Assignment Aspects of Contracts
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Added on 2019-12-03
Assignment Aspects of Contracts
Added on 2019-12-03
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ASPECTS OFCONTRACT
Table of ContentsINTRODUCTION ..........................................................................................................................1SCENARIO 1...................................................................................................................................11..............................................................................................................................................12..............................................................................................................................................23..............................................................................................................................................24. ............................................................................................................................................35. ............................................................................................................................................5SCENARIO 2...................................................................................................................................51..............................................................................................................................................52..............................................................................................................................................63..............................................................................................................................................64..............................................................................................................................................65..............................................................................................................................................76..............................................................................................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTION Contracts are the legal documents or agreements that bound the parties involved in acompulsory obligation to fulfill the purpose of contract in the mentioned way. It is an objectwhich legally bound the parties for successful completing of terms of the contract withoutmodification or breach as it is enforceable by law (Sutton, 2010). Present report focuses oncreating an effective understanding of various elements of contracts and its implications as well. SCENARIO 11.Contract is a legally bounded agreement which comply the parties for effectiveperformance of terms tasks to enable successful completion of mentioned objective. A contractcontains certain essential elements which are:Offer and acceptance: Offer is a proposal which expresses the desire for performance ofduties and obligations. It is a proposal given by offeror to offeree for developingcontractual relations between parties (Perritt, 2010). When offeree gives his/her consentto agreement it becomes a contract. Case Reference Brogden v Metropolitan railway thecounter offer of claimant was not replied upon by the defendant which developed thecontract between the two parties thus written contract was considered valid in the casedespite of no communication from defendant. Intention: This element states the intention of parties for performing the contract to fulfillthe legal obligation is essential though it is not expressed in the written or oral form. Thecase reference Balfourv Balfour mentions that promise a husband for maintenance moneyto wide was not a valid intention to enter into a contract but was due to emotionalbonding. Thus Husband in this case was not legally bound to enter into the contract. Consideration: Contractual relation develops when the parties intend to get mutualbenefits. Consideration is the benefit that the parties will receive from fulfilling theobligations (Caiado and Salgado, 2010). Legality: The obligation of carrying out the legal actions for attaining the purpose of thecontract is significant. Contract formed for illegal activity such as smuggling, kidnapping,stealing etc is nullified instantly. Case scenario1
The case mention that Xs limited a chain of Gastropubs contacted Country pine limited(CP) for standard quotation of furniture as Xs decided to refurnish the organization. CP offeredthe quotation of £45000 for the order value. Xs gave a counter offer to the company for thisasking saying that the company would be prepared to pay £42000 for the order. The give casewithin the report clearly mentions that the contract between Xs Company and CP was valid as itefficiently fulfilled all the elements of valid contract. Moreover, the companies developed a legalobligation through the contractual liability. 2.The essential elements of contract develop a wide and effective impact on the legalrequirements and statuary obligation of a contract.(Palmer, 2014). In the given case, the partiesinvolved in the contract were Xs ltd and CP.Face to face and Distance contracts: Face to face contract as the name suggests, arethose where all the parties involved in the contract are physically present to negotiate theterms and conditions to develop a final outline of the contract (Caiado and Salgado,2010). Distance contract on the other hand are those where the parties are far apart thusthe deed of contract is not developed in their presence. The process of mailing, writing orcalling is used for creating offer and acceptance. Written and verbal contract: A written contract is a contract where the terms andconditions of the contract are efficiently written to create a legal obligation between thetwo parties (Jennings and Twomey, 2010). In case any party breaches the contracts or isunable to fulfill the purpose of the contract, the written proof is represented about all thegive liabilities. Verbal contract on the other hand is the one which is developed betweenthe two parties on the verbal basis. The mentioned case of the report clearly mentions thatthe terms of goods act were written and discussed. On the basis of the given case information, it is evident that the offer between the two companieswas written and distance contract. 3.The case given in the study describes a detailed analysis of the process of contractualobligations between Xs company and CP ltd. The organizations seeked to create contractualobligation for meeting the need of refurbishment of Xs company. Xs company seeked thequotation prices for the contract which CP replied to be £45000. Xs made a counter offer of2
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