ACNB Assignment on Contract Law
17 Pages5069 Words170 Views
Added on 2019-12-04
ACNB Assignment on Contract Law
Added on 2019-12-04
ShareRelated Documents
ACNB
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1...........................................................................................................................................31.2...........................................................................................................................................41.3...........................................................................................................................................5TASK 2............................................................................................................................................62.1...........................................................................................................................................62.2...........................................................................................................................................72.3...........................................................................................................................................9TASK 3..........................................................................................................................................103.1.........................................................................................................................................103.2.........................................................................................................................................113.3.........................................................................................................................................12TASK 4..........................................................................................................................................124.1.........................................................................................................................................124.2.........................................................................................................................................13CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONContract is considered as a legally binding agreement developed by the mutual consent oftwo parties. Here, the parties may be known to each other or may be strangers as in case ofsoftware companies and the downloaders of software. Such contract among parties make thecontract legal and valid. In contrast to this, there is a clear relationship among individuals whichis formed and governed by creating a valid contract (Ahmad, 2012). However, in the contractualrelationship, nature of obligation is determined by the terms of contract. Also, through enteringinto the contract, parties agree to accept the obligations. On the other hand, it can be stated thatthere is no complete freedom of contract since certain contractual terms would be restricted bystatute. For instance, as per the Unfair Contract Terms Act 1977, it can be stated that completefreedom has not been provided as there are certain restrictions. However, with regard to make acontract to be binding, the parties are required to intend and develop legal relations andcontractual obligations with their mutual consent. In the present report, different cases have been identified in order to analyse the aspectsof law of contract and tort of negligence. Study focuses upon evaluating the case scenarios ofPeter Abraham and others as well as discusses different aspects of contract and legalrelationships. Further, impact of breach of contract has been assessed and provide essentialinformation to overcome the remedies for negligence within business operations. TASK 11.1Peter Abraham is required to possess significant knowledge regarding differentcomponents to form a valid contract. Thus, it helps him to start his new venture easily anddevelop a sound relationship with different parties. In order to form a contract, soundrelationship needs to be built with individuals. Following are the importance of differentelements of contract:Offer- It plays a crucial role within every agreement and binds different parties to form avalid contract. Further, it is provided as a proposal that shows the will power of parties toperform duties, actions and obligations in an effective way (Chamallas, 2014). Offermainly involves the major content of contract and involves progressive participation ofofferor who carries out a strong bond with the offeree. Nevertheless, offer has been
provided for specific time period and it gets collapsed at the time when not accepted bythe party within particular time frame. [Harvey v Facey (1893)].Acceptance- It is another element of contract in which offer made by the offeror isaccepted in the same manner by offeree (Chen-Wishart, 2012). Further, if differentindividuals enter into the contract then they need to undertake certain conditions ofacceptance such as- 1.Terms of acceptance should be similar with the terms of offer.2.Contract needs to be certain for specific event.3.Acceptance of offer needs to be communicated clearly with the offeree. Contractual relationship- Here, it can be considered that both the parties need to be incontact with each other in order to form a contractual relationship. Further, parties whoare entering into the agreement should not possess any type of fear or pressure from otherindividuals [Jones v Padavatton (1969)].Consideration- It is considered that the contract which is taking place between partiesshould have certain legal consideration. Moreover, both the parties involved withinagreement should obtain profit either in the form of tangible or non-tangible form(Chapman, Wilder and Millar, 2014). Consideration needs to be exchanged with eachother and the promise needs to be made in writing which is signed by both partiesentering into the contract. Capacity- Capacity can be stated as state which assesses the capability of both partiesbefore entering into the contract. It is essential for the individual to be in his sound mind,above the specified age limit, etc. in order to make the contract valid.1.2Following are different types of contracts which are discussed underneath-Face to face contract and distance contract- Face to face contract is formed in thepresence of both parties and thus, they need to be agreed upon the terms and conditionsof contract. On contrary to this, distance contract involves those parties who are notphysically present to involve within contract at that particular time. In such type ofcontract, consent of offeree takes more time and thus, it comes into consideration whenboth offer and acceptance are satisfied. In order to make the distance contract successful,
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
ASPECT OF CONTRACT AND NEGLIGIENCE TABLE OF CONTENTSlg...
|15
|4926
|401
Aspects of Contract and Negligence for Businesslg...
|16
|5248
|465
Elements of a Valid Contract and Contractual Rights and Liabilitieslg...
|4
|984
|434
Essential Elements Contract law Business - Assignmentlg...
|13
|3998
|192
Essential Elements of Contract Law Assignmentlg...
|12
|4294
|33
Report On Aspects Of Contracts & Lawfulness Of Business Termslg...
|13
|4304
|357