Aspects of Contract & Negligence for Business Essay
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Added on 2020-07-23
Aspects of Contract & Negligence for Business Essay
Added on 2020-07-23
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Aspects of Contract andNegligence for Business
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Importance of necessary elements for a valid contract ........................................................11.2 Impacts of different types of contract...................................................................................21.3 Analysing terms of contract .................................................................................................4TASK 2 ...........................................................................................................................................52.1 Elements of contract according to the given business scenario ...........................................52.2 Law on terms in different contracts......................................................................................62.3 Effects of different terms of laws .........................................................................................7TASK 3............................................................................................................................................83.1 Contrast between tort and contractual liability ....................................................................83.2 Nature of liability in negligence............................................................................................93.3 Vicarious liability by a business...........................................................................................9TASK 4............................................................................................................................................94.1 Elements of tort negligence...................................................................................................94.2 Elements of vicarious liability ...........................................................................................10CONCLUSION .............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONContracts are defined as agreements which are bounded by law between two persons inorder to make healthy relations. The contracts should be legal and parties which are involved inthis should be considered. If this is not accepted by any of the firms then they are not called ascontracts. If all the above factors are combined then proper definitions are formulated thatcontracts are termed as written prof of evidences which satisfies the will of parties as they acceptthe proposal of another party (Appleman, 2015). In this process proper agreements are made andthe elements are having capacity to fulfil all the needs and desires of customers this is done inrelation to paying some amount for this process. This report is based on analysing essentialelements of a contract to become valid, applying elements in business situations,rules andregulations in negligence of organisational activities, principle of liabilities in neglectingbusiness concern.TASK 11.1 Importance of necessary elements for a valid contract Contracts are reflected as the agreements which are bounded by laws between two ormore parties. The contract to become valid requires offer. Legal approvals are must for makingan offer. It will not result in becoming contract if any of the party rejects this offer. This isenforced by the law of land if they are accepted by both the parties (Decock, 2012).An offer can also be legal if they are dealing in drugs as these are not considered as thelawful acts. This act is treated as illegal thus they should not be counted under any terms of laws.Thus it can be evaluated that all types of contracts are termed as agreements but all agreementsare not classified under contracts. The agreements can be described as:It is always made with approval of both the parties.They are in written documents and not in the verbal formats.This is classified under the act which are made with the help of any legal bodies orgovernment authoritiesIf all the above elements are considered then agreements can be called as a contract. Allsteps and plans have to be followed which are essential for making contracts which are enforcedby the laws. The elements which are needed for making a lawful binding agreements aredescribed as:1
Offer: When one party makes an appeal to another then it is called as an offer.Acceptance: It is when both the parties who are involved in the contract accept terms andconditions of the offer.Two Parties: There must be two parties who can accept or reject the offer as deal ismade between the two groups.Free Consent: It implies that the decision taken by the party should be according to theirwill. They should not be forcefully taken under any pressure.The agreements should not be be declared void by the law of land.Lawful Consideration: It states that something should be generated in return. It impliesthat both the parties which are involved in the contract are liable to get anything in returnfor the promises they had made with each other. These objects should be real and lawful.All the above elements are needed in order to turn agreements into a valid contract. Thisis valuable in promotion of all the activities which are classified under laws in relation tomovable and non-movable elements. If these are not achieved then there will a situation in whichone person will sue another. This is meaningful in making promotion of compensatory activities.Thus, it can be evaluated that all the things should be complied in a lawful way in order to makea contract valid (Rawash, 2012).Example: If two parties are involved in purchasing of a car then they will make freeagreements with there mutual consideration. If any one of the parties found that the papers of thecars were incomplete in this case it lead to situations where the valid contacts are turned intoillegal formats. In this case, one party can sue another one.From the above illustration, it can be implied that if any one of the conditions are notfulfilled then it can make a contract void. This is helpful in analysing all the illegal activities inrespect of cars.1.2 Impacts of different types of contractVarious contracts are useful in the promotion of legal activities of business. The rights ofdifferent class of people can be protected with the help of these contracts and they are savedfrom getting cheated by any person. These can be achieved with the help of various activitieswhich are related with court room. Contract can become void if there are any type of illegalelements found in the act. It is helpful in the reducing chances of fraud. This results in leading asafe and healthy life of people.2
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