logo

General Law of Torts | Fundamentals of the Law

8 Pages2200 Words233 Views
   

Added on  2019-12-18

General Law of Torts | Fundamentals of the Law

   Added on 2019-12-18

ShareRelated Documents
Aspects of Contractand negligence forbusiness
General Law of Torts | Fundamentals of the Law_1
Table of ContentsIntroduction ..............................................................................................................1Task 1 ........................................................................................................................1Task 2 ........................................................................................................................2Task 3 ........................................................................................................................3Task 4 ........................................................................................................................4Conclusion .................................................................................................................5References ..................................................................................................................6
General Law of Torts | Fundamentals of the Law_2
INTRODUCTIONIn modern context civil law is proved to be an important aspect of society and among them lawof contract is considered to be more appropriate for business activities as there are many disputesarises while performing business so to limit the liability and clarify all the terms between partiescontract plays an essential role (Ayres, I. and Schwartz, A., 2014.). In this project various aspectsrelated to a valid contract are explained broadly with assisted examples.Task 1 1.1Importance of essential elements of contractOffer and Acceptance: When one person stated his assent to do or to abstain from doingan act then an offer is said to be constructed and when person gives his consent to theperson who made an offer to him.Mutual consent of Parties: To make a contract it should be mandatory that both theparties have a mutual obligation and consent to enter into a contract.Intention to create a legal obligation: Both parties should bear an intention to create alegal contract between them (Furmston, M.P., Cheshire, G.C. and Fifoot, C.H.S., 2012.).Consideration: It may be in monitory form or any other form which is a kind of exchangewhile performing a contract.Capacity to contract: It means that parties who are going to form a contract must be,major i.e., greater than 18 years of age and should be of sound mind.Agreement: When promise made between two parties is comprised with an adequateconsideration than an agreement is said to be constructed. 1.2Impact of different types of contractsContract is classified between certain categories and their impacts are varied from contract tocontract:Unilateral and Bilateral contracts: Unilateral is a contract initiated from a single sidewhich could fulfil a promise of one party like rewards and contests Whereas Bilateralcontracts are made between two parties to fulfil promises from both the sides. 1
General Law of Torts | Fundamentals of the Law_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Contract Law: Validity of Contract and Refund Claim in Gaia v SuperNatural Case
|5
|1665
|243

Building Contracts: A Case Study
|14
|3873
|34

Contract Law
|5
|943
|435

Legal Problem Solving
|4
|1129
|446

Essential Elements of Agreement in Business Law
|3
|595
|168

Contract Management Process
|17
|4944
|461