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

BUSINESS LAW AND
ETHICS

Table of Contents
MAIN BODY...................................................................................................................................3
PROJECT-1.....................................................................................................................................3
Following question is to be answered .............................................................................................4
Define contract law and describe all the blue prints of a contract..............................................4
Explain the court system in relation to the English legal system and advise the parties above
which court 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
PROJECT-2.....................................................................................................................................7
Discuss this case in relation to ethical corporate governance and the Sabane-Oxley Act of
2002. ...........................................................................................................................................8
CONCLUSION..............................................................................................................................10
REFRENCE...................................................................................................................................11

INTRODUCTION
Business laws are those kind of laws that has been formed for setting up of business
organization. These laws are being formed to provide an concrete legal structure that has been
prescribed with certain guidelines towards business formation. Business laws are there to provide
certain rules and regulation that leads over forming of business. Ethics are that kind of special
code which has been set-up for maintaining of discipline and order within an business
organization. Laws of such nature is there to provide certain guidelines that has been given and is
required to be followed within an organization. In this file two projects that are based on contract
and Sabane-Oxley Act of 2002. First part questions are to be answered as per the given case
scenario and second part contains an name of the case that is in relation to Sabane- Oxley Act
2002.
MAIN BODY
PROJECT-1
Following question is to be answered
Define contract law and describe all the blue prints of a contract
Contract laws are those kind of laws which deals with that kind of transactions that
occurs within the business. Such laws deals with relationship that exists within an organization
and defines certain guidelines that has to be followed by an organization for making an
transaction possible in legal manner. In other words contract laws are those agreements which
are binding to both the parties through explanation of rights, duties of the parties. Contract is
considered to be legally enforceable when it bound to make approval of law. Under contract
there has to be exchange of goods, services, or an promise that has been made between parties.
This can be justified with a statement that all agreements are contract but all contracts are not
agreement. An contract can be of both oral and written form which means that an promise can be
considered as a contract and a written document can also be considered as a contract. Various
elements are there that makes an contract valid that is offer in which an proposal is done over the
contract, acceptance this means when an offer is being accepted by the party, consideration when
both parties agree over the rules and guidelines written in agreement. Legality it means when an
contract is formed as per the laws and no illegal activity is taking place within it.

Explain the court system in relation to the English legal system and advise the parties above
which court action to pursue
Legal system of UK is consists of various kinds of laws that has been formed to deal with
various kinds of crime that is existing within the country. Also legal system has formed various
laws that are related to crime of both criminal and civil nature. To implement such laws in proper
manner system of justice is being formed that consists of courts with various powers. Highest
court of appeal in UK is the Supreme Court which takes all kinds of cases that are being
transferred from lower courts and high court (Fox, Cohen and Adashi, 2019). Second court
where matters are heard that has been transferred or appeal has been made over lower courts
judgement. High court consists of three division in which the first division is of queens bench
that takes only criminal matters and then comes court of appeal that deals with civil matter of all
kind. Another division of higher court is family court that deals with all matter that is related to
marriage and divorce. Then comes bounty courts which deals with all cases that has been
transferred from lower court to it. After this various other courts like juvenile court that deals
with matter related to juvenile, tribunals that are bodies who are being assigned authority for
taking immediate actions against the crime or wrong falling under its jurisdiction. Still
complexity is there within the legal system of UK and is required to be fulfilled to make it
competitive with modern laws.
In the given case scenario there has been an contract laws which is found as the main law
applicable to it. Contract law falls under the category of civil wrong which means that they are
wrong that is civil in nature. So, in this case contract law is applied and in this offer with
acceptance is going to be applied with the clause goods on display in shops because sales offer
has been made by the party and accepted by other party. The proceeding will go in civil court
only.
Advise Hilary as to whether binding contracts exist between herself and each of the following
people: Eleanor, Amy and Olivia
Binding contract is considered to be that kind of legal agreements which exists between
two or more parties that is being enforceable by law. Sometimes these contract are not in written
form. Verbal statement can also lead towards formation of contract only intention should be
there to make such contracts valid. There should be agreement between parties, then there should
be acceptance, then exchange of value should take place. Binding contract is the term that is