Breach of Contractual Relationships and Remedies in Business Law
Verified
Added on 2022/12/30
|7
|2007
|37
AI Summary
This document discusses breach of contractual relationships and the remedies associated with it in business law. It provides advice on possible remedies for Raymond and explores the legal positions in different scenarios. The subject is Business Law.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Business Law
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of Contents INTRODUCTION..........................................................................................................................3 MAIN BODY...................................................................................................................................3 Breach of Contractual relationships and the remedies associated with the same.......................3 Advice provided to Raymond on the possible remedies that can be availed by him..................3 Would there be a difference in answer if Samantha had paid £200 to Raymond three weeks prior and would Raymond agree to the same?............................................................................4 What would be the legal position if Raymond had requested a £400 payment from Samantha as full and final settlement?.........................................................................................................5 Advice that can be given to Samantha........................................................................................5 CONCLUSION...............................................................................................................................6 REFERENCES................................................................................................................................7 Books and Journals.....................................................................................................................7
INTRODUCTION Business laws is defined as the laws that regulate the standard of enterprise actions and functions in the several nation of company undertaking. An company is awaited to compel with the laws of business so for contain its enterprise dealings and functions swimmingly and finely in its various marketplace demesne . Morality aredefined asthe the most and much important and salient component of structure social control as they alleviate in leading and directing the actions and the tag of doings of workers and manpower of the company(Cowton, Dempsey and Sorell,2019).Thisismuchneededforthecompaniesfunctiontointegratedethical argumentation and process in its functions because to boost the operations of the enterprise in an honourable and corrected mode in the market.This writing focussing on the lawsuit script that incorporates written agreement law and the redress subordinate with similar in lawsuit of the rift of undertake. MAIN BODY Breach of Contractual relationships and the remedies associated with the same. Case Scenario:Raymond worked have taken a part time job in a firm with some accountants in taxation department. Along with this he own a solely consultancy business which is completely managed and controlled by him. In the meantime, Raymond got into a contract with an struggling artist Samantha and agreed to prepare drafts for last three years for an earning amount of £800. After the completion of the work, Samantha informed Raymond about his inability to pay the pre decided amount but could only pay him an amount of£200 as an settlement matter(Hunter, 2016). Raymond agreed to this and accepted the amount. Later on, Samantha sold her latest painting for£20,000 as result of her increased appreciation of her effective work in the marketplace. Also, Raymond got to know about this from the newspaper and he decided to get his remaining due amount of £600from her. Advice provided to Raymond on the possible remedies that can be availed by him. Contract laws are designed with a purpose of ensuring fairness and transparency in the monetary transactions performed during the course of the business organisations. The contracts are considered as a two way agreement between both the parties who have agreed to enter into contract with specific condition bounded on them. The violation of the contract by any one of the party will results in breach of contract. Moreover, Remedies can be defined as the redress-al
options available for the suffered party to claim the compensation of the causes affected to him. In relation to this, the contract provides numerous remedies for the suffered party and Raymond can use the following remedies: Damages:This remedy is applicable in case of breach of contract by any one of the parties who have entered into a contract(Mboga, 2017). This act as a weapon that protects the interest of the suffered party against the damages and consequences caused due to the other party. The damage is compensated by the other party in monetary terms like the party to contract provide the compensation for the cause of the breach of contract. This remedial alternative protects the right of the consumer against any injustice or injury to be suffered to them. Recession of contract:If any one of the party refuses to perform their respective as mentioned in the contract, then the other party can take action against the party by either punishing the party in front of law or by rescinding the contract. Repudiation:It is a remedy provided to the suffered party as a solution to loss caused due to the other party either by way of demanding the compensation or by providing the right to dissolve the contract. Specific Performance:In this the court order the party who have breached the contract to complete their obligations mentioned in the contract. Would there be a difference in answer if Samantha had paid£200 to Raymond three weeks prior and would Raymond agree to the same? In this case scenario, Samantha have paid £200 to Raymond three weeks prior the closure of the contract. Under this circumstances, the contract is considered to be null and void due to the acceptance of the £200 amount by Raymond(Murphy and Murray, 2017). As the amount given by Samantha is considered as the final settlement of the contract which is closed by both the parties fairly and smoothly. Raymond must have understood the inability of Samantha to pay the full amount prescribed in the contract. As she was not in the position to pay that is why she have paid only £200 to him. Also, with the acceptance of the amount by Raymond, there will be no question of breach of contract from Samantha's end as she have clearly mentioned her perspective. The another thing is that Raymond must not have agreed to accept the amount of £200 from Samantha as full settlement. He must have raised the question at that time only. Also, he should not have completed the work allotted to him where he is not getting
