Describe the General Nature of Contractual Relationships
Furthermore, legal obligations are inevitable elements of a contract. A contract will never exist without the obligations, actions or performances to be fulfilled. Both parties enter into an agreement or a contract to do something in exchange of something. And oftentimes, these obligations or performances are being abused by both parties due to the lack of a strong reinforcement to fulfill such obligations. It is but human nature to violate laws, break promises and destroy oaths and many times, people loves to violate all the rules no matter how valuably it is intended for their protections. The consent theory involves the transfer of rights between and among right-holders. If the consent theory therefore involves rights-transfer, the law must therefore directly intervene and set limits on how people can possibly make use of those rights and how these rights may be transferred from one person to another. Given this, there is no doubt that the consent theory is closely linked with contractual obligations as consent and the transfer of rights is a necessary pre-requisite for any contractual agreement. As stated in the article entitled, “the basic explanation on the binding characteristic of contractual commitments is mainly attributable to the very notion of entitlements or rights as well as how these rights are transferred and acquired
This exposed the company as a prominent violator of the contract act; thus Drive Yourself Company was liable for its actions. Precisely, the lawsuit against the company would succeed since it omitted the major object of contract procedures (Cassidy, 2006). This is a considerable provision in the legal contexts. Numerous institutions have strived to obey the provisions of the law when making contracts with other independent parties. These are done to avert future convictions due to breach of contracts.
If an employee does not accept the terms, he or she can decline the contract. The agency relationship replicated in this paper has affected the face-to-face dealings; the paper has highlighted the type of laws required by employees and duties of agents in different points of work.
Cassidy, J. (2006). Concise corporations law. Annandale: Federation Press
Helewitz, J. A. (2010). Basic contract law for paralegals. Austin, TX: Wolters Kluwer Law & Business
Kern, T. & Willcocks, L. (2001). The relationship advantage: Information technologies, sourcing, and management. Oxford: Oxford Univ. Press
Meiners, R., Ringleb, A. & Edwards, F. (2008). The legal environment of business. Mason, OH: South-Western Cengage Learning