Contract law new zeland report

Both customers and business companies use contracts in buying and selling of products, licensing of activities and products and making insurance and employment agreements. Contacts allow these transactions to take place smoothly without any confusions. They also allow the parties involved to carry out their affairs with confidence. Contracts ensure that there is clarity in terms of transactions. A valid contract should have four parts. In situations where a document indicates that the contract is only a statement of intent, both sides cannot have a common agreement to make a contract. Informal agreements amid friends are a good example of this category. A business contract normally creates several obligations which are to be fulfilled by both parties who made the agreement.

According to the law, if a single party fails to meet its contractual obligations, this will be referred to as a breach of the contract. Depending on what was specified in the contract, a breach can take place when one party does not fulfill his obligation son time, does not fulfill according to the terms or fails to perform at all. The first payment option for the customers involves selecting the foodstuffs they wish from a digital list that is available on the company’s website and they can also choose their delivery date and payment methods. After completing their selection, they can pay online where a token known as the pay in advance token is generated. This token is supposed to be presented by the deliveryman on the day of delivery.

The other type of payment option is where the buyer can pay at the time of delivery or on a day that is appointed later. However, such customers will have to pay an amount that is higher than the other payment. By making the payment on time, Aaria had agreed to the terms of the company’s offer thus making a contract with them. However, during the appointed day of delivery, she did not receive any foodstuffs. According to the terms of the contract, the company had an obligation of delivering the foodstuffs to Aaria on the date agreed upon. Maria agreed to the terms of the contract by paying for the order on the required time thus forming a contract with the company.

There was a breach of contract by the company for failing to deliver the foodstuffs to Aaria and therefore she can seek for legal actions to solve the dispute(Burrows & Finn, 2017, p. By agreeing to the terms of the offer that was made by Kris Rickett Digital Inc. KRD, Tamaki Leather Placemade a contract with the company. Both of these parties had anobligation of fulfilling the terms of the contract. KRDs management played its part by providing 500000 dollars to TLD. TLD was supposed to use the money for the production of colorful jackets required for the adornment of the headphones that KRD was supposed to sell. This is because as much as TPL breached the terms of the contract by6 failing to deliver the jackets on time, they are only supposed to pay for the damages they have caused.

Claiming for compensation for finding an alternative publicity contract is not right because these are not part of the damages caused by TPL. In compensation, TPL is only required to ensure the breached party, KDR, returns to the state that it was before the breach occurred (Arvind, 2017, p. Therefore, KDR can only be compensated for the losses it faced due to the late delivery of the jackets. KRD can receive compensation for the cost of settling out of the contract with Loud Press. Although part of the loss that KRD faces is due to the breach, the real loss also includes them not mentioning the price of the headphones. References Andrews, N.  Contract Law. Cambridge, England: Cambridge University Press. Arvind, T.