Unit 5 Aspects of Contracts Assignment with Sainsbury’s (GC0955)
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 Sainsbury’s 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 suppliers. Organizations also need to follow the legal and regulatory frameworks when they deal with any business contracts (Collins, 2014).
This coursework outlines different aspects of contracts and negligence. In the first part of this coursework, the term “business contract” is defined. This section also defines how a valid contract is formed in the business including Peter Abraham’s business. Then, this section discusses the impact of the written contracts, face-to-face contracts, and distance selling contracts in the case of Abraham Business. Next, this section discusses the term contracts: condition, warranty, and exemption clauses in the case of Peter Abraham’s business. In the second part, elements and terms of business contracts are applied in different businesses scenario. In the third section, different negligence in business is discussed. This section also discusses the similarity and differences between contractual liabilities and tor liability are explained. Then, this section discusses the vicarious liability along with the cause of raising liability of negligence. In the last section, an element of vicarious liability, as well as negligence, is applied in case of different case scenarios.
Task 1
1.1 How a contract is formed and the importance of the various elements of a valid contract
A business contract refers to an agreement between parties which legally enforceable. In another word, the agreement which is lawfully enforceable is called business contracts MacMillan, and Stone, 2012). A valid contract can be created in several ways such as verbally, in writing, by website and electronic means, by the act, by behave and inference. A valid contract includes a number of elements. However, the elements included in a contract vary from business to business (Mathews,2012 ). The key elements of a valid contract are discussed as follows focusing on Peter Abraham’s business.
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The Offer
Offer in a business contract refers to the willingness to take part in a bargain in buying/selling a particular product or service (Simon and Gillian, 2015). Offer is the beginning stage of a valid business contract. Offer is the formal expression of willingness and/or intention of one party to another party. When one party shows a willingness to other parties regarding dealing, it is called an offer (Wedderburn, 2012). This means the offer in a contract is communicated between parties of a contract. In terms of Peter Abraham’s business, different kinds of contracts of being created, where different kinds of offers should be included. For example, if Peter Abraham wants to buy a computer for his business from a supplier, he needs to do an offer first to buy the computer.
Acceptance
Acceptance in a business contract refers to the expression of assent to its term. Acceptance in a business contract is created in a specified manner following the offer (Mathews, 2014). Acceptance can be considered valid in terms of Peter Abraham in a number of situations: a) when the acceptance is disclosed as unconditional and unequivocal agreement; b) when the offeree manifests a willingness or intention to accept; and c) when the offeree knows about the offers. In many cases, the offer defines the methods of acceptance. In the case of Peter Abraham, acceptance can be oral/verbal, written, phone, in person, through online/website, email, by events/ceremony, etc.
Considerations
Consideration in a contract refers to the detriment to the promises or benefit the parties making promises (Mathews, 2014). In a valid contract, one party puts something of value which includes the other party to enter into the agreement. This exchange of values is lawfully called considerations. A valid consideration can include right, benefits, profits, and interest, alternatively responsibility or loss, etc (Collins, 2014)………..
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