Business Law and Ethics

Business Law and Ethics

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................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?.........................................................................................................4
What advice do you have for Samantha?....................................................................................5
CONCLUSION ...............................................................................................................................5
REFRENCES...................................................................................................................................6

INTRODUCTION
Business laws are the laws that have been formed in order to make sure that an business
organization forms within legal framework provided by lawmakers of an country. Ethical laws
are those codes of conduct which makes sure that discipline and order is maintained in business
environment of an organization. Ethical laws helps in forming rules and regulations required to
be make work culture safer for employees to work within it. Both the laws hold wider scope in a
way that they affect business organizations performance and makes business environment to be
impacted. In this report breach of contract is there in context of case scenario and questions
regarding it are to be answered. Also in this various kinds of remedies is to be discussed
regarding breach of contract. Also relevant information regarding situation is to be explained.
MAIN BODY
TASK
PART1(Breach of Contractual Relationships and Remedies)
Questions to be answered in relation to case study are as follows:
Advise Raymond on possible remedies available to him.
Contract laws are the laws under which two parties come together through an agreement
in relation to smooth transactions of money. There are certain elements that have to be present in
a contract to make it valid in the eyes of law. Such elements are offer, acceptance, consideration
and legality all elements require to be present. A contract is formed on the basis of agreement
that has taken place between parties. Contract can be both oral or written, oral contract takes
place with the help of mutual understanding whereas written contract takes place by making an
written agreement between parties willing to come into contract In contract laws there is a
wrong done most commonly in the form of breach. There are certain remedies that are given
under contract laws and they are as follows:
Damages: This is one of the most common forms of remedy that is available in contract.
As per this remedy is been provided in form of rewards and money only when breach is
commented under a contract. (Harper, 2019). This kind of remedy is only available when there is
any kind of monetary issues that has been taken place. Such remedy provides for compensation
when it is related to money or financial terms.