he would help us to negotiate the best purchase price of the existing business that we found. For the negotiation service, an invoice of $5,000 is payable upfront, with the...