Enterprise Law

Running head: ENTERPRISE LAW
Enterprise Law

ENTERPRISE LAW
Table of Contents
Question 1..................................................................................................................................3
Issue........................................................................................................................................3
Rules.......................................................................................................................................3
Legal Result...........................................................................................................................5
Question 2..................................................................................................................................6
Case Overview.......................................................................................................................6
Rights and Legal Implications...............................................................................................6
a. Lack of Discussion.........................................................................................................6
b. Belief of Topaz as Rough Diamond...............................................................................7
c. Telling Hugh about Pleasing Quality.............................................................................7
d. Assumption on believing it to be Diamond....................................................................8
References..................................................................................................................................9
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ENTERPRISE LAW
Question 1
Issue
Nick had a bad habit of drinking heavily, and his uncle i.e., Frank worked on a plan to
motivate his nephew by offering to pay $1,000 if he totally abstained drinking alcohol for a
time-period of 1 month. Even before Nick was unaware of his uncle’s offer, he signed a
document with the Alcoholics Anonymous (AA) which stated that he would put his utmost
effort to completely stay away from alcohol for one month. Committing himself towards
succeeding to do so as promised, he failed to receive the payment of $1,000, which was
offered by his uncle since he seeks to find a legal way, through which he could claim this
price as his uncle possessed the same motive.
Rules
Based on the legislations of the Contract Law in Australia, it can be stated that one of the
major issues being faced by both the parties comprise the lack of essential elements when
agreeing upon meeting a contract between the two parties. These elements can be cited as an
offer made by a party, acceptance of the contract by the other party, similar intentions of the
two parties to develop a legal relationship, and consideration of money.
A legal issue as observed in the current case scenario of the two parties i.e., Nick and his
uncle (Frank) can be cited as the lack of legal agreement between the two parties i.e., Nick
and Frank. This can be referred as the major issue, which can prohibit Nick from claiming the
fees, which would be offered by his uncle only if he had avoided heavy drinking habits for a
month (AustLii 2002).
Another legal issue which is observed in the case scenario is the lack of awareness by Nick
regarding the offer proposal of paying him $1,000 if he would abstain from the consumption
of alcohol for 1 month.
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