Contracts and ACNB INTRODUCTION
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Added on 2020-02-12
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4 1.2 Discuss the impact of forming contracts (as it may apply to Peter Abraham) by means of5 i. distance selling (telephone, internet) 5 1.3 Give an analyses of the following terms in contracts with reference to their meaning and effect (including remedies and damages) as it may apply to Peter Abraham.6 i. exemption clauses (including 1.2)6 TASK 26 2.1 Apply the elements of contract in the given business scenarios below (Cases 1 and 2) 6 2.2 Apply the law
Contracts and ACNB INTRODUCTION
Added on 2020-02-12
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................41.1 Explain to Peter Abraham how a contract is formed and the importance of the variouselements which has to be present to form a contract...................................................................41.2 Discuss the impact of forming contracts (as it may apply to Peter Abraham) by means of..5i. Face to face ..............................................................................................................................5ii. written contract........................................................................................................................5iii. distance selling (telephone, internet)......................................................................................51.3 Give an analyses of the following terms in contracts with reference to their meaning andeffect (including remedies and damages) as it may apply to Peter Abraham..............................6i. Condition..................................................................................................................................6ii. warranty ..................................................................................................................................6iii. innominate terms....................................................................................................................6iv. exemption clauses (including legality)...................................................................................6TASK 2............................................................................................................................................62.1 Apply the elements of contract in the given business scenarios below (Cases 1 and 2).......62.2 Apply the law on terms in the following cases (Cases 3 and 4)............................................72.3 Evaluate the effect of different terms in the given cases (Cases 5 and 6).............................7TASK 3............................................................................................................................................83.1 Explain the similarities and differences (contrast) of liability in tort with contractualliability using an example............................................................................................................83.2 Explain using suitable example how liability for negligence can arise and the conditionsneeded to be met for a claimant to successfully prove negligence..............................................93.3 Explain what vicarious liability means and how a business such as your organization canbecome vicariously liable giving example.................................................................................10TASK 4..........................................................................................................................................104.1 Apply the elements of the tort of negligence and defenses in the given business scenariosbelow..........................................................................................................................................104.2 Apply the elements of vicarious liability in given business situations below (Cases 8 and 9)....................................................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................122
INTRODUCTIONThe report will identify aspects of Contract and Negligence for Business. Various factorsare responsible for contract formation between the parties. Nowadays,for setting up any businessagreements are needed to be build so that any sort of breach in the contract can be claimedwithout suffering losses. In the study , we will come to know various elements of contract andtheir importance (Boundy, 2016). We will also study the importance of written agreement overoral agreement. The study would emphasize on applying various clauses on different casescenarios giving practical understanding of the implication of clauses. Therefore, report willpresent important aspects of contract and negligence in the business.TASK 11.1 Formation of contracts and its various important elements.A legal agreement between two or more parties is known as Contract. Any contract issaid to be valid if agreement constitutes following components:Agreement should be legal.Genuine assent of the two parties.Offer and acceptance.An objective to create unbreakable relation between the parties.Potential of the parties to act legally.Compensation to be paid for the agreement.All the agreements are not contract but all the contracts are agreement. An agreement can be oralor written and aims at fulfilling the requirement of the two or more parties without beingimposed (Katz, 1990). When there is understanding between two parties then only contract canbe formed. Parties should agree on the terms and conditions before signing the contract.Elements of a contract A contract is formed between the two parties if they have agreed on their promises andunderstood those promises. This is called as meeting of minds. A contract is valid or not courtwill check certain elements of it. These elements are offer,acceptance and consideration. 3
An offer can be defined as the proposal for another party to be a part of agreement onsome conditions. Party that makes offer is know as offeror and the opposite party thatgets offer is known as offeree. Acceptance refers to agreement on the offer offered by offeror by the offeree.Consideration, an essential component of a contract is the benefits that each part wouldreceive like property, money from the another party. 1.2 Impact of different types of contractsi. Face to face Contacts that are formed orally without writing are known as oral contracts. Advantage oforal contract is it saves time and easier to carry out as in written contract you have to performwriting . But it comes with several disadvantages. In many cases according to law, contracts thatare not in written are illegal. If opposite party disagrees on the contract was made then itbecomes very difficult to prove our side of the formation of contract. When a contract is verbal itbecomes difficult to remember each and every part of the contract . ii. written contractBoth parties have more reliability when they have written contracts. They can clearlydescribe details on which they agreed . It is better and safer to have written contracts than todepend on something said verbally (Schwartz, 2010). There are several benefits of writtencontract. These are:Written contract provides proof of what terms and conditions both parties agreed.It brings transparency and prevents disputes .It gives security with assurance for how long you have work and what you will be paid.Risk of disputes of payments , work needed to be carried out I specific time frame alsoreduces. iii. distance selling (telephone, internet)In these type of contracts the supplier and the consumer are not having face to facecontract rather they are dealing over telephone or internet etc. Their is no mediator partyinvolved in between. Consumers can purchase goods by spending as much time as they wantbefore coming to any decision. Human interaction is less in such type of contracts. Reliability isless in distance selling contract. There might be charges for the services that sup-piers may4
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