This report provides a detailed analysis of contract law, beginning with the essential elements of a valid contract, including offer, acceptance, consideration, and the distinction between an offer and an invitation to treat. It then examines how these elements apply in a specific scenario involving Dilon and Joe, exploring the formation of a contract for the construction of fitness machines. The report further contrasts contractual liability with liability in tort, focusing on the nature of liability in negligence and how businesses can be held vicariously liable. The final sections apply these legal principles to different business situations, analyzing elements of the tort of negligence and defenses, along with the elements of vicarious liability. The report draws upon relevant case law and legal principles to provide a comprehensive overview of contract law and its implications.
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