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Principles of Liability - PDF

Added on - 28 Jan 2020

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UniversityContract NegligenceByDateNameLecturer’s Name
Contract NegligenceTable of ContentsIntroduction.................................................................................................................................................3LO 1............................................................................................................................................................4Importance of a valid contract.................................................................................................................4Elements required forming a valid contract.............................................................................................4Different types of contracts.....................................................................................................................5Terms in contracts...................................................................................................................................5LO 2............................................................................................................................................................6Application of the elements of contracts in business situations...............................................................6Application of the law of terms of the contracts......................................................................................6Evaluation of the impact of the different terms........................................................................................7LO 3............................................................................................................................................................7Principles of liability...............................................................................................................................7Tort with contractual liability..................................................................................................................8Nature of liability....................................................................................................................................9LO 4............................................................................................................................................................9Principle of liability on the business situations........................................................................................9Impact or tort of negligence...................................................................................................................10Impact of vicarious liability in the business...........................................................................................11Conclusion.................................................................................................................................................12References.................................................................................................................................................13Page2of13
Contract NegligenceIntroductionEach and every essential task of any company is always depended on some contracts. Thedealers of the company deal with the management of the company by some certain and specificcontracts. The stakeholders of the company trade with the company by some contracts. Thus thecontracts that the company or the management of the company has with the other organizationaldepartment determine the future of the company or the business of the organization. Thesecontracts have a certain deadline and certain regulations that both the company and the dealers orthe stakeholders of the company has to follow for the success of the contract. The followingreport deals with the various aspects of the negligence of the contracts of the management of thecompany. The report will provide information on the importance of the contracts and how theemployees and the management of the organization will react if there is any negligence of thecontracts. On the other hand, what consequences the management of the company and thedealers or the stakeholders of the company would have to face if there is any negligence of thecontracts are also mentioned in the further report. If the management of the organization iswilling to run their business successful, then they have to be dependent on the contracts of thecompany, and they have to get rid of the contractual negligence for the improvement of thebusiness of the organization.Page3of13
Contract NegligenceLO 1Importance of a valid contractThe business of any company is always full of many agreements and responsibility. Verbalcommunication or verbal agreements do not have much importance in the professional field.Thus whenever a company or the management of the company makes an agreement with anotherorganization or an individual, it is severely important for that particular company to bedependent on a certain and specific contract. Thus a valid contract can assure some business dealor individual deal between the management of the company and the other organizations or theindividuals with whom the contract is(Becken and Hay, 2007). This also gives the managementof the company an assurance of the deal as the contract cannot be broken by any of the twoparties otherwise they would have to face some legal issues.Elements required forming a valid contractThere are some elements which are needed for the formation of a valid contract. A businesscontract can only be formed when the two parties are agreed on the business deal. If one of theparties is against the deal, no law can force him or her to sign the contract. Political influence onthe contract is also a notable point(Hall, 2007). There is much legal legislation related to thebusiness contracts which the management of the company should be aware of before signing thecontract. After the signing of the contract, it is the judiciary of the country or the place, who willactivate the contract and set the deadline of the contract.Page4of13
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