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Similarity and Differences Between Tort and Contractual Liability

   

Added on  2020-02-05

14 Pages5399 Words139 Views
Aspects of Contract and Negligence inBusiness1

TABLE OF CONTENTSINTRODUCTION................................................................................................................................3Task 1....................................................................................................................................................31.1 Essential Element........................................................................................................................31.2 Impact of Varied types of Contract.............................................................................................41.3 proper analysation on the various terms of contract and their effects........................................4Task 2....................................................................................................................................................52.1 Applying Element of Contract....................................................................................................52.3 Effect of Different Term.............................................................................................................7Task 3....................................................................................................................................................83.1 Similarity and Differences between Tort and Contractual Liability...........................................83.2 Liability for Negligence..............................................................................................................93.3 Vicarious Liability....................................................................................................................10Task 4..................................................................................................................................................104.1 Elements of Tort of Negligence................................................................................................104.2 Elements of Vicarious Liability................................................................................................11CONCLUSION...................................................................................................................................11REFERENCES...................................................................................................................................132

INTRODUCTIONIts important for each and every kind of firm to acquire knowledge safeguarding aspects ofcontracts. As it helps the organisation to place itself or to position itself in the market. It is veryimportant for organisation to make contract in legitimate manner as only when the contract oragreement between the parties will be considered as a valid one (Contract Law, 2007). In order tocreate contract in legitimate manner, it is essential to have knowledge about both the parties withrespect to various feature of vicarious, negligence and occupies liability. In order to create adeliberate or voluntary relationship it necessary to fulfil all such formalities or requirements(Andrews, 2016). Also when company starts its contract in legal nature it helps it in fulfilling allroles and responsibilities towards each other. The report is based on the different scenarios, where infirst scenarios the report focuses on understanding the importance of essential elements of a validcontract. Under this report will also discuss about the different types of contract. In second scenarioabove discussed elements will be place in different business situations with the help of cases orstatutes (Bercovitz and Tyler, 2014). Third scenario is of Vocational Scenario, in which variousdifferences and similarity of liability in tort with contractual liability will be explained. TASK 11.1 Essential ElementAll agreements are not contract but al contracts are agreement. Agreement is made between towparties and it can be oral or in written form. Following are some essential elements which are to beconsidered by both of the parties. 1.Offer and acceptance: Offer can be define as it is developing by a party to the other partyin order to create a contract with them. While making contract both parties are required tomake lawful offer and acceptance of contracts. The offer is required to provide other partywith a lawful offer and the other party is also required to accept the offer in lawful manner.In other words both parties are required to have a common consent and understanding at thetime of making contract with other (CHENG and Yang, 2010). 2.Capacity of parties: To form a valid contract, it is also essential to know about the workingcapacity capabilities of the both parties. which are entering into a contract.In order toundertake contract between two parties it is very essential that both parties should have thecapacity to accomplish the contract. That means the any of the party member should not beminor, mentally challenged etc person. If any member in any of the party is mentallychallenged or is in or that is less than 18 year old that the contra will become void (FourEssential Elements of a Contract, 2015). 3

3.Lawful consideration:Consideration can be refereed as something in “return”. In section2(d) defined as the desire of the promiser, the promiser or any kind of another person hasabstained from doing something or promise to not to do than such act is known asconsideration of promise. In the affected person can file suit for lawful consideration.4.Legal intention: The contract must create a legal obligation, besides acceptance and offer.That is both parties are required to sue against other if the other party had not kept thepromise or had done any kind of fraudulent activity (Davey, 2012). 1.2 Impact of Varied types of ContractVarious types of contract places different effect on the parties. Various types of contracts areas follows:Face to face: Here, parties who are ready to enter in a contract are present in physical formto make the agreement void. Under such type of contract both parties sit together and agreesupto the term and condition face to face. It has a positive impact as sometimes words plays avital role in understanding the values and conditions of the other party the from writing. Butalso with the contract such as as face to face contract the chances fraud increase. As at thattime he innocent party has no proof against the defendant party as all terms and conditionswere mentioned orally (Geistfeld, 2011). Such types of contracts are generally madebetween the relatives, friends etc. Written contract: in written contract, every kind of term and condition are being discussedin the format in given manner. Such types of contracts are considered to be best because itreduces the chance of any fraudulent activity. And if any of the party dares to breach thecontract the innocent party can sue upon the defendant party as it has the proof in written(Hillman, 2010). Distance selling: Under distance selling contract, contracts made with the help of businessentities by calling on video, telephone and fax, etc. In the other words, parties who areentering into the contract are not physically present at the time of formation of contract.Usually, this set of contracts is made by individual that belongs to different region orcountry. In such contract, parties need to rely upon electronic equipment to perform theduties with context to contract. However, if damages to contract instrument is done then itmay lead to delay in performing the duty (Jeffries Jr., 2013).1.3 proper analysation on the various terms of contract and their effects.Conditions: Condition is a requirement or event that is required to be performed by both partiesbefore accomplishment of contract. Condition has a direct link with the objective of contract. In4

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