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

Business Law and
Ethics

TABLE OF CONTENT
1. Definition of contract law and its blue print............................................................................3
2. Court system in relation to English legal system and type of court each part needs to pursue
......................................................................................................................................................3
3 Analysis whether binding contract is between following people: Amy, Olivia, Hilary and
Eleanor.........................................................................................................................................4
4. Various remedies available to each parties..............................................................................5
PROJECT 2......................................................................................................................................6
INTRODUCTION.......................................................................................................................6
MAIN BODY ..................................................................................................................................6
CONLUSION..................................................................................................................................8
REFERENCES................................................................................................................................8

Project-1 Individual essay (1500 words)
INTRODUCTION
There are various laws that have been made by government to protect interest of people
and customers which need to be followed by various organisations that are operating its function
in society. Business that considered various laws while operating its function can easily grow
and expand its operation and gain competitive advantages. This is essay based on case study of
Contractual relationship between three individual such as Hilary, Amy, Eleanor and Olivia.
l壱1. Definition of contract law and its blue print
Contract law is type of written agreement between two or more parties to act in specific
manner or perform specific task and responsibilities. Or in other term it refers to accepted
proposal that is legally bided so that in case of arises of conflict it can be easily resolved between
them (Davies, 2018). Contract is simple document that includes legal right, responsibilities and
obligation, terms and conditions need to be agreed by two or more associated parties. The blue
prints or elements of contract can be understood as:
Offers: It can be stated that in order to have legal contract one party should offer something for
sales so that interest parties can stated their preferences. Therefore it means individual give
proposal to other party such as Hilary have give proposal for selling its printing press for
£15,000 to Eleanor, office computer for £1000 and valuable painting by Trumpeter £1.
Acceptance: The offer made by person needed to be accepted by other individual in order to
make valid legal contract between them (Roux, 2017). For example: Eleanor has not accepted
the agreement to pay £15,000 instead it say that it would like to pay £13,000. On the other hand
Amy was ready to pay £1000 but at the end she has rejected.
Consideration: In order to have legal contract there should some amount of consideration such
as object, services or payment which means both involved parties in agreement needs to pay
something to each other. Like in three above mention case there is no exchange of products or
consideration among interested parties so there is no contractual agreement between them.
Legality of subject matter: Contract agreements are mainly formed with legal purpose at the
same time has considered statutory regulation so that contract can be become valid. Therefore,
there was no legal binding between Hilary and other parties regarding to purchase and payment
of goods.
Contractual capacity: This element stated that individual must have contractual capacity to
enter into contract such as Hilary and other parties. Amy and Eleanor should have capacity to
pay specific amount as proposed by Hilary.
Contractual intent: For valid contract both parties need to be intended or interested in
purchasing products or services offered by other individuals (Pozzo, 2020). Such as in Hilary
has intention to sold products but Amy and Eleanor are not interested to have products.
l壱2. Court system in relation to English legal system and type of court each part needs to
pursue
English legal system is ideal for coming legal study that has helped in better resolution of
conflict that arise between parties. It can be illustrated that there are three separate legal system
in United Kingdome such as Scotland, England and Wales and Northern Ireland. Legal structure
of UK has classified into two House of Lords and House of commons. In order to be member of