Case Study on Business Law Assignment Solved

Added on -2021-02-21

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Table of Contents1 4 step process: Element of agreement......................................................................................32 Whether remaining formation elements of intention and consideration satisfied....................4
1 4 step process: Element of agreementSTEP 1: Identification of legal issueIt can be identified from case that there is no legal contract made between Rick and cliff.They both are doing business as family member. The legal issue identified here is formation of avalid contract between both rick and cliff considering all elements of legal agreement so that avalid agreement can be formed (Pisacane, Murphy and Zhang, 2016). From case study it can besaid the main issue in this case is Rick has sent e mail to cliff regarding buying of tour packageto Los Angeles. Cliff has also agreed on price negotiated by Rick and asked him to revert backtill Wednesday noon. But due to some issue with his landlord Cliff is not able to have access tohis office. Due to this cliff is not able to see e mail of Rick. So, after few days cliff sees mail butnow he does not agree to offer package on quoted price of $10700 for original dates. But Rickhas already paid amount with credit card and can not reschedule tour. Now cliff has offeredanother package for next year to for price of $11800. Thus, the legal issue in this case is breach of contract between Rick and cliff. So, there isbreach of contract between two parties. Cliff is offering new package at discounted rate but Rickcan not reschedule his tour. Thus, an issue is raised regarding providing of package at priceoffered earlier. Also, Rick has payed tour money in advance. Hence, whether Cliff is liable tooffer tour services at described schedule or not. Additionally, is it right for cliff to offer new tourpackage to Rick. STEP 2: Rules of law relevant to issues or principles of law with reference to relevantauthorityThere are many principles of rules of law that plays a vital role in formation of legalcontract considering all the conditions, liabilities, agreement, considerations and many more.Agreement is a legal contract that binds both the parties in a legal bound which helps them tofulfil their liabilities and responsibilities towards each other (Kaplow, 2016). A written contractis important as it helps in fulfilment of legal liabilities for both the parties involved in theprocess.There are three most important elements based on which a contract is bind i.e. intention,consideration and agreement. Intention refers to offering of services and binding to enter incontract. Consideration is made after intention means to create legal relations with other party. Itis a promise made by parties. It may include things such as termination of offers, contract in

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