Business Law and Ethics: Case Scenario and Remedies for Breach of Contract

Business Law and
Ethics
(Task 1)

TABLE OF CONTENT
INTRODUCTION...............................................................................................................................3
MAINBODY........................................................................................................................................3
CONCLUSION....................................................................................................................................5
REFERENCES....................................................................................................................................6

INTRODUCTION
Business law is important set of rules which are being regulated in all the
organisations in order to frame proper function of business organisations and to maintain
growth and advancement by implementing legal implementations and laws. It helps to give
all the transactions in agreement to be implemented in a proper manner. Some of the
important laws which are being covered under it our company law, contract law, employment
law, IPR etc. Contract law is a mutual agreement made between two or more individuals in
order to perform any agreement which is being enforceable by law. This used to have
important remedies given by court for the breach of contract (Qanavati and et. al., 2020). This
report will deal with a case scenario with all the essential elements that are being available in
the contract and their general rights with remedies.
MAINBODY
Case Scenario
Contract law is mutual agreement meet between two or more individuals or parties in
order to complete any task into bind themselves in contract. This used to cover obligations
which are being enforceable with the law and are also complied with all the legal binding
made in it. Essential elements made in contract without which no agreement can be framed
as legal are like, firstly offer should be given by one individual which will be treated as an
invitation to treat to perform an agreement or to enter in a contract. This is an invitation given
by one party to another party to bind in a contract. Secondly acceptance which is the mere
assent given by an individual for the offer which was being given to him earlier. It can be
expressed and implied or can also be given with the help of mails. When the acceptance for
the invitation to treat which was being given by the or free then this element is being fulfilled.
Thirdly consideration used to be the most important set of agreement as it is the value which
is decided between the parties in order to complete the agreement or two for the performance
of contract which was being made between them (van der Sluijs, 2019). The parties will have
to fix a particular amount in order to complete the task or deed. There cannot be any kind of
contract without consideration. Fourthly legal obligation to do so is an important in final
element of contract as when both the parties are entering in a contract, they should have a
legal intention towards that agreement made between them. No consent will be excepted if it
is given by fear or threat. Both the parties will have to agree with proper and clear intentions.