Aspects of Contract and Negligence for Business Essay

2845 Words Mar 16th, 2014 12 Pages
2013

Aspects of Contract and Negligence for Business

Aspects of Contract and Negligence for Business

Table of Contents

Introduction………………………………………………………………………………………4
Explain the importance of the essential elements require for the formation of a valid contract…………….5
Discuss the impact of different types of contract……………………………………………………………………………………5
Analyze terms in contracts with reference to their meaning and effect…………………………………………….…..6
Apply the elements of contract in given businesses scenarios……………………………………………………………….7
Apply the law on terms in different contracts……………………………………………………………………………………..…7
Evaluate the effect of different terms in given contracts……………………………………………………………………....8
Duty of care in the tort of
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This is because it allows the courts to award damages in tort in some circumstances where it is not possible to do so in contract. It has also been used creatively to compensate people for financial losses in business contexts where no other remedy was available.

1.1 Explain the importance of the essential elements require for the formation of a valid contract

Agreement (containing offer and acceptance): The presence of an offer and an acceptance are a method of dissect the procedure of arrangement to choose whether an agreement has been made and assuming this is the case, when it was made. Common consent of the party is the essential of an understanding.

Consideration: This is the worth given by the party for the guarantee that is constantly made. Generally thought takes the manifestation of cash, property and administrations.

Capacity: Only party who have limit have the ability to enter the introduction a legitimate and enforceable contract. Persons who are under time of have genuine mental incapacity don't have lawful limit to enter into contract.

Consent: If the party doesn’t enter onto the assertion readily, the understanding could be viewed as invalid. Certified assent into an agreement might be influenced by various issues.

Certainty: All the terms of an agreement ought to be clear and exact such that the party realize that they are consenting to.

Lawfulness: any consent to disregard the law or any assertion