Historical Background Since capitalism has existed state intervention in the economy has been an agenda of economic politics as an important issue The debate over the role of the state within capitalism reveals the different kinds of capitalism First kind of capitalism is liberal capitalism which is centered on the thought of the state as having a minimum role in the economy the second kind is o regulatory capitalism or social democratic capitalism that is centered the thought of the state as a cooperating with the regulatory and private sector and and the last one is state capitalism in which the state has a role within the market as a both entrepreneur and regulator The last 50 years covering the second and third quarters of the twentieth century have been passed with the dominance of state intervention and Keynesian economics which suggests state intervention Critical views of free market capitalism especially the great depression of 1929 came to the forefront and developed Many countries have started on protectionist nationalist industrialist moves as well as developments that capitalize on the Soviet Union s planner s conception
The issue here is whether the bilateral contracts between Crivendoe Catering CC and Sessex County hospital SCH and Crivendoe Catering and Dougal respectively are legitimate and enforceable In relation to this an offer can be defined as a statement by one party of a willingness to enter into a contract on stated terms provided that these terms are in turn accepted by the party or parties to whom the offer is addressed Furthermore acceptance can generally be defined as an expression of assent or an agreement to the terms proposed by the offeror and the acceptance of any offer must always be communicated to the offeror hence making it legally binding This principle was exemplified in the case Entores vs Miles Far East Corp 1955 In which it was illustrated that the acceptance of an offer must be communicated and must be clear and understandable in order to form a contract Lastly consideration as defined in Currie v Missa 1875 entails a valuable consideration in the sense of the law may have the presence of a profit or benefit being accrued to one party or some significant loss or detriment being suffered or undertaken by another
