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10 Pages • Essays / Projects • Year Uploaded: 2021
Assignment Question: A contract is a voluntary arrangement between two or more parties that is enforceable at law. It is a legally-binding agreement that obligates two or more parties to complete certain tasks. It creates right s and obligations to parties of the contract. The formation of a contract generally requires an offer, acceptance, consideration, certainty, capacity and free consent. In the modern age of legal development, contract law has significance in every business activities in the society. It is an inevitable subject-matter of business or corporate law. The content as well as the direction of the assignment should remain within the following guides: • Critically analyse the elements of contract in their respective significance in making a contract valid. • Discuss in particular, the distinction between a term and a representation. The focus of the discussion has to be placed on the importance to distinguish between a term and a representation in the light of the consequential legal liability that follows. • Your opinion on the future direction of reform for terms of contract (whether it's necessary for any reform to take place). Please provide your opinion on both Yes or No answer.
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