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
payment for it. In addition to this, he can also sue the other party with the claim that Samantha have changed the terms and conditions of the contract in the midway with his disagreement to accept that. Lastly, Raymond must have left the work in the middle after Samantha have told him about his inability to pay the full amount for the work mentioned in the contract(Nguyen and Tran, 2018). What would be the legal position if Raymond had requested a £400 payment from Samantha as full and final settlement? Inrelationwiththegivenscenario,thedamagescausedthatwillbetakeninto consideration which explained that the amount can be claimed with the help of numerous reason such as Bargain, reliance loss, discomfort, disappointment or inconvenience. In the current case, reliance loss have been considered which states that the damages associated will place the claimant in a position to compensate for the loss before the contract of law. In order to explain this, the case of Anglia Television vs reed have been undertaken. According to this case, Reed was working forAnglia Television and unexpectedly Reed took an exit from the show due to which Anglia was unable to find any replacement foe the same(Popescu, 2017). Due to which Anglia had to withdrew the play which have incurred an expense of amount£2,750. In this relation, the reliance loss is applicable which states that Anglia deserve an compensation for the loss incurred on the basis of the breach of contract form the Reed's side. Anglia can ask for the recovery amount from Reed and if Reed disagree to pay then Anglia can take Reed to the court of law with the accusation of breach of contract. Advice that can be given to Samantha One leading advise and proposal that might begives to Samantha to prevent and keep herselfin these fortune and conditions, shemight be provide many assortedoptions share to the organisationthat canmove and willhave consequence in the nothing and empty of the active undertake(Bellemare and Lim, 2018).This scheme ofgiving and share an offer on already active written agreement will cause to the liquefaction of the latter written agreement and credence of the current substance . There are one more choice accessible to Samantha and that is,she have to be cautious in respect to going into a written agreement with the another person or company. She have to compel to her prospect create to the further organisation and should not give up at the end moment of time. These determination of not giving the total amount cause to harmful impacts on the representation of the company. Soto hold up and control a groovy
reputation and to avoid and stay far from unneeded judicature and lawful string, she should evaluate before entering towards the this written agreement and increase a penetrating about her thatwhether Samantha willbe capable to set the status and situations integrated in the written agreement(Solove and Citron, 2017). If yes, then Samantha will coming into the written agreement. In lawsuit , if she cannot accomplish the status and situations connected with the written agreement, Samantha should not coming into the new one contracts. CONCLUSION From the above information it has been concluded that in to defend the organisation and partiesfrom some kind of partial way and activity, the authorities has diode definite judicial guidance and process and had create it mandatory for the enterprise company to displace its transaction within the aforesaid. The law of Contract is one judicial social control that escort the structure and manners, in that enterprise organisation can trade in the industry surroundings and discourtesy or misdemeanour of some of the measures declared in the aggregation can causeto the judicial activity and actions towards the non payment organisation and affair who have been gratify in working the similar . Legal remediation also show a critical function in developing the involvement of the organisation in the company as they show a opportunity garrison he enterprise organisation to assertion what they deserve.
REFERENCES Books and Journals Bellemare,M.F.andLim,S.,2018.Inallshapesandcolors:Varietiesofcontract farming.Applied Economic Perspectives and Policy,40(3), pp.379-401. Cowton, C., Dempsey, J. and Sorell, T. eds., 2019.Business Ethics After the Global Financial Crisis: Lessons from the Crash. Routledge. Hunter, J., 2016.'Deficient in Commercial Morality'?: Japan in Global Debates on Business Ethics in the Late Nineteenth and Early Twentieth Centuries. Springer. Mboga, J., 2017. ORGANIZATIONAL ETHICS: MILLENNIAL VIEWS ON BRIBERY AND CONDUCTINGBUSINESSINEMERGINGMARKETS.EuropeanJournalof Economic and Financial Research. Murphy, C. and Murray, D., 2017. After the Crash: Examining Pedagogical Approaches to Teaching Business Ethics.Irish Business Journal,10(1), p.2. Nguyen, L. D. and Tran, Q. H., 2018. Working adults and personal business ethics in South East Asia: A comparative study in Thailand and Vietnam.Public Organization Review,18(2), pp.159-174. Popescu, D. I., 2017. Social Responsibility and Business Ethics: V. The Faces of Social Responsibility.Quality-Access to Success,18(161). Solove, D. J. and Citron, D. K., 2017. Risk and anxiety: A theory of data-breach harms.Tex. L. Rev.,96, p.737.