Ethic Law Essay

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UNIVERSITI UTARA MALAYSIA LAW,ETHICS AND CORPORATE SOCIAL RESPONSIBILITIY ( GMUL 5063 ) Remodeling E-Contract Law: In Search of the Ideal E-Contract Model PREPARED FOR PUAN ROOS NIZA MOHD SHARIFF PREPARED BY 1.AZIZUL KAMARUDIN (814724) 2.MOHD NIZAM ISHAK (814738) 3.KAMARUAZHA MASBAH (814730) March, 2014 1.Introduction Basically contract is an integral part of our daily lives because they are constantly being entered into by individuals with other individuals or businesses, as well as business with other businesses. They provide the means for individuals and businesses to sell or otherwise transfer property, services and other rights. Further to that, the purchase of goods, the hiring of employees, the lease of apartment and etc. In this manner, the law of contracts differs from other branches of law in a very important respect. It does not lay down so many precise rights and duties which the law will protect and enforce; it contains rather a number of limiting principles, subject to which the parties may create rights and duties for themselves. Definition of contract is a promise or set of promises for the breach of which the law gives a remedy of performance of which the law in some way recognizes a duty. According to section 2(b), Malaysian Contract Act 1950, contract is defined as an agreement enforceable by law – an agreement which is legally binding between parties. As we must understand on the elements of a contract that can be refer as follows: 1.Offer; 2.Acceptance of the offer; 3.Intention to create legal relations; 4.Consideration; 5.Certainty; and 6.Capacity. However, the economic changes have been rapidly growth whereby people start venturing into a most sophisticated ways of doing business i.e. internet. Many businesses via web base had growth and thus the landscape of the law definitely will change

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