ACNB assignment

Topics: Contract, Contractual term, Contract law Pages: 31 (10522 words) Published: February 10, 2015
Aspects of contract and negligence in business

YOSHUA CASTAÑEDA GALLEGOS
STUDENT ID: A4058935

TUTOR: Vincent Adon
Edexcel Assessment Brief Front Sheet

Assessor Name: Vincent Adon, Anthony Owusu, Rahki Rashmi
Internal Verifier Name: Sherylann Ramsaran
Date Issued: 02/02/2014
Hand in Date: 09/11/2014 before 11:59 pm
Qualification:

BTEC Higher National Diploma in Business

Unit Title: Aspects of Contract and Negligence for Business

Rules and regulations:
Plagiarism is presenting somebody else’s work as your own. It includes: copying information directly from the Web or books without referencing the material; submitting joint coursework as an individual effort; copying another student’s coursework; stealing coursework from another student and submitting it as your own work. Suspected plagiarism will be investigated and if found to have occurred will be dealt with according to the procedures set down by LSBF. Please see your student handbook for further details of what is / isn’t plagiarism.

Student signature………………………… Date: 14th of November 2 Table of contents

TASK 1 Elements of a contract …………………………………………. P4-17

Q1. Importance of elements …………………………………… P4-10

Q2. Standard form of business………………………………….P10-13

Q3. Types of contracts and their liabilities…………………….. P14-15

Q4. Conditions, warranty and innominate terms………………P15-17

TASK 2 Liability and Negilgence…............................................................ p.17-27

Q1. Liability under contract & under Tort………………………..P.17-19

Q2. Nature of liability in negligence………………………………P.19-24

Q3. Vicarious liability………………………………………………P.24-27

REFERENCES: Books & Websites…………………………………………P.28

Case law’s………………………………………………………………….P.28-29

Task 1 Elements of contract

Q1. Using appropriate case la identify whether all the essential elements of a contract are in place between PRIMARK DIRECT and PRESEC Pacesetters and explain the importance of the elements.

Introduction:

A contract is an agreement creating obligations enforceable by law.  The basic elements of a contract are mutual assent consideration, capacity and legality. In some states, the element of consideration can be satisfied by a valid substitute.  Possible remedies. Breach of contract includes general damages; consequential damages reliance damage and specific performance. (Poole, 2014, p15)

In other words Contracts are promises that the law will enforce. The law provides remedies if a promise is breached or recognizes the performance of a promise as a duty. Contracts arise when a duty does or may come into existence, because of a promise made by one of the parties. To be legally binding as a contract, a promise must be exchanged for adequate consideration. Adequate consideration is a benefit or detriment, which a party receives which reasonably and fairly induces them to make the promise/contract. For example, promises that are purely gifts are not considered enforceable because the personal satisfaction the grantor of the promise may receive from the act of giving is normally not considered adequate consideration. Certain promises that are not considered contracts may, in limited circumstances, be enforced if one party has relied to his detriment on the assurances of the other party.

Offer
An offer is a conditional promise submitted by an offeror(buyer or seller) to another offeree, which is the one who accepts the offer and after accepting the offer becomes legally enforceable(Poole, 2014, p28). An offer its also know as a proposition made by one party to another on terms that are fixed or capable of being fixed with the intention that it will be binding that party when accepted by the other party or individual. An example of offer it’s a car agency retailer will offer a car saying a BMW, for 30,000 pounds meaning that the car will be sold for the amount mentioned above in case the individual...

References: 2. frederick pollock (1950). principles of contract law. 13th ed. london: stevens&sons. p.133.
3. Gerrit De Geest (2011). Contract Law and economics. 2nd ed. United Kingdom: Edward Elgar Publishing limited. P.115-125
4
5. jill poole (2014). text book on contract law. 12th ed. oxford: jill poole . p15-146
6
7. sarah richies, vida allen (2013). Kennan & Richies business law . 11th ed. oxford: pearson. 339-342.
8. Steven J. Burton (2010). Contract Law and economics. 3rd ed. Netherlands: Kluwer Law international. P.157-159
9
2. Bettini v Gye (1876) QBD 183
3
4. Butler Machine Tools v Ex-Cell-O Corp (1979) 1 WLR 401
5
8. Hong Kong Fir Shipping vs. Kawasaki Kisen Kaisha (1962)
9
14. Ruddiman & Co. v Smith (1889) 60 LT 708
15
16. Smith v Crossley Bros (1951) 95 SJ 655
17
18. Tekdata Interconnections Ltd v Amphenol Ltd  [2010] 1 Lloyd 's Rep 357)
19.Tweddle v Atkinson (1861) 1 B&S 393
20.White v Bluett (1853) 23 LJ Ex 36
21.Williams v Carwardine (1833) 4 B & Ad
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