... administrative law, equity etc. In business world, we use different kinds of law & law of contracts is one of the most widely used business law which is basically used to understand future business related The Aspects of Contracts & Negligence for Businessissues in more predictable manner by people engage in contracts. Contract is basically a promise that gives the official commitment that the law will be enforced.Judicial activism, which creates law to be less predictable & more flexible, & judicial restraint, which makes law more predictable & less flexible, is two important issues closely related to contracts that need to be defined properly. Task 1: P1- The essential element of valid contracts in a business context: A contract, to be valid in a business context, must have some essential elements which can be basically classified in four major categories- ð Agreement- In every contract, there must be an agreement between two parties where one party needs to make any kind of valid offer & the other party needs to accept the offer made. ð Consideration- To be valid, every contracts must have some consideration on the basis of which they engage in the contract. There must be exchange of something. The subject matter of the contract may vary from contract to contract. ð Intention to Create Legal Relationship- The subject matter & everything related to the contract must be legal & there should...
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...Business | Unit title: Unit 5 Aspects of Contract and Negligence for Business | Unit code(s): Y/601/0563 | Learner: Aliya Theriault | Assessor:Svetlana Begalieva | Internal Verifier:Dinara Bobusheva | Title of Assignment:“Tramways Advertising v Luna Park”Grading criteria: P1.1, P1.2, P1.3, P 2.1,P 2.3,M1,M2,D1Related learning outcomes:LO 1: Understand the essential elements of a valid contract in a business context.LO 2: Be able to apply the elements of a contract in business situations. | Assignment Number:__1__of __2__for this Unit | Date assigned:September 25, 2013 | Date of review:October 18, 2013 | Date for final submission:October 25, 2013 | Learner declaration:I confirm that this assignment is my own work and any assistance received has been acknowledged and all sources have been stated.Signature: Date: October 25, 2013 | Scenario:First business scenarioThe tenant rent apartment for an eight month period. He will pay $ 800 per month. After the tenant had moved out, and when the property was left unoccupied. The tenant had decided to leave the property and early termination of the contract was agreed to by the landlord on the basis that replacement tenants were found. According to the scenario; apply and describe the elements of contract in formation of Rental Contract.Second business scenarioAs an employer, you want an employment contract that protects you and your...
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...TASK: ONE Identify the 4 essential elements required in the formation of a valid contract and for each one define and explain the legal principles established by case law. Use supporting case law/statue to illustrate your answer. Answer: A Contract is possible when there will be trade between two parties named buyer and seller for the sales and purchase of goods. When acceptance takes effect, a contact will usually be binding on both parties. Rules of offer and acceptance are typically used to determine whether the parties are obliged to fulfil their promises. Formation of a valid contact required some essential elements. Essentials Elements of a Valid Contract: 1. Proposal and acceptance 2. Consideration 3. Legal relationship 4. Enforceable by law Proposal and acceptance: The most important elements in a contract is an offer as without it no contract is possible and An offer would be not possible with the acceptance in order to create a valid contract. It is a definite promise to be bound on specific terms which must be legally valid or acceptable between two or more parties. After offering the goods it must be accepted by the related person. For example: Mr. hasan want to give an advertisement about hi products. He looks for the offer in an advertisement agency. He made the agreement with Agency to give a advertisement. The Agency will prepare a contract by making forms with terms and conditions and required documents which need to be filled up by Mr. hasan...
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...| |Unit 7: Aspect of Contract and Negligence | |UNIT TITLE & CODE | | | | |STUDENT ID |CT/HNDBM/50 | |STUDENT NAME | | | | |ASSESSOR |Mr. Seevali Amithirigala | | |1 of 1 |WORD COUNT | | |ASSIGNMENT | | | | |ASSIGNMENT HANDOUT DATE |21/11/2014 |ASSIGNMENT SUBMISSION DATE | | |ASSIGNMENT REVIEW DATEs | | |ASSIGNMENT RESUBMISSION DATE |09.01.2015 | |FINAL GRADE |ORIGINAL SUBMISSION | |RESUBMISSION | | ASSESSMENT CRITERIA TO BE ASSESSED IN THIS...
