Aspects of contract & negligence for business

ASPECTS OF CONTRACT & NEGLIGENCE FOR BUSINESS
Task 1
Types of Contracts.
Verbal contract is a type of formal agreement that is only spoken and is not confirmed by a written document, for example: buying a hot chocolate and a croissant in a coffee shop. Although being difficult to prove the terms of a verbal contract, in case of a violation, this kind of contract is juridically valid. A famous example of violation of a verbal contract occurred in the decade of 1990, when the actress Kim Basinger refused to honour her promise to be in the movie of Jennifer Lynch “Boxing Helena”. At the court it was attributed to the productors $8 million of damage, that Kim Basinger had to pay; the actress appealed about the decision and later on, the case was solved and it was decided that the amount to be paid stipulated in the first trial was going to be reduced, but not before the actress had to declare bankrupt.
Different to a verbal contract, a written contract is referred to in a written document that outlines an agreement to both sides. The sides can be individuals, enterprises or organisations. Written contracts can also exist between individuals and enterprises, between individuals and organisations in overall or between enterprises and enterprises, or even between enterprises and organisations overall. All the factors related with the agreement established between each side, must be included in the written document in details, and each side involved has to sign the document so that it is valid. A common example of a written contract is a work contract between an individual and an enterprise. Talking about written contract, any violation of the written terms in the document for each sides, it can characterise what is say to be breaking the contract, causing consequences for the side that violated the terms according to the written contract. In written contracts, generally it becomes really simple to resolve questions, in case problems occurs, because from