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(DOC) Aspect of contract and negligence for the business

   

Added on  2019-12-03

12 Pages4011 Words155 Views

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Importance of the essential elements for the formation of the valid contract........................31.2 Impact of different types of the contract................................................................................41.3 Meaning and affects of different terms of the contract..........................................................4TASK 2............................................................................................................................................52.1 Application of all essential elements of the contract in the given case scenario...................52.2 Application of different terms of Law in distinct contract:...................................................52.3 Meaning and affects of the of different terms in a given contract.........................................6TASK 3............................................................................................................................................63.1 Contrast liability in Tort with contractual liabilities..............................................................73.2 Nature of Liability of Negligence..........................................................................................73.3 Explanation of how business can be vicarious liable.............................................................7TASK 4............................................................................................................................................84.1 Elements of the tort of negligence and defences in different business situations..................84.2 Apply the elements of vicarious liability in given business situations..................................9Conclusion.....................................................................................................................................10References......................................................................................................................................112| P a g e

INTRODUCTIONThe present report is about the Aspect of contract and negligence for the business. In thepresent era every person has some problems even some people don’t know how to face thecertain situation but by the use of laws and rules it is much easier to deal with different types ofcircumstances. By having at least a basic knowledge and awareness about the business law, noone can play with other people. This research comprises different types of law which are helpfulfor different type of situation and contract. The study includes different elements of the validcontract, tort law and its liabilities. Along with this investigation discusses distinct case and theirsituations legal issues on the basis of the tort law and valid contract. Including this various tortliabilities and its principles are also describing in the following paragraph of the report.TASK 11.1 Importance of the essential elements for the formation of the valid contractAll that agreements which are enforced by the law is called valid contract. The presentcase is about the valid contract and its essential elements. Importance of some essential elementsfor the formulation of the valid contact is given below:Offer and Acceptance: It is very crucial and important element for configuration of validcontact without legal offer and acceptance a contract cannot be valid or applicable forlaw. This constituent shows a legal offer by one party and an official acceptance byanother party (Brand and Davenport, 2012). Legal consideration: Legal consideration can define as one party is agreed on the sameprice which is offered by the other party. Presence of lawful contemplation is veryessential for a valid contract. Lawful object: Object of the valid contact must be lawful and clear for both parties.Without an authorized and apparent object a contract cannot be valid or official.Legal Relationship: for a valid contract both parties must have a legal and officialrelationship by following various requirements of valid contract. Societal and familialagreements do no not consider in legal relationship.3

Legal Formalities: As per the contract law there are some legal formalities which areessential for a valid contract, such as registration and money transaction with bill receipt,etc (Tomprou and Nikolaou, 2011).Free consent: Free consent is very essential for a valid contract and for a free consent itis required that both parties are agreed on the same thing in a same sense. But in somecases such as scam and deception there is no free consent. Capacity of parties: In a valid contract both parties must be capable for a legalagreement.Certain and meaningful agreement: A valid contract required a meaningful, clear,certain and significant agreement which is attuned by both parties (Donohoe, 2009). 1.2 Impact of different types of the contractThere are different types of contract such as face to face contract, written, distance sellingand exchanging by email or fax. All this type of contract affects terms and validity of a validcontract. As per the given case Bob is a person who wants to buy a book which is displayed inthe Sam’s book store. He collects that book from exhibit and go to counter for make payment.But Sam says him that this book is already sold to the Carl but forget to remove it from display.As per the given situation there is no essential element of valid contract between Bob andSam. There is no offer and acceptance, free consent, legal transaction and lawful consideration.Thus, both parties cannot take any action regarding the agreement (Tikkanen and Kaleva, 2011).1.3 Meaning and affects of different terms of the contractA valid contract includes different terms such as conditions, warranty, expressed andimplied terms and exclusion clauses. Expressed terms are those terms on which both parties areagreed at the time of contract formation. In the expressed term there is no obligation on bothparties to agree on all conditions. On other hand implied terms are those terms which areincluded in the agreement as per the rules of contract. In the implied term as per the agreementboth parties are obliged to agreed on such terms. Conditions and warranties are included by bothparties on some specific situation and it focuses on the restriction of liabilities in any time ofdamages and injury on these situations. Exclusion clauses help in excluding the liabilities of theparties in some specific situations. Due to the absence of the different essential elements of the4

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