HND in Business Unit 5 Assignment on Aspects of Contracts (GC0901)
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 obeying 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
A business organization needs to deal with several rules, norms, principles, and business contracts. Most importantly, the business has to conduct many contracts with its stakeholders mainly with employees and dealers. Organizations also need to obey the legal and regulatory frameworks when they deal with any business contracts (Collins, 2013).
Various types of features of contracts and neglect are the main terms in this assignment. “Business contract” is described in the primary portion of this assignment. The processes of creating a valid contract are also described in this portion involved with Peter Abraham’s business. After that, this section discusses the influence of the written contracts, face-to-face contracts, and distance selling contracts for Abraham Business. For peter Abraham’s business, condition, guarantee, and exception clauses which are the terms for agreements are described in this portion. In the next portion, components and conditions of business agreements are used in various businesses situation. At the third portion, various type of negligence in business is described. This portion also described the various responsibilities of the agreements. In the last portion, components of explicit liability in addition to neglecting are used for various case outlines.
Task 1
1.1 How a contract is formed and the importance of the various elements of a valid contract
The contract between parties and if the contract is lawfully possible then it will be defined as a business contract in accordance with MacMilan, and Stone, (2012). We can make a valid contract in different methods for example in words, in writing, with the help of the website and electronic ways, by operate, by perform and deducing. A valid contract comprises some features. On the other hand, these features differ from business to business according to Mathews, (2012). A valid contract’s main features are listed and discussed in the case of Peter Abraham’s business below.
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The Offer
Offers refer to a promise in terms of performance by another party. According to Simon and Gillian (2015), and offer in a business agreement can be described as the compliance that has a great influence in a contract in buying/selling of individual manufactured goods and services. An offer can be terminated and revoked in a specific situation. However, an offer can be negotiated for creating a counter-offer. The offeror (one party) makes an offer that is accepted by offerees creating a binding contract. At a business, agreement Offer is a very important factor of a valid business contract because it is the starting level of it. Wedderbum (2013) said that while one group presents compliance to another group with dealing, it can be defined as an offer
Acceptance
Acceptance refers to an expression of assent to its terms. Acceptance must be created following the manner of an offer. However, acceptance can be made in reasonable situations. Acceptance is considered valid when the offeree knows about the offer and the offeree manifests the intentions to accept that offer. In a word, acceptance is considered as the unconditional and unequivocal agreement in case of an offer. At a business contract, Acceptance can be described as compliance’s expression toward its period. According to Mathews (2015) at a business contract, Acceptance can be built in a particular way according to the offer. An acceptance is measured in Peter Abraham business in various conditions: a) at the time of the acceptance is expressing like without condition and unambiguous contract; b) at the time of the offered apparent compliance or purpose to take; c) at the time of the offered recognize concerning the offers and also many other conditions………………
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