Business Law and Ethics: Case Studies on Remedies and Rights in Contract Law

Business Law and
Ethics

TABLE OF CONTENT
INTRODUCTION.......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
Case Scenario 1.......................................................................................................................................3
Case scenario 2........................................................................................................................................4
CONCLUSION...........................................................................................................................................6
REFERENCE..............................................................................................................................................6

INTRODUCTION
Business law is the study of all the important civil laws that Helps out all organisation to
maintain smooth functioning of business and also to implement rights and regulations on the
companies. It mainly covers Contract law, IPR, employment law etc. Contract law implicates out
an agreement that is being made between the parties which is in enforceable in them and it
provides essential elements between the parties (Alden,2017). In this report there will be a case
study for providing the remedies that are being available in contract law and all the rights and
duties of parties in contract
MAIN BODY
Case Scenario 1
Contract law provides the agreement that is made into parties in order to frame a legally
binding agreement in enforceable between them. When the party mutually agrees to bind in an
agreement there is being made a contract. This mainly provides individuals to get protection
while coming in an agreement as in order to frame a contract there should be four essential
elements that should be fulfilled they are as follows:
 Offer: When one party proposes an invitation of treat to another party in order to come in
an agreement that will be tends to be a contract. It mainly has an offerer and offree.
 Acceptance: When the offer is being made by one party and the other party except that
offer that will amount to acceptance it can be expressed or implied (Hernández-Bretón,
and et. al., 2021).
 Consideration: It is mainly the amount or the value which is being decided between the
parties in order of exchange of the contract that is being performed, as no contract is
being fulfilled without consideration.
 Legal obligation to do: There should be a legal intention and motive while coming in a
contract as both the parties will be legally binding once they agree for coming in a
contract so the contract will thereby be framed between the parties.
Counter offer is an offer that is being given by another person who at the time of negotiation
of consideration can’t thereby make any other offer to the person in order to fulfil that contract.