Project On Business Contracts- Development Skills
16 Pages4933 Words270 Views
Added on 2020-02-05
Project On Business Contracts- Development Skills
Added on 2020-02-05
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TABLE OF CONTENTSIntroduction......................................................................................................................................3Task 1...............................................................................................................................................31.1 Essential elements required for the formation of a contract in UK and their importancealong with an explanation of ‘an invitation to treat’ with reference to the above scenario.........31.2 Main types of contracts that may be entered in UK by individuals and businesses alongwith their impact..........................................................................................................................42.1 Applying various elements of a contract in the given scenario.............................................5Task 2...............................................................................................................................................71.3/2.2 Analysis of contractual terms with reference to their meaning and effect......................72.3 Effect of expressed and implied terms using the cases above...............................................8Task 3...............................................................................................................................................84.1 Advice to Brad and description of possible defences............................................................83.1 Difference between contractual liability and tort liability.....................................................93.2 Nature of liability in negligence with case reference of Donoghue V Stevenson ..............10Task 4.............................................................................................................................................114.2 Liability of Bill and XYZ Diaries........................................................................................113.3 Vicarious liability of business .............................................................................................11Conclusion.....................................................................................................................................12References......................................................................................................................................132
INTRODUCTIONThe contract is introduced with the elements of contract law by laying emphasis on theformation and operations of business contracts. This project lays emphasis on the development ofskills by practical application of business contracts. Business contracts may include offer,acceptance, intention, consideration and capacity (Desai, 2008). A contract with false statements,undue influence or unconscionable dealings will make the contract illegal and void. Variouscase laws have been inserted wherever required. The study also depicts when liability can arisein cases of negligence and vicarious liability. A clear distinction between contract and tort isdiscussed. TASK 11.1 Essential elements required for the formation of a contract in UK and their importance alongwith an explanation of ‘an invitation to treat’ with reference to the above scenario ParticularsDescriptionImportanceOffer Offer refers to a definitepromise to get bound. It isdescribed as mere willingness todeal or negotiate (Fried, 2015).Offer may be specific or to aclass of people or to the wholeuniverse. If a person has been misleadingin any contract then the validityof contract will get hamperedwhich can invalidate thecontract. AcceptanceIf someone answers to the offerby the way of an act orstatement then acceptanceoccurs (McKendrick, 2012). Anoffer neither rejected noraccepted will be invalidated bythe law. If acceptance is throughcoercion or undue influence ormisrepresentation then thecontract will turn to be void. Consideration Consideration may be any right,In case of improper3
interest, valuable, benefit, losssuffered, etc. Court cannotquestion the adequacy of anycontract on the basis of validconsideration(Partington,2013). Exception: documentsunder seal. consideration, the contract mayturn to be unenforceable by law.Intention to create legalrelationsThis relates to the circumstancesin which an agreement wasmade (Contract, 2006). Partiesmust have an object to enter intoa contract. Exception: socialagreements and domesticagreement. Any contract without suchintention and express statementswill make the contract voidable.Privity of contractThis is a legal doctrine whichprovides that only the parties toa contract can sue and be suedby the contracting parties whoare involved in providingconsideration (Elements of acontract, 2015). No other partycan sue or be sued as per thecontract law. It ensures that no third party (forits benefit) can impose somerights or obligations on thecontracting parties. Invitation to treat is very different from an offer. It is an indication by parties where theyexpress their willingness to negotiate for a transaction. Invitation to treat very much resembles toan offer but is very different from an offer. Invitation to treat cannot be accepted to create acontract however, it invites offers which can be transformed into a contract (Desai, 2008).Example: display of goods on the window of a shop. Similarly, in the given scenario, Bill madean advertisement in which he made an invitation to treat by inviting people to come and give him4
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