ASPECT OF CONTRACT AND NEGLIGENCE Assignment Example | Topics and Well Written Essays - 750 words

ASPECT OF CONTRACT AND NEGLIGENCE - Assignment Example The breach of these essential elements of a contract makes the contract void. The essentials of a valid contract include  "offer and acceptance, Intention to create a legal relationship, lawful consideration, capacity of parties, free consent, the lawful object, certainty of meaning, possibility of performance, not declared to be void or illegal and legal formalities". In the given case, the elements are same, and breach of these essential elements of a valid contract makes the contract void (Collins, 2003). c) In any contract offer, acceptance, consideration and intention are very important as these are the basic element required to make a contract legally enforceable. Offer is important because if a person does not offer to another person to do something the other person cannot perform that task. Acceptance is necessary because a person should signify his assent that he has accepted his offer to do the task. Offer and acceptance makes a contract, and there should be a consideration (monetary value) to perform the task. There should be an intention to perform the contract otherwise there is no contract. a) Contents of standard business form are the terms of the contract. Every contract consists of terms and condition, which should be fulfilled by both the parties competent to contract. These terms are set by both the parties and must perform in order to finish the contract (Jones, 2013). These terms can be written or communicated with conversation at the time of entering a contract. The terms and conditions can include the price, which will be given on performance, mode of payment and the way to perform the task. All  terms and conditions must be fulfilled and must be performed in the agreed manner as they are essentials to the contract (Austen-Baker, 2011). b) The terms identified in the contract between Lady Gaga and owner of the Opera is the performance of the artist for several days.