1. In both cases, it is to be decided whether or not contracts exist between the parties involved for their respective courses of action. Elements of contract To be legally classified as a valid simple contract, there are three essential elements: 1)<Tab/>Agreement in the form of an offer and acceptance 2)<Tab/>Intention to create legal relation 3)<Tab/>Consideration <Tab/> …showed first 75 words of 2731 total…

…showed last 75 words of 2731 total…the Sales of Goods Act 1958 (Vic) Reference list 1)<Tab/>Sweeney, B. and O'Reilly, J., Law in Commerce, Butterworths: Sydney, 2001. 2)<Tab/>Latimer, P. Australian Business Law, CCH Australia Ltd (20th edition) 3)<Tab/>Turner, C. Australian Commercial Law, LBC Information Services: NSW 1999. 4)<Tab/>Turley, I. Principle of Commercial Law, Cavendish Publishing: Sydney, 2001. 5)<Tab/>O'Reilly, J. (2004) Lecture Note