...the law of contract, with a particular emphasis on the formation and operation of business contracts. You are encouraged to explore the content of these agreements and then develop skills relating to the practical application of business contracts, including offer, acceptance, intention, consideration and capacity. As a newly appointed human resources officer for an organisation called SimoSito (a software development company), your line manager has asked you to prepare a report with supportive examples of contacts for the organisation covering different types of contracts that the organisation can use or adopt. You will produce an individual written report for this assignment. The report should be approximately 2000 words and presented in formal report style. Assessment 1: ELEMENTS OF A VALID CONTRACT IN A BUSINESS CONTEXT Assessment Period: 6 weeks Learning Outcome: LO1 Understand the essential elements of a valid contract in a business context Assessment Criteria 1.1 explain the importance of the essential elements required for the formation of a valid contract 1.2 discuss the impact of different types of contract 1.3 analyse terms in contracts with reference to their meaning and effect TASK BRIEF Task 1: This task addresses LO1- 1.1/1.2/1.3 Produce a report that can be used to explore the types of business contracts, their terms, their meaning, their effects, and their impacts on a business. Support your report with examples of such contracts. There...
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...This is me. My name is Frank. I’m 19 year old and I’m a freshman of the university of Sunderland. I’d like to tell you somethings about me. I was born and grew up in a nuclear family in Quangnam city. There are 5 members in my family: my parents, my siblings and me. My father is 53 and he is a businessman. He is intelligent, hard-working and creative. He has set a good example for us to follow. My mother is also a businessman and she is 49. She has worked so hard to support my family. My brother and my sister are also working at a company in Danang. Honestly, my mother is a person who I love the most. She is really general and understand me. She always loves and takes good care of me. I really love her and my family. I studied at primary, secondary and high school nearly my hometown. As the almost students, I experienced a lot of compulsory subject like math, chemical, physical or English. When I studied at high school, I was really good at math so I usually got a high point in this subject. Honestly, in contrast, English was not my favourite subject. I hated it a lot of. Students in Vietnam learn English since secondary school. However, they are almost taught about grammar. It is very difficult. I couldn’t heard and speak anything. But everything has changed, since I studied at University of sunderland, my English skill has improved a lot of. I’ve studied with teacher who very good at English. We’ve been talking to English every time in class. Therefore, now I can speak and...
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...main elements that are required for the formation of a valid contract in the uk?Yahoo! Answers: Business & Finance. Four Essential Elements of a Contract www.smallbusiness.wa.gov.au/four-essential-ele... Traducerea acestei pagini An agreement must contain four essential ingredients to be regarded as a contract. ... For example: A quotation by sub-contractor to the main contractor and an offer ... Usually the consideration is the payment of money but it need not be; it can ... Elements of a Contract - Legal Dictionary - The Free Dictionary legal-dictionary.thefreedictionary.com/Element... Traducerea acestei pagini The courts must enforce a valid contract as it is made, unless there are grounds ... No legal benefit or detriment to any party was required, as the seal was a symbol ... consideration (see discussion below) for the promise made by the other. ... Ratification of a contract entails the same elements as formation of a new contract. main elements constituting a vaild contract - UK Essays www.ukessays.com › Essays › Law Traducerea acestei pagini For a valid contract, the basic elements that need to exist are: .... Legality, even where all the requirements of a valid contract discussed above the present, ... Contract - Wikipedia, the free encyclopedia en.wikipedia.org/wiki/Contract Traducerea acestei pagini Contract formation ... The elements of a contract are "offer" and "acceptance" by "competent ... In common law jurisdictions such as the United Kingdom...
