Aspects of Contract and Negligence for Business

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1.1 Explain essential elements of valid contract according to contract law.

1.2 Explain different types of contracts and explain their impact. Any special rules need to be considered.

1.3 Explain terms of contract, their meaning, effects .

Task 02
Two years ago Alan separated from his wife Cath. As part of a written agreement between them, Alan agreed to pay Cath $1000 per month in order to maintain her and their daughter dawn. The money also had to be used to pay off the mortgage on the house that Alan and Cath jointly owned. Alan promised that when the mortgage was paid off he would transfer his share of the property to Cath. Now however, although the mortgage has been paid off, Alan refuses to transfer his title in the house to cath.

2.1 apply the elements of contract in the scenario of Alan and Cath.

Case Study
A ship was chartered to the defendants for a 2 year period. The agreement included a term that the ship would be seaworthy throughout the period of hire. The problems developed with the engine of the ship and the engine crew was incompetent. Consequently the ship was out of service for a 5 week period and then a further 15 week period. The defendants treated this as a breach of condition and ended the contract. The claimants brought an action for wrongful repudiation arguing the term relating to seaworthiness was not a condition of the contract.

2.2 identify the terms included in the contract and evaluate the effect of different terms relating to the…...

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