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

Business Law and
Ethics

Contents
Introduction (Project 1)................................................................................................................3
Main body (Project 1)..................................................................................................................3
Conclusion (Project 1).................................................................................................................6
Introduction (Project 2)................................................................................................................7
Main body (Project 2)..................................................................................................................7
Conclusion (Project 2)...............................................................................................................10
REFERENCES..............................................................................................................................11

Introduction (Project 1)
Business law is an institution regulating industry and trade, and is also regarded a subset of
common law, dealing with both private and public law concerns (Crane, Matten and Spence,
2019). Business ethics is characterised as a method of properly carrying out operational
activities. This part of the report would ensure that the relevant statute and regulations and even
the judicial process adapted for the proper resolution of individual case study that is explained
below.
Main body (Project 1)
Contract law and its blue prints
The contract is declared "to be legally enforceable on the both sides." It has also been studied
that contract law is regarded as the essential law followed by a person in his or her professional
life. The arrangement needs to be in verbal form and even in written form (Weir, 2020). It is
necessary to have two parties who have made a specific arrangement to enter into a particular
contract. A contract specifies various obligations and duties and defines the terms or conditions
of a contractual arrangement. It is necessary for all contractual parties to follow separate
conditions of the contract and if either one party decides to violate the agreement then it is that
entity 's responsibility to repay the other party who is affected. Besides that, it is necessary for
the injured party to have proof in judgment that there is a legal contract between the two sides
and that the damage is sustained only by one party due to breach of the agreement. In order to
assess the fact that a legal contract exists between both the parties, the court will define facts as
to whether an agreement occurs between two parties or not.
In particular, agreement must dominate over the legislation condition of the contract and
approval of it by a fair and lawful agreement. It requires approval as well as recognition which
assists the entry into contractual contract. Offer is known to be "a symbol of readiness or
eagerness to compromise to such terms from one group to another." Giving acceptance is distinct
from offering to another. There is a disparity between two Harvey vs Facey (1893) seminal
decisions that occur as a result of telegram submitted by applicant invent inquiry for low
property's value. The appellant decides the cheap price and then forward it by telegram (About
Harvey vs Facey case, 2013). Afterwards, the applicant forwards the mail that indicates he
intends to buy property at a fixed low price which has been withheld opposed the idea by the

defendant. The complainant then enters court and this means the defendant has contravened the
deal. The Privy Council then stated that the telegram wherein low rates were decided was
deemed an offer to sell and the bid submitted by the defendant's accepted appellant. Therefore,
the sides do not have a binding deal. The Other seminal decision is called Fisher vs Bell (1961),
in which the courts listed all shows in shops or retail outlets as an offer to sell and the individual
who willingly buys these items is decided as a retailer bid (About Fisher vs Bell case, 2016).
The next step is considered as recognition, to shape a contract. The person accepting an offer
from another is known as acceptance. In the aspect of cancelation of an acceptance, this can only
be cancelled when this comes to knowledge of an individual (Madden, 2019). Affirmation
cannot be reversed until it is in the sense of transmitting information and where the sides are
bound together by law. Moreover, the consideration for a legitimate contract is called a second
element. It's just what the parties offer for the reason of forming a deal. It is in the context of
financing and there are also different commitments to do or refrain from doing something for
each other.
It is necessary or mandatory for all parties to the contract to have the intention of entered into a
legal agreement at the time of contract formation. In general, if the contract is concluded
between both the husband and the wife or father and the son, and so on, then the contract is
deemed invalid. The seminal decision called Balfour vs Balfour states that there is an
arrangement between wife and husband then the court stated that there is no legitimate reason
between wife and husband, and that it is not established as a contractual obligation.
Court system in relation to English legal system and advise the parties above which court action
to pursue.
In the current aspect, the nation has stressed the use of legal procedures to sustain peace in the
region. In addition, the English legal system highlighted the need to take reasonable actions to
produce effective outcomes. In order to settle these types of cases, the justice system is very
critical in that it divides into two sections that are considered criminal and civil. Explanation
given below for specific judicial system:
Civil Proceedings: It is decided as a significant matter and shall be settled in general by the
judiciary. The Legal Issues are considered to be a less complicated matter to be settled by court
judges (Ferrell, Ferrell and Hair, 2019). There are various forms of court during civil trials, such