Business & Company Law

Business & Company Law

Table of Contents
INTRODUCTION...........................................................................................................................4
QUESTION ONE............................................................................................................................4
In relation to English legal system, explain the difference between Common law and Equity.. 4
With reference to contract law, explain the postal rule and the exception(s) to it.......................5
With reference to contract law, explain the circumstances under which paying the creditor
with an amount less than he/ she claim can constitute a good consideration..............................6
QUESTION TWO...........................................................................................................................6
In the context of contract law, analyse the discussions between Alia and Shujad as to whether
there has been an offer and acceptance........................................................................................6
In the context of contract law, outline and discuss the other two elements, which were not
discussed in Question 2(a), required for a contract to be established using the relationship
between Benjamin and Shujad as an example.............................................................................6
In the context of contract law, explain the meanings and effect of ‘term’ and ‘representations’
respectively..................................................................................................................................7
Set out and discuss the remedies that are available to an injured party for a breach of contract.8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Business law is determined as a branch of law and regulations which governs the department
of commercial sector. There are multiple sub branches such as Company law, Intellectual
property law and many more. In current scenario, these laws are important as it doesn’t give
opportunity to conduct fraudulent activity and if any one does then, law with the help of policies
can easily identify about it. In context of the file, it has been categorised into two parts where
first part will explain about the English Legal System and difference between some of the law
and policies. Along with this, basic information relation to contract law will be discussed. On the
other side, second question will have the case study and on that particular basic relevant law and
policies will play the major role.
QUESTION ONE
In relation to English legal system, explain the difference between Common law and Equity.
English legal system is one of the advanced legal system where all of the actions are
taken only after analysing different factors. In order to make any of the decision related to law
and policies, they have two different representatives who has to overview all of the points in
detail i.e., House of Common and House of Lords. Both of this parliament body, overview every
single points so that chances of errors can be removed from the law (Bayern and et. al., 2017).
English Legal system has authorised number body to commences law so that burden from
specific law making branch can be reduced. It will also allow to form better form of law which
can be result oriented. Also, burden from central law making body i.e., Houses of Parliament can
be removed. Out of number of law making bodies, below there is the discussion about Common
law and Equity law on the basis of difference between.
Common Law Equity Law
The rule of common law is very simple where
judges in UK gets the power to form rules and
regulation for declaring the result (Stout and
et. al., 2016).
The law of Equity simply explains that there
are some of the situation where court has to
mitigate the harshness of the common law and
is not able to make new law for declaring the
decision.
In case of common law, it deal with plaintiff Equity law has the power to act only in the