Contractual and Non Contractual Liability Essay

I. Contract A contract is an cartel having a lawful object entered into voluntarily by two or much parties, each of whom intends to create one or more legal responsiblenesss in the midst of them. The elements of a contract argon offer and espousal by sufficient persons having legal capacity who exchange consideration to create mutuality of obligation. Contracts whitethorn be bilateral or unilateral. A bilateral contract is an musical arrangement in which each of the parties to the contract makes a foresee or castigate of promises to each other(a).For example, in a contract for the sale of a home, the emptor promises to yield the seller $200,000 in exchange for the sellers promise to deliver title to the property. These common contracts take place in the workaday flow of commerce trans actions, and in cases with sophisticated or expensive promises may involve extensive negotiation and various condition precedent requirements, which argon requirements that must be me t for the contract to be fulfilled. Less common be unilateral contracts in which one companionship makes a promise, but the other side does non promise boththing.In these cases, those accepting the offer be non required to communicate their acceptance to the offeror. In a retort contract, for example, a person who has lost a track could promise a refund if the dog is found, through prevalentation or orally. The payment could be additionally conditioned on the dog being returned alive. Those who learn of the reward be not required to search for the dog, but if someone finds the dog and delivers it, the promisor is required to pay. Elements At common law, the elements of a contract argon offer, acceptance, intention to create legal relations, and consideration.Offer and acceptance In rig for a contract to be formed, the parties must reach mutual assent. This is typically reached through offer and an acceptance which does not vary the offers terms, which is known as the mir ror image rule. If a purported acceptance does vary the terms of an offer, it is not an acceptance but a counteroffer and, therefore, concurrently a rejection of the original offer. Intention to be legally bound In commercial agreements it is presumed that parties intend to be legally bound unless the parties expressly enunciate the opposite as in a heads of agreement document.For example, an agreement among two business parties was not enforced because it contained an honor clause which express the parties wish that the agreement not be reviewed or enforced by a court. In contrast, domestic and social agreements such as those between children and parents are typically unenforceable on the basis of public policy. For example, a husband agreed to give his wife $100 a month while he was away from home, but the court refused to enforce the agreement when the husband stopped paying.Consideration is something of value given by a promissor to a promisee in exchange for something of v alue given by a promisee to a promissor. Typically, the thing of value is a payment, although it may be an act, or forbearance to act, when one is privileged to do so, such as an braggy refraining from smoking. This thing of value or forbearance from some legal business is considered to be a legal detriment. In the exchange of legal detriments, a bargain is created.II. Contractual Liability Contractual obligation, is exactly as it sounds. A contract is a legal binding agreement between two or more persons.When you sign, or agree to the terms of a contract, then(prenominal) you have accepted the contractual liabilities set forth in the document. Liabilities are things that you bunghole be held accountable for, and may have to repay or replace, in the event that they occur. For example, a renters agreement may state that, If upon moving out of the premises stated in the contract, any part of the premises is destroyed, you may be accountable for and have to pay to repair, or repla ce the damage. Contractual liability (or liability because of a contract) has a very broad meaninga promise that may be enforced by a court.Consider the following open example. I agree to paint your house for $1,000 and collect $500 preliminary to the job. After I accept the $500, I obtain a more lucrative offer and never show up to paint your house. You can go to court and claim the $500 you paid me, as I have breached the contract. Your claim is a contractual liability claim. Contractual liability can take many forms, but is basically holds you accountable for restitution that are stated in the contract. Another example can be a publishing contract. If you are found guilty of plagiarism, the publisher is not accountable for the act.It is your contractual liability, to release the publisher from fault, and take it yourself. In a nutshell, contractual liability, is anything that you agree to in the terms set forth in a contract. Before entering in to any contract, if you do not u nderstand the terms, consult with an attorney.III. Non-contractual liability The term non-contractual liability can be defined as tort liability. Tort liability is legal obligation of one party to a victim as a results of a civil wrong or injury. This action requires some form of renovate from a court system.A tort liability arises because of a combining of directly violating a persons rights and the transgression of a public obligation causing damage or a private wrongdoing. secern must be evaluated in a court hearing to grade who the tortfeasor/liable party is in the case. Some torts are in addition crimes punishable with imprisonment, the primary aim of tort law is to provide imprint for the damages incurred and deter others from committing the same rail ats. The injured person may execute for an injunction to prevent the continuation of the tortious conduct or for monetary damages.For example, a grind was built in A village. Then this factory releases so much smoke and waste which can harm to humanity health and environment. Therefore, this factory has to take responsible for her releasing. Among the types of damages the injured party may recover are loss of earnings capacity, pain and suffering, and comely medical expenses. They include both present and future expected losses. Torts string up into three general categories intentional torts (e. g. , intentionally hitting a person) indifferent torts (e. g. causing an accident by failing to obey traffic rules) and inflexible liability torts (e. g. , liability for making and selling defective products). Intentional torts are any intentional acts that are reasonably foreseeable to cause harm to an individual, and that do so. Negligence is a tort which depends on the existence of a breaking of the duty of care owed by one person to other from the perspective of a reasonable person, it is just carelessness not intention. unforgiving liability wrongs do not depend on the degree of caution by the defendant, but are established when a particular action causes damage.