BTEC HND IN BUSINESS (Accounting

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ASSIGNMENT COVER SHEET
NAME OF STUDENT REGISTRATION NO. UNIT TITLE ASSIGNMENT TITLE ASSIGNMENT NO NAME OF ASSESSOR SUBMISSION DEADLINE VN: EN:

Aspects of Contract and Negligence for Business Contracts 1 of 2 (individual report) Mr. John Andre 8 Nov 2013

I, __________________________ hereby confirm that this assignment is my own work and not copied or plagiarized from any source. I have referenced the sources from which information is obtained by me for this assignment.

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ACNB Assignment 1 Fall 2013-2014

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2 analyse terms in contracts with reference to their meaning and effect 1.3 Merit grades awarded Distinction grades awarded M1 D1 M2 D2 M3 D3 ACNB Assignment 1 Fall 2013-2014 2 .Unit Outcomes Outcome Evidence for the criteria Feedback Assessor’s decision First attempt Rework Internal Verification Understand the essential elements of a valid contract in a business context LO1 explain the importance of the essential elements required for the formation of a valid contract 1.1 discuss the impact of different types of contract 1.1 Be able to apply the elements of a contract in business situations LO2 apply the law on terms in different contracts 2.2 evaluate the effect of different terms in given contracts 2.3 apply the elements of contract in given business scenarios 2.

................................................Outcome Evidence for the criteria Feedback Assessor’s decision First attempt Rework Internal Verification Assignment ( ) Well-structured............................................................................... you’ve Areas for improvement: ASSESSOR SIGNATURE DATE / / NAME: .................. FOR INTERNAL USE ONLY VERIFIED YES NO DATE : ................................................................................................................ VERIFIED BY : .................................................... ACNB Assignment 1 Fall 2013-2014 3 ... (Oral feedback was also provided) STUDENT SIGNATURE DATE / / NAME : ........................ Reference is done properly / should be done (if any) Overall.................................. NAME : ..........................

Delicious Tables said there was nothing in the contract so they did not have to replace anything. said that all tables bought that month would include an extra guarantee saying that they would replace any table. similar.SCENARIO Ken Kummings. If Charlie does not clear all KCC restaurants. The food was returned to the restaurant but by that time it could no longer be sold and had to be thrown away. Charlie is the local health inspector and has hinted that he does not think KCC is clean enough. The food was prepared as ordered and after Albert finished the meal he started to leave without paying. His first issue is with a customer named Albert who came into the restaurant and ordered some food for himself. The cost of the three tables is ₤150. The supplier. The food was properly prepared and when delivered to Bob’s address (5 minutes late). The cost of the food was ₤200. Charlie refused to give Ken his money back so Ken is planning to sue Charlie. Albert said there was no contract and Ken should try to sue him but he will lose because there was nothing signed. Your goal is to guide him to a better understanding of contract law. Signed by Ken: Date: Signed by Charlie: Date: Ken believed that with everything in writing. Charlie told Ken that for ₤500 he could make sure that all KCC restaurants in the city would be OK for doing business. There was another. he would be certain to either get what he wanted or get his money back. owner of a small chain of restaurants called Ken Can Cook (KCC) has hired the business consulting firm (which you now work for) in search for a better understanding on how the law affects his business. However. Ken feels this is unfair since the ad was what motivated him to buy the tables that month. Ken recently purchased 10 new tables and 40 new chairs for one of his KCC restaurants after hearing an advertisement on the radio. He has several situations which you need to comment on. without charge. Charlie will return all of the ₤500 to Ken. issue with a customer named Bob who filled out a form online to order food for delivery within 30 minutes. Charlie still failed KCC for being too dirty and KCC had to close for one week. ACNB Assignment 1 Fall 2013-2014 4 . Delicious Tables. if the table was chipped or scratched in the first year of service. The cost of the food was ₤150. Three of the tables were chipped and Ken wanted them replaced as the radio ad said. losing ₤5. Bob said that he was under 18 so he did not have to pay. Ken didn’t want to take any chances so he wrote a simple contract as follows: The undersigned agrees that all Ken Can Cook (KCC) restaurants in the city of Stratford Upon Avon will be given clearance by the health inspector Charlie in consideration for ₤500.000 in expected profit. When Ken confronted Albert.

