Aspects of Contract and Negligence for Business: Doc
Added on 2020-01-28
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STUDENT NAME: STUDENT ID:SUBJECT CODE:ASSIGNMENT NAME:ASPECTS OF CONTRACT ANDNEGLIGENCE FOR BUSINESSES
2Table of ContentsIntroduction .................................................................................................................................3Task 1: An insight into contract formation....................................................................................31.1 Contractual elements ........................................................................................................31.2 Different contractual impacts ............................................................................................41.3 Meaning and effect of the contractual terms .....................................................................5Task 2: Application of elements of contracts in the business situations......................................52.1 Application of the contract elements in the given business scenarios..............................52.2 Application of the legal terminology in the provided contracts...........................................72.3 Evaluation of the effects of the provided terminology in the given contracts......................8Task 3: The principles of liability in negligence in business functionalities ..................................93.1 Contrast liability in tort with contractual liability..................................................................93.2 Explain the nature of liability in negligence.....................................................................103.3 Explain how a business can be vicariously liable.............................................................11Task 4: Be able to apply principles of liability in negligence in business situations....................124.1 Apply the elements of the tort of negligence and defences in different business situations..............................................................................................................................................124.2 Apply the elements of vicarious liability in given business situations...............................13Conclusion.................................................................................................................................13...................................................................................................................................13References................................................................................................................................14
3Introduction Contracts form a central doctrine in terms of partnership between two persons or organisations.Compliance to the levied terms and conditions enhances this partnership. Viewing it fromanother perspective, breach of contract destroys the stability between the two parties. This actionestablishes negativity to the contract and spoils its true essence. This assignment speculates thebasic aspects related to the contracts, which helps in analysing its effect on the organisationaloperations. Task 1: An insight into contract formation1.1 Contractual elements A contract is formed of certain elements, absence of which turns it into an invalid one.Adherence to these elements would help Peter to build his career as a self-employed buildingcontractor (Clarke and Lancaster, 2013, p.222). Agreement is one of the essential components for a contract to be a valid one. In this element, anoffer is proposed by a party, which is accepted by the opposite party. The earlier sentenceprojects two important subparts of agreement, that is, offer and acceptance (Schulze andStaudenmayer, 2016, p.29). The acceptance of the proposed offer leads to the agreement betweenthe two parties. Viewing it from another perspective, agreement projects the adherence to theethics of the contract. In case of breach of contracts, the opposition party possesses full right toexpose disagreement to the proposed offer. This sentence bear’s resemblance with theunderstanding of Peter that he can be sued for any kind of damages that might arise during thetenure of the contracts. One of the other elements is consideration. Consistency within the proposed guarantees makesthis element into a worthy one (Callea et al. 2014, p.400). This contractual element proves usefulfor Peter is he encounters breaches of contract regarding his property, cash and otheradministrative losses. Capacity is one of the other crucial components in terms of a valid contract. The partiespossessing adequate understanding of the terms, conditions and liabilities are benefitted throughthis element. This understanding provides them the access to enter into contracts with their
4partners. This element might not be of any help for Peter at the initial stage, however, achievingadequate understanding about the dynamics of contracts would aid him in engaging intocontracts with builders or property dealers (Davis et al. 2016, p.730). Consent holds equal importance in the formation of a valid contract. Without the consent of thestatutory bodies of law, no persons can enter into a contract. This condition is applicable for theparties involved in the contract. Finding the adoption of illegal means by any of the parties turnsthe contract into an invalid one. This action needs courtly intervention into the contract andresults in cancellation of the contract. Upon encountering any such means undertaken by theopposition party, the other party possess full right to reject the proposed offer. This actionpossesses two connotations (Ralston and Weber, 2014, p.253). One it projects the understandingof the opposite party regarding the terms and conditions of the contracts. On the other hand, itreflects the conscious attitude towards remaining true to the ethics of the contract. Exposure of consent to the proposed offer enhances the clarity of the parties towards the termsand conditions of the contracts. This motive establishes authenticity into the execution of thecontracts. 1.2 Different contractual impacts Performance of every task with efficiency results in the achievement of positive results. On thecontrary, expose of lackadaisical attitude compels an individual to get negative outcomes. Thesame can be applied to the activity of contracts. Presence of variety within the contractssimultaneously possesses various effects (Kirichenko, 2016, p.175).Contracts are mainly of two types, bilateral and unilateral. The name unilateral itself projects thepresence of one single entity. In this type of contracts, the terms and conditions levied by thecourt is abided by the person intending to indulge into the contract. This type of contracts needsthe understanding and capability of the promissory to fulfil every criteria of the contracts.Entering into these types of contracts after attaining adequate experience would prove helpful forpersons such as Peter. In case of bilateral contracts, there are two parties, who are bound to abide by the terms andconditions of the contracts (Mateescu, 2015, p.255). Breaches of contracts put the blame on theculprit party and provide the opportunity to the victim party to file suit against the oppositionparty. Presence of two parties strengthens the base of the contract and qualifies it as a valid one.
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