Business Law Essay

4580 words - 19 pages

Aspects of Contract and Negligence for Business |

Introduction 
The main purpose of the report is to recognize the aspects of Contract and Negligence for a Business. In these days, the business atmosphere is filled with agreements between industries and individuals. Whereas oral agreements may be used, maximum businesses use proper written contracts while engaging in actions. Written contracts deliver businesses and individuals with a lawful document affirming the prospects of both the parties and in what way negative situations might be resolved. Contracts are lawfully enforceable in court of regulation. Contracts often signify a instrument that companies practice to defense their ...view middle of the document...

2 Discuss the impact of different types of contract as requested 4
1.3 Analyse terms in contracts with reference to their meaning and effect 5
Task 2: Case studies 7
2.1 Apply the elements of contract in the given business scenarios 7
2.2 Apply the law on terms in the following contracts 7
2.3 Evaluate the effect of different terms in the given contracts 8
Task 3: Vocational scenario 10
3.1 Contrast liability in tort with contractual liability 10
3.2 Explain the nature of liability in negligence 12
3.3 Explain how a business can be vicariously liable 12
Task 4: Case studies 15
4.1 Apply the elements of the tort of negligence and defences in the given business situations 15
4.2 Apply the elements of vicarious liability in given business situations 16
Conclusion 17
References 18

Task 1: Scenario
1.1 Explain the importance of the essential elements required for the formation of a valid contract
 
Agreement (acceptance and containing): The existence of an acceptance and an offer are a technique of dissect procedure of plan to select whether agreement has been completed and supposing this is the circumstance, while it was prepared (Phillips and Reese, 1948). Common accord of the parties is the crucial of an accepting.

Capacity: Parties who have perimeter have the capability to go into the overview an enforceable and legitimate contract. Individuals who are beneath time of having genuine mental inability don't have legal limit to pass in into a contract.

Consideration: Consideration is the value given by party for the assurance that is continually made. Normally assumption takes the display of cash, administrations and property.

Consent: If a party doesn’t arrive in the declaration readily, the consideration could be observed as invalid. Qualified assent into agreement may be influenced by numerous issues.

Lawfulness: Any consent to disrespect the rule or any declaration illegal by the law is considered as void. Contracts are illegal for two clarifications: first, in light of the circumstance that their object is unlawful: moreover, since notwithstanding the circumstance that the article is superbly genuine, the method of manufacture it is in contradiction of the law (Phillips and REESE, 1937).

Certainty: All the rapports of an arrangement must be clear and precise such that parties realize that they are agreeable to.

1.2 Discuss the impact of different types of contract as requested

Face to face: In a face to face contract, both the offeree and the offeror are present during the commencement of the contract. An absence of any one of the party will hinder to commence a contract. The major benefit of face to face contract is that, both the parties can understand the terms of the contract very clearly and it results in a minimum possibility of breach of the contract (Wilding, 1998).
Written contract: It is a document presenting all the conditions and terms that parties to contract have arrive...

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