Buss law Essay Example | Topics and Well Written Essays - 2250 words

Buss law - Essay Example 2. A partnership ceases to exist or in other words is terminated where the single venture that was pursued is terminated; or where the term of the partnership was for a fixed period of time, which has lapsed; where it is consequently found that the partnership is illegal or for an illegal purpose; or where a court grants an order to one of the partner. 3. The courts in Barclays Bank v. O’Brien1 have classified undue influence into two classes; the first is actual undue influence where the claimant has to prove that the offender had used undue influence on the claimant to enter into the particular transaction. In the second class that is presumed undue influence, the claimant only has to prove that there was a relationship of trust and confidence which has been breached; there is no need to prove actual undue influence, once a confidential relationship has been established. 4. A lessee is under a duty to abide by the leasehold covenants which have been agreed upon in the agreement. Further the lessee has to maintain property so that third party entering the premises does not get affected from such non-maintenance. 5. Under the Statute of Frauds 1677 it has been clearly stated that contracts of surety must be made in writing and should be duly signed. However there are two exceptions which might be said to be relevant to surety, the first one is where there has been part performance and the second is where the defendant addresses the existence of a contract under an oath. 5 The general formation of a contract requires an offer (that is a definite promise to be bound by the contract provided that that certain terms and conditions are fulfilled), acceptance (an unequivocal intention to abide by the offer from the offeree), intention to create legal relations and certainty. S.40 (1) of the Law of Property Act 1925 (repealed by s.2 of the Law of Property (Miscellaneous Provisions) Act