This is a solution of Contract and Negligence Business Assignment part 2 in which we discuss the primary and basis areas of the contract that should be known by businessmen.

Contract and Negligence Business Assignment part 2

Task 2: Be able to apply the elements of a contract in business situations

1 Apply the elements of contract in given business scenarios

In the given situation the advertisement so posted by the East End Airways in the trade journal for the second hand Airbus 320 is that of an invitation to offer. The price so quoted to be 12.5 million pounds is a price that may be negotiated once the offer has been made. When the Chief Executive Officer of West Aviation Ltd. Expresses his intention to the EEA’s Managing Director for the purchase of the same airbus. However, he also expressed his unavailability for the next five days as he is visiting New York for a business matter. To this, William specified that in the meantime if another buyer comes along then the same would be sold to that buyer. Furthermore, Harry offered to pay 100,000 Pounds if the same is not sold for the next five days. William thereby agrees to the offer. It is noted that the offer to not sell the air bus for the next five days was made. The agreement so formed is considered to be a valid contract as the offer was made by Harry that was accepted by William. The same was done a consideration and between the legally capacitate parties. Therefore, the agreements so formed in the situation comprised of express terms such as not selling the airbus for the next five days. Thereby the contract so formed would lapse after five days. The implied term is that William would maintain the airbus for the next five days and that the claim may be made if the same is breached by William. It is thereby said that the contract so formed is valid contract according to the elements of the contract. [Cooke (2007)]

2 Apply the law on terms in different contracts

The present case illustrates that the Mr. Peters had entered into an agreement with the cycle shop for the repairs of the bicycle that is to be used by him in the cycle race. The same was entered into on basis of the specific terms so agreed to. The repair of the bicycle was a condition to the contract as well acceptance of the goods subject to the terms and conditions. The implied term was that the equipments so used in the repair would be of standard quality. The express terms as well as the warranty was that care would be taken of the bicycles all brought in for the repair? The exclusion term that may be referred to as the essential part is that the care would be taken but the responsibility for the goods would not be taken that are left for the repairs. However, the sign illustrating the terms was put behind the counter and hidden by the bicycle so hung. Mr. Peters was not able to read the same. As the owner of the shop it is required to make the stament expressly clear and noticeable in order to enforce it. As Mr. Peters went to collect the bicycle the same was not repaired and misplaced as it was put into storage along with the wrong tag. This results in a breach of a law contract. As the condition to repair was not met and the exclusion clause was not clear the contract can be voided at the end of Mr. Peters and damages may be claimed for the loss so suffered. [Vettori (2007)]

3 Evaluate the effect of different terms in given contracts

The present scenario had a contract that refers to the purchase of 30 cars being made by The Best Cars Ltd from Car World if the same were ready to be used on the roads. In the case whereby the cars so supplied are illegal and no amount of modifications would make a difference would make the term of being immediately able to use the cars would be a condition as the cars cannot be driven unless they are legal. Whereby the repairs are needed to the performed with respect to the engines, the term would be regarded as a warranty as the repair would only amount to a minor delay. Whereby the repairs needed would require a storage time of 3 months, the term in question would be regarded as an innominate term only to be considered condition or warranty if the same is not complied with. [Collins (2008)]

Task 3: Understand principles of liability in negligence in business activities

1 Contrast liability in tort with contractual liability

For a person to be liable without any cause is referred to as a case of strict liability. To analyse the different strict liabilities the areas of law to be considered are that of business Law, Law of Contracts and Law of Tort. Whereby the damaging party has to pay for damages without having to be proven guilty is known to be strict liability. It arises from an pre-existent duty and hence is strict in nature. The difference in the types of liability in law of contracts and law of tort is as follows:The consent of the parties is relevant under the law of contract, the same is not the case in the law of tort. The damages under the law of contract may be quantified but the same may not be quantified under the law of tort. The factors considered under the law of contract are that of offer, acceptance, consideration and privity wherein the factors considered under the law of tort are that of remoteness of damage and causation. [Cooke (2007)]. The parties are required to be of capacity under the contracts wherein the same is not the case with law of tort. The motive of breach is not considered under the law of contracts whereas it is considered under the law of tort.The right breached under law of contracts is that of right in personam and right in rem with the law of tort. [Giliker (2010)]

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