Contracts and Negligence for Business Assignment

Added on - 18 Dec 2019

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`Aspects of Contracts and Negligencefor BusinessTable of Contents1.INTRODUCTION...................................................................................................................3Task 1..........................................................................................................................................3
`1.1...............................................................................................................................................31.2Discussion on different type of contract and its impact..................................................41.3 The terms in contract with their meaning and effects....................................................4Task 2..........................................................................................................................................52.1Elements of contract in case............................................................................................52.2 Apply the law on terms in different contracts...............................................................52.3 Effect of different terms of law.......................................................................................63.1 Contrast contractual liability and tort liability...............................................................63.2 Explain the nature of liability in negligence...................................................................61.TASK 4.................................................................................................................................81.4.1 Apply the elements of the tort of negligence and defences in different businesssituations...............................................................................................................................82.4.2 Apply the elements of vicarious liability in given business situations...................83.3.3 Vicarious liability......................................................................................................8CONCLUSION..............................................................................................................................9References................................................................................................................................10
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`INTRODUCTIONAgreements are signed among parties and terms and conditions of business aredetermined by them. Present report describes about different terms that needs to be includedwhile signing an agreement. Moreover importance of the essential elements required forformation of contract has been mentioned. In addition to that impact of different types ofcontract has been described. Furthermore evaluation of different terms of contract has beendone and nature of liability in negligence has been described. Vicarious liability of businesstowards its employees has also been mentioned in the report.Task 11.1There are various elements which are covered under contract without those elementscontract cannot be formed. At the time of entering into contract it is important that peoplebetween who contract has been made accept all the elements of contract. Some of theessential elements of contract are as follows:Offer: when any party want to come in contract then it put offer in front of otherparty. It is very significant element of contract without it contract cannot be formed(Twomey and Jennings, 2010.). It shows the legal purpose of one party to invite otherin order to make valid contract. For instance from the case of Carlil V CrbolicsmokeBall co(1983) it is show that offer made by them it not same as invitation to treat.Acceptance: Acceptance is another second important element of contract in whichanother party to whom offer is made is accepted. Further if offer is not accept bysecond party then contract cannot be stated valid (Oliveira, Ruiz and Conejo, 2013).Along with this both the party who make offer and who accept the offer need to signagreement agreement in order to come under the contract.Consideration: Consideration in contract can be called as promise which is made byone party to another. Further it is important to make consideration at the time ofmaking offer to another party, so that if any party breach the contract then anotherparty can take legal action in against.Capacity: for entering into contract it is important that both party must be above theage of 18 years and mentally fit. If any party is not above the age of 18 then validcontract cannot be formed. Further if person is not mentally stable then it cannot enterinto a contract as per the law.
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