Unit 5 Various Elements & Laws of Contract Assignment

Unit 5 Various Elements & Laws of Contract Assignment

Introduction

A contract is an agreement in which two parties concur on a certain fact and enter into a plan for the exchange of promises that aids in fulfilling the contract’s terms. Plans for compensation must be given by both parties as consideration for receiving something of worth. The unit 5 assignment, “Variable Elements & Laws of Contract,” aims to give students a useful foundation in contract law and law of contracts. In order to give a useful set of knowledge and information, the assignment analyses and evaluates remedies and includes information on various legal doctrines and legal violations.

Task 1

1.1: Explain to Peter Abraham how a contract is formed and the importance of the various elements which has to be present to form a contract.

The following are some crucial contract components:

Offer: An expression made to a party with the intention of entering into a contract for a particular period of time is known as an offer. The offeror may make an offer with the intention of creating a contract. Offers come in a variety of forms, including invitations to offer and counteroffers. The offer must be explicit and understandable in order to define the type of contract (Richards, 2006). An agreed-upon offer is viewed as a counter offer that switches the position of the offer and offeree. Each time an offer is made, the one before it becomes void.

Acceptance: An offer is considered accepted when the offeror makes it to the offeree and he accepts the conditions set forth by the offeror. Offers can be resolved in a number of ways, including acceptance, rejection, withdrawal, counteroffer, and death. It is essential that it be clear and explicit in nature at the moment of acceptance (Giliker, 2010). It is essential that the acceptance be waived off in accordance with the contracts signed with the rest of the globe as they are being communicated. The acceptance of the contract by the party should be demonstrated by appropriate behaviour, not only by transmitting the acceptance. Taking into account: This describes a scenario in which a contract or agreement is made. When two parties negotiate about a single issue, this negotiation is seen as a consideration in which promises are made by both parties. Each side receives a certain set of advantages and experiences a setback. If a thought is sufficient, moves from the promissee, and is not of the past, it will be deemed legitimate. The consideration given shouldn’t be a portion of another consideration or be used to fulfil a contractual obligation where partial payment won’t be considered legitimate for full payment of the consideration (Bell, 2013). Intention: The intention of the contract is the purpose indicated by the offer. The purpose under a predetermined circumstance determines the legality of the contract. The goal of the contract is distinguished between social and commercial contracts based on the validity and enforceability of the agreement. A contract must be enforceable by law in order to be considered commercial, but social agreements are not enforceable by law unless specifically stated to be so. 1.2 Examine the results of contract formation.

Face-to-face agreements: A face-to-face contract is one where both parties are present and sign the agreement in front of one another. Typically, while entering into this form of contract, the parties sit across from one another. The contract’s terms and conditions are discussed and communicated to one another. Contracts made in person are often verbal and can be entered very quickly. Verbal agreements are challenging to prove in court. The time-saving contracts are those that are signed in person.

Written Contract: Contracts entered into in writing by the parties are referred to as written contracts. It is not required in this sort of contract that the face-to-face interaction take place at the time the contract is signed. Typically, the written contracts that specify the nature of the transaction include the price (Vettori, 2007). These kinds of agreements may be communicated and are simple to produce in court since written agreements can be used as evidence. Contracts for distance sales: Contracts for distance sales are those in which parties from various locations are involved. These are the contracts that do not call for meetings or talks. Depending on the intent of the parties, a distance selling contract might be executed at a reasonable distance. One example of a contract for distance selling is online sales. This sort of contract must specifically include the following items: the contract’s terms, any relevant taxes, the product’s pricing, a description of the products and services, the mode of delivery, etc. Under the Distance Selling Regulations of 2000, this form of transaction is regulated.

1.3: Give an analysis of the following terms in contract with reference to their meaning and effect as it may apply to Peter Abraham.

