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Legal & Regulatory Framework Assignment 1 By Palbinder Sandhu Business HNC Course Attendance: Monday (Day release) Tutor: Rubina Halim Submission date: 28.10.02 Contents Page Subject Page No. Task 1 - Forming a Contract 3-4 Task 2 - Misrepresentation 5-6 Task 3 - Exemption Clauses 7-8 Reference Page 9 Bibliography 10 Task 1 Forming a Contract A contract is an agreement between two or more persons to do a particular thing in exchange for something of value. A contract should show a meeting of minds between two or more parties. A valid contract requires: * An offer * An acceptance * Some consideration * Intention to create legal relations An Offer 'An offer is a proposal made on certain terms by the offeror, with a promise to be bound by that proposal if the offeree accepts the stated terms'.1 An offer can be made to one person, a group of people or the whole world as indicated by the case of Carlill v Carbolic Smokeball Co. 1983. The company had made an 'offer' to the whole world and was...

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