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Aspects of Contract and Negligence for Business Task 1.1 4 Identification of Essential Legal Elements for the Formation of Contract and Their Importance

   

Added on  2020-01-07

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ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS

Table of ContentsTask 1.1............................................................................................................................................4Identification of essential legal elements for the formation of valid contract and their importance.........................................................................................................................................................4Task 1.2............................................................................................................................................5The impacts of type of contract.......................................................................................................51) Bilateral and Unilateral contracts................................................................................................52) Void and voidable contracts........................................................................................................53) Distance selling contracts............................................................................................................6Task 1.3............................................................................................................................................6Analysing the meaning and effect of contracts................................................................................6Task 2.1............................................................................................................................................8Analysing the terms of contract by applying each of the essential legal elements for a validcontract............................................................................................................................................8Task2.2a...........................................................................................................................................9a) First situation...............................................................................................................................9b) Second situation..........................................................................................................................9Task2.2b...........................................................................................................................................9Advice given to Cathy by applying the common law rules.............................................................9Task 2.3..........................................................................................................................................10Evaluation of the effect of the exclusion clause on Cathy’s contract............................................10Task 3.1..........................................................................................................................................10AC 3.1 Differentiate between the tort liability and the contractual liability.................................10AC 3.2 Explaining the nature of liability in tort negligence..........................................................11Task 4.1a........................................................................................................................................12

AC 4.1 Advising Janet for succeeding the negligence action in tort.............................................12Task 3.3..........................................................................................................................................13AC 3.3 Explaining the process through which the business can be liable vicariously..................13Task 4.1 b.......................................................................................................................................141. Explaining the feature of liability in tort of professional negligence misstatement..................142. Advising Angelina for having the rights, remedies against Christian.......................................143. Advising Angelina against Brad................................................................................................15Task AC 4.2...................................................................................................................................15Explaining the defences for Christian Auctioneers and for Brad..................................................15Reference List................................................................................................................................17

Task 1.1Identification of essential legal elements for the formation of valid contractand their importanceA contract is an official agreement between two persons. The agreement can be in the written orin the oral form. According to Hart (2017, p.584), Contracts are written using some formal andinformal terms that are written in the agreement or are verbally spoken to the client. A contract isthe official agreement done between two or more parties and the agreement is finalise in thecourt where the court takes the final judgement. Some important elements of the contract areessential for contract to become valid (Thomas, 2017, p.570). The elements are- offer, intention,acceptance, consideration, certainty, capacity and intention to create legal relation. If theseelements lacks in the contract then it is considered as invalid.The first element of the contract is offer that means the agreement done by the parties. If there isno offer in the contract then there will be no contract. The offer finalises the fact that the contractis legal or not. For the purpose of the offer, at least two parties should be there to be legallyapproved (Meng, 2017, p.50). The next element in the contract is the acceptance of the contractfrom the other party. The third party go through the rules and regulations being offer in thecontract and accepts the contract. The next important element is the consideration of the contact.The consideration in the contract includes the exchange made by the two parties. The inclusionof the consideration in the contract is important as it makes the contract valid.The fourth element is to create legal relations. It is one of the important requirements of thecontract. It is the intention of the parties to create the legal relations. If there is no intention of theparties to create the legal relations then the subject in the contract is considered as unlawful. Thefifth element is the contract is the certainty (Perry, 2016, p.28). All the terms and conditions areproperly understood and followed by the parties of the contract. The certainty of the contract isvery important as if there is no certainty in the contract then it is considered as invalid. The lastelement in the contract is the total capacity of the parties to legally to do the contract. The personmore than 18 years of age is considered as legally capable to take part in the contract.

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