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...American Intercontinental University Contracts BUS 310-1101B-10 Instructor Dunn Latonya Vereeen ABSTRACT In the following paper will discuss the four essential elements of a valid contract. Also included is the objective theory of a contract and how it applies to the scenario that was given. Furthermore, an explanation will be given why the court in the scenario held that there was not a valid agreement. In further discussion explains if advertisements are considered offers. Last but not least, an explanation will be given on how the scenario case differs from a reward situation in which a unilateral contract is formed upon completion of the requested act. In order to know what a valid contract is one must know what a contract is. According to Legal Help Right Now (2008) a contract is legal binding agreement between two parties that states terms and conditions that will protect all parties of interest. A contract can be in writing, orally, inference or conduct, or a combination of all four (M R Curd Limited, 2004). Now that we are familiar with what a contract is, it is important to know what the four essential elements that forms the outline of a contract. These elements are an offer, acceptance, intention of consequences, and the consideration (Small Business, 2010).The first element of a contract is the offer. According to Smithies (2007) an offer is an expression of willingness to contract on a specific set of terms, made by the offeror with the intention that...
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... administrative law, equity etc. In business world, we use different kinds of law & law of contracts is one of the most widely used business law which is basically used to understand future business related The Aspects of Contracts & Negligence for Businessissues in more predictable manner by people engage in contracts. Contract is basically a promise that gives the official commitment that the law will be enforced.Judicial activism, which creates law to be less predictable & more flexible, & judicial restraint, which makes law more predictable & less flexible, is two important issues closely related to contracts that need to be defined properly. Task 1: P1- The essential element of valid contracts in a business context: A contract, to be valid in a business context, must have some essential elements which can be basically classified in four major categories- ð Agreement- In every contract, there must be an agreement between two parties where one party needs to make any kind of valid offer & the other party needs to accept the offer made. ð Consideration- To be valid, every contracts must have some consideration on the basis of which they engage in the contract. There must be exchange of something. The subject matter of the contract may vary from contract to contract. ð Intention to Create Legal Relationship- The subject matter & everything related to the contract must be legal & there should...
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...Essential elements of a Valid Contract by V S Rama Rao on October 3, 2008 Agreements and contracts are two different things. It is important to know first what constitutes a contract and what constitutes an agreement. We will then study which agreements are contracts, their distinction different types of agreements and contracts. Essentials Elements of a Valid Contract: Different sections of the Indian Contract Act lay down the essential elements of the contract. They are as under: 1. Proposal and acceptance 2. Consideration – lawful consideration with a lawful object 3. Capacity of parties to contract – competent parties 4. Free consent 5. An agreement must not be expressly declared to be void. 6. Writing and Registration if so required by law 7. Legal relationship 8. Certainty 9. Possibility of performance 10. Enforceable by law. Proposal and Acceptance: When one person signifies to another his willingness to do or abstain from doing anything with a view to obtaining the assent of that other to such act or abstinence he is said to make a proposal. The first step towards creating a contract is that one person shall signify or make a proposal or offer to the other, with a view to obtaining the acceptance of that another person to whom the offer is made. A proposal when accepted becomes a promise. When the person to whom the proposal is made signifies his assent thereof the proposal is said to be accepted. A proposal when accepted becomes a promise. Consideration:...
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...All contracts are agreement but all agreement are not contracts Answer; A contract is a legally binding agreement or relationship that exists between two or more parties to do or abstain from performing certain acts. A contract can also be defined as a legally binding exchange of promises between two or more parties that the law will enforce. For a contract to be formed an offer made must backed acceptance of which there must be consideration. Both parties involved must intend to create legal relation on a lawful matter which must be entered into freely and should be possible to perform. An agreement is a form of cross reference between different parties, which may be written, oral and lies upon the honor of the parties for its fulfillment rather than being in any way enforceable. All contracts are agreement because there must be mutual understanding between two parties for a contract to be formed. All parties should agree and adhere to the terms and conditions of an offer. The following cases illustrate ways in which all contracts are agreements; In the case of invitation to treat, where an invitation to treat is merely an invitation to make an offer. When a firm's offer is accepted it results into a contract provided other elements of contracts are accepted. Considering person A buying a radio on hire purchase from person B who deals with electronics and its appliances. Both parties must come to an agreement on payment of monthly installment within specified period...
