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Contract Law is key to many issues affecting Victorians & Australians. When a promise is made, how legally binding is it? When a contract is written, what keeps it enforceable in the eyes of the law?

Lawyers Michael Scherini & Alan Parkes had a great discussion about the fundamentals of contract law in Australia to highlight some of the issues that they see recurring often.
In this clip Michael & Alan talk about Diminished Capacity - the idea that someone was not capable of entering a legally binding contract, and time limitation on certain claims- this varies from state to state, but in Victoria is a 6 year period.

For an agreement to be legally binding, the following must be present:
-Agreement: An offer is made by one party and clearly accepted by the other.
-Consideration: Both parties must exchange something of value.
-Intention to Create Legal Relations: The parties must intend their agreement to have legal consequences.
-Capacity to Contract: The parties must have the legal ability to enter into a contract, such as being of age and sound mind.
-Genuineness of Consent: Consent to the agreement must be genuine, not obtained through duress or misrepresentation.
-Legality of Purpose: The subject matter and purpose of the contract must be lawful.
-Certainty of Terms: The terms of the contract must be clear enough for a court to understand and enforce.

#breachofcontract #MelbourneLaw #Litigators

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Reach out to Scherini Lawyers for Commercial Litigation
Ph. 03 9961 3149
[email protected]
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Reach out to Alan Parkes for Criminal Law, Family Law & Intervention Orders:
https://parkeslegal.com.au/
1800 167 213
[email protected]
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Disclaimer: The information provided in this video is for general informational purposes only and does not constitute professional advice. While we make every effort to ensure the accuracy and relevance of the content, it should not be relied upon as a substitute for consultation with qualified professionals. Each business situation is unique, and we recommend seeking tailored advice that considers your specific circumstances before making any decisions regarding legal matters. Scherini Lawyers and its guests disclaim any liability for actions taken or not taken based on the content of this video.