DUTIES AND RIGHTS OF PARTIES OF THE CONTRACT Sellers owe the duty, subject to the express terms of the contract to: i Deliver the goods and at the right time ii Ensure that the goods supplied are of the right quantity and quality iii Pass good title to the buyer Buyers too owe the […]
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Definition of Contract A Contract is an agreement between two or more parties which creates legal rights and obligations as between the parties involved. Parties to a Contract: This is the identity given to the persons who have made an agreement that is recognized by law as a valid contract E.g. Landlord and Tenant
Formal and Informal Contract Formal contract are normally written contracts. They are usually effected by affixing a seal on a written agreement or document. Informal or simple contracts are contracts whether written or oral, which are not under seal. Oral or Written Contract Oral contracts are contract entered into by the use of spoken