Contractual Aspects and Business Negligence Coursework

Contractual Aspects and Business Negligence - Coursework Example The researcher states that acceptance of an offer must be made exactly as offered and no conditions can be added to the offer. Introduction of new terms to the offer results to a counter offer and such a counteroffer terminated the initial offer. Acceptance can be given verbally, in writing or impliedly. For an acceptance to be valid, it must comply with the method prescribed by the offer. The parties entering into the contract must also have an intention to create legal relations. This implies that the parties to the contract intend the contract to be enforceable by law. The last element of a valid contract is a valid consideration. Consideration in this regard is a party promise to do something in exchange for the other parties promise to provide a valuable benefit. There are different types of contracts undergone in business and these include verbal contracts, written contracts, and distance selling contracts. Verbal contracts are contracts undertaken without any written agreement s and rely on the good faith of the involved parties. These contracts can be difficult to prove compared to written contracts. Written contracts, on the other hand, are contracts that are written and signed by the contracting parties. All the terms of the contract are often included in the written documents. The other type of contracts is distance-selling contracts, which are contracts entered at a distance from the supplier and are associated with online shopping. Distance selling contracts are enforceable provided they meet the requirements of a valid contract. These contracts are regulated by the distance selling regulations, which protect consumer rights when purchasing products online. The contents of a contract are referred to as terms of a contract. A contract will usually contain various terms, which can be either implied or express.