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

Business Law and
Ethics

Table of Contents
INDIVIDUAL ESSAY....................................................................................................................3
Introduction............................................................................................................................3
Contract law and its blue prints..............................................................................................3
Court system in relation to the English legal system.............................................................4
Advise Hilary as whether binding contract exists..................................................................5
Explain and discuss various remedies available to the parties...............................................6
Conclusion:......................................................................................................................................6
INDIVIDUAL REPORT ................................................................................................................7
Introduction ...........................................................................................................................7
Discuss the case in context to ethical corporate governance along with Sabance-Oxley Act
2002........................................................................................................................................7
REFERENCES..............................................................................................................................11

INDIVIDUAL ESSAY
Introduction
Business law & ethics define as the kind of law which ensures that each and every
activity performed within the organisation must be ethical. It is said that business ethics are
usually refers to the method in which all the business functions must be done in an effective
manner by adopting all the ethical and legal factors (Beatty, Samuelson and Abril, 2018). This is
the first part of the report which will ensure that there must be proper law and court process
which will assist in resolving all the cases in a well defined manner.
Contract law and its blue prints
Contract is a agreement that is legally binding two parties & is set of principles that is
guiding all the legal contracts. There are some legal aspects of a contract that has to be Present in
order to make a contract legal:
Offer: Offer is one of the initial aspect of creation of contract (Tzafestas, 2018). The person or
a entity has to create a intention to enter in a valid contract.
Acceptance: A contract does not exist legally without a offer is accepting the proposed offer.
Without a mutual consist of both parties a valid contract cannot be created. Acceptance can
never be unambiguous that it should be expressed by performance, deeds or words.
Mutuality: The contracting parties have to agree to a specific agreement that is parties have to
understood and agree to all the terms and substances of a contract. There has to be “meeting of
minds” to give rise to a legal contract.
Consideration: It is necessary that every contract is created for consideration in return. Both the
parties have to provided some value (Kubasek and et. al., 2020).
Legality: Legality is a subject matter that is very crucial for a contract to be valid. There is need
to follow all the statuary regulations according to which contract is created.
There is no requirement that a contract has to be always be in writing.
Contractual capacity:
A person may posses contractual capacity to enter in a contract if they posses legal ability (Weir,
2020). In case of minor there is need to take parents or any guardian permission. If there is no

legal ability then a person cannot enter in any type of legal contract and that contract can't
legally bound a person.
Contractual intent:
A contract may not exist if two parties are not subjectively willing to enter in the contract.
Contract law is governed by a common law throughout a county. Law provides remedies to the
aggrieved party if all the elements are Present in the contract.
Above discussed are the some of crucial aspects of a legal contract that has to be present
in every legal contract. If any of the element is missing in a contract then it does not lead to
creation of a valid justified contract that can be presented in court. Hence, it is necessary that
while creation of a legal contract it must be assured that all the aspects are properly met.
Court system in relation to the English legal system
In the present scenario there are certain aspects that have to be followed to enhance the
regulatory system, English legal system is focussing on a judiciary system that is divided in two
pats that is criminal and civil law (Mnif and Znazen, 2020). Description of this judiciary system
is discussed below:
A unique feature that is part of English law is related to doctrine of judicial precedents
that is reporting of court decision that is from a binding source of law affecting future decision
making. Judge is bounded by court decisions of superior jurisdiction and not for the courts that
are inferior.
Classification of law:
Criminal law: It is concern with committing any offence that is against the society it includes all
types of crones. Criminals are prosecuted by state in this case.
Civil Law: Civil law is concern with disputes that are arising between private parties such as
employer employee or consumer & supplier (Nersessian, 2018). The injured party can sue in
court for obtaining injunction or damages.
Civil proceedings:
It is one of the critical aspects that has to be solved using judiciary premises. All the civil matters
are to be considered for solving with right judgement. In case of civil proceedings there has to be