1.1 explain the importance of the essential elements of a valid contract in a business context
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Learning Outcomes Content Assessment Criteria for Pass
LO1 Understand the Essential elements: offer and acceptance; intention to
1.1 explain the importance of the essential elements of a valid contract in a business context
Types of contract: face to face; written; distance selling;
impact
Types of terms: condition; warranty; innominate term;
express; implied; exclusion clauses and their validity
essential elements required for the
formation of a valid contract
1.2 discuss the impact of different
types of contract
1.3 analyse terms in contracts with
reference to their meaning and effect
LO2 Be able to apply the
elements of a contract in
business situations
Elements: application of relevant principles and case law to
business scenarios
Specific terms: contents of standard form business
contracts; analysis of express terms, implied terms and
exclusion clauses in a given contract
Effect of terms: breach of condition, warranty and
innominate terms; legality of exemption clauses; outline of
remedies; damages
2.1 apply the elements of contract in
given business scenarios
2.2 apply the law on terms in
different contracts
2.3 evaluate the effect of different
terms in given contracts
LO3 Understand principles
of liability in negligence in
business activities
Negligence: differences to contract; duty of care; breach of
duty; damage – causation and remoteness of damage;
personal injuries; damage to property; economic loss;
occupier liability
Liability: employer’s liability; vicarious liability; health and
safety issues
3.1 contrast liability in tort with
contractual liability
3.2 explain the nature of liability in
negligence
3.3 explain how a business can be
vicariously liable
LO4 Be able to apply the
principles of liability in
negligence in business
situations
Negligence: application of the legal principles of negligence
and relevant statutory and case law to business scenarios
including: personal injuries, damage to property, economic
loss, occupier liability; defences; contributory negligence;
remedies
4.1 apply the elements of the tort of
negligence and defences in different
business situations
4.2 apply the elements of vicarious
liability in given business situations
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