“Promises are made to be respected but not all breach of such promises gives right to a remedy in Law.” The creation, Transfer and disposition of property rights through promises is the measure concern of the Law of Contract. A contract is a promise or a set of promises for the breach of which the law gives a remedy or performance of which the Law recognises as a duty. In other word, a contract obligation is a legally enforceable promise. The Restatement of Contracts defines a promise as an undertaking “however expressed, either that something shall happen or that something might not happen, in the future.”
When parties enter into a contract, they by mutual assent, “fix their own terms and set bounds upon their liabilities.” The expression of the terms of the contract must be in compliance with the rule of law thus a limitation to the notion of parties fixing their own terms and setting their own liabilities. The basic requirements for a valid contract are:
An agreement which consist of an offer by one party and an acceptance by the other. Consideration, which is the price paid by each party to the other or what each party receives or gives up in an agreement. Competent parties, which means that the parties must possess legal capacity to contract (be of legal age and sane) pr the contract may be avoided by the party lacking capacity.
A legal purpose consistent with law and sound policy. Three basic remedies are afforded for the breach of contract: damages, specific performance and rescission. In general, these remedies are exclusive, and a party is required to elect one of the exclusion of others. In particular, the “aggrieved party” have the privilege to recover damages in addition to one of the other damages. Money damages are recoverable in a court of law; specific performance and rescission are equitable remedies. Although damages are always recoverable for a loss sustained as the result of a breach, the equitable remedies are not so readily available and will be allowed only if the remedy at law by way of damages is not an adequate one under the circumstances of the case.
Specific performance is a remedy that requires that the party who has breached actually do what he had agreed to do under the contract. Rescission is disaffirmance of a contract and a return of the parties to the position each occupied prior to entering into the contract. Contact us incase of breach of contract for Muluh & Partners is at your service and if need be, do not hesitate contacting us via email@example.com or call +237 9639 4603 or +237 3342 9575
MULUH & PARTNERS’ extensive experience in litigating contract disputes places us in a strong position to advise effectively on the drafting of various types of contracts. We bring this experience to bear in drafting clauses which will truly protect the client in all situations and which will take into account recent changes in the law.
Our expertise permits us to draft and advise clients on many types of contracts, including the following: