Business And Corporation law | Assessment

Running Head: BUSINESS AND CORPORATION LAW
0
Introduction to Business Law
9/28/2019
Student’s Name

1
Contents
(a).....................................................................................................................................................2
Issue 2
Rules 2
Application 3
Conclusion 4
(b).....................................................................................................................................................4
Issue 4
Rules 4
Application 5
Conclusion 5
(c).....................................................................................................................................................5
Issue 5
Rules 6
Application 7
Conclusion 7
References........................................................................................................................................8

2
(a)
Issue
Does any contract exist between Li and the Lame Duck restaurant?
Rules
A valid contract leads many rights and obligations to parties. Every contract carries a certain
element, presences of which are mandatory. All these elements are essential and in the absence
of any of them, an agreement cannot turn into a contract. Firstly, an offer comes in an agreement
where the person who makes offer present a proposal of doing or not doing a particular task. The
offer is addressed to one specific person, whose acceptance is required. Similar to an offer,
another term also exist in certain cases which commonly known as an invitation to treat. The
same is different from the offer, comes before the same, and demands invite for offers. It means
whenever an invitation to treat exists, other parties have to make an offer in reply to the same.
The case Pharmaceutical Society of Great Britain v Boots [1953] 1 QB 401 has huge
significance here. In the decision of this case, it was provided that goods which are showed in a
shop with their rate tags are considered as an invitation to treat and the customer has to make the
offer to purchase them (Marson, 2013). Then after when shopkeeper accepts such offer, a
contract comes into existence between the parties.
When an offer is made to the offeree, such offeree needs to accept the offer according to the
rules provided in contract law to form an agreement (Legalvision.com.au, 2017). Consent can be
provided through conduct. It was given in the case of Hyde v Wrench (1840) 49 ER 132 that
terms of offer and consent must match with each other. It means consent is required to be