Aspects of Contracts Assignment with Tesco (GC0882)

Table of Contents

Introduction.

Task 1.

1.1 How a contract is formed and the importance of the various elements of a valid contract

1.2 Discuss the forming contracts by means of face to face, written contract, and distance selling

1.3 Analyse terms in contracts with their meaning and effect including remedies and damages

Task 2.

2.1 Application of elements of contracts in the given scenarios.

Case 1: Agreement

2.2 Apply the law on the terms in the following contracts.

2.3 Evaluate the effect of different terms in the given contracts.

Task 3.

3.1 Explain the similarities and differences of liability in tort with contractual liability.

3.2 Nature of liability in Negligence:

3.3 Explain the terms ‘vicarious liability’ and how a business like Tesco can become vicariously liable

Task 4.

4.1 Applications of the elements of the tort of negligence and defenses in different business situations

4.2 Apply the elements of vicarious liability in a given business situation.

Conclusion.

References.

Introduction

Maintaining several issues related to valid contracts in business operations is an essential factor the business organizations. This is because businesses need to deal with several stakeholders including customers, suppliers, lenders, and others, where the businesses need to conduct several business contracts (Collins, 2013).

In this paper, several issues related to valid contracts are outlined and discussed. The first section of this paper discusses several elements of a valid contract and define them in term of Peter Abraham business. Most importantly, the face-to-face contract, written contract, and distance selling contracts are discussed here. Then, condition, warranty, and exemption clauses, which are the terms of a valid contract are defined and analyzed. In the second section, different terms of a valid contract are discussed applying different case scenarios. In the third section, the term negligence, and the difference and similarity between contractual liability and liability of tort are discussed. The last section outlines the vicarious liability with its application in a particular business case.

Task 1

1.1 How a contract is formed and the importance of the various elements of a valid contract

Contract in business is defined as the valid agreement between two or more parties, where the agreement is legally enforceable (MacMilan, and Stone, 2012). A business contract can be formed in several ways like written way, verbal way, and online, where the written way is effective and efficient. A valid contract includes a number of elements, where the key elements are offer, acceptance, consideration, enforceability in law, lawful object, competency and capacity. These elements of aspects of contracts are discussed as following in the case of Peter Abraham business:

Our Recommended Resources:

Managing Human Resource Assignment Example
Aspects of Contracts Assignment in The UKCBC HND in Business

Offer

Offer is called willingness to go ahead of buying or selling any products and services in a business contract (Simon and Gillian, 2015). In another way, an offer in a business contract is a formal way of expressing the intention of buying or selling products Wedderburn, 2012). This means offering in the business contract refers to the formal communication between two or more parties regarding business. Peter Abraham needs to do several business deals with its stakeholders, where it needs to show willingness or intention to do contract with the stakeholders. For example, if Peter Abraham wants to deal with a new supplier, it must first do offer to the supplier to come with a valid business contract.

Acceptance

Acceptance is the expression of agreement with the offer made by another party. In another way, acceptance is the formal way of considering an offer made by another party (Mathews, 2014). In the case of Peter Abraham’s business, acceptance can be formed in several ways. Firstly, acceptance can be revealed as an unequivocal agreement or unconditional agreement. Secondly, acceptance can be formed when an offeree manifests intention or willingness to accept. Thirdly, acceptance can be formed when the offeree has previous knowledge about offers. In the case of Peter Abraham’s business, several offers may come from the business stakeholders that need to be accepted by Peter in several ways such as written format, verbal way, face to face, email and online, etc.

Considerations

Consideration in a valid contract refers to the analysis and evaluate the merits and demerits of offered and acceptances (Mathews, 2014). In a valid contract, the values of the contract or values of other issues come under consideration lawfully and legally. Collins (2013) said a valid consideration may include profit and losses of contract, responsibilities, rights and interest. For example, the working hour and shift patterns included in the contract between Peter and employees may come under consideration which creates legal and lawful enforceability to obey by both business and employees………………

HND in Business