Aspects of Contract and Negligence for Business
Added on 2020-01-16
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Aspects of Contract andNegligence for Business1
TABLE OF CONTENTSINTRODUCTION......................................................................................................................3TASK 1......................................................................................................................................31.1..........................................................................................................................................31.2..........................................................................................................................................41.3..........................................................................................................................................5TASK 2......................................................................................................................................62.1..........................................................................................................................................62.2..........................................................................................................................................62.3..........................................................................................................................................7TASK 3......................................................................................................................................83.1..........................................................................................................................................83.2..........................................................................................................................................93.3........................................................................................................................................10TASK 4....................................................................................................................................114.1........................................................................................................................................114.2........................................................................................................................................12CONCLUSION........................................................................................................................13REFERENCES.........................................................................................................................142
INTRODUCTIONIn order to conduct successful business in the domestic and international marketorganization faces certain challenges therefore it is essential to enforce different laws andregulations (Tomasic, 2011). Accordant with English Law contract is termed as wilfulagreement among the parties on the behalf of organization that is enforceable by law. While,English Law also focuses on tort in negligence it applies to the situation where business failsto execute their standard duty with proper care. The key aim for conducting the report is toassess the different elements of contract that is essential for formulating valid contract. Alongwith this, it also focuses on describing the different forms of contractual agreement underwhich parties can easily engage in devising valid and legal agreement. Along with this, it alsofocuses on assessing the different case scenario for understanding the different aspects ofcontractual elements and terms. Whereas, the report will also sum up the difference amongthe contractual liability as well as tort liability as both the liabilities are distinct from eachother. Contractual liability arises when the party to the contract breaches terms or conditionof the contract. Lastly, it also provide insight knowledge regarding the vicarious liabilitywithin the business context. TASK 11.1For the successful formation contractual agreement among the parties it is essential tounderstand the different elements that need to be included while devising contract (Taylor,2011). Accordant with the scenario, Peter Abraham is self employed contractor thereforewhile contracting with customers and suppliers they mus have adequate informationregarding the key elements within the contract. It mainly include-Offer and Acceptance- The key element of a valid contract is offer and acceptancethat support in formulating the valid contract (Haarala and et.al., 2010). Offer isdefined as proposal that is made by one party. It may be termed as giving somethingto the party. Therefore, it has been said that offer must be clear and implied. For thevalid contract the provided offer must be accepted by the other party (Elements ofLaw of Contracts, 2012). Therefore, putting forward new terms and condition whileaccepting the offer is termed as counter offer. Henceforth, it has been said that inorder to formulate the valid contract there must be proper offer and acceptance of theoffer by the other party. 3
Intention to create legal relations- Another essential element for the formation of avalid contract is intention of both the parties to engage in creating legal relationshipby serving legal activities (Palmer, 2014). Along with this, element also consists ofdeclaration of will and activities must cause legal effect. Capacity of the parties- Another element within the contract is capacity orcompetencies of parties for entering into the valid contract. This element within thecontract states that parties those who are agreeing to the terms and condition must beabove 18 or having sound mind (Wang, Yeung and Zhang, 2011). Parties withunsound mind, below 18 years of age or lunatic are not eligible for formulating thevalid contract. The importance of this element is that it discard the unsound party toenter into the contract. 1.2Peter Abraham is self employed contractor that focuses on contracting to differentindividuals that is customers, clients, suppliers through which they can purchases the materialetc. therefore, there are different forms of contracts that may be applies to Peter Abraham itmainly include-Face to face contract- The foremost form of contract that must be applies within thecase scenario is face to face contract. As, Peter Abraham self employed contractoruses face to face contract with their clients and customers. With the help of this theycan mutually agrees to the terms and conditions (Hillman, 2010). The impact of faceto contract is that at the time of dispute or conflict among the contractor and client itmay not consider as valid contract among both the parties. Along with this, anotherimpact of this contract is that parties are physically present at the time of formation ofcontract. Written contract- Another type of contract that is preferred by Peter Abraham isengaging in written contract under which parties to the contract focuses on writing allthe terms and conditions within the contractual deed (Avraham and Schanzenbach,2010). Thus, the written contract is signed by all the parties that act as legal under theeye of law. The major impact of written contract is that at the time of breach or failureof term on the part of one party then another party demonstrate the contractual deed asevidence to the court in case of claiming for the damages or injury. 4
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