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...Unit Title: Aspects of Contrast and Negligence for Business contract that is signed by someone lacking legal capacity can be made void. 1.2 When getting customers for the hotel to sign a contract there can be many ways that are acceptable and professional. By getting them to agree verbally to stay in a room, there can be many pro's and con's of this form of contract. The advantages of having a contract like this is that they are extremely easy to modify and change in short notice. Written leases tend to contain more provision, qualifications and responsibilities. Oral contracts also tend to be more simple and easier to understand. Disadvantages of the oral contract is that without having a physical paper copy to look at, it can be difficult to determine what the terms of the contract where and what was exactly agreed on. More problems may arise if one party in the contract attempts to manipulate the fact that there is no hard paper evidence of the contract, they may try to change it to their advantage. The next potential type of contract for customers at the hotel that is being considered is signing printed terms at the reception. The advantages of this way is that it reduces risks because both parties have acknowledged the contract and there is even a signature to prove that both parties know what they have signed. Another advantage is that the written contract can provide clarity, they are well written and are clear in stating what the contract holds. Problems that...
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...scenario. Your report should be no longer than 3,000 words. 1 Differences Between Liability in Tort and Contractual Liability Contractual liability concentrates on what is in a contract and the obligations between the two or more parties of the contract. Both parties in contractual liability contracts are controlled by it and the terms stated in the contract cannot be broken. The terms of a contract must be fulfilled by both of the parties; otherwise consequences will follow if one party breaks the terms. Contractual liability contains conducting agreement and liability between businessperson and merchant. Tort law is used in situations where a person has done harm to another person. Liability varies significantly in tort law and contractual law in terms of issues of content. Contractual liability is based on agreement but tort law’s liability is not based on agreement. Also the way court provides compensations and how it deals with these two reflects on the difference between them. Contractual liability therefore concentrates on the contract and liability issues whereas tort of liability concentrates on what kind of harm or loss has the other party caused to the innocent party. In contractual liability both parties are aware and know well what they have agreed to when signing a contract. Usually only mistake or misunderstanding leads to breaking contractual liability. In tort of...
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...INTRODUCTION This report focuses on the identification of the aspects of contract and negligence for business. There are agreements and contract in every business in recent than before. Verbal agreements are usually no longer used by the businesses. Written agreement in the form of contract is ore preferable to all. But, the profitability of contract is incomplete if the regulations and aspects are unknown. Well acknowledgement of contract in business provides a legal documentation securing the expectations of the parties involved. Contracts work as a safety tool of the resources. On the contrary, negligence is rising into the cornerstone of our system for compensating people for accidental damage and injuries. 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. This report will help learners to understand in and all about the contract formation and negligence of contract in businesses. LEARNING OBJECTIVES TASK 1 Understand the essential elements of a valid contract in a business context TASK 2 Be able to apply the elements of a contract in business situations TASK 3 Understand principles of liability in negligence in business activities TASK 4 Be able to apply the principles of liability in negligence in business situations. TASK 1 LO 1.1 Importance of the essential elements required for the formation of a valid contract Offer and Acceptance: The existence of an offer and an acceptance...
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...Introduction The purpose of this assignment is to present our knowledge of the laws of contract and the various legal principals arising in each case. Explaining and applying the 4 basic elements of a valid contract as well as other aspects of contract including capacity to enter a contract, the postal rules, contractual terms implied and express, relevant law relating to discharge of contract, remedies for breach of contract, types of damages recoverable and remoteness of damage. There are 3 different cases interrelated but completely different from each other, Alex & Malcom Malcolm & Alex, Malcom & Cathy and Cathy & Malcom. We identified and discussed the relevant aspects of contract law. A contract is a legally enforceable agreement between persons to do different things” (2007) A contract can be very simple as in the above examples or they can be very complex. The same rules apply for every contract whether it is for €100 or €1 million. A contract can be: • In Writing • Orally • By inference (implied between the parties) In order to get a valid contract we need to know some crucial elements. • Offer – An offer is an expression of willingness to contract on certain terms. It must be made with the intention that it will become binding upon acceptance. There must be no further negotiations or discussions required. • Acceptance – The general rule is that acceptance is not effective until it is communicated to the offeror...
