Contract Law Assessment - Desklib

CONTRACT LAW

Table of Contents
INTRODUCTION ..........................................................................................................................2
TASK...............................................................................................................................................2
Question1- There is a concluded agreement between the parties based upon the information
provided by David?.....................................................................................................................2
Question 2- Are there any options in terms of restoring both parties to the position they were
in before Contracting?.................................................................................................................5
CONCLUSION ...............................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
With the emergence of Business the need for its regulation and conduct was also felt thus
laws governing contracts and agreements were developed. Contract law of UK governs the
legally binding agreements in the country. A contract law binds various businesses and
organisations with promises and obligations created by the statement of terms and facts between
the parties. These are thus enforced by the law of Contracts which duly protects the interest of
the parties. A contract takes place when something of value is exchanged. With the creation of
this law, it also gave rise to legal obligations which are essential to be followed on the part of
parties. This statute law thus governs the environment of a business where contracts happen
between people who as subjects are governed by the act. Reaching an agreement is the primary
requisite of making a contract1. The following project will discuss and explain in detail about
Contract, its essential elements and conditions which are needed for the contract to be formed,
about the rights and responsibilities under the contract and the remedies for breach of contract.
TASK
Question1- There is a concluded agreement between the parties based upon the
information provided by David?
Contract:
An agreement between two parties is known as a contract. Obligations and
responsibilities arise when a contract is enforceable by law. A contract is said to take place
between the parties when one party makes the offer and the other party accepts it. A contract
makes a person do something or refrains someone from doing something. There is ease in
governing any business environment when contract law rules and procedures are followed. The
business operations can be effectively carried out when there is awareness about the conditions
and elements of contract formation2. Thus if a party fails to keep up with the promise in the
agreement, the other party gets restoration on the part of fulfilment of the promises of the
1 'Contracts. Remedies On Contract. Breach Of Alternative Promises' (2018) 42 Harvard
Law Review
2 'Damages: Breach Of Contract: Measure Of Damages' (2018) 9 Michigan Law Review