Sample Assignment on The Aspects of Contracts_ HND in Business (GC900)

Table of Contents

Introduction.

Task 1.

1.1        How a contract is formed and the importance of key elements required for the formation of a valid contract

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

1.3        Analysis of the terms condition, warranty, innominate terms, exemption clauses.

Warranties.

Conditions.

Innominate terms.

Exclusion clauses.

Task 2.

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 Contrast liability in tort with contractual liability.

3.2 Explain the nature of liability in negligence.

3.3 Explain how a business can be vicariously liable.

Task 4.

4.1 Apply the elements of the tort of negligence and defenses in the given business scenario.

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

Conclusion.

Introduction

Business success depends on several factors where the contract is one of them. A valid contract is a willful agreement between two persons or a group of people. The aspects of contracts and negligence are considered as one of the key issues in business terms. If organizations fail to deal with these issues, it might be a big problem for the business. This report outlines several factors related to business contracts and negligence.  The terms ‘business contracts’ and elements of valid contracts are discussed in the first section of this report. In addition, different kinds of contracts including face-to-face, written, and distance selling have been discussed here. The second task focuses on different types of cases and contracts law applications. In the given contracts, it also evaluates the effect of different terms. The contractual liability is described by the third task. A ‘Vicarious liability’ term is focused on it. It also focuses on how a business can become vicariously liable. Finally, business negligence and vicarious liability have been discussed and applied in different business cases.

Task 1

1.1   How a contract is formed and the importance of key elements required for the formation of a valid contract

The contract is a lawful agreement between two business groups. But in lawful terms, it has a magnificent definition. For creating a lawful contract, several numbers of elements are needed. The main components are consideration, appetence, capacity, offer, intention to create legal relations, and certainty. The business contract components and their important use in a company are described below.

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Offer

Offer is the first component of a contract. It is also a very significant part. In this part, one group creates an offer to the other group. In addition, other things must be considered in determining an offer in a valid contract. There are some offers that need to be completed within very tight time schedules. In this case, the parties involved in the contract must respond within the time limit accepting the offer. In terms of Peter Abraham’s business, he needs to deal with several business contracts, whereas in the first step he must follow the offer as an element of valid agreement or contracts. In addition, Peter Abraham must do a lawful contract offer.

Acceptance

Acceptance is the second contract law in business organizations. Acceptance is come by after finishing the offer contract law. Acceptance refers to one party’s compliance in conducting a contract and making a valid offer. If the acceptance has some changes then the offer should be rejected. The group must be accepted the changing offer, then the acceptance should work. Peter Abraham has a lawful acceptance also which is a response by other groups. Peter Abraham needs to deal with several types of acceptance follows regulatory framework such as implied acceptance, express acceptance, and conditional acceptance.

Considerations

Consideration is one of the key elements of making a valid contract. Thus, the parties must think about consideration carefully. In consideration, both parties discuss the merits and demerits of every contract. One party justifies the promise and exchanges given by the other party. Then, both parties decided they will come under contract or not. Peter Abraham needs to do several business contracts and need to do lawful consideration. The two groups create a lawful valid contract among them by making several types of considerations.

Intention to create a legal relation

There must have a legal relationship between the two business groups. It is the first and foremost valid contract to make a legal relationship between the two groups. Peter Abraham and other groups have lawful legal relationships between them.

Competent Parties

According to Atiyah (2014), Groups must be authorized and contract a valid contract. Both groups must have a legal relationship. Peter Abraham and the other groups must have a better relationship by the means of mentally, physically, and with a valid to create a lawful relationship.

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