Aspect of Contract Negligence for Business Assignment
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Added on 2020-10-05
Aspect of Contract Negligence for Business Assignment
Added on 2020-10-05
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Aspect of ContractNegligence for Business
TABLE OF CONTENTSTable of Contents.............................................................................................................................2INTRODUCTION...........................................................................................................................11.1: Importance of essential element required for a valid contract........................................11.2: Impact of various types of contract.................................................................................2M1:.........................................................................................................................................31.3: Analyse terms in contract with reference to their meaning and effect............................3TASK 2............................................................................................................................................42.1 Elements of contracts of business scenario......................................................................4D1...........................................................................................................................................52.2 Apply law on terms in different contracts........................................................................5M2...........................................................................................................................................52.3 Evaluate the effect of different terms of law on terms ad exemption clause in contracts6TASK 3............................................................................................................................................63.1: Liability in tort and liability in contract..........................................................................63.2: Nature of liability in Negligence.....................................................................................73.3: Business can be vicariously liable - explanation.............................................................7M3:.........................................................................................................................................8TASK 4............................................................................................................................................84.1: Elements of the tort of negligence and defences in different business situations...........8D2:..........................................................................................................................................94.2: Vicarious liability and its elements in business...............................................................9D3:..........................................................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11
INTRODUCTIONLaw is a system of norms, rules and acts that are created and enforced through social andgovernment bodies. There are various aspects of contract and negligence of business those areassociated with cases with imposition of penalties. This project aimed at understanding ofvarious element of valid contract and their application in different business situations is beingdiscussed under this report. Apart from this, principles of liability in negligence in businessactivities and their application within business is mentioned under this project.1.1: Importance of essential element required for a valid contractContract is a promise that are legally enforceable and if violated, allow the injured partyto access to legal remedies. Such kind of law recognises and govern the rights andresponsibilities arising from an agreement. A contract basically required an offer, acceptance,consideration and mutual commitment to be bound. In case the main elements are not in acontract, it would be an invalid contract (Ayres and Schwartz, 2014). Valid contract: It is a kind of written or expressed agreement among two parties toprovide a goods or services. A contract which satisfies every situation which are agreed by law isa valid condition. Like for example, X offers goods to Y. Y accepts X’s offers. This is a validcontact. Void Contract: A void contract is a contract which is valid when entered into a contractbut afterward become void because of impossibility of enactment, or any change in law or someother motives. Like for example, X offers goods to Y. Y accepts the offers and later on Y died.This particular contract was valid at the time of their creation or development but become voidbecause of Y’s death. Offer: It is known as primary element of a valid contract that would be offer. An offer orany promise required to be in contract because, if there is no offer than there will be no anycontract. In a contract, it is essential that a party would make a valid offer. It can be express orimplied. Like for example, X writes something to Y that he offers to sell his house to him for60000. It is considered as express offer (Blum, 2011). Acceptance: In contract law, acceptance of an offers is the act which means party isagreed to accept the proposal. After having an offer in any kind of contract there would beacceptance. For a contract to be made there would be acceptance from the another party. In casethe other party is clear with the offer simultaneously with the rules and regulations those are1
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