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Aspects of Contract and Negligence for Business

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Added on  2020-02-14

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Aspects of Contract and Negligence for Business INTRODUCTION 3 Task 13 1.13 1.24 1.35 Task 26 2.16 2.26 2.37 Task 37 3.17 3.28 3.38 TASK 49 4.19 4.210 Conclusion 11 REFERENCES 12 Online12 Introduction A contract is the agreements between toe parties which is enforceable by law as a binding legal agreement. Task 1 1 1.1 There are some essential elements which are required to make a contact valid that are as follow: Offer and acceptance

Aspects of Contract and Negligence for Business

   Added on 2020-02-14

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TABLE OF CONTENTSIntroduction......................................................................................................................................3Task 1...............................................................................................................................................31.1 ...............................................................................................................................................31.2................................................................................................................................................41.3................................................................................................................................................5Task 2...............................................................................................................................................62.1................................................................................................................................................62.2................................................................................................................................................62.3 ...............................................................................................................................................7Task 3...............................................................................................................................................73.1................................................................................................................................................73.2................................................................................................................................................83.3................................................................................................................................................8TASK 4............................................................................................................................................94.1................................................................................................................................................94.2..............................................................................................................................................10Conclusion.....................................................................................................................................11REFERENCES .............................................................................................................................12Online.........................................................................................................................................122
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INTRODUCTIONA contract is the voluntary agreements between toe parties which is enforceable by law asa binding legal agreement. For the formation of contract it is required to to make a offer,acceptance and a consideration. The party who are making a contract must be must have thecapacity for entering in a legal contract. The present report is based on different cases, which arebased on contract and negligence of contract. The present report covers, importance of theessential elements required for the formation of valid contract is explained. Along with this, theimpact of different type of contract have been discussed. Apart form that, the elements of tortnegligence and deference in different business situation is applied. TASK 11.1 There are some essential elements which are required to make a contact valid that are asfollow:Offer and acceptance: offer and acceptance are the elements which are required tomake any contract valid. In this one party make offer and other party accept it then onlycontract become valid (Anson, Beatson and Cartwright, 2010). If other party reject theoffer then not contract can become valid. Intention to create legal relationship: There should be legal relationship for making anycontract valid. The ofrere and ofree party must intend to enter into legal relationship andall formalities completed legally.Certainty: It is required that each and every term in contract must be celraly defined infrom of both parties that is ofrer and ofree. If contract is vague then it will be enforceableby law. There should be no uncertainty occur and all the information provided incorrectly in valid contract. Consideration: A party paid price for the promise to other party is a consideration. Theprice is not money it may be a price which has some value (Hillman, 2012). It is a right,benefits or interest of one party or some forbearance.Legal capacity; valid contract is cannot be made between a all people. The people whoare mental impairment, bankrupts, people who are below the age of 18, etc which cannot3
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enter into a valid contract. According to the law it is necessary that both the party arecapable and above the age of 18 for entering into any valid contract.Completeness: Agreement made between both the party must be complete first beforestarting its performance Ofrer and ofree both should enter into a contract and accept allthe term and condition before starting any activity which are mentioned in contract. 1.2There are different types of contract and it all have a impact that are as followUnilateral contract and bilateral contract: in the bilateral contract there is required at leasttwo people while in unilateral contract there is only obligate action on one part. Further inunilateral contract one offer the deal promises to pay when a task is completed. On the otherhand in bilateral contract there is allow for an direct exchange between both the party. Impact of contract under seal and simple contract The contract under seal is a formal contract in which there is not required anyconsideration, there is seal of the signer attached with contract. While in the simple contract it isa contract made written or in oral form. Its required consideration to be valid (Chen and et.al.,2010). The simple and under seal contract both have different limitation periods. There is noaction can be brought after a six years form the date on which action accrued in simple contract.There is limitation of 12 years in contract under seal.written contract and verbal contract Written contract is the contract where both the party made agreement in written form.While in the verbal contract there deal done orally not in written form. They may enter into anagreement that is only personally binding.There is some positive impact of the written contract that is if any person breach any term ofcontract then other party can sue him in contract. Ont he other hand negative impact of verbalcontract is that no party have prof to claimed in the court if any party breach the rule. Face to face contract and distance contract:In the distance contract it is made in verbal form or in written form. While in face to facecontract both the party sit together and agree upon some term and conditions. There is somepositive impact of the face to face to face contract that then is no confusion arises between both4
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