Aspects Contract Negligence Assignment | Aspects of contract and negligence

Aspects Contract Negligence Assignment | Aspects of contract and negligence

Introduction

Aspects Contract Negligence Assignment order to start any business it is essential to understand the ways of applying the laws, principles and norms of the contract in an appropriate way. Contracts are considered as the valid conformity between one or Aspects Contract Negligence Assignment | Aspects of contract and negligencemore than one parties that is enforcing by the law. A contract is very essential in order to execute any business. In this project report, the basic contract areas will be discussed which should be taken consideration by any businessman. The significance of a contract would be analysed in this paper.

Task 1 Understand the essential elements of a valid contract in a business context

Explain the importance of the essential elements required for the formation of a valid contract

There are various elements available that make a contract valid and on the basis of case study Mr. William wants their employees to learn the essential elements that could make a contract valid.
Offer and Acceptance – offer is the primary step to start a deal or a contract and an offer must be lawful and if the other party accept the offer with its terms and condition then that offer is considered as the agreement and agreement of both parties makes a valid contract.
Consideration – to make a contract valid it is important to have a lawful consideration. Consideration is the value which is being paid or exchange in term of any products or services on that basis a legal contract could be initiated. Consideration is being given by the one party to another party in the monetary and non monetary form which is decided by both parties communally. [Vettori (2007)]
Capacity of the party – all the parties who are involving into the contract must be capable to make a lawful relationship with one another. All the parties must be legally, mentally and physically capable to enter into the contract.
Consent must be free – in a contract consent of both the parties must be free as it should be made without any coercion or forceful act. All the parties those are entering into the contract must be agreed in a same manner and on the same thing. Consent of the parties must not be created by some of these activities fraud, undue influences, coercion, etc.
Lawful object – an agreement or the object of a contract must be valid for making a contract acceptable. Object is not the same thing like consideration it explain the agreement purpose and that must be valid. An agreement would be valid if it is not involved by any fraudulent activity, is not forbidden by the law, includes any injury or harm, etc. For instance, Ali rent a villa which is used for the purpose of gambling so this contract is not valid in the sight of law. [Giliker (2010)]

Discuss the impact of different types of contract in terms of forming, binding and enforceable contracts under English law.

Aspects Contract Negligence Assignment | Aspects of contract and negligence

For the benefit of Mr. William it is essential to know the different types of contract as listed below:

  • Bilateral Contract: Contracts that are two-way contracts are known as the bilateral contracts. Such contracts involve an exchange of promises and that the other party is obliged to perform the same. For example a sale of goods contract is a bilateral contract as it contains a promise of paying money for the goods and services so bought.
  • Unilateral Contract:Contracts that does not require an acceptance to be entered into is called to be a unilateral contract. The parties under such contracts are unknown until the contract is entered into by the parties. Such a contract is a reward contract whereby the reward is paid for the person accomplishing a certain action. [Cooke (2007)]
  • Simple Contract: Contracts that are basic in nature and concluded either in writing or oral are known to be the simple contracts. It is essential to enter into a contract to safeguard the interests of the weak and tactless people.
  • Implied Contracts: Contracts that re implied to be performed are regarded as the implied contracts. Such contracts are despite of not being written are essential and the non-performance of the same would amount to damages and breach of contract.
  • Express Contracts: Contracts that are presented in writing and have every term pointed out from the beginning are known to be the express contracts. Such contracts are certain and can be presented as an evidence in case of breach to demand damages or specific performance.
  • Executory and Executed contracts: Contracts that have not been performed are referred to as the executor contracts and the contracts that are completely performed are known as the executed contracts. [Richards (2006)]
  • Void and voidable contracts: An invalid contract is referred to as the void contract and the contract that is breached but is enforceable still is known as the voidable contract.

Analyse terms in contracts with reference to their meaning and effect:

  1. Condition: The term that defines the character of the contract is regarded as the condition of the contract. Every contract has a basic purpose to it and the same purpose is regarded as the condition of the contract. Such terms are essential to be completed in complete execution of the same.
  2. Warranty: Terms that are important to the contract but not as important as the conditions are known to be warranties. Such terms are as essential to be performed. However, the non-performance for the warranties does not render the contract void. It may be continued after making a claim. As held under the case of Bettini v Gye (1876) 1 QBD 183 whereby for breaching the contract the employer was not allowed to end the contract. [Pratt (2000)]
  3. Express Terms: Terms that are expressly mentioned under a contract are known as the express terms. Such terms may either be in writing or oral but contain the specific terms related to the contract directly.
  4. Implied Terms: Terms that are not mentioned under a contract but are still to be complied with are known as the implied terms. Such terms are as important as the express term because the non-performance of the terms may result in voiding the contract.
  5. Exclusion Clause: Clauses that restrict the liability of a certain party in case of non-performance of the contract is referred to as the exclusion clauses. This is noted that certain clauses are not valid and hence may be referred to under the Unfair Contract Terms Act to lay down the legality for the same. As held under the case of Chapelton v Barry UDC [1940] 1 KB 532, whereby, exclusion clause was not included at the time of entering into a contract through action of acceptance. [Nel (2004)] Order Now

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