Aspects of Contract and Negligence for Business
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Added on 2020-01-07
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5 Task 25 2.15 2.26 2.36 Task 37 3.17 3.28 3.39 Task 410 4.110 4.210 Conclusion 11 REFERENCES 12 Introduction Aspect so contract are very important for execution of desired function of any business and there should be proper understanding of it.A contract is a written or verbal agreement between to parties and that is intended to be enforceable by law. Apart form that the elements of Tort of negligence and defenses in different business situation is applied Task 1 1
Aspects of Contract and Negligence for Business
Added on 2020-01-07
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Aspects of Contract and Negligence forBusiness
TABLE OF CONTENTSIntroduction......................................................................................................................................3Task 1...............................................................................................................................................31.1.................................................................................................................................................31.2.................................................................................................................................................41.3.................................................................................................................................................5Task 2...............................................................................................................................................52.1.................................................................................................................................................52.2.................................................................................................................................................62.3.................................................................................................................................................6Task 3...............................................................................................................................................73.1.................................................................................................................................................73.2.................................................................................................................................................83.3.................................................................................................................................................9Task 4.............................................................................................................................................104.1...............................................................................................................................................104.2...............................................................................................................................................10Conclusion ....................................................................................................................................11REFERENCES .............................................................................................................................122
INTRODUCTIONAspect so contract are very important for execution of desired function of any businessand there should be proper understanding of it. A contract is a written or verbal agreementbetween to parties and that is intended to be enforceable by law. In the preset report the essentialelements required for the formation of a valid contract has been explained. The impact ofdifferent typed of contracts is also discussed. Along with this, terms in contracts with referencestheirs meaning and effects has been analyzed. Apart form that the elements of Tort of negligenceand defenses in different business situation is appliedTASK 11.1The contract is legal binding agreement between two or more competent parties. All theessential elements should be fulfilled for making a contract valid (Connolly and Hoar, 2014.).For making the contract enforceable is must be legal and not be in violation of law or againstpublic policy.The following are the essential elements required for the formation of valid contract:Offer and acceptance: For creating valid contract is is important that there should belawful offer by one party and accepted by other party without breaking law (Carter, andCourtney, 2016.). Further if there is no offer or acceptance then contract cannot be made.Intention to create legal relationship: Every party should have an intention for makingany lawful relation (Martin and Van Linden, 2015). If other party have no such intentionthen contract cannot be states a valid contact.Certainty: The terms and condition should be clearly define so that contract remaincertain. If the contract is not clear then it cannot be enforceable by law (SweetandSchneier, 2012). The terms of agreement should be clear and exact so that party realizethat they are willing to make a contract.Completeness: Both the party who is making contract and other who is accepting thecontract should agree and complete all the legal formalities. However, agreement shouldnot remain pending before it performances (Forstenlechner And Lettice 2008).3
Consideration: Consideration means deciding to person who give benefits to other party.The example of considerations is goods, money and services etc (Miles, Fleming andMcKinney, 2010.). the contract is made on exchange of promises. Capacity of the parties: The parties who are entering into a contract must be above theage of 18 year and should not be unconscious at the time of entering any legal contract(Olander and Norrman, 2012). Th person who is lacking in a legal capacity are invalidand cannot make any type of legal contract.1.2.Under the English law there are different types of contract and its impact on the contractformation. The circumstance and situation decide which type of contract can be formed and italso has positive and negative impacts (Dorfman and Cather, 2012). Following are the three typeof contract under English law.Face to face contract: In face to face contract two party make any legal agreements bysitting together. The both party agree with points which are included in agreements.Since, there is no clear evidence in the face to face contract because agreements is doneby the words of mouth (Marks, Marks and Jackson, 2013). There is no document signedby any party in case if any party break the rules then other party cannot claim in front ofcourt. The verbal contract is made in the case of Fisher V/s Bell. Written contract: In the written contract any type of legal agreement is made in writtenform. It is contractual relationship which can be maintained in written form. It is a writtendocument signed by both parties by agreeing all the terms and condition legally(McInnes, Kerr and VanDuzer, 2013). The impact of this contract is that it create asense of trust and confidence between two parties. When contract is break by any partythen other party can also claim in front of court. It can explained in appropriate manner inthe case of Spencer c/s Harding. Distance contract: In the distance contract there can be a contract can be formed inverbal form or in written form. According to the case of Harvey v/s facey contract ismade through a telegraph (Thampapillai, Tan and Bozzi, 2012). The impact of this typeof contract can be positives or negative. There may be any confusion or misunderstanding4
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