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? SECTION 4: LEGAL ASPECTS OF BUSINESS
SPECIFIC OBJECTIVES CONTENT
Students should be able to:
1. explain the concept of contract; Definition and concept of a contract.
2. identify the types of contracts; Simple, specialty.
3. describe the characteristics of a
Offer and acceptance, competence of parties,
simple contract; intention to create legal relations,
consideration.
4. describe the characteristics of a Signed, sealed and delivered.
specialty contract;
Concepts of offer and acceptance which may
5. explain the conditions under which be written or verbal.
offer and acceptance are
communicated; (a) Concepts of discharge.
(b) Types of discharge.
6. explain ways by which contracts (c) Methods of discharge:
may be terminated or discharged;
(i) performance;
7. *apply the principles of a simple (ii) breach;
contract to cases; (iii) agreement;
(iv) impossibility;
8. explain why documentation is (v) lapse of time; and,
necessary in business transactions; (vi) death.
Case studies.
9. *prepare business documents for
various purposes; The importance of record keeping in a
business, including its value in satisfying
requirements for taxation and auditing.
Preparation of various business
documents, including pro forma invoices,
purchase requisitions, statements of
accounts and stock cards.
CXC 08/G/SYLL 17 22
