logo

Aspects of Contract TABLE OF CONTENTS

   

Added on  2020-01-07

12 Pages3896 Words111 Views
Aspects of Contract

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1................................................................................................................................................11.2................................................................................................................................................21.3................................................................................................................................................3TASK 2............................................................................................................................................32.1................................................................................................................................................32.2................................................................................................................................................42.3................................................................................................................................................5TASK 3............................................................................................................................................53.1................................................................................................................................................53.2................................................................................................................................................63.3................................................................................................................................................6TASK 4............................................................................................................................................74.1................................................................................................................................................74.2................................................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9

INTRODUCTIONLaws are an imperative part of life as it safeguards the rights of individuals from all sortof wrong deeds and actions persuade by other people. It demonstrates various terms and kinds ofcontract which are crucial to have an in depth knowledge regarding the English Law. The currentresearch report revolves around various aspects of contract that is essential form a validagreement between the binding parties. Main purpose of this report is to provide reader anunderstanding of the essential elements to form a constricting contract as well as to apply theseterms and clauses in diverse circumstances(Gray, 2010). A clear distinguish-en is made betweenconditions and warranties as well as contractual and tort liability. In addition to it, vicariousliability has been successfully explained along with the nature of negligence.TASK 11.1As per the English law demonstrates that an agreement can only be termed as valid whenthere are all essential elements of a binding contract present in it. In order to get a deepunderstanding of it, some of them have been highlighted underneath with its relevant casestudies:Offer and Acceptance: In accordance to the laws, there shall be an offerer who isproposing an offer to the another party which when accepted by the acceptor becomes abinding contract between the two. With reference to the Carllil v Carbolic Smoke ballcompany case which states that the firm created an offer by putting an advertisement inthe newspaper to consume at-least 3 smoke balls according to the printed instructions onthe product. The person who causes influenza while performing the prescribed taskminimum 2 times a week will be rewarded with the some of 100 pounds. Mrs Carllilaccepted the offer and she entered into a binding contract with the company. Further, shecaught flu and claims that all the conditions were fulfilled by her so she must receive therespective amount of money.Capacity: A person is only deemed to enter into a contract, if it has crossed the age of 18years(Bell, 2011). This is so because as per the English law a minor cannot into anybinding contract as it is not eligible to understand the terms and conditions governing thecontract. Likewise, a person cannot be asked to form a contract when he/she is of1

unsound mind. These constitutes of an individual with unsound mind and drunker as theyare not in capacity to form a legal contract.Intention: This element has been raised in order to avoid certain cases which are notentitled to bring to the judiciary. Each and every agreement cannot be treated as a validcontract between the binding parties. Citing example from the Balfour v Balfour case, ahusband was conducting its business internationally. He sent monthly maintenancecharges to his wife, when they were happily married. With passage of time, therelationship between the two soured and the husband stop sent the prescribed amounts.The wife claimed for the respective sum of money by the enforcing actions against him.The court stated that their was no intention to create a legal agreement between thehusband and wife and it was strictly a domestic agreement between the two(Goldberg andZipursky, 2007).1.2There are varied kinds of contract which binds the two parties in the legal obligation toperform their duties and responsibilities. The impact of these agreements of the respective peoplehave been enumerated hereunder:Unilateral Contract: It can be stated as a contract wherein one party promises to performcertain obligations. The contract is formed on the basis if nominal consideration isoffered by the offerer in form of reward to the general party. The offer can be made in theform invitation to treat, advertisement and display adverts. This can be specifically beenunderstandable from the Carllil v Carbolic Smoke Ball company wherein the innocentparty accepted the offer after reading the advert in the newspaper. He performed theprescribed act according to the laid instruction in a need to avail the respective amount.The firm refuses to pay the sum of money stating that their was no acceptance made onthe part of Carllil(Ole Lando and Commission on European Contract Law, 2003). Thecourt held the defendant liable demonstrating that it is a unilateral contract made betweenthe binding parties whereby the company created an offer in general and the same hasbeen accepted by the Carllil. Bilateral Contract: In contrast to the above described agreement, there is anothercontract which involves two or more parties that come together to form a bindingcontract, agreeing to the stated terms and conditions. As per the Bilateral contract, both2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Business Law Assignment: Contract Formation and Promissory Estoppel
|7
|1937
|402

Contract Law Issue - Assignment
|6
|963
|73

Requirements of Binding Contract Assignment
|8
|2407
|300

Remedies for Breach of Contract: Legal Advice for Adam vs Edwin
|13
|4702
|458

Elements of Agreements Assignment
|8
|2316
|67

Business and Corporate Law: Assignment (Doc)
|8
|2534
|200