Commercial Law Assignment (Doc)
Added on 2020-09-08
8 Pages2578 Words73 Views
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CommercialLaw
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11 The contract has been formed and who were contracting parties?......................................12 Bernard legal position and remedies...................................................................................23 Charleen Legal position and remedies................................................................................34 Damien's legal position and remedies.................................................................................35 The various alternative dispute resolution options available..............................................4CONCLUSION................................................................................................................................5REFERENCES ...............................................................................................................................6
INTRODUCTIONBusiness law encompasses with all legislation and laws which have been developed bythe government in order to protect the property, individual and business. With assistance ofbusiness law various rules and regulation has been imposed within the country which providesproper rights and precise to the business and individual. In addition to this commercial law dealswith the sale and distribution of goods, the financing of credit transaction and negotiableinstrument. In the present assignment, legal position and remedies has been defined for thedifferent situations. Furthermore, significance of commercial law in the different situation hasbeen clearly addressed in this assignment.MAIN BODY1 The contract has been formed and who were contracting parties?As per the given case scenario, Alan is the student of the Kaplan higher education and hedecided to sale his text book “ Introduction to business law in Singapore”It was compulsory textbooks used in the commercial law. Alan has been posted the advertisement for sale his text bookon the Facebook as he has various school friends on the Facebook. On the 1 Nov 2015, Alan hasposted on the Facebook that“ To all my friends who is the student in the Kaplan highereducation I wanted to sale my text book of “ Introduction to business law in Singapore”.In thisbook, notes are written by me which is very useful to get the distinction. The selling prices is$200 and also posted Alan that if anybody wanted to buy this book kindly pay the amount by 5Nov 2015.The contract has been formed on the 1 November 2015 by the Alan with help ofFacebook. There are various friends of the Kaplan higher education who have involved in thiscontract such as Bernard, Charleen, Damien (Akintoye, Renukappa and Lal, 2012). They all arestudent in the Kaplan higher education. While Alan posted his offer for sale book then variousfriends was interested to purchase that book such as Bernard, Charleen, Damien. As per the rules and regulation of the business law, a valid contract is that which canenforceable by law. All the agreement are a contract but all contract are not agreement. In orderto made a valid contract and agreement between the parties there must required some elementssuch as proper acceptance, proper offer, intension to create a legal relationship, capacity to enterinto the contract, free consent etc (Bekkers, Duysters and Verspagen, 2002). In the context ofproper offer and acceptance mean while two or more than two people involve in the valid1
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