• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Aspects of Contract and Business Law. Conditions for forming a contract and relevant laws.

Extracts from this document...


Unit 21: Aspects of Contract and Business Law Pass 1 What is a contract? An agreement between two or more parties in which an offer is made and accepted, and each party benefits in some way. Some contracts must be in writing so that it can be enforced. Types of Contracts Verbal - An oral agreement made between two people. Written - contract is written up so that there is an actual copy which can reduce any possible problems which could arise. Majority of contracts are in this form e.g. a contract of employment. Standard form Businesses usually use a standard contract that states the terms and conditions of an agreement which are non-negotiable. This is common practise as a business would find it extremely inconvenient if not impossible to create contracts specifically for each individual customer. Requirements of a valid contract Offer - an expression of willingness to accept a specific set of terms, made by the offeror with the intention to enter into and be obliged to follow the terms of the contract. ...read more.


* When a document has been mistakenly signed in error. Types of Misrepresentation Fraudulent misrepresentation was defined by Lord Herschell in Denny v Peak (1889) as a false statement "made (i) knowingly, or (ii) without belief in its truth, or (iii) recklessly, careless as to whether it be true or false", that is to say there is absence of honest belief. - http://www.gillhams.com/articles/401.cfm Negligent misrepresentation is when the defendant makes a careless makes a representation while having no basis whether to believe it to be true Innocent - where one party makes a statement which he believes is true, there will be no misrepresentation and the statement will be considered innocent. Duress - is forcing someone against their will to enter into a contract (this could either be through physical or other means). A contract made under duress cannot be enforced, for example, being forced into a legal contract at gunpoint. Undue influence is where one person who is in a higher position, takes advantage of their power and exerts pressure on another person to coerce them into a legal contract. ...read more.


http://en.wikipedia.org/wiki/Electronic_Commerce_Regulations_2002 The consumer Protection (distance selling) regulations 2000 (as amended) The purpose of the Directive is to increase consumer confidence and so strengthen the single European market by providing an agreed minimum level of consumer protection throughout the EC. This regulation gives consumers a cooling-off period so that the customer can have a chance to examine the service or product being offered in the same way they could when in a shop. The regulation gives the consumer the right to cancel however, the consumer also has the responsibility of keeping the product in good condition before returning it. http://tutor2u.net/ebusiness/ebusiness-law-distance-selling-regulations.html Unfair Terms in Consumer Contract Regulations 1999 The Unfair Terms in Consumer Contracts Regulations 1999 protect consumers from unfair standard terms in contracts. If the term is considered to be unfair, then it is no longer legally binding on the consumer. The Office of Fair Trading along with certain other bodies can take legal action to prevent the use of such terms. The UTCCRs can protect consumers from terms that reduce their statutory or common law rights and from terms that seek to impose unfair burdens on the consumer over and above the obligations of ordinary rules of law. http://www.oft.gov.uk/advice_and_resources/resource_base/legal/unfair-terms/ ?? ?? ?? ?? ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Law of Contract section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Law of Contract essays

  1. Marked by a teacher

    "The requirement of consideration is an unnecessary complication in the formation of contracts."

    4 star(s)

    cause of action as well as in the case of Pascoe v Turner [1987]. It should be noted that the case of Jordan v Money [1854] established that the representation must be of a fact. The common law estoppels operate upon representation or promises of existing fact while equitable estoppels

  2. Marked by a teacher

    Contract Law - Offer And Acceptance

    3 star(s)

    It was not afterwards competent for the plaintiff to revive the proposal of the defendant, by tendering an acceptance of it; and that, therefore, there existed no obligation of any sort between the parties. * And it is different from asking mere information.

  1. Marked by a teacher

    Billy Joel Business Ethics and Law Case Study. In the above case ...

    3 star(s)

    The recommended $ 39,000 difference that Bernard is seeking from Billy Joel with regards to the agreed price would be based on the fact that the individual who facilitated the initial processes of the contract was not an authority. The Collection of the Extra Money: The initial prices that had

  2. Marked by a teacher

    In this Assignment I am going to describe the requirements of a valid contract ...

    3 star(s)

    Unfortunately for the tailor, however, it was further decided that they were not necessary, as he already had sufficient clothing. Minors are only under a legal obligation to pay for things necessary for their maintenance although even then they will only be required to pay a reasonable price for any

  1. Void and voidable Contracts.

    As can be seen clearly by the above case there is defiantly a breach of warranty by the oil company, and therefore it gives Dan every right to sue for negligent misrepresentation. 5. In this case Omar has worked for several years for a firm of architects who operate within the West Midlands area.

  2. Free essay

    Outline how consumers are protected in contracts for the sale of goods, identifying relevant ...

    Implied Terms for the Supply of Goods and Services, Work and Material Work must be carried out using materials of a satisfactory standard and the service should be carried out that service with reasonable care and skill and within a reasonable timescale unless there is agreement for a specific time.


    (c) Terms implied in fact. Terms may be implied because the very nature of the contract requires it or because the application of an objective test makes it apparent that the parties must have intended it. It may be that its omission was a simple mistake or that both parties thought

  2. Aspects of Contract and Business Law Case Studies

    The terms should be specific and certain. In the contract above an offer of £325,000 was made by “Temuulen” industrial to Amersham & Wycombe limited, in return for their promise to act by supplied the demanded products. The terms of the contract are clear, it states what is being bought and at what price.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work