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Unit 5–Aspects of Contract and Negligence for Business

   

Added on  2019-12-28

15 Pages4996 Words157 Views
Aspects of contracts andnegligence for business

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Essential elements of valid contract......................................................................................11.2 Main types of contract entered in UK...................................................................................21.3 Different terms included in valid contract............................................................................3TASK 2............................................................................................................................................42.1 Applying various terms of contract.......................................................................................42.2 Applying law on terms..........................................................................................................42.3 Effect of various terms..........................................................................................................5TASK 3............................................................................................................................................63.1 Difference between contract and tort liability.......................................................................63.2 Nature of liability in negligence............................................................................................63.3 Vicarious liability in business firm.......................................................................................7TASK 4............................................................................................................................................84.1 Elements of tort and negligence............................................................................................84.2 Applying the elements of vicarious liability.........................................................................8a)..................................................................................................................................................9b).................................................................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11

INTRODUCTIONIn order to form a valid contract it is essential for both the parties involved within thecontract to have certain essential elements such as offer and acceptance, consideration, freeconsent etc. All these elements are crucial and thus helps in forming a mutual agreement betweenparties so that valid contract could be created (Chidananda and et. al., 2014). Any agreementenforceable under law and involves all the elements helps in forming a legal contract. However,it involves various essential elements in regard to form a valid contract. Further, in order to forma contract it is essential for both the parties to have free consent and neither of them should beminor then only the contract is valid. Present report discusses different case scenarios and thusprovide valid offer to each other because if the contract is not valid than it is not acceptableunder the law. Further, there are certain elements of Tort law and negligence in which one partyis liable for the damages caused by other party. TASK 11.1 Essential elements of valid contractValid contract is one which involves both the parties to enter into the contract with fullconsent and form legal relationship with each other. All the legal contracts are enforceable underlaw and thus helps in forming legal relationship so that desired results could be attained.Following are the different essential elements of valid contract such as-Offer and acceptance- It is one of the main element of valid contract and thus one partyneeds to give offer and other should accept the same which help in forming legalrelationship (Johnson, 2015). However, if any of the party do not agree upon the saidterms and conditions within contract then it is unlawful. Contract will be considered aslawful only when it will be accepted by another party and give their consent so that it istreated as lawful. As per the case of Pharmaceutical Society of Great Britain vBoots[1953] 1 QB 401. it evaluated that products placed on shelf were not an offer butan invitation to treat. However, customers influence towards the goods and make an offerto purchase the same. Thus, when the offer made is accepted by the seller than it istermed as valid contract. In the present case, Freddy offers to sale high definition LEDand advertise on social media to sell it for Pound 145. Layla reacted to the offer andwishes to buy it for Pound 125. However, Freddy conveyed that he would only accept the1

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