Aspects of contract under UK law
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Added on 2020-01-07
Aspects of contract under UK law
Added on 2020-01-07
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ASPECTS OF CONTRACT
TABLE OF CONTENTSINTRODUCTION .........................................................................................................................31.1 important elements which are needed in formation of contract ............................................31.2 Types of legal contract and their effects on individuals.......................................................41.3 Different terms of contracts and their impact........................................................................5TASK 2 ...........................................................................................................................................62.1 elements of legal agreement in given business scenarios......................................................62.2 Various terms of contact.......................................................................................................62.3 Effect of law terms in given situations..................................................................................7TASK 3 ..........................................................................................................................................83.1 Contractual liabilities and their relation to Tort liability.......................................................83.2 Negligence and their liabilities..............................................................................................9Negligence...................................................................................................................................93.3 Business can be vicariously liable.......................................................................................10TASK 4 .........................................................................................................................................104.1 factors of tort negligence in context to various situations...................................................104.2 factors of vicarious liabilities in context to different types of situations.............................11CONCLUSION .............................................................................................................................12REFERENCES..............................................................................................................................132
INTRODUCTION In UK there are different types of laws and regulation which apply on individual beforemaking ant type of contract. There are several aspects of contract which need to be fulfilled inorder to make valid contract. A contract can be defined as legal agreement which take place inbetween two or more than two parties. It creates legal responsibility for each individual who areinvolved in making contract (Berger and Lester, 2015). The present report is based on the aspectsof contract under UK law and describing elements which are involved in making valid contract.This report make analyze of different types of business situation which are given such asdifferent types of legal terms which are used for making contract. In addition, it makes analyzeonContrast liability in tort with contractual liability.1.1 important elements which are needed in formation of contract Contract is a deal . We can write it or read it. Term of contract can be official orunofficial. It can also be describe as agreement between two parties. Mainly there are six type ofessential elements of contracts which make it valid. Following are important element ofcontract (Bowyer, 2016).Offer It is type of promise which make by one party towards another party. It is also called ashalf agreement and if another persons agrees then can combine both parties. A offer must becertain and valid.AcceptanceAnother element of valid contract is acceptance. A offer can be called agreement unless iris accepted by other party. To make contract valid it is important that to make acceptance byparties to whom offer is presented without any condition (Berger and Lester, 2015)..ConsiderationIn order to make contract valid there must be consideration. In exchange of promiseconsideration is important (Connolly and Hoar, 2014). Consideration must have some value socontract become valid. Intention to create legal relation 3
All the contract which are made in between two or more than two persons. It is importantthat follow all legal requirement. Aim of both the parties is to maintain legal binding througheither express or implied contract.CertaintyThe most important element of agreement is its surety. The therm and regulation isgoverned in contract must be implied by both parties of contract. And in case contract has nosurety then it is not justifiable. Capacity Parties which have legal ability to do contract is known as capacity in contract In thecapacity of contract it is important that both the parties have more than 18 years and havecapacity of contract (Costello and Hancox, 2014). Capacity means that person should understandcondition of agreement.1.2 Types of legal contract and their effects on individualsIn UK, various kinds of agreements are applied to every individuals who are makingcontract. Each contract consists with different types of condition and have different impact onboth parties. Following are the types of contract and their impact.Valid contract A valid contract is defined as justifiable if it is governed by law and all importantcomponents are are present in it. A contract should be officially combined and in this allimportant aspects of agreement should be involved. Impact of this type of contract is that itcreate legal restriction on both parties in which contract have been prepared. Voidable contractLegality of contract becomes over if the consent of one part is not free and this is knownas voidable contract. A agreement is declared voidable if it lacks necessary elements of contract.Then it is called voidable contract. Impact of this contract is that party which does not have freeconsent is not bound to follow any type of rules and regulation. Express contract Under this type of contract parties make contract in terms of oral or written format. Boththe parties accepts the terms and conditions of each other and also accepts the offer given by4
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