Sample Assignment on Contract Law

Added on - 03 Dec 2019

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Aspects ofcontracts1
TABLE OF CONTENTSIntroduction......................................................................................................................................3Task 1...............................................................................................................................................31.1 Essential elements and Importance of a Contract..................................................................31.2 Types of contract in UK.........................................................................................................41.3 Elements of law with relation to the case law........................................................................5Task 3..............................................................................................................................................54.1 Elements of tort of negligence and possible defences...........................................................53.1 Contrast between the nature of liability in Contract and the nature of liability in Tort.........73.2 Neighbour principle and concept of duty of care with reference to the case of Donghue vStevenson.....................................................................................................................................7Task 4...............................................................................................................................................84.2 Vicarious liability in case of negligence with the help of cited case law..............................83.3 Vicarious liability of employer with the help of cited case law............................................8Conclusion.......................................................................................................................................9References......................................................................................................................................102
INTRODUCTIONLaw is a set of rules and regulation which are set by legal regulatory bodies in order toensure and govern behaviour of individuals and organizations. Contract is a legal agreement,written or oral, with some lawful object between two or more parties. The project has been madeby emphasizing on formation and importance of contracts. It will help in developing skillsrelating to practical application of business contracts, including offer, acceptance, intention,consideration and capacity. Relevant case law examples have also been added in the report.TASK 11.1 Essential elements and Importance of a ContractContracts are important because they refer to a written document that outlinesrelationship between business and individual They minimize risk and protect both the parties.Contract can be legally enforced.Invitation to treat has been derived from the Latin phrase invitatio ad offerendum whichmeans "invitingan offer". Thus it refers to a case where one party invites the other party to givehim an offer which on acceptance will become a contract. It expresses the willingness of aperson to negotiate. In the above scenario, the advertisement made by Bill with regard to theprinting press is an invitation to treat.There are various essentials of a valid contract that need to be satisfied in order to createa legal obligation between the parties. Essentials of a contract include offer, acceptance,consideration and capacity of parties, free consent as well as lawful object, certainty of meaning,possibility of performance, not void or illegal, legal formalities and intention to create legalrelationship. The 4 main essentials of a contract are discussed below:Offer:In order to create a valid contract it must be kept in mind that there is a lawfuloffer by one party and lawful acceptance of that offer by another party. There must be a clear anddefinite offer which does not include estimates, any request for proposal, and letter of intent aswell as expression of interest. The offer lapses when time given for acceptance expires or if theoffer is withdrawn before it can be accepted.Acceptance:Acceptance can be given of only those things that are offered. A lawfulacceptance is made if it is accepted exactly in the same way as it is offered. Any addition orsuggestion of new terms before acceptance is known as a counter offer. Counter offer can further3
be accepted or rejected. Acceptance of an offer indicates that negotiations between parties havenow come to an end. Acceptance can be written, verbal or directed by actions.Lawful consideration:If the parties want the offer and acceptance to get converted into avalid contract then, there must be some valuable consideration. Consideration is what both theparties give each other. This clearly means that one party promises to do (or not to do) somethingin return for a promise from other party. Generally, consideration is in monetary terms howeversometimes it can be in the non monetary form also. Payment need not be fair always becausecourts will not interfere in situations where hard bargain has been made by any of the parties,except in cases of fraud.Intention of parties:The strict requirement of a contract is that the parties agree to enterinto a legally binding agreement. This means that the parties must understand that an agreementmust be enforceable by law and they have an intention to create a legal obligation.1.2 Types of contract in UKFace to face contract:Face to face contract means those contracts that are made byparties through their physical presence. It is clear and precise form of contract which states theexpectations of all the parties in an agreement. It enables the parties to negotiate on the terms bygiving counter offers. Here, parties can also see samples of a product in cases where it isrequired. Impact of face to face contract is that sitting together and deciding upon the terms ofcontract which reduces confusion and ambiguity from the minds of people. Example: Retailpurchases.Distance contract:As inferred from the name these kinds of contracts are made by theparties without being physically present together. It can be made through telecom, fax, e-mail,post, etc. terms of the contract are also discussed in the same manner as the offer is given. Theoffer and acceptance of the parties is time bound. Impact of distance contract is that they are timeconsuming and can create confusion at times when terms of contract are not clear. Example:Online shopping.Written contract:Written contract is a kind of contract which is made on a legal paperwith a proper seal and stamp. This is often formed as a deed or an agreement. Impact of writtencontract is that it provides a clear meaning and better understanding of all the terms of a contract.Any contract which is in written form and is legally valid cannot be challenged on fraudulent4
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