Business Law and Ethics: Contracts, Court System, and Remedies

Business Law and Ethics

Table of Contents
INTRODUCTION...........................................................................................................................................3
MAIN BODY.................................................................................................................................................3
Define contract law and describe all the blue prints of a contract..........................................................3
Explain the court system in relation to the English legal system and advise the parties above which
court(s) action to pursue.........................................................................................................................4
Advise Hilary as to whether binding contracts exist between herself and each of the following people :
Eleanor, Amy and Olivia...........................................................................................................................5
Explain and discuss the various remedies available to the parties..........................................................5
CONCLUSION...............................................................................................................................................6
REFERENCES................................................................................................................................................6

INTRODUCTION
Commercial sector has the huge importance in current scenario and looking at the
requirements, number of new laws and regulations are being passed by English Legal system so
that effective result can be obtained. In the similar manner, there is Business law which provides
specific guidelines for commercial sector that has its own importance. The guidelines are
important because decision making ability of organization gets improved. In the similar manner,
ethical value has crucial role within the entity as it ensure that organization do not take any of
those step which can create issue for stakeholder at the time of attaining the goals. This file will
cover different aspects that suggests that how any of the contract is formed and what is the
procedure to resolve the problem through legal procedure. Along with it, by considering case
scenario, it will be analysed that whether binding agreement is there between the involved party
or not including several remedies.
MAIN BODY
Define contract law and describe all the blue prints of a contract.
Contract law is something which forms the agreement between the parties. The purpose behind
the agreement is to ensure that specific work is performed by the involved party. On a daily
basis, contract law comes into use between the people or organisation. Some of the contracts are
found to be in written form where some of them are also available in oral form. For the purpose
of formation of contract, involvement of two parties is must and once contract is formed, it is
essential that work must be formed in the similar manner (Sison, 2018). If any of the party
breaches the term and condition then they will be held personally liable and even they must
compensate the innocent party as per the order declared by the court. Although, innocent party
has the right to obtain compensate but for that they must be able to prove in the court.
The blue print of contract explains that whenever any of the party tries to enter into the
contract there are certain terms and condition which they must be able to focus because slight
mistake can create huge issue for them. Some of the important elements of contract are offer,
acceptance, consideration and intention to enter into the contract. In context of offer, it is
just a proposal which is to be presented in front of other person or entity. It is essential that any
of the offer must not be understood with the term invitation to offer as both of the terms are