Business Law and Ethics

BUSINESS LAW AND ETHICS

Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Blue prints and Law of Contract..................................................................................................3
System of court in relation with English legal system................................................................4
Advise Hilary as to whether binding contracts exist...................................................................5
Various remedies that is available to the parties.........................................................................6
REFERENCES................................................................................................................................6

INTRODUCTION
Laws for business and ethics are those measures that bind the business on legal terms and
with ethics in their culture. There are many various factors in laws of business that requires legal
formalities to be fulfilled. On the other hand ethics works on the values and approach of the
difference between things that is right and wrong. There are various laws that are a must for
business to follow and one of the most important is contract law. Other than it this report it will
be described about contract law and its blue prints. Besides that, English legal system will be
explained and whether binding contract exist between Hilary and other people. Also, at last it
will be discussed about remedies available to parties (Pusca, 2017).
TASK
Blue prints and Law of Contract
Contract law binds and governs the enterprise into a contractual relationship. This form
of contract is formed when one business makes an offer and another party easily accepts that
offer. The offer is made in terms of showing the assets of the business so that other party can be
sure about the worth of their money. There are measures that are required in order to get the best
working of the contract such as when it is complied with no resource which makes way to the
court. Other than these parties must be involved in this contract so that it can be assessed that
they are aware and have the full knowledge of the contract with the rules and regulations that are
involved in it. There are laws which set and bind the contract legally such as-
 There must be an agreement between the parties.
 There must be a mutual decision of intention so that contract can be formed.
 Consideration between the parties for the contract must be there (Mutia and Muindi,
2019).
These are the aspects that are must for binding the contract on legal terms. There is
another aspect that is necessary which states that when a person wants to sell a property the
details of the agreement must be formed in writing and all the details must be included in it.
Elements of Contract Law are-