Business Law

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A REPORT ON ASPECTS OF CONTRACT AND NEGLIGENCE FOR EZ KOOKING -------------------------------------------------

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TITLE PAGE
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Prepared for:
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Mr John M. Andre (Lecturer)
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Unit 5: Aspects of Contract and Negligence for Business
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Banking Academy, Hanoi
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Submission Date: 19th November 2012
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No of words: 3100 words
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Prepared by:
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Phạm Ngọc Minh Châu – Candy (F04-027)
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Class: F04A
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Table of Contents
Introduction3
Body3
TASK I: TYPES OF CONTRACT3
I.1 Written contracts3
I.2 Oral contracts4
I.3 Implied contracts4
TASK II: ELEMENTS OF CONTRACT6
II.1 Agreement6
II.2 Consideration10
II.3 Intention to create a legal relationship10
II.4 Capacity11
TASK III: TERMS IN CONTRACT13
III.1 Condition and Warranty13
III.2 Innominate terms14
III.3 Implied clause15
Conclusion16
References17
Appendix18

Introduction
This report is about aspects of Contract and Negligence for Business, but in this report, it only focuses on the aspects of contract. Through this report, the learners can show how understand the theories which relate to all about contract and the way to apply the theories to solve the case in scenario. Body

TASK I: TYPES OF CONTRACT
(It includes outcome 1.2)
“A contract may be defined as an agreement which legally binds the parties” (BPP Learning Media, 2010). To avoid tricking money and misunderstand “what does that mean?” or ensure all parties have the same understand, so the contract must be clear and specific.

There are 3 types of contract: written contracts, oral contracts, distance selling and implied contracts. I.1 Written contracts
Most of contract is written contract, it means that the contract by deed and it has the signature of both parties to show they agree with contract. In other words, it is the contract of guarantee and the evidence in writing to ensure both parties perform the contract seriously. Moreover, it is a basic that can help the judge to decide who right or wrong when one of both parties breaks the contract. According to BPP,(2010), there are some contracts must be in writing such as a transfer of shares, interest in land, bills of exchange and cheques and consumer credit. In the scenario, it can be seen clearly that Max Jones – the owner of EZ Kooking “is used to having written contracts when customers come into his store…” Written contract help Max Jones know clearly his rights and duties while his customer can feel more believe because written contract represents a promise from EZ Kooking that they can get. I.2 Oral contracts

Oral contract is the...
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