Corporate Law Case Study (Doc)

Added on - 29 Apr 2020

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Running head: CORPORATE LAWCase StudyName of the student:Name of the university:Author note
1CORPORATE LAWTable of ContentsCase study 1..........................................................................................................................................2Issue:.................................................................................................................................................2Rules:.................................................................................................................................................2Application:.......................................................................................................................................2Conclusion:........................................................................................................................................3Case study 2..........................................................................................................................................3Issue:.................................................................................................................................................3Rules:.................................................................................................................................................3Application:.......................................................................................................................................3Conclusion:........................................................................................................................................4Reference:..............................................................................................................................................5
2CORPORATE LAWCase study 1Issue:The main issue of the case is to determine whether an offer can be revocable once, it isaccepted or not. In the present case, it has been observed that Janice had made a contract toTim regarding a painting and a day before; she wanted to cancel the same with certain maliceintent.Rules:The present case is based on the general principle of offer and acceptance. The offer andacceptance are the primary step regarding a contract (McKendrick, 2014). If a party wants tosell a particular thing, he makes an offer. When the other party agreed to the offer, he acceptsthe same. In this process a purchase agreement be regularise. Contract is binding in natureand the base of the contract should be legal. It has been stated that when a contract is made,consent of the other party is necessary to terminate the same. InByne & co. v Leon VanTienhoven (1880), it has been observed that if a contracting party changes its mind regardingthe offer, he should have to communicate with the other party about his willingness. If theconsent is not being obtained, the affected party can sue the other for breach of contract andclaim damage regarding the same (Cartwright, 2016).Application:In the case, it has been observed that contract regarding the painting has been made betweenJanice and Tim and afterwards, Janice wanted to terminate the contract without the consent ofTim and chalk out a strategy to avoid the same. She wanted to establish another company andthrough the same, wanted to avoid the contract with Tim. It can be stated that the
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