Conditions: The contract is subject to a number of critical clauses, which are referred to as conditions. All of the criteria must be fulfilled in their entirety since failure to do so would result in the contract becoming invalid. There are a number of requirements that must be met at various points, including prerequisite, concomitant, and follow-up requirements. Warranty: There are a number of secondary phrases that are taken to be warranties. Although a warranty is significant for a contract, its nonperformance has no bearing on the agreement. The agreement cannot be revoked for failure to comply with its terms. Specific performance and injunctive warranties may be reinstated by filing a lawsuit for damages. Depending on the nature of the guarantee, it may be a complete warranty, life warranty, specific warranty, or an implied warranty that may be inferred by law (Collins, 2008).

Task 2

2.1: Apply the elements of contract in the given business scenarios below.

Case 1: The situation is described in which a couch was advertised and a consumer named Carol expressed interest in buying the couch. As a result, the newspaper advertising cannot be considered an offer, but it may be considered an invitation to the offer. A published advertising in the newspaper indicates that the seller wants to entice offers from the market’s potential customers so they may buy the promoted product (Morgan, 2011). An invitation to offer signifies that the items are offered for sale in the market where the details of the price are disclosed. In this situation, the offeree has two options: accept the offer outright or engage in negotiations with the offeror. Case 2: Devi sought employment at George Smith and Fogarty Inc. in the realm of cyber-security. Devi’s case was presented. Devi did not want his father to become involved in this situation at all. Devi was employed on April 12 as the employer extended him an offer for the same role following the interview. Unaware of the situation, Devi’s father offered the company a sum of 150,000 pounds on June 13 in order for the business to offer Devi the employment. In this situation, the consideration given will be deemed invalid because the incident it is intended to address has already happened (Vettori, 2007).

Task 3

3.1: Explain the similarities and differences of liability in tort with contractual liability using an example.

The fact that both tort law and contract law obligation is stringent in nature is the sole commonality between the two types of liability. The assumption of responsibility for a consideration gives rise to liability under both statutes. When the performance is accepted and taken on freely by the parties, responsibility will start to accrue. When the crucial components are violated, liabilities under the two aspects become due and payable. The distinction between the two liabilities is crucial because, despite the fact that separate components were violated in each instance, the obligation that results will be of a similar character. In this situation, the party that is impacted will just need to provide evidence of the breach to establish culpability.

3.2: Explain using suitable example how liability for negligence can arise and the conditions needed to be met for ac claimant to successfully prove negligence.

Liability is the payment that must be given in respect to the injury under a specific circumstance. In certain situations, the act of carelessness that results in the avoidance of the current care-related responsibilities gives rise to negligence responsibility. There is a responsibility of care that exists against the society, and it is crucial that it be exercised generally in order to safeguard the society from it. It falls under the definition of a tort. A breach of the duty of care is required for responsibility to exist, and the damage that resulted from the breach must be directly related to the person who ignored the duty.

Task 4

4.1: Apply the elements of the tort of negligence and defenses in the given business scenarios below:

Case 7: In this instance, the patient was complaining of chest pains and breathing difficulties. The doctor recommended over-the-counter medications to the patient. After afterwards, it was discovered that the patient had died from toxic mold-induced pneumonia. The doctor was deemed to have neglected its obligations under the tort of negligence by failing to examine the patient in person. As chest pains might result in a heart attack, a doctor must ensure that these issues are not disregarded. Therefore, it is possible to claim that the doctor was negligent in this situation (Cooke, 2007).

Conclusion

If the provisions of the contract that the parties agreed upon are not carried out, there may be a breach of that agreement. A violation of the contract would result from failure to comply with any of the terms. Paying the offending party is one way to make up for the breaches. Both contract law violations and tort law violations are included in this assignment. The Unit 5 Various Elements & Laws of Contract Assignment analyses and determines the damages caused and the parties accountable for the harm. This assignment presents the possibility of a legal or contractual responsibility. The assignment explains ideas like vicarious responsibility and carelessness.