Business Law and Ethics

Business Law and Ethics

Table of Contents
INTRODUCTION...........................................................................................................................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?.........................................................................................................5
What advice do you have for Samantha?....................................................................................5
CONCLUSION ...............................................................................................................................6
RFRENCES.....................................................................................................................................7

INTRODUCTION
Business law are that laws which makes an business organization to establish itself
according to law formed by a country. Such laws provides concrete framework which makes
organization to perform its functions in legal manner. Such laws has been helping in making an
organization to achieve its goals and objectives in appropriate manner. Ethics are considered to
be that rules and regulations that helps an organization for making workplace attain better
business environment through maintaining of discipline and order. Scope of both the laws covers
various aspects that is related to business. Nature is dynamic of both the laws as they cover
business environment and makes improvement within it. In this essay contract law is to be
explained in relation to breach of contract and remedies regarding it. An case scenario has been
given with relevant questions required to be answered.
TASK
PART1(Breach of Contractual Relationships and Remedies)
Case Scenario: Raymond working as part-time in a firm of accountants within taxation
department. He also holds small constancy business for which he is the only owner. Also he has
attained specialization in personal taxation advice. Further in the scenario he entered into
contract with Samantha who is an struggling artists that contract was agreed to prepare draft for
last three years for sum of £800. Raymond as per the contract completed the work then Samantha
told that she could only pay £200 as full settlement of debt. Now Samantha paintings began to be
sold at very high price and Raymond read newspaper that Samantha's latest work is been sold at
very high price of £20,000. Now he wishes to claim the remaining balance of £600 from
Samantha (Michaelson, 2020).
Following questions required to be answered regarding above scenario:
Advise Raymond on possible remedies available to him.
Contract laws are those laws which are being formed within two organization or
individual to make sure that all kinds of monetary transactions is done in smooth manner. Such
laws is the basis of an agreement that takes place between two parties. In contract law breach of
contract takes place when any of the parties violates any rule and regulation within given
contract formed between them. Remedies are that law which is provided in order to make claim