Corporation and Enterprise Law | Case Study

Corporation &
Enterprise Law
Running head: “Corporation & Enterprise Law”
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“Corporation & Enterprise Law” 1
Contents
Case Study 1................................................................................................................ 2
Issue........................................................................................................................ 2
Rules........................................................................................................................ 2
Application................................................................................................................. 4
Conclusion................................................................................................................ 5
Case Study 2................................................................................................................ 5
Issue........................................................................................................................ 5
Rules........................................................................................................................ 5
Application................................................................................................................. 6
Conclusion................................................................................................................ 6
Question 3.................................................................................................................... 6
Issue........................................................................................................................ 6
Rules........................................................................................................................ 6
Application................................................................................................................. 7
Conclusion................................................................................................................ 7
References................................................................................................................... 8

“Corporation & Enterprise Law” 2
Case Study 1
Issue
Does a binding contract exist between Graham and the shop?
Rules
A contract refers to a legally binding agreement. To check the existence of valid
contract certain some elements are required to study. These elements are essential to
the contract. If any one or more essential is missing in a transaction, the same cannot
be turned into a contract. These essentials are given as below:-
 Offer- This is the very first element of a contract, which refers to the
proposal/promise which one party makes to another in exchange for another
party’s certain performance (upcounsel.com, 2020). The terms of an offer
must be certain and the same must be communicated to the offeree. An
invitation to treat seems similar aspect to the offer but has different
implications. The study of this term is important as it affects the development
of contracts. The reason behind the same is that an invitation to treat cannot
be accepted as an offer. Such an invitation to treat makes the invitation to
offers. In reply to such an invitation, another party must make an offer. In
order to differentiate the offer and an invitation to treat, the decision of some
cases can be used. For instance, in the case of “Fisher v Bell [1961] 1 QB
394”, it was decided that articles available in the shop do amount to an
invitation to treat and to make an offer, one of the party need to communicate
with another party (lawcasesummaries.com, 2020).