HND in Business Aspects of Contract Assignment Help (GC0896)

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 Analyze terms in contracts with their meaning and effect including remedies and damages.

Task 2.

2.1 Application of element 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:

Duty of care:

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

A business company needs to contract with different principles, rules, norms, and business agreements. According to Atiyah (2013), a business has to attitudes several agreements with its supporting holders including its customers and staff. Companies also need to accompany governmental laws and rules and regulatory frameworks when they make agreements with business contracts.

This report is grouped into four major sections. The first task describes how a contract is formed and the significance of essential elements required for the formation of a valid contract in Peter Abraham’s business. It also discusses the impact of forming contracts in terms of face to face, distance selling, and written contracts. It analyzes terms in contracts with their meaning and effect including remedies and damages. The second task explains the application of the element of contracts in the given scenarios. It applies the law to the terms of several contracts. It also evaluates the effect of different terms in the given contracts. The third task explains the similarities and differences of liability in tort with contractual liability. It also describes how liability for negligence can arise and the conditions needed to be met for a claimant to successfully prove negligence. It also explains the terms ‘vicarious liability’ and how a business like Tesco can become vicariously liable. Task four applies the elements of the tort of negligence and defenses in the given business scenarios. It also applies the elements of vicarious liability in a given business situation.

Task 1

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

According to MacMillan and Stone (2012), a business contract mentions the conduct among two groups that legally practicable. On the other hand, the contract that is lawfully practicable is known as business contracts. According to Mathews (2014), a legal contract can be produced in different ways for example, in writing, by e-mail, verbally, by website, by behave and act. A valid contract contains a number of components. These components differ from business to business. The main components of the legal agreement are described below in Peter Abraham’s business.

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Offer

According to Simon and Gillian (2014), an offer is the first component of a legal contract. Offer is a primary stage of legal business contracts. Offer is the traditional manifestation of agreement and intention from one group to another group. According to Wedderburn (2012), when one group expresses a desire to another group with an agreement is known as an offer. Offer is such a communication system among two organizational business groups. In terms of Peter Abraham’s business, several types of agreements are generated where several types of offers should be involved. For example, if Peter Abraham wants to buy a computer for his business organization, first he should make an offer with the company.

Acceptance

Acceptance is the second important component of a business contract. According to Mathews (2014), acceptance is a kind of business agreement that consists of a defined method in an offer. In Peter Abraham’s business organization, acceptance can be considered as a legal business organization agreement in some conditions. If the offer made to the new employee is concurred by the new employees or shows a positive response towards the job offered, then the acceptance is completed. In other cases, if the client agrees with the offer made by Peter Abraham, then the acceptance is completed. This means the second part of a valid contract includes acceptance. In addition, any counteroffer is also considered acceptance. If the acceptance is not successfully completed, the contract cannot be moved.

Considerations

According to Mathews (2014), consideration is the third significant component of a business contract. Consideration is the enforceability of laws that are needed to form a contract. Consideration in a contract does not need to be sufficient but it is important to defend the concerned parties from breaches of contract. In a word, consideration includes some interest, benefits as well as rights in a contract. For example, Peter Abraham offers to one of the suppliers to buy 10 units of products…………..

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