Contract Law and Business Models
Added on 2020-02-05
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ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS1
TABLE OF CONTENTSINTRODUCTION.........................................................................................................................3TASK 1:LO1.................................................................................................................................31. Essential elements required for forming a valid contract (AC 1.1)............................................32. Identification and explanation of Types of contracts that may be entered in UK by individuals and business (AC 1.2).................................................................................................................43. Different terms that are included in a valid contract (AC 1.3)...................................................5Task 2: LO2.................................................................................................................................51. Application of elements of contracts in the given business scenarios (AC 2.1)........................52. Application of law on terms in different contracts (AC 2.2).......................................................63. Evaluation of effect of different terms in given contracts (AC 2.3)............................................7Task 3: LO3.................................................................................................................................71. Contrasting liability in tort with contractual liability (AC 3.1).....................................................72. Explaining the nature of liability in negligence (AC 3.2)............................................................83. Explaining how a business can be vicariously liable (AC 3.3)..................................................9Task 4: LO4...............................................................................................................................101. Application of the elements of tort of negligence and defences in different business situation (AC 4.1).....................................................................................................................................102. Applying elements of vicarious liability in given business situation (AC 4.2)..........................11CONCLUSION ..........................................................................................................................11References................................................................................................................................132
INTRODUCTIONThe Civil law of UK covers the aspects of contracts in diverse form in books of law. Theagreement generally made between two or more parties enforced by laws with the legal bonds isknown as the contracts in the society. The negligence is the situation in which one of the partybonded in agreement fails to comply with the agreed terms and condition. Negligence of thecontract can be observed in the situation where there is situation of one not willing to participatein terms of the agreement.The contract can be seen in negligence if there is chance of perceivinginjury. The present assignment deals with understanding different contracts and terms ofcontracts for fulfilling legal aspects in the organisation.TASK 1:LO11. Essential elements required for forming a valid contract (AC 1.1)As mentioned by Featherstone et al. (2015, p.50), a legal agreement between two partiesenforced by law and accepted by two parties is called as contract. Every legal and valid contractincludes elements determining the viability and the contract of organisation or two parties.Freddy can use the following below mentioned contract for forming the business along withvarious terms.Offer: It is essential to have a contract which needs to be legalised by government andlegal authority for the better fulfilment of the offer and the contract. Offers mean an invitation ora proposal by an individual to another to show prime willingness of entering a legally bondedcontract (Smits, 2014, p.55). Freddy offered for the sale of the high definition TV for £145through e commerce. Acceptance: As inferred by Thomas and Wright (2016, p.67), a contract can be initiatedonly after the acceptance of the offer properly by one party to another. The acceptance dependsupon consideration proposed by one party to another party. Therefore, there is a need forsimilarity between offer and acceptance without modification. Layla responmded to thadvertisement and presented to buy to the high definition TV for £1253
Consideration: As mentioned by Micklitz and Reich (2014, p.800), the consideration inan agreement is one of the most important aspect, as the performance of the parties should bebased on the consideration. The consideration term marks the agreement to have something inreturn for the completion of the agreement. Freddy with no no other cjhoice in the offer, acceptedthe reply offer of Layla and decided to sell the product at £125. Intention: The term intention means that the every party need to have a commonintention of fulfilling the agreement maintain the consideration of the agreement. Since, theagreement between the charitable factors includes love, bond and affection, there needs to be anintention between two parties agreeing in one agreement. As per the contract there were no illintentions of Freddy and decided as he decided just to sell the product.2. Identification and explanation of Types of contracts that may be entered in UK by individualsand business (AC 1.2)Written and Oral Contracts: As supported by Dowell et al. (2013, p.445), writtencontracts are the agreement signed by two parties with mutual consent with signed paper for thebetter chance of providing evidence of the agreement.. The documents provided are duly signedby the parties on the consent of legal authorities. On the other hand, the oral contracts have nosuch documents in the agreement. Verbal agreement has no documents for supporting agreementin the future.Business to Business contracts: Agreements between two commercial units or bodies inthe society is called as business to business contract. The Business to business contracts arebound by law and generally deal with support of maintain the price and the quality of theproduct.Business to consumer contract: These contracts takes place between consumers and theseller of a product, where the seller agree to sell the object and the consumer who is willingaccepts the proposal; depending on satisfactory level of the consideration. In the above casescenario, Freddy and Layla were bided in a written contract as Freddy advertised, Layla acceptedand the consideration was accepted by both Layla and Freddy via mail, which is in written andcan be used in case of proof. 4
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