Business Law Essay
ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS
Table of Contents P1.1 THE ESSENTIAL ELEMENTS REQUIRED FOR THE FORMATION OF A VALID CONTRACT 2 Offer 3 Acceptance 4 Consideration 4 Capacity- Concept of Minor& Privity 5 Intent to create legal relation 6 P 1.2 DIFFERENT TYPES OF CONTRACT 7 P 1.3 DIFFERENCE BETWEEN CONDITIONS AND WARRANTIES 8 P 2.1ELEMENTS OF CONTRACT APPLIED FOR THE BELOW SCENARIOS 8 P 2.2 TERMS IN DIFFERENT CONTRACTS 9 P 2.3 THE EFFECTS OF DIFFERENT TERMS IN GIVEN CONTRACT 10 P 3.1 CONTRAST LIABILITY IN TORT WITH CONTRACTUAL LIABILITY 11 P 3.2 THE NATURE OF LIABILITY IN NEGLIGENCE 12 P 3.3HOW A BUSINESS CAN BE VICARIOUSLY LIABLE 14 P 4.1 ELEMENTS OF THE TORT OF …show more content…
Offers must be communicated; it must be brought to the notice of the person who is intended to receive it. Unless the offer is communicated, there can be no acceptance and therefore no possibility of a contract. Hence, there is no agreement if a person has carried out some act specified by the offeror (the person making an offer) without knowledge of the offer. For example, a person may lose their dog and advertise a reward for its return. If the finder returns the dog without knowing of the reward, there is no contract and no duty to pay the reward.
“Invitation to treat” cannot be considered as an offer because it’s an invitation to others to come forward and make an offer. It is a person suggesting or willing to make an offer or to negotiate. Few types of invitation to treat are auction Sales, Advertisement, Exhibition of goods for sale and Tender. A shopkeeper keeping the goods for sale is not an offer, rather an invitation to treat. Shopkeeper is not obliges to sell the goods to anyone who wants to buy it. Even same goes to advertisements.
In tender process, the person who submits the