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Business Law Contracts

In: Business and Management

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LAW CASE STUDY (Topic-2)
"The core idea of negligence is that people should exercise reasonable care when they act by taking account of the potential harm that they might foreseeably cause harm to other people.”[1]

INTRODUCTION:

In this particular case are there many contractual terms that are used. So, to solve this case or before giving any judgement, we need to define these terms and gain sufficient knowledge about them. The first and the most important thing we need to know is: What is a contract? A contract is an agreement which is enforceable by the court of law. For a legal contract there has to be an offer and its acceptance. “Acceptance occurs when the party answering the offer agrees to the offer by way of a statement or an act. Acceptance must be unequivocal and communicated to the offer or the law will not deem a person to have accepted an offer merely because they have not expressly rejected it. Some modifications to the rules of offer and acceptance have been made to protect consumers by sections 18 and 41 of the Competition and Consumer Act 2010 (Cth) schedule 2 Australian Consumer Law (“ACL”) for example, invitations or offers to purchase cannot be misleading or deceptive.[2] Thus acceptance is a very important concept of contracts. Generally a valid contract has acceptance. The different types of contracts are: Formal Contracts and Simple Contracts. “A simple contract can be totally written, partly written and partly “oral” (verbal), or totally oral.”[2] But in this case a standard form of contract prevails between the two parties. A standard form of a contract is defined as: A standard form contract (sometimes referred to as an adhesion or boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more…...

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