Business Law and Ethics: Essential Elements and Remedies in Contract Law

Business law and
ethics
(Individual Report)

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
Contract law................................................................................................................................3
Essential Elements Of Contract..................................................................................................3
Case Scenario 1...........................................................................................................................4
Rights of contract........................................................................................................................4
Case Scenario 2...........................................................................................................................5
Remedies in contract law............................................................................................................5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Business law is the important areas which promotes the strategy in which they can
outgrow all the challenges and also maintain the performance of the organisation, as according to
which they can evaluate smooth functioning of the company. It use to generate all the methods
and the ways in which the company can make all the legal formation through which the
strategies can be made, as business law used to have different variable laws like employment
law, IPR, companies act, contract law etc. when the individual decides mutually to enter in an
agreement they will have to make an legal obligation with the agreement enforced under it so as
to make the work legally binding to all (Pierce, 2018). This report will cover a case scenario
with general elements and the rights and remedies in the contract law.
TASK
Contract law
This is a general agreement which is being made between the parties as in order to create
a binding affect and also to enforce some general contract with which the parties can make all
the required areas and legal essentials to be satisfied. It also helps the parties to protect their
rights and to avoid any kind of breach that can happen in the contract. It usually applies on two
or more individuals who are ready to enter in an agreement and to make a contract which will be
enforced between the parties (Siliquini-Cinelli and Hutchison, 2019).
Essential Elements Of Contract
In order to complete a contract, it is important to complete four important elements that
are needed to be fulfilled so as to create a binding effect in between and the same has been
mentioned below: Offer- It is an invitation of treat which is been affixed by one of the party as for
completion of any task which will help out to maintain the growth and the welfare.
usually the offer made by party to complete any task with the help of another person or to
make any important or wilful deed to be completed. Acceptance- This generates an agreeing consent by the other party for the invitation to
treaty made among them. As this serves out to promote the consent of the another party
for the allotted work made between them. The consent given by the individual for all the