Study On Acts, Laws & Terms

Added on -2020-02-05

| 13 pages| 4711 words| 44 views

Trusted by 2+ million users,
1000+ happy students everyday

Showing pages 1 to 4 of 13 pages

Aspects of Contractand Negligence forBusiness
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1................................................................................................................................................11.2................................................................................................................................................21.3................................................................................................................................................3TASK 2............................................................................................................................................42.1................................................................................................................................................42.2................................................................................................................................................42.3................................................................................................................................................5TASK 3............................................................................................................................................63.1................................................................................................................................................63.2................................................................................................................................................73.3................................................................................................................................................8TASK 4............................................................................................................................................84.1................................................................................................................................................84.2................................................................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONLaws are formed in order to preserve the rights of every citizens and it also acts aguidelines for the people to apply diverse sections in varied circumstances. Aspects of contractand negligence is a comprehensive study which present a clear idea to the businessperson so asto be aware about all the acts and sections. The report covers elements of a valid contract that areessentially needed so as to preserve the rights of innocent parties. Main purpose of the study is topresent a clear understanding to the readers about varied kinds of acts, laws and terms. It alsocovers several kinds of contracts such as unilateral and bilateral. In addition to the above,exclusion clause along with the implied and express terms have been demonstrated specifically(DiMatteo, 2012).TASK 11.1A contract can only be termed as valid if all the essential elements are present in theagreement. Each and every term has certain importance in its own place and creates an invalidcontract if these are absent in the respective case. Some of these have been enumeratedhereunder:Offer and Acceptance: In order to term an agreement as a legal contract then there mustbe a presence of both offer and acceptance. A proposal is made and the another personagrees by it then it can be termed as a valid contract. This can be seen in the Brogden vMetropolitan Railway wherein the aggrieved party supplied coal to a rail companywithout any sort of written agreement between the two. Later on it was analysed that boththe parties felt the need to make a legal contract by posting the terms and conditions ofthe contract in a written document (Falk, Huffman and Macleod, 2015). Thereafter,certain amendments were made by the defendant and the same was posted in the file.From the particular case it can be concluded that there is an acceptance made bydefendant's due to the offer proposed by claimant. Therefore, it is a valid contract.Free Consent: this means that the offer and acceptance made by the parties are free fromall sorts of undue influences. This means that the contract cannot be deemed as valid ifany of the parties are misrepresenting the terms of contract, assaulting the other member.It shall be free from all sorts of coercion, fraud, mistake, etc. Case References Bisset vWilkinson (Fried, 2015).1
Intention to create legal agreement: This element was introduced so as to make sure thatuneven and unimportant cases are not brought before the judiciary. Not every offer andacceptance can be deemed as a valid contract some are social or domestic agreements aswell. Citing example from the Jones v Padavatton case wherein the mother promises herdaughter to sacrifice her job and pursue his further studies. She even promises to pay her200 dollar per month so as to meet her expenses as well as a rewards in regards to thesacrifice made by her (Gilbert and Vargo, 2014). Later on after the marriage of herdaughter, the lady fails to pay the requisite amount. The case was bought in front of thecourt, and the judgement made by the judiciary was that this was clearly a domesticagreement so there was not intention of the the mother to create a legal agreement.Lawful object: An object shall be lawful in the eyes of the law so as to make a legalcontract. For instance, a landlord does not have the right to avail rent in the case if thehouse has went for auction or prosecution. Capacity of the parties: The person whosoever are forming or entering into a validcontract must be above the age group of 18 years. A minor does not have any right toform a legal contract. Likewise, a lunatic, person with unsound mind are also not in thecapacity to form a valid contract (Gray, 2010).1.2There are several kinds of contract as per the English Law wherein each of them possessa consequent impact on the binding parties. Some of which have been highlighted underneath:Unilateral Contract: A contract wherein one party promises to pay nominalconsideration to the another can be termed as a unilateral contract. Both the parties areobliged to perform their duty but the amount of consideration is not sure to be presented.The impact of such type of contract is that the defendant does not have any right toterminate the contract, once the claimant start performing its duties (Bell, 2011). Citingexample from the Carlil v Carbolic Smoke ball Company, wherein the small ballenterprise promises to pay a some of 100 pound to the person who inhales the toxic of thesmoke ball and causes flu from it. This act was performed by Carlil after as per theinstructions printed in the newspaper advertisement. It can be termed as a unilateralcontract whereby one party promises to pay a dual consideration to the another onperformance of certain act.2

Found this document preview useful?

You are reading a preview
Upload your documents to download
or
Become a Desklib member to get accesss

Premium

$45

Q&A Library Access

Chat support

12

Document Unlocks

4

Answer Unlocks

Students who viewed this