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BLO1105 Business Law Assignment Victoria University

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VICTORIA UNIVERSITY

   

BLO1105 Business Law (BLO1105)

   

Added on  2020-04-07

BLO1105 Business Law Assignment Victoria University

   

VICTORIA UNIVERSITY

   

BLO1105 Business Law (BLO1105)

   Added on 2020-04-07

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BLO1105 Business Law Assignment Victoria University_1
CONTRACT LAW2ContentsQuestion 1........................................................................................................................................3(a).................................................................................................................................................3Issue.........................................................................................................................................3Rule..........................................................................................................................................3Application..............................................................................................................................7Conclusion...............................................................................................................................8(b).................................................................................................................................................8Issue.........................................................................................................................................8Rule..........................................................................................................................................9Application..............................................................................................................................9Conclusion...............................................................................................................................9Question 2......................................................................................................................................10Bibliography..................................................................................................................................13A.Articles/ Books/ Reports.....................................................................................................13B.Cases...................................................................................................................................14C.Legislations.........................................................................................................................14D.Others..................................................................................................................................15
BLO1105 Business Law Assignment Victoria University_2
CONTRACT LAW3
BLO1105 Business Law Assignment Victoria University_3
CONTRACT LAW4Question 1(a)IssueThe key issue in this case revolves around a possible contract being formed between Mary and Lianne, based on the components of offer and acceptance. RuleA lawfully binding agreement is deemed as a contract, in which are covered the promises made by the parties to such contract. In such a contract one party makes the promise to fulfil the task stated under the contract and the other party makes the promise to pay the value of consideration, as has been decided under the contract1. It can be formed in both an oral and in written manner. In the oral manner, the terms on which the contract is based, i.e., the foundationsof the contract, are exchanged orally. And in a written one, these foundations are put in a document which is then signed by the parties to such contract. Even though the formation method of the two differs, the oral and written contracts both continue to have legally validity, solong as they have the requisite components of contract formation2. For the creation of such a lawfully binding contract, the agreement needs to have the crucial components of a contract3. These components are an offer, its acceptance, a consideration, the intention, the capacity, the clarity and the consent of the parties. Where such 1 Neil Andrews, Contract Law (Cambridge University Press, 2nd ed, 2015)2 Jill Poole, Casebook on Contract Law (Oxford University Press, 2016)3Tess Wilkinson-Ryan and David A. Hoffman, ‘The Common Sense of Contract Formation’ (2015) 67 Stan. L. Rev.1269.
BLO1105 Business Law Assignment Victoria University_4

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