My Grandmother
TASK 1- ASPECTS OF CONTRACT AND BUSINESS AND BUSINESS LAW (P1, P2, and M1)
P1
As a trainee Solicitor at Greedies LLP, I will be going through the legal criteria for offer and acceptance in this scenario, the law in relation to the formation of a contract as well as to analyse the impacts and requirements for a valid contract.
Contract- is an agreement entered into voluntarily between two or more parties with the intention of creating legal relations. A contract can be oral or in writing, however the most common forms of contract is the written form. Verbal forms of contracts exist where two parties agree through spoken words. This is often done between friends or people who know each other well to agree to be bound legally on a spoken word or a handshake. Written contacts are mainly common in the business world. Contracts are of great importance to businesses because it gives these businesses stability, and some assurance of future income. This allows these businesses to continue development and improvement of the product and the services that they offer, this doesn’t only benefit the company but also the customers. The key elements of a contract are offer, followed by an acceptance, together with consideration and capacity.
Offer- is an expression of willingness to contract on specified terms, made with the intention that is to become binding as soon as it is accepted by the person to whom it is addressed. The party who makes an offer is known as the offeror and the party to whom the offer is addressed is known as the oferee. An offer is mainly communicated to the other party usually in writing. Originally the courts would determine whether or not an agreement had been reached between the parties by determining whether there had been a meeting of the minds.
Acceptance- is a final and unqualified expression of assent to the terms of an offer. There are also 3 types of acceptance, there are three kinds of acceptance, there is the express, conditional and
P1
As a trainee Solicitor at Greedies LLP, I will be going through the legal criteria for offer and acceptance in this scenario, the law in relation to the formation of a contract as well as to analyse the impacts and requirements for a valid contract.
Contract- is an agreement entered into voluntarily between two or more parties with the intention of creating legal relations. A contract can be oral or in writing, however the most common forms of contract is the written form. Verbal forms of contracts exist where two parties agree through spoken words. This is often done between friends or people who know each other well to agree to be bound legally on a spoken word or a handshake. Written contacts are mainly common in the business world. Contracts are of great importance to businesses because it gives these businesses stability, and some assurance of future income. This allows these businesses to continue development and improvement of the product and the services that they offer, this doesn’t only benefit the company but also the customers. The key elements of a contract are offer, followed by an acceptance, together with consideration and capacity.
Offer- is an expression of willingness to contract on specified terms, made with the intention that is to become binding as soon as it is accepted by the person to whom it is addressed. The party who makes an offer is known as the offeror and the party to whom the offer is addressed is known as the oferee. An offer is mainly communicated to the other party usually in writing. Originally the courts would determine whether or not an agreement had been reached between the parties by determining whether there had been a meeting of the minds.
Acceptance- is a final and unqualified expression of assent to the terms of an offer. There are also 3 types of acceptance, there are three kinds of acceptance, there is the express, conditional and