Personal Property Law Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Personal Property Law for Jimi. Answer: Issue The question in this case is to find out the legal rights which are available Jimi along with other special situations with respect to the scenario. Law A contract is formed when one party has made an offer to the other with the intention of binding the other party legally to its terms. The party to whom the offer has been made has to accept the offer within a stipulated time and such acceptance has to be unchallenged and has to be communicated to the offeree as provided by the case of Hyde v Wrench 1840. According to the case of Adam v Lindsay 1818 contradictory to the general rule of acceptance the court provided that a letter of acceptance is deemed to complete the process of acceptance as soon as it has left the control of the sender and is posted. As a general rule the parties who have signed an agreement are bound by its terms even if they have not read them. A fresh contract is needed once a contract has been discharged through execution. However in continuous business dealing there is no need for the parties to sign a fresh contract for every dealing (McKendrick, 2014). When a contractual term is breached the party whose rights have been violated is entitled to remedy. As provided by the case of Addis v Gramophone [1909] AC 488 the court seeks to put the party in a position it would have been if the contact was not breached or formed. According to the principles of agency the principle is liable for all the actions done by its agents during the course of employment. If an agent enters into a contractor induces a third party to enter into a contract with any misrepresentation than the principle would be liable to the third party for any breach of contract. Application In the given scenario it jam has been asked by Bett to pay extra money for the completion of the electric work. In order to find out the legal right of Jim it has to be analyzed initially whether a legal agreement existed between the parties. Jim had received an offer related to the electric work from rollinstone which was provided after an inspection was done by the representative of the company. Jim was not aware of the fact that the person who did the inspection was not qualified as expected. Jim had been dealing with the company from quite some time. The offer was accepted by Jim without reading it terms. According to the postal rule discussed above the acceptance of the offer was completed as soon as the letter was posted by him even through the letter did not reach the company. Thus the offer and acceptance has been complete. The advice which induced Jim to give the construction wok to the company had been provided to him by the representatives of the company even though he was not qualified. As discussed above according to the rules of agency the company is bod by the actions of the unqualified agents in this case. However it has to be noted in this case that in order to be valid an offer has to be clear and complete rough estimations cannot account to clarity and completeness. However applying the objective test provided by the case of Hyde v Wrench it can be held that as there was continuous transactions between the company and Jim he was induced by the previous offer and the representative to get into the contract. Thus if the company does not complete construction work according to the terms of the contract it would account to a breach of contract. In this situation Jim can claim compensation for the loss which would be suffered by him. Jim can also make a claim for an order of specific performance against the company by which the company would be forced to complete the construction work in time so that a loss to Jim is not caused. A property which can be moved is known as personal property. Anything which can be owed by a person such as ornaments, goodwill, vehicles except land and buildings are personal properties. Real property on the other hand is fixed and cannot be moved from one location to another. Real property is also known as immovable property. Real property includes properties such as land along with structures which are built on it. Everything which has its existence under the face of land or is growing on land is real property. Thus the difference between real and personal property is based on mobility (Wood Paulukonis 2016). Torrens system of land registration is a process of property registration which makes the government keep all records in relation to properties owned by citizens in a register so that their title cannot be challenged (Carruthers, 2015). The ownership of land is transferred in this system through a process of registration and not with the transfer deeds. The main purpose of the system is to make the transfer of land simple and to ensure absolute ownership title. Whereas the Personal Property Securities Act regulates the registration and creation of security interest with respect to personal properties within the scope of their jurisdiction. The legislation has a very wide scope as compared to that of Torrens system as all transactions which create a security inters without regard to the title or form are included in it (Bozzi, 2015). Attachments are capable of being followed by perfection create security interest. In the Torrens system the claims are generally in relation to title whe reas in the Personal Property Securities Act the claims are related to security interest. PPSA deals with personal and to some extent with real property whereas Torrens system only deals with real property. Conclusion It can be analyzed from the above discussion that in spite of the several legal problems there is a contract between Jim and the company and if not complied with Jim is entitled to claim compensation or specific performance. References Adam v Lindsay 1818 Addis v Gramophone [1909] AC 488 Bozzi, C. (2015). PERSONAL PROPERTY SECURITIES ACT.Australian Commercial Law, 203. Bridge, M. (2015).Personal property law. OUP Oxford. Carruthers, P. (2015). A tangled web indeed: The English land registration act and comparisons with the Australian Torrens system.UNSWLJ,38, 1261 Hyde v Wrench 1840. McKendrick, E. (2014).Contract law: text, cases, and materials. Oxford University Press (UK). Wood, R. W., Paulukonis, G. W. (2016). Real Property Valuation and Assessment.California Real EstateLaw Practice,11.