Essential Elements And Essentials Of A Valid Contract

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Group C advice WLCBMS on: a) Has a valid contract? Are the essential elements required to form a valid contract present and these elements importance when forming contract? (1.1) Straight forwardly said! It is a valid contract, but it’s an express (verbal/on phone call) contract in nature. Not all validities are satisfying according to law requirement. Obviously these all elements are must require to be fulfilling for forming a contract. Definitely essential elements are required and important to form a valid contract. Here some essentials of a valid contract: 1 Offer & Acceptance: There must be lawful offer and lawful acceptance from both parties 2 Legal Obligation: Means parties are to be bounded legally after that contract 3 Lawful Consideration: Like some benefits for other party. An agreement is enforce only when both parties get and give something 4 Capacity of Parties: Both parties must be competent to bind each other for a valid contract, like not less than from age of maturity, not unsound mind, must be related parties 5 Free Consent: Both parties must be agreed upon the same thing at the same time. For a valid contract free consent of both parties must be necessary 6 Lawful Object: Object of the contract must be legal, lawful, not based on fraud, misrepresentation 7 Writing and registration: A contract either express or implied may be oral or in writing. It is preferable that contract be in writing because it’s easy to prove in court. It is requirement of law the all particular’s of contract must be in writing, on legal paper (like stamp paper affidavit), signed and stamp from both parties, attested, and registered etc… 8 Certainty of Terms: The conditions of contract must be cleared, complete and certain. If the t... ... middle of paper ... ... punishment for Kev and set a rule and reference for some future time. Although all employees are also known the mistaken is done from Kev side and instead of that Lovely Birds Ltd bear all their medical expenses. And after that take a legal action against them so it’s a good signal to all employees toward company rules and regulations. Conclusion: Here some elements of vicarious liability. Employer obtain responsibility to take voice decisions in selection, training, development, encourage, hiring and firing etc… of that type of employees who are good behavior and not involved in ambiguous activities, Employer is liable employee act against third party. By improve above mentioned activities employee must increase the efficiency of vicarious liability and minimizing the risk involved in vicarious liability by proper training and restriction and maintain check on it.

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