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Not alone does it apply to contracts worth considerable sums of money, but the same rules govern simple contracts, such as the purchase of a newspaper, having a haircut or taking a bus journey" (Doolan, 2003)
A contract in itself doe not have to be exclusively a written agreement but it can take the form of verbal or inferred agreement. These are the three forms of contract. An inferred contract occurs where one party infers an offer and another party infers acceptance. For example, a person buying a newspaper in shop would infer that he wants to go into a contract by handing over the price of the paper...
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