Another issue that Ken has is with Fast Money Bank. Henry and Ivan are planning to sue KCC but Ken thinks they will lose because he has protected himself. He wants to know what his options are.000 for both of them.78. The written agreement said that Ken would give to Edie a cash register in good working order and Edie would give to Ken a dish washing machine in good working order. broke. on Wednesday. Ken sold it to Gary for ₤300. someone stole smartphones from both Henry and Ivan. Ken needed a working capital loan so he went to Fast Money. which helped the cooks make sure they did not overcook any meals. Edie tried to use the cash register only to learn that it never worked. If KCC failed to make any payment on time. Edie and Ken exchanged items. Ken called Jelly Bean Rentals and told them to come and fix it. including personal injury. Edie now wants to get the dish washer back from Gary but Gary. before Ken ever used the dish washing machine. After six months.000 but Ken showed them the disclaimer on the back of their receipt. The terms of the lease were that KCC would pay Jelly Bean Rentals ₤200 per month for 18 months and Jelly Bean Rentals would ensure that the stove worked correctly during the length of the lease. The ordered their lunch and on the back of the receipt was printed “KCC accepts no responsibility for any losses. By this time Ken was angry and ACNB Assignment 1 Fall 2013-2014 5 . occurring while on KCC property. On Monday. Henry and Ivan expect KCC to pay for all ₤2.000 and the two shook hands.45 for 24 months for a total of ₤11. reducing customer wait time. Gary says that Edie must deal with Ken.000 at 10% interest per year for two years. This stove allowed KCC to increase their productivity because they could cook more meals at the same time. Fast Money would have the right to take and sell any asset from KCC in order to get the money owed by KCC to Fast Money. it took them 3 months before they came to fix the timer. On Friday. While they were out. hitting their heads. and agreed by talking (with nothing in writing) with the following terms: Fast Money would lend KCC ₤10. One more case involved Henry and Ivan who entered KCC on a Monday for lunch. who is a friend of Ken’s. Two days later. in the end. KCC would make equal monthly instalments of ₤461.074. Edie was told that all sales are final and Edie cannot get her dish washing machine back because Ken has already sold it.Ken decided to buy a used dish washing machine from Edie. and losing consciousness. Each phone costs ₤500 to replace and the hospital bills after the accident totalled ₤1. When she went to Ken. says he made a good faith trade with Ken and he will not give the machine back.” A customer had spilled a drink but the employees were too busy to notice it. The loan officer gave Ken the ₤10. Ken admitted that the cash register never worked but says Edie should have checked before taking it. met with a loan officer. Henry and Ivan both slipped in the liquid. Another item Ken would like advice on is about a new stove he leased. the timer on the stove. Ken has already made two payments but feels he cannot make any more payments without running out of money (which means he would have to close his restaurant). Jelly Bean Rentals offered excuse after excuse and.

the customer had to send someone out to buy ketchup and mustard. Ken has not made any further payments and 4 more months have passed. apply the law on two or more terms (outcomes 2. He insisted to the manager. KCC also has an issue with a customer who ordered 1. discuss the impact of different types of contract (outcome 1. Select and apply appropriate methods/techniques ACNB Assignment 1 Fall 2013-2014 (M2) 6 .2) Explain several different terms in contracts referencing their meaning and effect (outcome 1. Your tasks: A) Using one or more contracts from the scenario. Ken believes he does not owe any payments (and he didn’t make any late payments before he cancelled the contract) to Jelly Bean Rental since he told the manager to his face that he wanted to cancel the contract.).3) B) C) D) E) GRADING Pass is achieved by meeting all the requirements defined in the assessment criteria. The customer was expecting there to be condiments and when there weren’t any. The contract stated that if Ken failed to make 2 or more payments on time then the monthly payment for all future payments would double to ₤400 per month.3) Using two or more of the contracts from the scenario. The customer now wants the money back for the condiments but Ken says that condiments were not included in the contract although he does offer then for free in his restaurant.1) Using one or more of the contracts from the scenario.1 & 2. The cost of the condiments was ₤100.000 hotdogs last month for a party. evaluate the effect of two or more terms in the contracts (outcome 2. who came with the repairman to fix the broken timer. The manager refused saying they contract would stay in force. KCC delivered the hotdogs but did not deliver any condiments (mustard. that KCC would not make any more payments on the stove and that Jelly Bean Rentals should disconnect the stove and take it back according to the terms of the agreement.wanted to break the contract. Identify and apply strategies to find appropriate solutions (M1) Merit Characteristics / Possible Evidence – Effective judgments have been made with respect to scenario contracts.2) Using one or more of the contracts from the scenario. explain the importance of the essential elements required for the formation of a valid contract (outcomes 1. etc. ketchup.

assignment number. You must acknowledge the sources of information and evidence using the Harvard referencing system. Demonstrate convergent/lateral/creative thinking (D3) Characteristics / Possible Evidence – Innovative and creative thought have been applied. Submit both a hard (printed) and soft (electronic in DOCX format) copy by the deadline listed above. Table of contents with a list of all headings and page numbers. 12 point Times New Roman. A fully typed up professionally presented report document. 6. Distinction Use critical reflection to evaluate own work and justify valid conclusions (D1) Characteristics / Possible Evidence – self-criticism has been shown regarding analysis and recommendations. 8.Characteristics / Possible Evidence – Appropriate methods have been applied in analyzing legal impact and selection of cases to include has been justified. logical development of principles/concepts for the intended audience. 2. 3. Use 12 point Arial. course title. 9. PRESENTATION 1. Appendices/administrative aspects are outside this word count limit. 7. 4. Ensure that authenticity declaration has been signed. Your assignment should be word-processed and should be less than 3. This is an individual assignment. 5. The assignment should have a cover page that includes the assignment title. or 11 or 12 point Calibri script. module title. Present and communicate appropriate findings (M3) Characteristics / Possible Evidence – You have used coherent. ACNB Assignment 1 Fall 2013-2014 7 . Lecturer/tutor name and student’s name.000 words in length.

If you are unable to hand in your assignment on time and have valid reasons such as illness. Failure to follow any of these instructions may cause you to fail for submitting improperly. NOTE: If you are caught plagiarizing. you properly reference them in your text and any bibliography. Take great care that if you use other people’s work or ideas in your assignment. Failure to achieve a PASS grade will results in a REFERRAL grade being given. Late assignments may not be accepted.NOTES TO STUDENTS FOR SUMMISSION          Check carefully the submission date and the instructions given with the assignment. You must take responsibility for managing your own time effectively. Ensure that you give yourself enough time to complete the assignment by the due date. the University policies and procedures will apply. ACNB Assignment 1 Fall 2013-2014 8 . Do not leave things such as printing to the last minute – excuses of this nature will not be accepted for failure to hand-in the work on time. you may apply (in writing) for an extension.

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