Advanced Contract Law & Negotiation Assignment
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University of Salford Manchester
Added on 2020-04-21
Advanced Contract Law & Negotiation Assignment
University of Salford Manchester
Added on 2020-04-21
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Running head: ADVANCED CONTRACT LAW & NEGOTIATIONAdvanced Contract Law & NegotiationName of the StudentName of the UniversityAuthor Note
1ADVANCED CONTRACT LAW & NEGOTIATIONTable of ContentsIntroduction......................................................................................................................................21. Type of Contract..........................................................................................................................22. Bargaining Position....................................................................................................................43. The Contract Clauses...................................................................................................................64. Amendments................................................................................................................................95. Information and Clarification...................................................................................................11Bibliography..................................................................................................................................13
2ADVANCED CONTRACT LAW & NEGOTIATIONIntroduction The contract is an agreement, which formed between two or more than two parties. It isformed when one party makes an offer and another party accepts the offer for performing thecontract. The contract is only enforceable when it has formed for enforceable by law andestablishes a legally binding. The contract only arises when both of the parties mutually agreeswith the terms of the agreement (Kötz, 2017). It should consist of five elements, which includesoffer and acceptance, consideration, capacity to the contract, intension to create a legalagreement and certainty (McKendrick 2014). According to the fact of the case, HEALTHY PLC and MEDIQUIP Ltd. wants to forman agreement for buying MRI scanners and installing for the company. The contract is worth £50million pounds. Therefore, for the formation of the contract, it must satisfy all the terms. It isrequired to satisfy every important element, which will help to form a valid contract (O’Leary2017). 1. Type of Contract Under the contract law, it is necessary to follow some rules for the formation of acontract. When a contract has formed for the employment or insurance or buying any house orproperty it should follow all the important elements to make a legally binding. We are requiredto follow every details of the agreement before we form the contract (Kötz, 2017). In somespecial matters, for rent agreements, mortgages or loan agreement a contract is always necessaryfor follow all the areas of law (O’Leary 2017). While the formation of law it is required toestablish a relationship between the parties. It is one the important area of law because multiple
3ADVANCED CONTRACT LAW & NEGOTIATIONof parties can enter into a contract with mentioned related topics. In a contract, all included factsmust relate with the agreement and formed between two or multiple parties. An English contract must include a wide area where it is necessary to follow up all therequirements. Those are: The formation of Contract which includes offer, acceptance, intention andconsideration (Kötz, 2017)The capacity to the formation of the contractThe contents which includes terms of the contract, exclusion and privities The vitiating factors where contract deals with misrepresentation, duress,illegality and mistakesThe discharge where a contract can faced according to the performanceagreement, breached and frustration For the discharge of the contract, remedies also applicable which includesdamages, injunction and performance (O’Leary 2017). For the formation of the contract it is required that a party must offer and another partywill accept the offer. The parties must have intention to create a legally binding contract. Thereshould have a mutual consideration for the formation of the contract. According to theperformance in the contract, it helps to the parties to communicate with each other in theagreement (Kötz, 2017). The parties who are entering into the contract must have the capacity to understand all theterms and importance of the agreement. The unsound mind person and minors have no capacityto enter into the contract (O’Leary 2017).
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