P4 P5 Contractual terms in a standard form contract 2014
Contractual terms in a standard form contract and the impact of statutes on these terms
P4: Describe the meaning of terms.
P5:Explain the effect of terms.
Task
Using the Vodafone contract prepare a briefing sheet describing how statutes affect contractual terms.
You should include the following:
A description of express terms
A description of implied terms
Identify and describe the statutes and regulations affecting contractual terms
(Remember to illustrate your answer with examples of cases) and make reference to your Vodafone contact for examples
Terms of standard form contracts As businesses have become more powerful with stronger bargaining positions,
Parliament has passed more laws that have had an impact on business contracts e.g. for the protection of the consumer
Parties are generally free to make their own bargain in the course of business
Contract terms should be fair and reasonable Terms may impact on how the contract is carried out e.g. Ownership of title
Terms implied by common law Courts make decisions that are followed later on when other cases come to court.
Common law is case law -
Case law is the body of available writings explaining the verdicts in a case. It is most often created by judges in their rulings, when they write their decisions and give the reasoning behind them, as well as citing precedents in other cases and statutes that had a bearing on their decision.
The courts make sure that they are working towards ‘business fairness’
General Terms of a standard form contract (examples)
Delivery dates – courts can imply a reasonable time if dates not mentioned in contract (discuss)
Price variation – allowance for inflation, fuel costs and exchange rates (discuss)
Payment terms (discuss)
Quality and quantity – goods to match what has been agreed (discuss)
Reservation of title – ownership stays with the seller until goods fully paid for (discuss)
Time for performance and rejection of goods
Agreement
P4: Describe the meaning of terms.
P5:Explain the effect of terms.
Task
Using the Vodafone contract prepare a briefing sheet describing how statutes affect contractual terms.
You should include the following:
A description of express terms
A description of implied terms
Identify and describe the statutes and regulations affecting contractual terms
(Remember to illustrate your answer with examples of cases) and make reference to your Vodafone contact for examples
Terms of standard form contracts As businesses have become more powerful with stronger bargaining positions,
Parliament has passed more laws that have had an impact on business contracts e.g. for the protection of the consumer
Parties are generally free to make their own bargain in the course of business
Contract terms should be fair and reasonable Terms may impact on how the contract is carried out e.g. Ownership of title
Terms implied by common law Courts make decisions that are followed later on when other cases come to court.
Common law is case law -
Case law is the body of available writings explaining the verdicts in a case. It is most often created by judges in their rulings, when they write their decisions and give the reasoning behind them, as well as citing precedents in other cases and statutes that had a bearing on their decision.
The courts make sure that they are working towards ‘business fairness’
General Terms of a standard form contract (examples)
Delivery dates – courts can imply a reasonable time if dates not mentioned in contract (discuss)
Price variation – allowance for inflation, fuel costs and exchange rates (discuss)
Payment terms (discuss)
Quality and quantity – goods to match what has been agreed (discuss)
Reservation of title – ownership stays with the seller until goods fully paid for (discuss)
Time for performance and rejection of goods
Agreement