Components of Contract & Negligence For Business : Assignment
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Unit 5: Aspects of Contract & Negligence for BusinessUnit code: F/601/1271Unit type: CoreAspects of Contract & Negligence forBusinessStudent Name:Name of the Tutor:Assignment/hand-out date: 26/09/2016Deadline/hand-in date: 20/11/2016
Unit 5: Aspects of Contract & Negligence for BusinessUnit code: F/601/1271Unit type: CoreTitle Aspects of Contract & Negligence for Business Introduction1.1 Explain to Peter Abraham how a contract is formed and the importance of the various elements which has to be present to form a contract.1.2 Discuss the impact of forming contracts (as it may apply to Peter Abraham) by means ofi.face to faceii.written contractiii.distance selling (telephone, internet)1.3 Give an analysis of the following terms in contracts with reference to their meaning and effect (including remedies and damages) as it may apply to Peter Abraham.i.conditionii.warrantyiii.innominate termsiv.exemption clauses (including legality)2.1 Apply the elements of contract in the given business scenarios (Cases 1 and 2)2.2 Apply the law on terms in the following cases (Cases 3 and 4)2.3 Evaluate the effect of different terms in the given cases (Cases 5 and 6)3.1 Explain the similarities and differences (contrast) of liability in tort with contractual liability using anexample.3.2 Explain using suitable example how liability for negligence can arise and the conditions needed to bemet for a claimant to successfully prove negligence.3.3 Explain what vicarious liability means and how a business such as your organization can become vicariously liable giving example.4.1 Apply the elements of the tort of negligence and defenses in the given business scenarios.4.2 Apply the elements of vicarious liability in given business situationsConclusionReferenceAssignment/hand-out date: 26/09/2016Deadline/hand-in date: 20/11/2016
Unit 5: Aspects of Contract & Negligence for BusinessUnit code: F/601/1271Unit type: CoreIntroductionThe main focus of this assignment is to analyze and recognize the different components of Contract andNegligence for business. Today, the business environment is filled with assertions between organizationsand people. Contracts that are composed provide people and companies with a record that express thedesires, gathering and how they are determined (Markides and Newman, 2013). Likewise, contract issubject to court of law enforce ably. Organization can utilize their assets and shield them with the help ofa contract. The objective of this assignment work is to give the information and details about the law of contract andthe principle that comes in each case. Applying and demonstrating of a valid contract and their differentparts of agreement. How to enter a contract, terms and condition evaluation, expressing and lawidentification with agreement. There is some case which are interrelated but not totally same. Weexamine and analyze the agreement of law. Such contractual agreements are not only evident to play agreater role in businesses but together has a significant function in the life of individuals. It is where theyare required to handle such day to day operations that are often related to a legalized context of work. Thepresent report has depicted an elementary composition of a contractual agreement where the participantsheading into it are required to make a strict adherence towards its stipulated norms. It has togetherrepresented yet another existence of negligence in a contract where this in turn results in breaking theundertaken laws with its clear disruption. This consequently results in a prior intervention of legal bodiesas bestowed in the later part of this report. Task 1 1.1The following elements required for formation of a contract:Offer and Acceptance: Agreement containing offer and acceptance, it is a presence of an offer and an acceptance of dissect the whole procedure to choose weather agreement has been made, if so when it was made. In Harvey v. Facey (1893) it was opined that the offer shall be attached with an intention to create a binding relation. Another important thing is that reaching common term of the party is essential for understanding (Andrew, Ewan and James, 2007). Both these elements called offer and acceptance shows a prior intercession of two superior parties called offerer and offeree where an offerer hereby refersto propose something to another party named offeree also known as accepting party. Wherein, an offer consists with some liable terms and is needed to be accepted within a given time period by duly informing the offerer about the same. However, in case one fails to do so, then the proposed offer can also get terminated. Consideration: This is the worth given by the party as a guarantee that should be made. Cash, property,goals, administration manifestation generally comes under consideration. In Thomson v. Thomson (1842)consideration shall necessarily be valid, and any past consideration shall disqualify