Guidelines for ANCB Assignment 1

1.1 Explain the importance of the essential elements required for the formation of a valid contract combined with 2.1 Apply the elements of contract in given business scenarios
Explain each of the elements we discussed in class (invitation to treat, offer and acceptance, intention to create a legal relationship, consideration, and capacity). Give examples of each element using cases from the scenario. Remember, theory->real case->scenario case (for each element).

1.2 Discuss the impact of different types of contract

Explain face-to-face (verbal) contracts, written contracts, implied, and collateral contacts. For each, give an example from the scenario. Remember, theory->real case->scenario case (for each contract type).

1.3 Analyse terms in contracts with reference to their meaning and effect combined with 2.2 Apply the law on terms in different contracts combined with 2.3 Evaluate the effect of different terms in given contracts
Explain the meaning of the at least three terms we covered in class (warranty, condition, innominate term, express, implied, exclusion clauses, limitations clauses, terms of the contract, etc.) and when they are valid or invalid. Pick at least three cases from the scenario and give clear examples of terms. Explain who would win, why, and which precedent supports your reasoning. Explain potential remedies and damages. Remember, theory->real case->scenario case (for each term). Three terms, thee cases.