Business Law Assignment : Type of Legislation
Added on 2021-02-19
12 Pages3342 Words29 Views
Case study
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3MAIN BODY ..................................................................................................................................31. A) Definition of contract and identification of the requirements for entering into validcontract .......................................................................................................................................31. B) Determining whether Ringo is liable for making payment to Paul ...................................52. Addressing the criteria which Jerry need to satisfy in an action for negligence ...................53. Identification of business mediums available to Ringo and His friends John and Yoko .....74. Significance of identification of employment status of workers being being recruited byorganisation.................................................................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTION Business laws is the type of legislation which governs the way an organisation will beestablished as well as managed. It is the type of norm which regulates the business activities offirms. In context of legislative system in England and Wales , there are number of legislationswhich are required to be followed by the enterprises these are contract law, employment law,company law etc. It is very much essential for companies to follow all these legislation in orderto run their business in systematic manner. The contract legislation in legislative system ofEngland and Wales governs as well as regulates the way valid agreement can be formed byparties. It also provides certain remedies which can be used by parties in relation to breach ofcontract act.The report have focus on identification of requirements for forming valid contract. Incontext of given case scenario , study emphasizes on determining whether Ringo would beresponsible for payment to Paul. MAIN BODY 1. A) Definition of contract and identification of the requirements for entering into validcontract .In relation to the contract law in legislative system of England and Wales governs thecontractual or commercial relationship between parties. It highlights the duties as well asresponsibilities of parties in relation to fulfilment of the terms and conditions in agreement. Incontext of contract law in legislative system of the England and Wales, contract is basically apromise made by the parties which enables courts to make judgement. According to the contractlaw in England and Wales, contract is basically a official agreement. Contract legislation statesthat contract could be written or oral using formal or informal terms (Pargendler, 2018.). It isvery much essential for parties to enter into a valid and legally binding contract, as it will helpthem in getting the remedies in case of breach of any of the term in agreement by other parties.Entering into a valid as welt as legally binding agreement is also very much important , as itenables parties to get ensure that all the obligation as per the terms in the contract will befulfilled by other party. It also aid parties in preventing the losses in case other party fails to fulfiltheir duties according to the agreement. The parties in given case scenario in order to enter intoa valid contract need to fulfil following requirements these are :
Offer : it is considered to be as one of the most important but basic requirement which areneeded to fulfil by parties if they intend to enter into a legally binding contract. According tothe contract law in England and Wales , one party need to make valid offer to other. In relation tothe t5erm offer in contract Law, the involvement of minimum two parties is very much essential.In addition to this, both the parties must have capability to enter into a valid agreement. If offermade by one party is accepted by other then contract is considered to be as valid. In relation tothe given case scenario, Paul has offered his farther help mowing the lawn at home in exchangefor 10GBP and the same has been accepted by Ringo (Farther of Paul), therefore, the contractbetween both the parties is considered to be as legally valid. Acceptance: The other crucial requirement which are required to be fulfilled by parties inrelation to entering into a valid contract. It is very much important for party making the offer tohave clear terms and conditions in agreement, as offer will be accepted by other party if theyare satisfied with the content in agreement. In context of given case scenario, offer made byPaul has been successfully adopted by Ringo. As offer is accepted by other party it isconsidered to be as valid agreement.Considerations: It is considered to be as other requirement which are required to be consider byother party in order to form valid contract. Consideration can be referred to as mutual consentof parties to perform specific duties as well as responsibilities in relation to gain certain benefit.It is very much essential for both the parties to have have mutual consent related to the termsand conditions in agreement (Cann, 2018.). In context of given case scenario, both Paul andRingo has shown their mutual consent related to the condition in contract that Paul will assisthis farther and in exchange will get 10GBP. Subsequently, Paul mowed the lawn as promised.Therefore, it is considered to be as valid agreement.Intention to enter into a legal binding contract : as p0er this requirement of both the partiesneed to have intention of entering into a legally binding contract or agreement. If one of the partydoes not have intention to form legally enforceable contract then in such case contract isconsidered to be as not valid. In context of given case study, there is contractual relationshipbetween farther and son that is Paul and Ringo , if in case farther passes away then his soncan have possession of the property which is left by his farther.Certainty: Clear specification of the terms and condition is very much important. In relation togiven case scenario, A party that is Paul while making offer to his father need to clearly specify
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