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...EDEXCEL BTEC Group: Ed excel HND Group Module: Unit 5 – Aspects of Contract and Negligence for Business Module type: Module Code: Y/601/0563 Module Credit: 15 Teaching Period: (12+3 weeks) QCF Level: 5 Contact Hours: (15*3.75 = 56.25) Lecturers: 12 weeks Revision Clinic: 1 week Feedback and assignment guidance: 2 weeks Lecturer: Mr. Dalton Vincent Start date: 01/10 /2013 Day: Friday Time: 10.00 – 13.00 & 14.00 – 17.00 Room: LH 2 & LH 3 Term: Winter Term CONTENTS 1. INTRODUCTION, AIMS AND OBJECTIVES 2. MODULE OUTLINE AND TEACHING METHODS 3. READING AND COURSE PREPRATION 4. LECTURE WITH DETAILED COURSE PROGRAMME AND OBJECTIVES 5. ASSESSMENT DETAILS 6. INTRODUCTION The unit introduces the law of contract, with a particular emphasis on the formation and operation of business contracts. Learners are encouraged to explore the content of these agreements and then develop skills relating to the practical application of business contracts, including offer, acceptance, intention, consideration and capacity. Relevant case law examples will be covered. Learners will consider when liability in contract arises, the nature of the obligations on both sides of the contract, and the availability of remedies when a contract is not fulfilled in accordance with its terms. Additionally, the unit will enable learners to understand how the law of tort differs from the law of contract and examine issues of liability in negligence relating to business...
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... |Unit number and title | |BTEC HND IN BUSINESS | Aspects of Contract and Negligence for Business | | | | |Student name Student ID |Assessor name | |Abu Rahman Hndb 5969 |Nathanial Owusu Frimpong | |Date issued |Completion date |Submitted on | |20-03-2014 |19-03-2014 |21-03-2014 | | | | |Assignment title |Aspects of Contract and Negligence for Business |...
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...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 negligence & Difference between liability in tort and contractual liability…….8 Explain the nature of liability in negligence……………………………………………………………………………………………9 The concept and elements of vicarious liability in business…………………………………………………………………..10 Apply the elements of the tort of negligence in business situations……………………………………………………..12 Apply the elements of vicarious liability in given business situations……………………………………………………12 Reference…………………………………………………………………………………………………………………………………………….13 Introduction The purpose of this report is to identify the aspects of Contract and Negligence for Business. Now days, the business environment is full of agreements between businesses and individuals. While oral agreements can be used...
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...ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS Unit code 6 STUDENT NAME CALIN ZIMBRAN Student ID: p1002572 London 2013 Contents The essential elements of a valid contract in a business context 2 The impact of different types of contract 3 Terms in contracts 4 Elements of contract in given business scenarios 4 Law on terms in different contracts 5 Effect of different terms in given contracts 6 Liability in tort vs. contractual liability 6 Nature of liability in negligence 7 Vicarious liability 7 Elements of the tort of negligence and defences in different business situations 7 Elements of vicarious liability in given business situations 8 References: 8 The essential elements of a valid contract in a business context There are 4 essential elements necessary to form a valid and legally binding contract: 1. Agreement, which means offer and acceptance (notice that even though we put in the same category, they should be treated as two separate entities); 2. Consideration; 3. Intention (to create a legal relation); 4. Capacity. Even though we have 5 elements, which must all occur in order to generate a contract, the most relevant and the main indicator of a potential legally binding contract are the offer and the acceptance. This step can be long and difficult but once it comes to a conclusion, steps 2 to 4 can occur at the same time. The offer An offer expresses the strong will of a person making the offer (the offeror)...
