ACNB
A report on Contracts
Tittle page
Prepared for: Mr. John Andre
Lecturer of Aspects of Contract and Negligence for Business
Banking Academy, Hanoi
Prepared by: Nguyen Thanh Ha (Moon)
Registration No.: F05 – 051
Class: F05-B
Submission Date: 5 November 2013
Table of Contents
A report on Contracts 1
Tittle page 1
Introduction 3
Task A (Outcomes 1.1 & 2.1) 4
Explain the importance of the essential elements required for the formation of a valid contract combined with. Apply the elements of contract in given business scenarios. 4
Task B (outcome 1.2) 7
Discuss the impact of different types of contract 7
Task C (outcomes 1.3, 2.2 & 2.3) 10
Analyze terms in contracts with reference to their meaning and effect. Apply the law on terms in different contracts. Evaluate the effect of different terms in given contracts 10
Conclusion 12
References 13
Introduction
Ken Can Cook (KCC) is a small chain of restaurants which is owned by Ken Kummings. The aim of this report is mention to:
Explain the importance of the essential elements required for the formation of a valid contract
Discuss the impact of different types of contract
Analyses terms in contracts with reference to their meaning and effect
Apply the elements of contract in given business scenarios
Apply the law on terms in different contracts
Evaluate the effect of different terms in given contracts
Task A (Outcomes 1.1 & 2.1)
Explain the importance of the essential elements required for the formation of a valid contract combined with. Apply the elements of contract in given business scenarios.
1. Invitation to treat
“An invitation to treat is an indication that someone is prepared to receive offers with the view to forming a binding contract. It is not an offer in itself.
There are four types of invitation to treat: Auction sales, Advertisements, Exhibition of goods for sale, An invitation for tenders” (BPP, pg61, 2010)
The following is an example of Advertisements:
Partridge v Crittenden 1968
“The
Tittle page
Prepared for: Mr. John Andre
Lecturer of Aspects of Contract and Negligence for Business
Banking Academy, Hanoi
Prepared by: Nguyen Thanh Ha (Moon)
Registration No.: F05 – 051
Class: F05-B
Submission Date: 5 November 2013
Table of Contents
A report on Contracts 1
Tittle page 1
Introduction 3
Task A (Outcomes 1.1 & 2.1) 4
Explain the importance of the essential elements required for the formation of a valid contract combined with. Apply the elements of contract in given business scenarios. 4
Task B (outcome 1.2) 7
Discuss the impact of different types of contract 7
Task C (outcomes 1.3, 2.2 & 2.3) 10
Analyze terms in contracts with reference to their meaning and effect. Apply the law on terms in different contracts. Evaluate the effect of different terms in given contracts 10
Conclusion 12
References 13
Introduction
Ken Can Cook (KCC) is a small chain of restaurants which is owned by Ken Kummings. The aim of this report is mention to:
Explain the importance of the essential elements required for the formation of a valid contract
Discuss the impact of different types of contract
Analyses terms in contracts with reference to their meaning and effect
Apply the elements of contract in given business scenarios
Apply the law on terms in different contracts
Evaluate the effect of different terms in given contracts
Task A (Outcomes 1.1 & 2.1)
Explain the importance of the essential elements required for the formation of a valid contract combined with. Apply the elements of contract in given business scenarios.
1. Invitation to treat
“An invitation to treat is an indication that someone is prepared to receive offers with the view to forming a binding contract. It is not an offer in itself.
There are four types of invitation to treat: Auction sales, Advertisements, Exhibition of goods for sale, An invitation for tenders” (BPP, pg61, 2010)
The following is an example of Advertisements:
Partridge v Crittenden 1968
“The
References: BPP LEARNING MEDIA. (2010). Business law course book: business essentials : supporting HNC/HND and foundation degrees. London, BPP Learning Media. Definitions.uslegal.com. n.d. Oral Contract Law & Legal Definition. [online] Available at: http://definitions.uslegal.com/o/oral-contract/ [Accessed: 1 Nov 2013]. Definitions.uslegal.com. n.d. Implied Terms in a Contract Law & Legal Definition. [online] Available at: http://definitions.uslegal.com/i/implied-terms-in-a-contract/ [Accessed: 5 Nov 2013]. E-lawresources.co.uk. n.d. Conditions, warranties and innominate terms. [online] Available at: http://www.e-lawresources.co.uk/Conditions,-warranties-and-innominate-terms.php [Accessed: 5 Nov 2013]. Irby, L. n.d. written contract. [online] Available at: http://credit.about.com/od/wz/g/writtencontract.htm [Accessed: 1 Nov 2013]. Lawteacher.net. n.d. Collateral Contracts | Contract Law | Law Teacher. [online] Available at: http://www.lawteacher.net/contract-law/collateral-contracts.php [Accessed: 1 Nov 2013]. Thelawdictionary.org. n.d. What is CAPACITY? definition of CAPACITY (Black 's Law Dictionary). [online] Available at: http://thelawdictionary.org/capacity/ [Accessed: 1 Nov 2013]. Thelawdictionary.org. n.d. What is IMPLIED AGREEMENT? definition of IMPLIED AGREEMENT (Black 's Law Dictionary). [online] Available at: http://thelawdictionary.org/implied-agreement/ [Accessed: 1 Nov 2013].