the contracts. Thisconnotes the reciprocal nature of these relationships, wherein one party suffers and the other partybenefits. Moreover, it is important that the consideration shall be completely lawful in nature and shallnot be in past. It has been opined by the court that consideration is not required be adequate in nature, it isacceptable if it is sufficient in nature. It moves from the promisee and plays the role of supporting thepromise made by the parties. Consent: It refers to a party that does not enter onto assertion readily, then understanding is not achievedso it would be invalid (Shulman and et. al., 2010). Peter should take it in consideration. It is highlyimperative for the parties to give free consent to formation of contract and the minds of all the partiesAssignment/hand-out date: 26/09/2016Deadline/hand-in date: 20/11/2016
Unit 5: Aspects of Contract & Negligence for BusinessUnit code: F/601/1271Unit type: Coreshall meet at same point. Further it is also required that the consent of parties is received on the sameterms and is not influenced by any of the elements of fraud, misrepresentation, and so on. Capacity: If a party have limit have the ability to enter the introduction to a legitimate contract. Capacityis the main element; peter should build the capacity to have genuine mental approach to enter a contractwith organizations. In De Francesco v. Barnum (1890) it was opined that only parties who are competentin terms of age, capacity and so on shall enter into a contract (Hovenkamp, 2015). Moreover, it is alsorequired that the parties are mentally and financially capable to enter into contracts, and be capable toperform each of the promises or terms mentioned in the contract. The competency of a minor is subject toan exception of necessity contract, wherein a minor is allowed to enter into contract in cases of necessity.Hence, there have been various judicial pronouncements which have opined that though a minor is notcompetent to formulate a contract, in cases of necessity law allows them to create a valid contractualrelationship. Moreover, these minors cannot be made liable for non-compliance. Certainty: Peter should attain certainty in his approach to avoid damages and should have clarity. All theterms of an agreement ought to be clear. The terms of the contract must be certain and clear by the partiesotherwise court will not consider it as a legal document. If any duty of the agreement is incomplete by theparties then it will not consider as contract and not enforced by the parties.Lawfulness: any type of lawfulness is a better approach for any agreement. I would like to advise to peterthat he should go for lawfulness. In contracts lawfulness have to be obtained because it will be beneficialfor him. In the simple word the contract is protected by lawfulness. The object and purpose for which thecontract has been formed shall be lawful in nature, and shall in no way be contrary to any of legalframeworks. Any consent to disregard the law or any assertion illegal by law is void. Contracts are illicitfor two explanations: firstly, in light of the fact that their article is unlawful: besides, since despite the factthat the item is superbly legitimate, the way of making it is against the law.1.2Face to FaceIt is a type of contract which is done between two parties by face to face. It will help to peter to do an agreement for his contract. In face to face contract both parties can negotiate to their terms and conditionsand both parties can compensate to each other. In this contract peter, can make his verdict. It is the main feature of a contract. These form of contract are entered into by parties orally when they are present before each other. In such cases there is no scope for mistake of identity as the parties are present before each other for verification. However, these contracts lack certainty as the terms are negotiated in a oral manner and are not written down anywhere to be referred in future. Thus, the probability of conflict situations is very high existence of ambiguity in the terms (Kaneko, 2010). Parties verbally decide the terms by the conversation between each other.Written contractWritten contract is an important form of making contracts between parties. In case of written contract peter can be secure by the written documentation of a contract. In written contract, he is totally safe by any misconception because the contract is in the written form and he will be benefited by this contract. Both parties have accepted and signing agreement and keep agreement copies which is essential for them.These are the agreements which business enterprises prefer to enter into as it provides certainty in respectto the rights and obligations which are a result of the contractual relations. Hence, these are in the form ofa document which may even be registered in certain cases, and is possessed by all the parties who are Assignment/hand-out date: 26/09/2016Deadline/hand-in date: 20/11/2016
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