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...Southville Foreign University Unit 5 Aspects of Contracts and Negligence for Business 05-01 Kashka Lantion 24 August 2013 Mr. Jay G. Masangcay Table of Contents LO1: Understand the essential elements of a valid contract in a business context. 1 I. Explain the importance of the essential elements required for the formation of a valid contract 1 II. What is required for there to be considered to have a meeting of minds between the parties to a contract? 1 III. What are the requisites for a valid object of a contract? 2 IV. The Student should be able to (i) describe (ii) give at least one example each and (iii) discuss the impact of the following contract: 3 V. In the problem given above, was there already perfected service contract between ELCO and Mr. Rupertini Salvastre? Determine if all the requisites of a valid contract are present or absent. 5 LO2: Be able to apply the elements of a contract in a business situation 5 VI. In the scenario between Mr. Salvastre and ELCO, if Mr. Salvastre failed to make his design, is there a breach of contract? If there is none, explain why. If there is a breach, explain why? 5 VII. In the scenario between Mr. Shane Macky and ELCO, in case Mr. Macky made an express warranty that his architectural design is compliant with the Philippine standards, and that the building will not collapse due to poor architectural design within two (2) years from the date of completion, but after one (1) year from its complete...
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...| |Unit Title: |Tutor’s Name: | |Aspects of Contract and |D.K Hashani shashiprabha | |Negligence for Business | | |Assignment Title & Number: |Learning Outcomes Covered: |Assessment Criteria Covered: | | |Outcome1: | | | |Understand the essential |See the following “Notes to | | |elements of a valid contract |Students” the assessment | | |in a business context |criteria covered in this | | |Outcome2: |assignment. | | |Be able to apply the elements of a contract in business | | | |situations...
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...Contracts -- INTERNATIONAL COLLEGE OF BUSINESS AND TECHNOLOGY -- 14 ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS Individual Assigment -Stephani Jayarathne- BTEC EDEXCEL HND DIPLOMA IN BUSINESS (MANAGEMENT & HUMAN RESOURCES) OFFERED BY INTERNATIONAL COLLEGE OF BUSINESS AND TECHNOLOGY ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS STEPHANIE JAYARATHNA BMK 31 ICBT KANDY CAMPUS SUBMITED TO: MRS KANCHANA LIYANAPATHIRANA 2013/07/21 Acknowledgement. It is with great pleasure I'm extending my sincere gratitude to my lecturer Mrs. Kanchana Liyanapathirana for the excellent support and guidance given to me in completing this assgiment successfully within the given period of time. I also would like to thank her for showing us some example that related to the questions of our assignment. The encouragement & cooperation given are always remarkable. Thank you! Executive Summary Table of contents Table of Contents Acknowledgement. 3 Executive Summary 4 Table of contents 5 Table of Figures 5 Task 01 6 1.1 Essential Elements of a Contractual Document. 6 1.2 Different Types of Contracts in the Business Field 9 1.3 Contractual Terms 10 Task 02. 11 2.1 Postal Rule 11 Reference 12 Table of Figures Figure 1 Employment contract document 8 Task 01 1.1 Essential Elements of a Contractual Document. A valid contract has the following elements. All of are required for a valid contract. 1. A valid offer and acceptance ...
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...MANAGEMENT DEVELOPMENT INSTITUTE OF SINGAPOR INDIVIDUAL ASSIGNMENT Identify the essential elements required for there to be a valid contract Course : Diploma in Business Administration (International Business-DBID2 1501A) Module : Introduction to Business Law Name : FIN : Lecture : M. Lukshumayeh Due date: 18th June 2015 Table of Contents: 0 Introduction.......................................................................................1 1.1 what is a contract ？...................................................................1 1.2 The difference between an agreement and a contract ................1 1.3 The elements of a valid contract..........................................2 2.1 Offer...................................................................................................2 2.1.1 The definition of an offer .......................................................2 2.1.2 Two types of offer.................................................................2 2.1.3 Rules relating to offer ..........................................................3 2.1.4 An offer distinguished from an "invitation to treat".............3 2.2 Acceptance.......................................................................................3 2.2.1 The concept of acceptance ...................................................3 2.2.2 Rules relating to the acceptance...
