Business Essay

7291 words - 30 pages

Table of content:
1.1 Explain the importance of the elements required for the information of a valid contract in the motor industry…………………………………………………………………………….3
1.2 Discuss the impact of different types of contract by providing explanations on comparison with local, export and distance buying modes………………………………………………..7
1.3 Analyze terms in contracts with reference to their meaning and effect in the motor industry………………………………………………………………………………………10
2.1 Apply the elements of contract in both cases business scenarios………………………..12
2.2 & 2.3 Analyze the law of terms in the above two different contract. Evaluate the effect of different ...view middle of the document...

The civil exchanges are usually formed through an agreement between the parties, on the basis that the law required the parties to exercise their right and obligation. The agreement is called a contract. And in order to make a legal contract, there must be three important factors namely Agreement, Consideration and Legal intention.
* Agreement: Contract agreement has traditionally been based on the analysis of the terms of the offer and acceptance. One party, the offeror will create an offer which is accepted by another party which is also known as the offeree who will create a binding contract. Important knowledge which needs to understand relates to offer and acceptance including the different between offer and a invitation to treat
* Offer: “An offer is a definite promise to the bound on specific terms”(chapter 4, introduction to the law of contract). To be more specific: promise is tied to a specific condition, frequently trading exchange. A party needs to sell a product, other people want to buy that product. A seller is responsible for providing product information for buyers. After collecting the necessary information, the exchange is taken place as given offer.
* For example: case Carlill v Carbalic Smoke Ball Co 1893. Fact: In this case, the defendant has posted an advertise on newspaper that Carbalic Smoke Ball Company will pay £ 100 for anyone who contracts the influenza after using the smoke ball 3 times each day during the period of 2 weeks. £ 1000 will be deposited into the bank to prove the sincerity and seriousness of this advertisement. Mrs. Carlill also is the Claimant saw this advertise and bought the smoke ball¸ after using, the results that she has the flu. Carlill sued for compensation as they say £ 100. The fact is the defendant argued that the offer is not formed by a basic contract because it has not had specific time limits, using vague wording in the advertise, not worth the whole world. Decision: Court decided that she won and the Carbalic Smike Ball company lost because one of the following reasons: 1st companies mentioned deposit of £ 1000 showed clear intent and not merely invited advertising, can fully perform with the world, therefore, in the case of a unilateral contract if the offeree accepts basic information,  contract will be established. 2nd company will issue goals and clear time when using the smoke ball. 3rd is the usage instructions printed on each of the smoke ball. With my opinion: this is unilateral contract, hence when the offer of the company has been informed the public this means that the advertising is accepted to form a contract. Mrs. Carlill won, which is totally reasonable.
* Acceptance: “Acceptance is the unqualified agreement to the terms of the offer” (chapter 4, introduction to the law of contract. Assuming the presence of the consideration and the intention of the parties which have sufficient capacity to sign a contract to participate in the legal system, from which a...

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