Business Law and Ethics

Business Law and Ethics

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
PART1(Breach of Contractual Relationships and Remedies).........................................................3
Advise Raymond on possible remedies available to him............................................................3
Would your answer be any different if Samantha had paid Raymond the £200 three weeks
earlier than the debt was actually due, and Raymond had agreed to this?..................................4
What would be the legal position if Raymond had requested a £400 payment from Samantha
as full and final settlement?.........................................................................................................5
What advice do you have for Samantha?....................................................................................5
CONCLUSION ...............................................................................................................................6
REFERENCES ...............................................................................................................................7

INTRODUCTION
Business laws are the laws that is used for establishing of an business organization
according to the laws that has been specified by an country. Such laws makes formation of a
concrete framework which helps an organization to achieve its goals and objectives in
appropriate manner. These laws are important from view point of providing laws by embedding
proper legal process within it. Business laws has very important role to play within an
organization and its various process. Ethics is considered to be those rules and regulation that has
made establishment of discipline and order within an organization. These rules provide basic
structure to enhance working environment of an organization. Scope of these laws is very
broader as they cover various aspects related to an business organization. Nature is vibrant as it
deals over those important elements of an organization that strengthen efficiency of employees in
an organization. In this essay contract law is dealt with. Then breach of contract and remedies
related to its is covered. Then case scenario various questions is given that has to be answered.
TASK
PART1(Breach of Contractual Relationships and Remedies)
Case Scenario: Raymond work part-time in a firm as accountant within taxation
department and runs also runs small consultancy business. He is the sole owner of its business
and has specialization in personal taxation advice. Raymond entered in an contract with
Samantha she is an struggling artists. The an draft has been prepared within last three years for
sum of £800. Raymond completed work and Samantha told that she could only pay £200 as full
settlement of debt. As Samantha's paintings began to sold at higher price and Raymond read this
in news paper that last work has been sold for £20,000. Now he wishes to claim the remaining
balance of £600 from Samantha (Jabbar and et. al., 2018).
Following questions required to be answered regarding above scenario:
Advise Raymond on possible remedies available to him.
Contract laws are the law that makes an agreement to be formed between two parties or
individual for making sure that all transactions is done in smooth manner. Such laws helps
making an concrete contract possible between parties willing to come into contract. In these laws
agreement has been formed between parties that results into contract. As per these laws most
common form of wrong which is committed by parties is breach of contract. This means when an