Introduction This report has been generated with the sole purpose of highlighting and touching base on several legal issues presented in the case of Coco and Denis. Within this report, it has been assigned to act for the plaintiff (Denis). The main issue arising from this case is whether or not there has been an establishment of a valid contract. A contract is an agreement which is legally binding between the parties (Lee Mei Pheng and Ivan Jeron Detta, 2009). The scenarios arising from this case is that Coco is offering to sell shares in ABC sdn Bhd to Denis at a price of RM2.20 per share. Denis then replied that he was willing to purchase shares a RM2 per share, in which Coco replied that she would think about it. After two (2) weeks Coco did not reply, which led to Denis writing another letter stating that he is accepting Cocos original offer, however, Coco refuses to sell the shares to Denis. With this said the issues that are addressed particulate from the elements of a valid contract, for instance, Acceptance and offer, Consideration, and the intention to create legal relations.Legal Issues

Offer and AcceptanceIn the case of Coco and Denis, the defendant (Coco) offered to sell her shares; in return, the plaintiff (Denis) would pay RM2.20 per share. Denis then negotiated that he would pay RM2.00 per share, in context; Denis has now made an offer to pay the mentioned price (RM2.00) per share, as the defendant mentioned that she would think about it. The plaintiff did not hear anything from the defendant for two (2) weeks. Acceptance from Coco must be made within a reasonable time, due to the nature of shares. In the Fraser V Everett case, the court held that acceptance for sales of shares had to be within reasonable time, taking into view the nature of the mining shares involved, which fluctuates in nature. In this case, (Coco Vs Denis), as a consequence, the court can take into account the conduct of the parties after the offer was made in deciding whether the offeree (Coco) has allowed too long time laps before accepting.

Consideration Stated in Section 2 (d) of the Contracts Act, each party of the contract must promise to do or to give something for the other side. This element of exchange is known as consideration. In other words, consideration is the price or the return for a promise that turns that promise into a legally binding contract. In the case of Coco and Denis, Coco has promised to give Denis shares in ABC sdn Bhd; in return, Denis will provide finical payment for those shares as stated by the offerer (Coco). Since Denis has made a promise to pay a certain amount, this payment is sufficient enough to be recognized as sufficient consideration, and therefore can become enforceable by the court. Intention to create legal relations Although the Contracts Act is silent on this, case law has shown the necessity of this element to form a valid contract (Nooraneda Mutalip Laidey, 2014). In order to determine the intention of the contracting parties, presumption has been made. The first presumption related to social agreement in which it is presumed that the parties did not have a necessary intention to enter into legal relations. The second presumption, in business agreements, the parties intended to face legal consequences. In this case, the selling of shares from Coco to Denis is based on the presumption of a business agreement, which implies that the agreement is legally binding. In addition, the agreement is enforceable. This verdict is based on the case of Edwards V skyways (1964), where it was held that the agreement had been made in a business context which raised a strong presumption that the agreement is legally binding. The claimant could therefore enforce the agreement and was entitled to the money (E-law resources, 2014). Reference http://www.internationalconference.com.my/proceeding/icm2014_proceeding/4thICM2014/028_099_4thICM2014_Proceeding_p323.pdfhttp://e-lawresources.co.uk/Intention-to-create-legal-relations.php