Essential Elements of Contract Law - Assignment
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Added on 2019-12-03
Essential Elements of Contract Law - Assignment
Added on 2019-12-03
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 CONTRACT AND ITS ELEMENTS...............................................................................11. Stating the importance of essential elements which are required to form a valid contractalong with the cases................................................................................................................12. Impact of different types of contract..................................................................................23. Analysis of express, implied and innominate terms of the contract with reference to theirmeaning and effect.................................................................................................................34. Application of the elements of contract as per the case scenario.......................................35. Application of the different contractual terms....................................................................46. Evaluating the effect of the different terms of the contract................................................4TASK 2 DIFFERENT LIABILITIES..............................................................................................51. Contrasting contractual liability and liability in tort..........................................................52. Nature of liability in negligence and employers liability as per the case scenario.............53. Stating the extent to which business is vicariously liable..................................................64. Elements of the tort of negligence, vicarious liability and defenses in the context of thegiven business scenario..........................................................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................9
INTRODUCTION Contract may be defined as a legal binding or relationship between two or morecompetent parties. Contracts are usually made in the written format but they may be oral orimplied. In order to form a contract, competent parties must fulfill all the essential elementswhich are required to form a valid contract (Ali and Kumar, 2015). The present report is basedupon the different case scenario. This project report will shed light on the importance of essentialelements which are required to form a contract. Besides this, it depicts the impact of differenttypes and terms of contract upon parties to a contract. In addition to this, it will state the matureof liability in case of negligence. Further, it will also develop an understanding about the conceptof vicarious liability.TASK 1 CONTRACT AND ITS ELEMENTS 1. Stating the importance of essential elements which are required to form a valid contract alongwith the casesThere are mainly four types of essential elements such as offer, acceptance, legalconsideration as well as intention to form a legal contract. Parties to the contract must fulfill allthese essential elements in order to form a legal relationship. Agreement may turn into thecontract only when it is having the following attributes:ElementFeaturesCasesOfferOffer can be defined as a proposal of any kind inwhich one party offers to another party with theintention to create a legal binding. There issignificant difference between offer andinvitation. In invitation, one party requests toanother party to make an offer in front ofhim/her.According to the case ofFisher V Bell, goods aredisplayed at the shop withthe price labels. Thisaspect is considered as aninvitation to treat.AcceptanceWhen party to a contract accepts the offer towhich offer is made then it is considered as to beacceptance. This aspect is highly essential for thelegal relationship.By referencing the case ofODF Brogden v.Metropolitan Railway Co.(1877), acceptance whichis given in written and1
other form ofcommunication is valid.ConsiderationFor the legal binding, the contract must beassociated with the lawful consideration.Consideration should be in the monetary termsrather than in any other form (Dickinson andNicholson, 2015). On the basis of case ofThomas v Thomas)(1842), court gave theirjudgment that love andbetting are also included inthe legal consideration.IntentionIn order to legally enforceable, the contract theremust be an intention between the parties to createa legal relationship (Four Essential Elements ofa Contract, 2015).Agreements which areformed at the domesticlevel are not enforceableby law according to thecase of case of Balfour vBalfour [1919].2. Impact of different types of contractThere are various types of contract which places different kinds of impacts upon theparties to a contract which are enumerated as below:Written and oral contract: Written contract is one in which all the terms and conditionsof contract are mentioned in the oral format. Written contract provides relief to aninnocent party when other party to a contract makes default in his/her performance. In thewritten contract, innocent party has the proof which they can represent in front of legalauthority (Chamallas, 2014). However, in oral contract, all the terms and conditions ofcontract are made in the verbal form. In this case, jurisdictions are not able to solve thedisputes which arise between the parties to a contract. As per the case of Brogden vMetropolitan Railway(1877), competent parties make a contract by undertaking anyform of communicationUnilateral and bilateral contract: Contract in which one party makes promise to otherparty without taking consent of it is termed as unilateral contract. In this, offeror isobliged to perform the promise which is made by him. Nevertheless, offeree has no legalobligations in order to perform the terms and conditions of the contract as per the case of2
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