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LST2BSL - Introduction to business law and Ethics

   

Added on  2019-10-30

8 Pages1596 Words214 Views
Running head: BUSINESS LAWSBusiness LawsName of the studentName of the universityAuthor note
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1BUSINESS LAWSAnswer 1Issue Whether the leather being all natural is a term of the contract or not Rule The contents of an agreement are known as a clause or a term. There are various terms present ina contract. The primary terms of the contract include the price, the subject matter such as thedescription of goods and services. Statements which are made in relation to negotiation of an agreement can be a representation or acontractual term. The remedy and appropriate cause of action would only be determined if it isknown that a clause is a representation or a contractual term. In case there is a breach ofcontractual term a claim form breach of contract can be brought by the aggrieved party. On theother hand if a term is a representation which was not true the party can make a claim formisrepresentation. For the purpose of deciding a clause is a term or a representation four factors are looked into bythe courts. 1.Expertise of parties 2.Time of incorporation 3.Importance of the clause 4.The parole evidence rule
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2BUSINESS LAWSIn the case of Oscar Chess v Williams1it was provided by the court that if the representor hasmore expertise the clause is a term of contract, whereas of the Representee has more expertisethe term is a representation. In the case of Ecay v Godfrey2it was held by the court that where the importance of thestatement has been indicated by the person to whom the representation is made the statement is aterm of the contract. In the case of Routledge v Mckay3 it was ruled by the court that if a long time has elapsedsince the statement was made and the contract was formed it would be considered as arepresentation. Where there is a written contract only the terms which have been incorporated are considered ascontractual terms as stated in the case of Application In this case the importance of the statement had been notified by Peter to Cobbler suppliers bystating that many vegan clients are conscious environmentally. Not much time had elapsed between the telephone conversation when the statement was madeand the email where the contract was formed as it was done the same of the afternoon. Both the parties have same expertise in relation to the subject matter of the letter1 [1957] 1 WLR 3702 [1947] 80 Lloyds Rep 2863 [1954] 1 WLR 615
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