Aspects of Contract and Negligence for Business Aspects of Contract and Negligence for Business
Added on 2020-01-07
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Aspects of Contract andNegligence for Business
Table of ContentsAspects of Contract and Negligence for Business...........................................................................1INTRODUCTION...........................................................................................................................3Task1................................................................................................................................................31 Essential element required for the formation of a valid contract........................................32 Impact of different types of contract:..................................................................................43 Terms in contracts with references......................................................................................5Task2................................................................................................................................................64 Elements of contract in business scenario:..........................................................................65 Consequences of different contract term:............................................................................76 Effect of term of law and exemption clause in contracts:...................................................7Task3................................................................................................................................................87 Contrast liability in clause with Contractual liability..........................................................88 Nature of liability in negligence:.........................................................................................99 Vicarious liability in the business:......................................................................................9Task4..............................................................................................................................................1010 Element of tort of negligence and defences in this business situation:..........................1011 Element of vicarious liability:.........................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12Books and Journals...............................................................................................................12
INTRODUCTIONThis report is here to explain that parties making a contract by understanding of rules, andconditions of a business. There must be a clear and defined idea of the laws and regulations ofContract before making it. Parties making agreement by enforcement of law to make a validcontract. Report gives an idea about elements of contract like offer, acceptance, consideration.Contract has many terms and conditions which need to clearly mention in the document andmust be followed by the parties. In a business if any tort committed by employees in the courseof employment rule of negligence applied. Employer is liable for any misconduct by one partydue to his negligence in the business (Zamore, 2016). There is a liability of the employer for allthe misconduct act done by the employee in his workplace. This report gives an idea about thenegligence occur in the business. Negligence is occurred by one party then the other party will beliable for the his act. Under a business the defence available for negligence where the defendantcan prove his defence by the evidences in the court.Task11 Essential element required for the formation of a valid contractContract making an agreement for purchase and sale of the product and availing servicesby following the conditions in a business. Parties can make a contract verbally or in writing bytheir act and behave to make a valid contract (O'malley, 2012). One party proposes an offer toother party and it becomes complete when the acceptance received by the offeror in the samesense. In order to make a contract there must be a valid consideration by following all the rulesto complete the object. There are various elements of a contract to validate the conditions in avery effective way-Offer: A party giving an offer to another person for a particular transaction to make acontract. It will be valid for the time before the offeror revoke or cancel it. There is thetime limit mentioned in the document to accept the offer if not, in a reasonable time. Hereis an example where a company gives an offer to the party to purchase 1000Tables at aprice of $2,00,000 , that is an offer by the company.Acceptance: After giving the acceptance by the person to whom the offer is given it willcreate a contract between them (Pathak, 2013). Acceptance made in writing or verballyby confirming all the conditions of the contract. To accept a offer there is two method:
a) Postal rule- Acceptance can be by way of post and contract is deemed to be created atthe time of posting the letter.b) Receipt rule- after receiving the message of acceptance by the offeror it creates a validcontract.Intention to create legal relations: Parties are going to make a contract which they havethe intention to form a legally binding contract. Jones v Padavatton [1969] 1 WLR 328The agreement was purely a domestic agreement which raises a presumption that theparties do not intend to be legally bound by the agreement. There was no evidence torebut this presumption.Consideration: It is the amount received by the seller in order to provide goods andservices in the business (Cross and Miller,2011). Money can be in rupees or in kind andno need to adequate it can be less or more.Capacity: A person who has not attained the age of eighteen and unsound mind cannotmake a valid contract in the eye of law. 2 Impact of different types of contract:Contract is a legally binding document which are enforceable by the law to make varioustransactions of the goods and services. In a business there are various types of contract whichmay provide rights and obligations between the parties (Conrad, 2011). Express Contracts: At the time of creating a contract parties mention the terms in writingor orally. There is express approval given by the parties to the offer by giving his consenton the conditions.Implied Contracts: there is an mutual agreement between the persons to agree on a offerwhich is not expressly in words. They are bounding with the terms of the contract whichcreates an implied act.Bilateral Contracts: Parties performing a conduct by exchange of mutual promises. It is atwo sided contract because there is promises between the parties for sufficientconsideration (Hiles and Hon, 2016).Unilateral Contracts: It involves a promise made by a single party to legally enforceablecontract. Offeror who makes the promise is the only who is legally bound to completethis. Offeree may not be sue in the court because he did not make any promises if partyrefrain from doing something.
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