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Question: (Case Study involving consideration of sale of shares, the elements of a valid contract, agreement and the Companies Act 1985 and The Minors’ Contracts Act 1987) - Becks has lived with his girlfriend, Posh, for three years. They each contribute 50% of the council tax and house rates and have shared the other household expenses equally. Becks offered to buy for ₤10,000 Posh’s share in Big Bank plc (Full case study text within download)- Advise posh as to her legal position.

Answer: When advising Posh as to her legal position in the given scenario, I will look at each aspect of the case separately. I will determine what the legal rules are and how, if at all, they should be applied to the case in hand. In order to advise Posh as to her legal position, concerning the sale of her shares in Big Bank plc to Becks, it is of paramount importance to determine the existence, if any, of a binding contract between both parties and to what extent Posh may be bound by this. In order for a valid contract to exist, there must be present the following essential elements; agreement, consideration, and the intention to create legal relations.......(short extract)

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Details: - Mark: 80% | Course: Commercial Law | Year: 1st | Words: 2043 | References: No | Date written: Not available | Date submitted: July 16, 2010 | Coursework ID: 613

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