ASPECT OF CONMTRACT

Topics: Contract, Contract law, Tort Pages: 12 (4065 words) Published: April 16, 2014
ASPECTS OF CONTRACTS AND NEGLIGENCE FOR BUSINESS
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MODULE CODE: Y/601/0563

LECTURER: MR. DALTON VINCENT

STUDENT: HNDB 5366
CONSTANTIN VALENTIN IONESCU

CONTENT:

LO1. Understanding the essential elements of a valid contract in a business context…3 P1.1. Explain the importance of the essential elements required for the formation of a valid contract……………………………………………………………………………………….3 P1.2. Discuss the impact of different types of contract………………………………………3 P1.3. Analyse terms in contract with reference to their meaning and effect …………………4 LO2. Be able to apply the elements of a contract in business situations………………….5 P2.1. Apply the elements of contract in a given business scenarios…………………………..5 P2.2. Apply the law on terms in different contracts…………………………………………..6 P2.3. Evaluate the effect of different terms in given contracts……………………………….7 LO3. Understand principles of liability in negligence in business activities……………..8 P3.1. Contrast liability in tort with contractual liability………………………………………8 P3.2. Explain the nature of liability in negligence……………………………………………8 P3.3. Explain how a business can be vicariously liable………………………………………9 LO4. Be able to apply principles of liability in negligence in business situations………10 P4.1. Apply the elements of the tort of negligence and defences in different business situations……………………………………………………………………………………..10 P4.2. Apply the elements of vicarious liability in given business situations………………..10 References……………………….…………………………………………………......……11 Table of Statutes ..........................................................................................…......................11 Table of Cases ..........................................................................................................…..........11

LO1. Understanding the essential elements of a valid contract in a business context P1.1. Explain the importance of the essential elements required for the formation of a valid contract There are several important elements in order to form a valid contract. 1 Offer and Acceptance.- In order to create a valid contract , there must be a 'lawfull offer ' by one party and 'lawfull acceptance' of the same by the other party 2 Intention to Create Legal Relationship- In case,there is not such intetion on the part of partyes, there is not contract. Agreements of social and domestic nature do not contemplate legal relations .Case ; Balfour vs Balfour (1919) 3 Lowfull Consideration. Consideration has been defined in various ways Acourding to Blackstone '' Consideration is recompense given by the party contracting to another '' in other words of Pollock'' Consideration is the price for wich the promise of the another is brought ''…....consideration is known as quid pro-quo or something in return 4 Capacity of Parties ;The parties to an agreement must be competent to contract. If either of the parties does not have the capacity to contract , the contract is not valid Accourding the following persons are incopetent to contract ; a -miners, b-persons of unsound mind c-person disqualifield by low to wich they ar subject

5 Lawfull Object.; The object of an agreement must be valid . Object has nothing to do with consideration it means to purpoase or design of the contract. This when one hires a house for use of a gambling house , the object of the contract is to run a gambling house 6 Legal formailities ; An oral Contract is a perfectly valid contract espect in those cases where writing registration etc,is required by some statute, in India writing is required in cases of sale, mortgage lease and gift on immovable propriety, negociable instrument etc 7 Certainity of Meaning; Acourding to Section 29; Agreement the meaning of wich is not Certain or capable of being made certain are avoid 8 Posibility of...


References: 6. Working Time Regulation (SI 1998/1833).
2. Carlil v Carbolic Smoke Ball Co (1983);
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4. Dikinson v Dodds (1876);
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6. Foley v Classique Ltd (1934);
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8. Harris v Nickerson (1873);
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10. Hillas & Co Ltd v Arcos Ltd (1932));
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12. Junior Brooks Ltd v Veitcho Co Ltd (1982);
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14. Mountford v Scott (1975);
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16. Payne v Cave (1789);
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18. Pitts v Jones (2007);
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20. Rose and Frank v Crompton (J R) & Brothers Ltd (1923);
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22. Scammell v Quston (1941);
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24. The Moorcock (1889).
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