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

Business Law
and
Ethics

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................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..............................................6
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business ethics is also known as professional ethics as it provides a detail about all the
ethical problems that may arise in business, it helps helps to maintain a transparent and healthy
relation with there stakeholders. It gives all the value of norms and morals that has to applied in
so as to resolve ethical issues. Business law comprises of all the rules and laws made in order to
run a successful business. it has certain rules embodied for commercial regulations it covers laws
like Employment Law, Labour Law, IPR, Law of Contract and many more (Cavazotte, Cohen
and Brunelli., 2019). Contract law is an agreement enforced between the parties before they
enter in a valid contract, they have some legal obligation and rights through which they protects
the right of the party. This report deals with formulation of contractual relationships.
TASK
Define contract law and describe all the blue prints of a contract.
Contract law deals with contracts regulation and it also is a branch of English law. A
contract essentially is an agreement which gives rise to certain obligations which are enforceable
and recognised by the law.
There are 4 essentials to the formation of any contract. Blue prints of a contract are:
 Offer: An offer is expressing the willingness to contract either orally or by conduct. It is
made with a legal intention that once it is accepted, it binds the person making such offer.
The person making such offer is called as offerer. Offerer may revoke the offer anytime
before the offer is accepted by the party and for the same communication shall be made.
 Acceptance: Once the offer gets accepted either orally or by conduct then the person
accepting the offer (called as offeree) enters into an agreement. This does not create any
legal obligations upon the parties (Frémeaux, Michelson and Noël-Lemaitre., 2018).
Offer and acceptance together forms an agreement but is not legally binding on the
parties.
 Intention to create legal relations: The parties shall have intention to create legal
relationship with each other. Mere agreement is not enough to form a contract. Parties
must have intention to enter contract wilfully without any undue influence, coercion, etc.