7. Legality of the object – The agreement must serve a purpose that is not illegal or contrary to public policy. The traditional process of establishing a lease begins with the tenant and landlord speaking and meeting the requirements of both. Under the agreements, both parties must go to a lawyer to design a proper home rental agreement and print it on stamp paper. In some cases, this process takes time and a week to finally shape situation 4. Consideration – In English law, the agreement must be supported by a so-called “consideration”. However, Romano-Dutch legislation, which applies to Sri Lanka, does not require a “quid pro quo”. In Roman-Dutch law, it is sufficient, for a treaty, any good or valid reason expressed by the Latin term justa-causa. 1.
Agreement between two or more parties – The basis of a contract is an agreement between two or more people. Both parties must agree on the subject matter of the contract. There should be an offer and acceptance between two or more parties. Contract law deals with the legal feasibility of commitments. In this context, a contract can be described as an agreement that will enforce the law (by the Court of Justice). This notion of third-party effectiveness is essential to contract law. If you violate/violate the contract, the other party has several remedies such as; 2. The intention to take legal action – The parties must intend that their agreement will lead to legal relations A contract is an agreement between two parties that can be brought to justice (it must be borne in mind that not every agreement is a contract, i.e. national agreements, ex gratia payments). 6. In Third World countries, particularly Sri Lanka, the importance of treaties is often overlooked and many people have been victims or, in other words, have suffered the consequences if they do not have a legally binding treaty to protect their interests. Example: If a husband does not keep his promise to buy a birthday gift from his wife, the wife cannot sue the husband.
It is because the promise was domestic that the courts will not enforce if it is broken. As I said at the beginning, this article focuses only on a few important points regarding treaties and is intended to give some useful insights to other Sri Lankans. 8. Contractual conditions – Conditions, warranty period, exception clauses, etc.