Aspects of Contract and Negligence for Business

Aspects of Contract and Negligence for Business
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Table of Contents
Introduction......................................................................................................................................2
Task 1...............................................................................................................................................3
LO1 Essential elements to form a valid contract in situations of business..................................3
1.1. The formation of a valid contract is also the importance of the various essential elements
vested in an agreement to make it a contract............................................................................3
1.2...........................................Discuss the influence of contracts formed by diffrerent means.
..................................................................................................................................................4
1.3.......Effective analyses of various terms of contracts in light with their meaning as well as
effect.........................................................................................................................................5
Task 2...............................................................................................................................................6
LO2 Application of essential elements of a valid contract in business scenario.........................6
2.1 Apply the elements of contract in the given business scenarios below..............................6
Case 1 – Agreement in contract...............................................................................................6
Case 2 – Consideration in a valid contract...............................................................................7
2.2 Apply the terms of law in the following contracts.............................................................7
Case 3 – Exclusion clause........................................................................................................7
Case 4 – Implied term..............................................................................................................8
2.3 Evaluate the impact of different specific terms of a given contract...................................8
Case 5.......................................................................................................................................8
Case 6.......................................................................................................................................9
Task 3...............................................................................................................................................9
LO3 the basic principles to incur liability for negligence in business related activities..............9
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3.1....... Explain a comparison between tortuous liability with contractual liability after using
substantive examples................................................................................................................9
3.2. .Explain using suitable example how liability for negligence can arise and the conditions
needed to be met for a claimant to successfully prove negligence........................................10
3.3...........Explain the concept of vicarious liability and how a business organization may get
affected by it and become vicariously liable by suitable examples example.........................10
Task 4.............................................................................................................................................11
LO4 Application of essentials of liability in negligence in different business scenario............11
4.1 Application of elements negligence in tort and their defences also ................................11
Case 7.....................................................................................................................................11
4.2 Apply vicarious liability elements in provided business situations.................................11
Case 8.....................................................................................................................................11
Case 9.....................................................................................................................................12
References......................................................................................................................................13
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Introduction
To Form an agreement, it is essential that it is communicable under law to become a valid
contract. All contracts can be termed as agreements but all agreements cannot be termed as
contracts as some of the agreements are not enforceable under law and thus becomes void. There
are certain elements which are supposed to be compulsory to construct an agreement and convert
it into a contract. Law can be measured in business contracts as the guidelines and principles
made and also regulated and authorized by the central as well as state governments. These
corporation bodies many times should be held responsible to develop and enforce a law in a
definite jurisdiction of business. A contract in business is nothing but a promise of fulfilling
conditions through an official document under the business law which must be lawful and
enforceable. Within the jurisdiction of business context, there are many laws available but the
most common and widely used law is contract law. A contract can also be termed as the
commitment of an individual or a partnership firm or any business bodies that is commenced for
the transactions of their resources. An oral contract can be implemented in business firms but a
written document about the contract solidifies its nature and its operations. A written document
about the legal procedures is essential as it states the expectations and promises done by both the
parties in a legal and lawful document.
This report is developed to have the information about the negligence of contract in
business. It will examine the principles and elements of the business law that are required to
develop a lawful contract under different business scenarios. The study will provide the
information about the liability in the law of tort and its characteristics. It will also outline the aim
and objectives of tort along with two different aspects, namely, vicarious liability and
negligence. This discourse is prepared to determine the essential fundamentals that are required
to develop a lawful contract and the liability of the parties during the negligence of business.
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