Business Law Assignment

Business law
Assignment
Running Head: BUSINESS LAW ASSIGNMENT 0
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Student’s Name

Business Law Assignment 1
Contents
Issue.................................................................................................................................................2
Rules................................................................................................................................................2
Application......................................................................................................................................5
Conclusion.......................................................................................................................................6
Bibliography....................................................................................................................................7
Books/Journals 7
Case Laws 7
Other Sources 8

Business Law Assignment 2
Issue
In the provided case, a person named Manisha wants to know about her legal rights. Therefore,
the issue of the case is to check that whether Manisha owes any right in against of her mother. If
yes then what rights are these?
Rules
A contract is a legal agreement, which consists of a set of promises for both of the parties and
these parties are bound to perform those promises in favor of each other1. These promises are a
consideration for each of them. Parties can develop a contract in verbal as well as in written
mode. To avoid all the possible disputes parties to a contract are advised to make a written
contract. Before contracts, Parties often negotiates on the subject matter and other terms of a
contract. These negotiations are known as pre-contractual negotiations. Such negotiations
include the identity of subject and intention of the parties in general. Some factors are specified
under contract law, which needs to be there in every valid contract. The studies of these factors
are necessary to check that whether an agreement is a contract or not. If anyone or more than one
factor would be missing, then the transaction will not be considered as contract and parties will
not able to use their legal rights. Moving the focus in the direction of these factors, this is to say
that the same are mentioned hereunder.
An offer is the very first step of a contract without the existence of which a contract cannot be
assumed. An offer is a presentation of someone’s will where he/she wants another person to do
or not do something for him/her in exchange of particular consideration2. As mentioned above
1 Hugh Collins, Standard Contract Terms in Europe: A Basis for and a Challenge to European Contract Law
(Kluwer Law International B.V., 2008).
2 Max Young, Understanding Contract Law (Routledge, 2009).

Business Law Assignment 3
that a contract can be in oral as well as in written format, the same goes for the offer. According
to the decision given in the case of Harvey v Facey 3, for a valid offer, the same must consist an
intention to bound the offeror. In addition to this, an offer must be clear and certain4. It means the
same must not contain any unambiguous term. Making an offer is not enough but the same must
come into the notice of offeree in order to make the same enable to accept the offer. Only a
person to whom an offer has been made can accept the same5. It means only an offeree can
accept the offer made by the offeror.
Another important element of a contract is a consideration which can be monetary as well as
non-monetary. However, the same must be something, which has value in the eyes of law.
According to the decision of the case of Chappell v Nestle6 , consideration needs to be sufficient,
but the same is not required to be adequate7. For a valid consideration, it is necessary that the
same move from the offeree. It means the offeree must pay the consideration. If a third party
pays the same on behalf of offeree then such offeree cannot enforce the contract in against of
offeror.
Further, parties to the contract must have an intention to create a legal relationship with each
other and to bind each other in a legal manner8. This element is the core of a contract. Not every
agreement can be enforced in the courts. For instance, A may have an agreement to attend B’s
wedding. In such a situation, it is a moral duty of A to attend the wedding but not a legal duty. It
means if the same would not attend the wedding, the other person B will not be able to bring any
3 Harvey v Facey [1893] UKPC 1
4 Nancy L. Sundt, Keep Your Clients, Collect Your Receivables: Collection Tools & Techniques for Lawyers and
Law Firms (Wordclay, 2008).
5 Kenneth W. Boyd, CPA Exam For Dummies (John Wiley & Sons, 2014) 118.
6 Chappell v Nestle [1960] AC 87
7 Jill Poole, Textbook on Contract Law (OUP Oxfrod, 2012).
8 Australiancontractlaw.com, Formation of contracts | Intention to create legal relations 2018 (07 January 2019)
https://www.australiancontractlaw.com/contractlaw/formation-intention.html#intentiondomestic.>.