Aspects of Contract and Negligence for Business
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Added on 2020-07-22
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Aspects of Contract and Negligence for Business TABLE OF CONTENTS INTRODUCTION 1 TASK 11 1.1 Explaining to Peter Abraham how the way a contract is formed and the importance of the various elements which has have to be presented to form a contract 1 1.2 Impact of forming contracts2 1.3 Analysis of the following terms in contracts3 TASK 23 2.1 Applying the elements of contract in given business scenarios3 2.2 Applying the law on terms in following cases4 2.3 Evaluating the effects of different terms in given
Aspects of Contract and Negligence for Business
Added on 2020-07-22
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Aspects of Contract and Negligence forBusiness
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Explaining to Peter Abraham how the way a contract is formed and the importance of thevarious elements which has have to be presented to form a contract.........................................11.2 Impact of forming contracts..................................................................................................21.3 Analysis of the following terms in contracts.........................................................................3TASK 2............................................................................................................................................32.1 Applying the elements of contract in given business scenarios............................................32.2 Applying the law on terms in following cases......................................................................42.3 Evaluating the effects of different terms in given cases.......................................................5TASK 3............................................................................................................................................53.1 Similarities and differences (contrast) of liability in tort with contractual liability..............53.2 The way liability for negligence can arise and conditions needed to be met for a claimantto successfully prove negligence.................................................................................................63.3 Vicarious liability and the way a business can become vicariously liable...........................6TASK 4............................................................................................................................................74.1 Apply the elements of the tort of negligence and defences in the given business scenarios74.2 Applying the elements of vicarious liability in given business situations............................8CONCLUSION................................................................................................................................8REFERENCES .............................................................................................................................10
INTRODUCTIONBusiness runs on contracts. Whenever two parties enter into a contract, they agree onfollowing certain agreements that are made in between them. Contract are agreements that aresigned by two parties which obliged them to follow specific duties that are enforced by the law.Neglecting a contract means not fulfilling what has been stated in it by either party (Vidat, 2014).On the basis of contracts, trade is done by business. A contract is a legal notice showing alldetails and information of terms and conditions. It shows two parties who want to come togetherfor performing of specific purpose. This assignment will show how contract is formed andvarious elements of it. Also, impact of forming contracts on business will be discussed alongwith explaining different terms used in contracts. Moreover, it will show what vicarious liabilitymeans and how business can become vicariously liable. TASK 11.1 Explaining to Peter Abraham how the way a contract is formed and the importance of thevarious elements which has have to be presented to form a contractWhen offerer makes an offer to another party, it states the terms of entering into contractby both parties (Manap, Hanna and Siththi, 2017). Before accepting the offer, its terms andconditions must be clearly understood. Also, offer should be clearly expressed so that it willbecome easy for other party to accept it. A contract starts by offering an offer. Besides this, anoffer can conclude rejected, accepted, lapse or withdrawn at time. Acceptance of offer must beclearly stated or communicated to other party in written or orally. Written can be done throughpost. A contract made is always enforced by law. If any contract is made for social purpose,then it is not enforced by law unless it is mentioned in it. But on the other hand, business andcommercial contracts are always enforced by law (Chong and Tsai, 2017) It is because; it ismade for specific purpose to be fulfilled by both the parties. A contract is valid for a particulartime period till consideration exists in between them. Consideration may in the form of profit oran act of performance. Along with this, there are certain things that are considered in it. They are1
consideration that should always move away from the promise. It must be in terms of beingpresent. Consideration is an essential element in contract. It describes thevalidity and relationshipsof contract. Each party should clearly specify their purpose while entering into a contract.Furthermore, a person must attain legal age to get entered into a contract. If not then contract willbe not be valid and enforced by law. Apart from this, capacity will not be damaged with undueinfluence at the time of entering into a contract. 1.2 Impact of forming contractsBusiness may enter into the contract for various purposes. For this, there are differenttypes of contracts that are available to them (Silva, Santiago and Martins, 2016). It can be usedfor specific purpose. Also, it helps business to select contract on the basis of their purpose.Various contracts are as follows:- Face to face contracts- In this, contracts are made when both the parties are presented. Along conversation is done by both the parties. A contract is offered under the same conversation.It has become very difficult to enforce such contracts as there is no written proof avaiable. It canonly be enforced by hearing and saying.Distance selling contracts- It is a contract that is done by parties to sell product to oneanother from a distance. In this neither party is presented in front of each other. A contract isdone when distance seller makes an offer to other party to enter into contract (Bird and Park,2015). For this, a specific time is given to accept that offer. The other party communicates it ifinterested. Communication is done in written form to avoid the confusion. Distance sellingregulations are responsible for regulations of these contracts. Various details should be enteredby selling party such as time of delivery, quality and quantity of product, tax details, etc. thesecontracts can be done by both telephonic and internet. Written contracts- It is the most common type of contract that is done by business.These contracts are generally done in when purpose is same. Also, not fulfilling contract needscan put a direct impact on the business to a great extent. In such contracts, terms and conditionsare mentioned in writing. (Subramanian, 2017). Thus, it can be easily enforced by the law. Theterms and conditions can be presented as a proof in court in case of breach. 2
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