TABLE OF CONTENTS TASK BRIEF A 3 DIFFERENT ELEMENTS OF CONTRACT LAW 3 RIGHTS AND RESPONSIBILITIES FOR BOTH BUSINESSES AND CUSTOMERS 3 SOLUTIONS IN CASE OF BREACH OF A CONTRACT 4 Task 1 (with reference to Case Study 1) 4 Task 2 (with reference to Case Study 2) 5 TASK BRIEF B 6 WITH REFERENCE TO CASE STUDY 3 6 COMPARE AND CONTRAST LIABILITIES 6 NATURE OF LIABILITY IN NEGLIGENCE AND ITS EFFECT ON BUSINESS 6 TASK BRIEF C 7 DETAILED EVALUATION OF TORTS, THEIR NATURE, ELEMENTS OF TORTS AND DEFENSES 7 Task 4 (with reference to Case Study 4) 7 REFERENCES 11 Task Brief A Different elements of contract law Contract is like a confirmation on some pre-decided and agreed-upon terms and conditions by all the parties involved in any business dealing, thereby binding them under the same state of affairs legally. In order to avoid disagreements or unwelcomed liabilities later on, the parties involved in the contract set out some definite and clearly stated rules or terms of contract so that when the contract is signed, both the parties are on the same page. A contract is supposed to comprise of the following elements: there should be an offer between at least two parties, the acceptance of contract by all the parties signing up for the contract, an intention of entering a legal binding by all the participants of contract and lastly, involved parties should support the contract through mutual consideration of benefit. Rights and responsibilities for both businesses and customers There is always an underlying contract that binds employers and employees, businesses and customers together with some rights as well as responsibilities. Deviance from the contract terms by either party can result in the breach of the agreement that can have dire consequences, ranging from loss of trust to financial damages. One party’s right warrants the other party under a responsibility. Businesses have the right to independently assume any activity until it fulfils the customer requirements, similarly abiding by the terms of the contract, like paying in time and agreeing to the automatic dissolution of contract by the end of term, enables the customers to fulfil their duty towards the business. On the other hand, it is customers’ right to get the promised quality or quantity of product and service against the payment they make and be informed of any details that can pertinently affect their rapport with the business. Inking down the contract and making it accessible to the customers can make it easier for businesses as well as customers to define the extent to which both parties follow the terms of the contract.
The four elements to a contract are an offer, an acceptance, an intention to create a legal relationship, and a consideration (usually money). The first and second element of a contract is the agreement, which is made up of an offer and an acceptance of a contract. The elements of an offer are (1) serious intent
The second element would be offer and acceptance. The parties entering the contract must be satisfied with the offer that is being made and the other party must be willing to accept the offer.
Most if not all managers will likely find themselves working with contracts on a consistent basis. Oftentimes a manager will be presented with contracts that they have to sign or review for the purpose of employing an applicant. Contracts are also used when in the procurement merchandises for the business or other purposes. Whatever is the case, managers and others have to comprehend the process of contract law.
Contracts are legal binding agreements whether verbally or written between two or more competent people. They also can be contractual agreements between businesses for services or goods, employment, trade, or lease. Regardless of what type of contract the parties are entering there are six elements they need to follow in order to come to a successful legal understanding. Contracts are built on the fundamentals of offer and acceptance, intention to create legal relations, consideration, legal capacity, consent, and illegal and void contracts. Any contract which represents false statements, unwarranted
A contract is an agreement between two parties in which one party agrees to perform some actions in return of some consideration. These promises are legally binding. The contract can be for exchange of goods, services, property and so on. A contract can be oral as well as written and also it can be part oral and part written but it is useful to have written contract otherwise issues can be created in future. But both the written as well as oral contract is legally enforceable. Also if there is a breach of contract, there are certain remedies for that which are discussed later in the assignment. There are certain elements which need to be present in a contract. These elements are discussed in the detail in the assignment. (Clarke,
Contractual agreement has always been viewed in terms of offer and acceptance. The universal principle to contract law has always been parties may get into an agreement in whichever way they deem fit and they are subject to certain terms as they choose. As far as legal requirements vital to their formation are binding contracts may be formed. Moreover a binding agreement may be manifested in terms of writing or in verbal form.
There are three basic essentials to the creation of contract which will be recognised and enforced by the courts. These are: contractual intention, agreement and consideration.
A contract is an agreement which has its specified terms and conditions between two or more parties in which there is a promise to do something in return for a benefit.
The contract is a voluntary, deliberate, and legally binding agreement between two or more competent parties. One party makes an offer that is accepted by the other party. If without mutual assent, there is no contract. Every contract must involve at least two parties that are the person who proposes
The elements of a contract consist of an offer, an acceptance, a consideration and an intention to create legal relations.
An agreement cannot become a contract unless it can be enforceable by law. To be enforceable by law, a contract must contain all the essential elements of a valid contract.
A contract may be defined simply as a legally binding agreement. Alternatively, it may be defined as a promise or set of promises which enforces the law.
The case presented is that of Sam Stevens who resides in an apartment. He has been working on an alarm system that makes barking sounds to scare off intruders, and has made a verbal agreement with a chain store to ship them 1,000 units. He had verbally told his landlord, Quinn, about his new invention and Quinn wished him luck. However, he recently received an eviction notice for the violation of his lease due to the fact that his new invention was too loud and interrupting the covenant of quiet of enjoyment of the neighbors and for conducting business from his apartment unit.
The basic law of a contract is an agreement between two parties or more, to deliver a service or a product. And reach a consensus about the terms and conditions that is enforced by law and a contract can be only valid if it is lawful other than that there can’t be a contract. For a contract to exist the parties must have serious intentions, agreement, contractual capacity meaning a party must be able to carry a responsibility, lawful, possibility of performance and formalities. Any duress, false statements, undue influence or unconscionable dealings could make a contract unlawful and voidable.
A contract is generally considered to be an exchange of promises or an agreement between parties which in due course legally binds the parties; this can be enforced by the English Law. A contract is always, referred to the basic foundations of Contract Law, which refers to promises being kept amongst two parties. It is clear that all people make contracts nowadays and do not even consider for a moment that they are forming contracts; these can be formal or informal, oral or written.