Aspects of Contract & Negligence for Business Assignemnt
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Added on 2020-06-04
Aspects of Contract & Negligence for Business Assignemnt
Added on 2020-06-04
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Aspects of Contract andNegligence for Business
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Importance of essential elements required for the formation of a valid contract..................11.2 The impact of different types contract...................................................................................21.3 The terms in contract with reference to their meaning and effect.........................................3TASK 2............................................................................................................................................42.1 Applying elements of contract in different case law.............................................................42.2 Applying business law terms in different contracts...............................................................52.3 Evaluating the effect of different terms in contract...............................................................6TASK 3............................................................................................................................................73.1 Similarities and differences in contrast of liability in tort.....................................................73.2 Liability for negligence..........................................................................................................83.3 Vicarious liability..................................................................................................................9TASK 4..........................................................................................................................................104.1 Elements of tort of negligence.............................................................................................104.2 Applying the elements of vicarious liability........................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONIn modern era, it is essential for organisation as well as individual to know about laws sothat they can run their business smoothly. The acts which are framed under constitution isproviding legal framework to all human beings to protect their rights against any illegal activity.In law there are many terms which can be used by person or entities such as contract law,partnership act, sales of good act etc. An agreement between two parties is significant whileforming any contract. But every agreement is also not considered as contract (Appleman,Appleman and Holmes, 2016). Agreement will be considered as a contract when there is anenforcement of law. In assignment essential elements of valid contract has been explained.Along with this different terms of contract are discussed in detail which can be used by partieswhile forming any agreement. Further different case laws have been discussed where it isshowing validity of contract. Negligence in tort is caused by failing upon act. If negligence hasbeen occurred on first person, then liability will be imposed on the other party. Along with thisvicarious liability is explained where principal is liable if any act has been done by agent. TASK 11.1 Importance of essential elements required for the formation of a valid contractA Contract is a legal tool that binds two or more parties for fulfilling specified work. It isa voluntary arrangement between different parties that is enforceable by law. A contract isconcerned with duties and rights which are there due to establishment of agreements. When allparties agree to certain terms and conditions that time contract is formed. There are few elementsthat ensures that contract is valid or not (Bashir and et. al., 2011). They are essential and if theyare absent then the agreement will be illegal. Offer and Acceptance: When one party offers a product or service to the other party it iudconsidered as offer. The proposal is made as per law and if individual accepts it then itbecomes a lawful promise that has to be fulfilled. It will have explained in followingcase:Case- Carlill vs Carbolic smoke ball co [1893]: The manufacture of a flu medicineclaimed that anyone who consumes his cure will not be affected by flu in his life and if this doesnot happen then maker will pay person 100 Pounds. The court held manufacturer when a personsuffered from flu even after consuming medicine. It ordered him to pay individual 100 pounds. 1
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