Business Law and Corporate Law -

Running head: BUSINESS AND CORPORATE LAW
BUSINESS AND CORPORATE LAW
Name of the Student
Name of the University
Authors Note

BUSINESS AND CORPORATE LAW1
Answer 3.1
Parties
In this given scenario the parties are:
 Plaintiff- Emily
 Defendant- Maggie
Issue
In this paper, the issue to be discussed is:
 Whether Emily has a contract with Maggie;
 Whether Maggie is bound to sell her van to Emily.
Rule
A contract is regarded to be as an arrangement made between two or more parties either
persons or establishments, with the intention of form common and legally binding obligations
(O'Sullivan, 2018). A valid contract must consist of the following elements, such as:
 Offer;
 Acceptance;
 Intention to form legitimate relation; and
 Consideration.
On the other hand, in Fisher vs. Bell [1961] 1 QB 394 case the court held that where any
product has been displayed with a price tag, such display is considered to be an invitation to treat
by the seller and not an offer.