Legal problem question Essay Example | Topics and Well Written Essays - 1500 words

Legal problem question - Essay Example The aforementioned details should be fulfilled during the first 6 weeks of the contract, as stipulated in it. It is noteworthy that prior to the execution of the contract, Amy advised the Blundell sisters that she had entered into a lot of contracts in the music industry and that she has the capacity to â€Å"really make them known in Queensland, Australia and the world†. However, the contract is already on its seventh (7th) week but none of the provisions in the contract has been accomplished. Worse, Amy has a falling out with the head of Australia’s biggest country record label rendering it unlikely for the sisters to secure an album as scheduled in their contract. It is therefore the Blundell sisters’ problem what to do with the contract they have with Amy knowing that she failed to fulfill its provision and is seemingly impossible to ever accomplish all the other salient portions of it. The termination of the contract is the most likely solution to this probl em. ... Under a contract, the parties involve would be consist of a promisor, who makes a promise, and a promisee, who is the recipient of the promise.1 Case at hand is a type of formal contract. The main elements in any binding contract would the intention to go into a binding legal relation by the parties involved, the agreement or the offer and its acceptance, the contract’s consideration, which is a promise or an act by a party in exchange for the other party’s act or promise, and finally, a genuine consent by the parties involved. When these elements are proven to exist, it can therefore be declared that the contract is binding. There are many ways to void a contract, e.g., mistakes, duress, unconscionability, undue influence, etc. This paper will however focus only on the pertinent legal actions possible for the aggrieved party to terminate and void the contract from the promisor. The Contract Law provides for the voiding of a contract by reason of misrepresentation. A mi srepresentation is made if there are statements made before the execution of the contract that led to its formation. The representation made by one party is done to induce the other party to agree to enter into contract, thus making it a false representation. Misrepresentations can become cause for action leading to breach of contract or misleading conduct among others. There are three categories of misrepresentation two of the applicable ones are the fraudulent and the negligent misrepresentation. The former refers to the maker of the statement who purposefully or recklessly made an untrue statement that resulted into the execution of the contract. The latter is based on the