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Report-Elements Of Valid Contracts

   

Added on  2020-01-28

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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31 Essential elements needed for the formation of contract..........................................................32. Types of contract and agreement adopted in case...................................................................43. Advise in respect to case scenario...........................................................................................54. Types of terms and its application...........................................................................................65. Advise the InXs on the validity of exclusion clause CP included in their contract.................7TASK 2............................................................................................................................................71. Principle differences between obligations in contract and in negligence ...............................72. Elements which need to present for a claimant to succeed in an action for negligence..........93. Application of elements in context to case............................................................................104. Defenses in context to case study..........................................................................................105. Explain vicarious liability......................................................................................................116. Liability and damage on context to case................................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................132

INTRODUCTIONIn order to have better promotion of legislative aspects, it is significant to have betterunderstanding in regard to the aspects of contract. By having an improved focus on thelegislative values the innocent parties from different unfair practices can be protected in desiredmanner. Along with this, it also helps in developing the legislative understand among parties whoare taking part in contract formation (Boundy, 2010). However, legislation framed by thegovernment will also defend the right of weaker parties who is affect with the unfair or illegalactivities. UK government is well focused towards protection of parties for diverse issues so thatsustainable development can be promoted in desired manner. Number of laws are being framedunder governing body of UK parliament so that key values of contract and negligence can bepromoted in desired manner. It is significant for businesses to have appropriate understandingabout such values in contractual activities so that issues can be resolved in desired manner(Burton, 2008). Present learning report will focus towards effective understanding of diverse elements ofvalid contract. Along with this, different key factors which need to be referred in formation ofcontract so that goals and objectives can be accomplished in desired manner. TASK 11 Essential elements needed for the formation of contractIn addition to this, it can be said that there are number of elements which need to beconsider by every party in order to framed the valid contract. Classification of factors can be asoffer and acceptance, consideration, competency of parties, etc. It has been noticed that if anyparty is not following such contexts in appropriate then it will impact the overall outcome innegative manner. It means the accountability of valid contract will also be harmed in appropriatemanner (Cooke, 2009). Offer and acceptance is a key element which is must be referredeffectively from the parties so that better protection can be offered to both parties. Offer isconsidered as situation in which individual or party offers a proposal to another party. If anotherparty accepts the proposal offered then it will be marked under acceptance. In other words, it canbe stated that acceptance is a term which generally considered as response of second partytowards offer (Cornford, 2013). 3

While having a formation of contract the parties need to focus on few mutual benefits sothat key aspect of contract can be well maintained. If any party is not having mutualunderstanding on the terms and conditions of contract then it will not be referred as validcontract. It might impact the overall outcome which might create a legal issues. Moreover,participants in the contract must be 18 years old so that they can easily enter in the contract(Cotutiu, 2015). If any one of participant is not meeting the competency standard then formationof legal agreement will be invalid. Moreover, it is also significant for parties to ensure that anykind of force is not being used while having a formation of contract. Competent parties mainlyinvolve individuals or parties with sound mind who are entitled to enter into a valid contract.Any kind of such factor avoidance might create an issue for the parties in regard to contractformation. Further legal issues can be raised in order to have formation of contract (Fried,2015). 2. Types of contract and agreement adopted in caseContract formation is one of most critical aspect and mainly it is accomplished throughdiverse forms of contract. Generally oral and written oral communication methods are beingemployed while having a formation of contract. Face to face and distance contract is one ofcritical aspect which is mainly adopted by the parties. In this, all parties must be present at thelocation where contract is being framed so that face to face interaction can be taken into account.Along with this, the terms and conditions are also being discussed by the parties in face to faceinteraction so that valid contract norms can be well maintained (Gale, 2007). Moreover,improved focus on the verbal and written contract is also one of critical factor. It has beennoticed that verbal contract is being settled in the ground of having verbal discussion among thedifferent parties. In such kind of contract the lack of evidence is key barrier because in situationof conflict parties does not have evidences to present (Palmer, 2014). It influences theeffectiveness of contract and impact overall aspects. Moreover, written agreement is referred as aform of contract which is accomplished through written communication. Significance of suchcontract is that in conflict situation proper evidences can be promoted in desired manner.Distance contract is mainly employed at situation where both parties are not available at samelocation. In this, different tools are being used such as email, postal, video conference, etc. 4

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