Business Law and Ethics: Essential Elements of Contract Law and Remedies for Breach

Business law and
ethics

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
Business law is the obligations and the body of rules which use to have major laws and
the legislation that are being required for the company and the organisations. It enforce different
laws through which the companies use to gain the advancement in order to work efficiently and
in proper way without any breach. This contains several important laws they are like Contract
law, employment law, Intellectual property right, Companies act and many more. Contract law
helps out to maintain an essential body of law through which the parties can enter in an
agreement and it use to comply with different sources in which they can maintain the benefits
and the enforcement of the agreement (Hesselink, 2021). In this essay their will be be brief
discussion about the case scenario with the essential elements and the rights of the parties in the
contract.
TASK
CASE 1
Contract law is the general agreement which is being made between the parties as it
helps out to maintain a mutual agreement that are being related to business and its implications.
When two or more individuals are in concern to complete any task or to enter in an agreement
mutually decides about the obligations (Rödl, 2021). Then they can enforce it with the help of
contract law, as this implicates out the general laws and the terms through which all the company
can maintain their working and the general obligations. In all the agreement it is important to
frame the essential elements, as contract law use to carry major elements through which the
binding can be made they are like:
Offer this is the first and the foremost important element which is mainly that when any
individual wants to make their task completed or want to complete any work accordingly then
when that person use to make an offer in front of any other person as an invitation to treat then it
amounts to offer, it is being given by the offerer to the offerree which is majorly an invitation to
complete any work (Mak, 2020).
Second is Acceptance, which is the mere agreeing on the invitation that is being given by
the offerer for completing the task that is being framed for them. The acceptance can be in