Valid Contract Law Assignment
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Added on 2019-12-03
Valid Contract Law Assignment
Added on 2019-12-03
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Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................11.1 Importance of the essential elements which are required to form a valid contract...............11.2 Impact of different types of contract.....................................................................................21.3 Analysis of the different terms of the contract in the context of their meaning and effect...32.1 Application of the elements of the contract with the context to business scenario...............42.2 Application of the different terms of the contract ................................................................52.3 Evaluating the effect of different terms of the contract ......................................................5TASK 2 ...........................................................................................................................................63.1 Contrasting liability in tort and contractual liability.............................................................63.2 Nature of liability in negligence and employer's liability with reference to businessscenario.......................................................................................................................................63.3 Ways through which business can be vicariously liable.......................................................74.1 and 4.2 Elements of tort of negligence, vicarious liability and defenses .............................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTION Contract can be defined as a legal agreement or binding which creates legal relationshipbetween two or more competent parties. Contracts are usually made by parties in the writtenform but it may be spoken or implied depending upon the nature of contractual aspects. In orderto create an agreement which is enforceable by law, parties to a contract must fulfill essentialswhich are required to form a valid contract (Brack, 2014). It includes offer, acceptance, legalconsideration and intention to create legal relationship and obligations. The present report willdiscuss the importance and essential elements of the valid contract. Besides this, it depicts theimpact of different types of contract upon the parties to a contract. This report will providedeeper insight about the concept of nature of liability of the employer in the case of negligence.It also states the application of elements of vicarious liability in the context of the case scenario. TASK 11.1 Importance of the essential elements which are required to form a valid contractParties to the contract must fulfill essential elements which are required to form a legalcontract. For the valid contract there must be offer and acceptance, legal consideration andintention to create legal obligation between competent parties. Agreement made by thecompetent parties is legally enforceable by law only when they possess following attributes: ElementFeaturesCasesOfferOffer can be defined as a proposal in which partyto the contract makes offer to another party or general public to form a legal relationship and binding. Offer highly differs from the invitation to treat. Invitation is a request in which one partyinvites other party to give offer (Chamallas, 2014).As per the Fisher v Bell good are displayed at the shop along with their pricelabels which are considered as invitation to offer instead of an offer.AcceptanceWhen offeree give consent about the terms and conditions of the contract by giving legal consideration in the form of money to the offerorthen it is termed as the acceptance.According to the case ODF Brogden v. Metropolitan Railway Co. (1877) acceptance can be written and other form of 1
communication.ConsiderationIt is one of the main elements of the valid contract. For the legal binding, there must be lawful consideration in form of money and other economical benefits. As per the contract act both the parties to the contract must be give and get smothering. Consideration in the form of kind is not valid (Lawful consideration, 2011).With reference to the case of Thomas v Thomas) (1842) love and betting arealso considered as lawful consideration.IntentionIn order to form a legal relationship there must be an intention to create legal obligation betweenparties which assure satisfactory performance from both the sides.As per the case of Balfour v Balfour [1919] agreements which are made at domestic level arenot legally enforceable.1.2 Impact of different types of contractThere are various types of contract such as unilateral, bilateral, collateral Written and oralcontract. Different types of contract places various impacts on the parties to a contract which areenumerated below:Types ofcontractFeaturesCases UnilateralcontractIn unilateral contract, one party makes promiseto another party without taking consent of it. Inthis, offeror are obliged to perform their promise.Whereas, it is not necessary for the offeree toperform the promise. If offeror repudiate thecontract then the innocent party has the right toclaim for the compensation (Horsey and Rackley,2013). In accordance with thecase of Carlil V CarbolicSmoke Ball no party areheld responsible toperform the promise.Nevertheless, if offereeperforms the promise thenofferor is also obliged toperform the same whichshe promised. BilateralcontractBilateral contract are those in which both theparties to a contract give their mutual consentConsidering the case ofMattei v Hopper2
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