The Business Law Assignment

2020Business Law
Assignment
Student’s Name
Business Law
Assignment
Student’s Name

Law8500 1
Contents
Issue............................................................................................................................. 2
Laws............................................................................................................................ 2
Application.................................................................................................................... 4
Conclusion..................................................................................................................... 5
References................................................................................................................. 6

Law8500 2
Issue
Whether a contract developed between Bonza Bee and Gordon in the given case scenario?
Laws
Every contract develops based on certain key elements that are also known as essential of the
same. A contract may refer to a legal dealing where parties do certain promises to each other in
exchange for certain considerations. Here this is necessary to mention that a contract may be
formed in writing as well as oral form. In the case of a written contract, parties sign the related
document. No matter whether a contract is written or oral, the same seems valid as long as it
consists of all the key essential elements. These elements include offer consent, consideration,
the intention of the parties and their capacity. An agreement can only be converted into the
contract when the same would have the presence of each element. These elements are further
discussed in the below-mentioned discussion.
The first element is an offer, which refers to a proposal from one party to another. In this
proposal, a party makes a promise to others to do a particular thing or to refrain from doing the
same. An offer can contain any proposal but the same must be valid and legal. It means one
cannot propose to an act, which is prohibited under the law such as the murder of someone, sell
or purchase of illegal weapons and so on. An offer is something different from an invitation to
treat as the later terms do not have an intention to bind. An invitation to treat only makes calls for
offer. The important thing to notice here is that not every contract is required to have an
invitation to treat but the same always have an offer. In this manner, this is to state that offer
binds the offeror but an invitation to treat only reflects a will to make a contract. As decided in