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Business law and contract : Assignment

   

Added on  2021-04-24

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Running head: BUSINESS LAWBusiness law Name of the Student:Name of the University:Author Note
Business law and contract : Assignment_1

1BUSINESS LAW Part A1.The Unfair Contract Terms Act 1997 governs the liability of business in relation toexclusion and exemption clauses2.A condition of a contract is one of the most important terms of the contract which goes toits root and is essential to be realized for the purpose of giving effect to a contract. Forexample in a contract involving sale of goods of, the time of delivery of the goods can bea condition of the contract. In case of a breach of a condition the aggrieved party has theright to either repudiate the contract or keep the contract effective. In both the cases theaggrieved party has the right to claim damages (McKendrick, 2014). A warranty on theother hand is a less important term than a condition. A warranty is usually treated as anassurance or promise. Any statement which contains factual details are to be treated aswarranties. In case of breach of a warranty the aggrieved party has the right to claimdamages; however he is not entitled to repudiate the contract.3.A frustrated contract is one which is incapable of being performed even if there is nofault of either of the parties. When a contract gets frustrated, the obligations of the partiesbecome different from those as agreed upon by the parties formally. Legally, a frustratedcontract is considered to be terminated. However, a frustrated contract is not to beconsidered void ab initio. Only future obligations as imposed by the contract upon theparties are discharged (McKendrick, 2014). Delay in performing the terms of a contractcan lead to the discharge of the contract. A contract is usually frustrated when thepurpose of the contract has ceases to exist.
Business law and contract : Assignment_2

2BUSINESS LAW 4.Misrepresentation is constituted by providing statements which are untrue andmisleading. A misleading or untrue statement of facts as produced by either of the partiesduring the negotiation constitutes misrepresentation (Knapp, Crystal, & Prince, 2016). 5.According to the Sale of Goods Act 1979, goods are considered to be of satisfactoryquality if the same is assessed by a reasonable person. While assessing standard quality,all the relevant factors including the description of the goods and the price of the goodsare to be consideration. Part B1.The case in consideration is a civil case as it deals with incorporation of contract terms2.In the chosen case he plaintiff had made a claim to exclude rule 5 from the terms of thecontract. The same was not published in the newspaper, when the cash prize had beenfound3.The defendant had won the case 4.A case is normally heard by three appellate judges5.The case law as illustrated in the case Parker v South Eastern Railway Co (1877) 2 CPD416 was referred to. In the aforementioned case the principle of reasonable notice wasdiscussed.
Business law and contract : Assignment_3

3BUSINESS LAW Bill is introduced to the house of representativesThe Bill is reviewed by the committeeHearing of the bill at the committeFloor ActionFloor actionBill is enforced as lawBill is returned to the original house of parliament Bill is passed to governorPart CFigure One: Process of transformation Bill to LawSource: Created by Author
Business law and contract : Assignment_4

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