10

use the case study below

Question 1

Remedies:It is submitted that where the terms of the contract have breached, then the aggrieved party is entitled to the compensation from the other party. Under the common law remedies, the aggrieved party can seek the equitable remedies for the breach of the specific performance or can seek the injunction of the contractual breach, but if both these are not available then it is the discretion of the court to award the reasonable damage or compensation as the matter of right to the aggrieved party to contract. As per 2-701 of Uniform Commercial Code, the remedies for breach of the collateral contract are not impaired (Schwartz and Scott, 2003). It is furthermore submitted that it is the well-settled law that the remedy available for the breach of the collateral contract is not the same as like of the main contract. But the party aggrieved from the breach of the collateral contract can take up the matter before the appropriate court and the court if found that the plaintiff has the prima facie case, can order the defendant to pay some compensation or damages for the breach of the collateral contract. So, from the facts above and circumstances, it is prima facie established that the Visit Victoria was expecting the influx of visitors but due to an eruption of volcano the tourist could not come which results into the inflation in the business of the Visit Victoria. It is submitted that it is prima facie established that the Visit Victoria had agreed to pay $50 additional per day per car but refused to pay after that which itself proves that the Visit Victoria had breached the terms of the contract and liable to pay compensation as well as damages to Gareth.

Conclusion:In the end it is concluded that a collateral contract is one that is a subsequent agreement that relates to the master agreement. It is used to insert an purpose that the goods purchased by the claimants must reflect the statements made before the contract came into force as to their durability and quality.That though there is not the specific remedy under the Uniform Commercial Code and Australian Contract law for breach of collateral contract but it is up to the courts to decide the remedy for the breach of the collateral contract.?Remedies:It is submitted that where the terms of the contract have breached, then the aggrieved party is entitled to the compensation from the other party. Under the common law remedies, the aggrieved party can seek the equitable remedies for the breach of the specific performance or can seek the injunction of the contractual breach, but if both these are not available then it is the discretion of the court to award the reasonable damage or compensation as the matter of right to the aggrieved party to contract. As per 2-701 of Uniform Commercial Code, the remedies for breach of the collateral contract are not impaired (Schwartz and Scott, 2003). It is furthermore submitted that it is the well-settled law that the remedy available for the breach of the collateral contract is not the same as like of the main contract. But the party aggrieved from the breach of the collateral contract can take up the matter before the appropriate court and the court if found that the plaintiff has the prima facie case, can order the defendant to pay some compensation or damages for the breach of the collateral contract. So, from the facts above and circumstances, it is prima facie established that the Visit Victoria was expecting the influx of visitors but due to an eruption of volcano the tourist could not come which results into the inflation in the business of the Visit Victoria. It is submitted that it is prima facie established that the Visit Victoria had agreed to pay $50 additional per day per car but refused to pay after that which itself proves that the Visit Victoria had breached the terms of the contract and liable to pay compensation as well as damages to Gareth.

Conclusion:In the end it is concluded that a collateral contract is one that is a subsequent agreement that relates to the master agreement. It is used to insert an purpose that the goods purchased by the claimants must reflect the statements made before the contract came into force as to their durability and quality.That though there is not the specific remedy under the Uniform Commercial Code and Australian Contract law for breach of collateral contract but it is up to the courts to decide the remedy for the breach of the collateral contract.?Remedies:It is submitted that where the terms of the contract have breached, then the aggrieved party is entitled to the compensation from the other party. Under the common law remedies, the aggrieved party can seek the equitable remedies for the breach of the specific performance or can seek the injunction of the contractual breach, but if both these are not available then it is the discretion of the court to award the reasonable damage or compensation as the matter of right to the aggrieved party to contract. As per 2-701 of Uniform Commercial Code, the remedies for breach of the collateral contract are not impaired (Schwartz and Scott, 2003). It is furthermore submitted that it is the well-settled law that the remedy available for the breach of the collateral contract is not the same as like of the main contract. But the party aggrieved from the breach of the collateral contract can take up the matter before the appropriate court and the court if found that the plaintiff has the prima facie case, can order the defendant to pay some compensation or damages for the breach of the collateral contract. So, from the facts above and circumstances, it is prima facie established that the Visit Victoria was expecting the influx of visitors but due to an eruption of volcano the tourist could not come which results into the inflation in the business of the Visit Victoria. It is submitted that it is prima facie established that the Visit Victoria had agreed to pay $50 additional per day per car but refused to pay after that which itself proves that the Visit Victoria had breached the terms of the contract and liable to pay compensation as well as damages to Gareth.

Conclusion:In the end it is concluded that a collateral contract is one that is a subsequent agreement that relates to the master agreement. It is used to insert an purpose that the goods purchased by the claimants must reflect the statements made before the contract came into force as to their durability and quality.That though there is not the specific remedy under the Uniform Commercial Code and Australian Contract law for breach of collateral contract but it is up to the courts to decide the remedy for the breach of the collateral contract.?

1. All agreements are ------------------ if they are made by the free ______ of parties

______ to contract, for a _____ consideration and with a lawful object, and are not

hereby expressly declared to be ______.

2. A_______ contract depend on the _____ of the future _____ event can be enforced when the event

3. On the ______ of an offer by a _____ both the _____ and offeree becomes ______ by the contract

4. Examples of parties that can not be competent to a contract in business law.

5. When the _____ of a party is obtained by ______ undue influence, fraud or ______, the contract is ______.

6. how can an _______ offer in a contract lapse ___

7. Ordinarily, a ______ agreement is _____ .

8. The ______ to commit ______ amounts to ______.

9. On the valid ______ of the contractual _______ by the _____, the contract is _____.

10. In case of ______ breach, the aggrieved party may treat the contract ______.