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... | |Date issued |Completion date |Submitted on | | | | | |Qualification |Unit number and title | |HIGHER NATIONAL DIPLOMA IN BUSINESS |5 / ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS | | | | |Assignment title |Aspects of Contract and Negligence for Business | |In this assessment you will have opportunities to provide evidence against the following criteria. | |Indicate the page numbers where the evidence can be found. | |Learning Outcome |Passing |Criteria reference...
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...Aspects of Contract Law and Negligence UNIT# 05 Table of Content | | Introduction | 3 | Loc: 01 Understanding Essential Elements Of A Valid Contract In A Business Context Task 11: Essential Elements of Business Contract 2: Three Different Types of Business Contracts and Their Advantages And Disadvantages 3: Terms in Contracts | 4-9 | Loc: 02 Application Of The Elements Of A Contract In Business Situations Task 21: Essential Elements Of Contract Leading In The Given Scenarios 2: Identification Of Valid Contracts And Discussion On The Rights And ObligationsOf The Parties In The Given Scenario 3: Identification And Evaluation Of The Terms Of Contract With ReferenceTo Contract Holder | 10-12 | Loc: 03 Understanding Principles Of Liability In Negligence In Business Context Task 31: Duty Of Care In The Tort Of Negligence. 2: Difference Between Liability In Tort And Contractual Liability. ...
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...Module Handbook Unit 5: Aspects of Contract and Negligence for Business Unit code: Y/601/0563 QCF level: 4 Credit value: 15 credits Module Tutor: Anila Mushtaq Contact Details: anila.mushtaq@yahoo.co.uk Preferred style of contact: In the first instance, if you have any queries regarding the teaching or assessment for this module, please ask question during the lecture. If you do not receive a satisfactory response then e-mail me with your query for an appointment. Introduction: The aim of this unit is to provide learners with an understanding of aspects of the law of contract and tort and the skill to apply them, particularly in business situations. Unit abstract: The unit introduces the law of contract, with a particular emphasis on the formation and operation of business contracts. Learners are encouraged to explore the content of these agreements and then develop skills relating to the practical application of business contracts, including offer, acceptance, intention, consideration and capacity. Relevant case law examples will be covered. Learners will consider when liability in contract arises, the nature of the obligations on both sides of the contract, and the availability of remedies when a contract is not fulfilled in accordance with its terms. Additionally, the unit will enable learners to understand how the law of tort differs from the law of contract and examine issues of liability in negligence...
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...to a Harrier Jet that the man alleges was promised as part of an offer through advertisement. I will discuss the objective theory of contracts, the four essential elements of a valid contract and how they correlate to the case mentioned above. I will also bring light as to why this specific case did not succeed in court and how this case was different from any other case that used the same approach to customers through advertisements. When dealing with contracts there are 4 essential elements that make a contract valid. These 4 elements would start off with an offer, then Acceptance, intention of legal consequences, and then consideration. An offer means that clear, definite statement to do something must occur. Estimates, requests for proposals and letter of intentions do not count. With an offer of course comes an acceptance. An acceptance is when the offer brought to a person whether it’s a verbal or written agreement is accepted. Acceptance of the term in its exact form can also be done verbally or written. Any other new additions must be counter offered and be agreed within both parties. There is also the Intention of legal consequences. What this means is that both parties are aware that the contract and agreement they are both agreeing on is a legally binding contract and can be enforced by law enforcement. If both parties do not want the law involved they...
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