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...INTERNATIONAL COLLEGE OF BUSINESS AND TECHNOLOGY BTEC HND DIPLOMA IN BUSINESS (MANAGEMENT & HUMAN RESOURCES) ASSIGNMENT COVER SHEET 2014 INTERNATIONAL COLLEGE OF BUSINESS AND TECHNOLOGY BTEC HND DIPLOMA IN BUSINESS (MANAGEMENT & HUMAN RESOURCES) ASSIGNMENT COVER SHEET 2014 UNIT TITLE & CODE | Y/601/0563_ Aspects of Contract and Negligence for Business | LEVEL | 5 | | | CREDITS | 15 | STUDENT NAME | | STUDENT ID | | ASSESSOR | Mr. H.M.K.Herath | IV by | Mr. Mafas Raheem | ASSESSMENT | Individual Assignment | Word Count | 4000 | ASSIGNMENTISSUE DATE | 11.06.2015 | ASSIGNMENT SUBMISSION DATE | To be informed | ASSIGNMENT DISCUSSION DATE(s) | | | ASSIGNMENT RESUBMISSION DATE | | | | | | | | | FINAL GRADE | ORIGINAL SUBMISSION | | RESUBMISSION | | ASSESSMENT CRITERIA TO BE ASSESSED IN THIS ASSIGNMENT (Identify all criteria to be assessed in this assignment) Achieved Pass Criteria | LO1 | LO2 | LO3 | LO4 | | 1.1 | 1.2 | 1.3 | 2.1 | 2.2 | 2.3 | 3.1 | 3.2 | 3.3 | 4.1 | 4.2 | Original Submission | | | | | | | | | | | | Re submission | | | | | | | | | | | | Grade Achieved | Merit Criteria | Distinction Criteria | | M1 | M2 | M3 | D1 | D2 | D3 | Original Submission | | | | | | | On resubmission | | | | | | | AUTHENTICITY STATEMENT I certify that the attached material is my original work. No other person’s work or ideas have been used without acknowledgement. Except where...
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...Aspects of Contract and Negligence for Business *Unit abstract:- Introduction to the law of contract, with a particular emphasis on the formation and operation of business contract. Business contract shall be defined within the context of law of contract and business law . The former is narrower and the later is wider but all its components are subject to the essential elements of contract. Business law which is also known as mercantile law refers to laws governing and regulating trade , industry and agriculture . It includes laws relating to Contracts , Sale of Goods , Partnership , Companies , Negotiable Instruments , Insolvency , Carriage of Goods , Arbitration..etc. The difference between the law of Tort and the law of Contract is based on obligations and liabilities . In tort the obligations are imposed by law while in contract the obligation of the parties are created by their own free will and mutual consent. Key questions : 1.What are ...
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...Course Title: ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS Course Code: QCF/L5/0215 Assignment Number: 01 LCB Student number: LCB/2867 Student Name: DK. SITI NURUL HAFIZZAH BINTI PG. ALI HASAN Contents Task 1 a)3-4 1 b)4-5 1 c)5-6 Task 2 a)7 2 b)7-8 2 c)8 Task 3 a)9 3 b) 10 Task 4 a)11 4 b) 12 Task 5 a)13 5 b) 14 Task 6 a)15-16 6 b) 16-17 Reference List18 Task 1 TASK 1-1.1 a) For one to form a valid contract the party must fulfill the essential elements required for the function of a valid contract and one of them is to have the intention to create legal relations. It is simply defined as an intention to enter a legally binding agreement or contract. Without the intention, the contract may only become a mere promise because there is no legal binding between the contracting parties and the contract can be assumed as not legal. It is not sufficient for only one party to have the intention but not the other as the presence of mutual understandings and intentions between the contracting parties are needed to legally binding a contract. However, there is no intention to create legal relations when it comes to cases that involve with social, domestic and family arrangements. Balfour v Balfour 1919: “The defendant (the husband) promised to pay his wife £30 a month as health maintenance when she could not return to Ceylon with him under the doctor’s advice. When their marriage ended in divorce...
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