Business Agreement and Requirement to Form a Valid Contract:
Table of content
Introduction 5 Content 6 Task 1: 6 1. Business agreement: 6 2. Requirement to form a valid contract: 9 Claim 1: 13 Claim 2: 15 Claim 3: 19 Task 2: Explain the differences among conditions, warranties and innominate terms with examples to illustrate: 22 Task 3: Law on standard form contracts: 24 Claim 4: 29 Conclusion 32 Reference 32
Introduction
The knowledge of the law of contract is very importance when doing business. Law of contract is a part of Common law which focus on the formation and operation of a business contract.
This report will analyze different types of business agreement and the requirement of a valid contract. In addition, it explain the differences between condition, warranties and innominate term of a contract.
Content
Task 1
1. Business agreement:
Business agreement is a agreement made between two parties which intend to have an exchange of goods or services that are value and make it into a business contract. Business agreement is the first essential element of a business contract which is legally binding.
There are various types of business agreement. It can be classified by the purposes, the forms or the obligation binding of the agreement.
1.1 Consumer contract and non-consumer contract:
Firstly, based on the purpose of the contract, we can divided business agreement into two group which are consumer contract and non-consumer contract,.
The consumer contract is an agreement to supply goods or services between the provinders and the consumers in which the consumers purchase goods or services for their own needs only and do not intend to make profit from it. A contract which will be considere as the consumer contract if it meets all three conditions following: * The buyers purchase goods or services for their personal, domestic or household use or consumption. For example, the buyer purchases coffee to drink at home. It will be considered the consumer contract. However,
Introduction 5 Content 6 Task 1: 6 1. Business agreement: 6 2. Requirement to form a valid contract: 9 Claim 1: 13 Claim 2: 15 Claim 3: 19 Task 2: Explain the differences among conditions, warranties and innominate terms with examples to illustrate: 22 Task 3: Law on standard form contracts: 24 Claim 4: 29 Conclusion 32 Reference 32
Introduction
The knowledge of the law of contract is very importance when doing business. Law of contract is a part of Common law which focus on the formation and operation of a business contract.
This report will analyze different types of business agreement and the requirement of a valid contract. In addition, it explain the differences between condition, warranties and innominate term of a contract.
Content
Task 1
1. Business agreement:
Business agreement is a agreement made between two parties which intend to have an exchange of goods or services that are value and make it into a business contract. Business agreement is the first essential element of a business contract which is legally binding.
There are various types of business agreement. It can be classified by the purposes, the forms or the obligation binding of the agreement.
1.1 Consumer contract and non-consumer contract:
Firstly, based on the purpose of the contract, we can divided business agreement into two group which are consumer contract and non-consumer contract,.
The consumer contract is an agreement to supply goods or services between the provinders and the consumers in which the consumers purchase goods or services for their own needs only and do not intend to make profit from it. A contract which will be considere as the consumer contract if it meets all three conditions following: * The buyers purchase goods or services for their personal, domestic or household use or consumption. For example, the buyer purchases coffee to drink at home. It will be considered the consumer contract. However,