Business Law: Breach of Contractual Relationships and Remedies
Added on 2022-12-30
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Business Law
Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
PART1(Breach of Contractual Relationships and Remedies).........................................................3
Advise Raymond on possible remedies available to him.......................................................3
Would your answer be any different if Samantha had paid Raymond the £200 three weeks
earlier than the debt was actually due, and Raymond had agreed to this?.............................4
What would be the legal position if Raymond had requested a £400 payment from Samantha
as full and final settlement?....................................................................................................5
What advice do you have for Samantha?...............................................................................5
CONCLUSION ...............................................................................................................................5
REFRENCES ..................................................................................................................................7
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
PART1(Breach of Contractual Relationships and Remedies).........................................................3
Advise Raymond on possible remedies available to him.......................................................3
Would your answer be any different if Samantha had paid Raymond the £200 three weeks
earlier than the debt was actually due, and Raymond had agreed to this?.............................4
What would be the legal position if Raymond had requested a £400 payment from Samantha
as full and final settlement?....................................................................................................5
What advice do you have for Samantha?...............................................................................5
CONCLUSION ...............................................................................................................................5
REFRENCES ..................................................................................................................................7
INTRODUCTION
Business law these are those laws which helps in formation of business organization as
per the laws that has been formed by a country. Laws of such nature helps in making a
framework within the limits of laws specified for it. In it provisions has been set which makes
organization to achieve its goals and objectives. Ethical code of conduct are those rules and
regulations that make business organization develop disciplines and order within business
environment of an organization. Both the laws hold wider scope as they deal with internal and
external working of an organization. Nature is dynamic as it covers different elements which
provides legality within business.
TASK
PART1(Breach of Contractual Relationships and Remedies)
Case Scenario: In this case Raymond has been working part-time in a firm as an
accountant in taxation department. Further an small business consultancy is run by him and he
holds speciality within taxation advice. As per the case Samantha and Raymond has entered into
contract whereas Samantha is a struggler artists for this draft has been formed over last three
years with amount to be paid of £800. Raymond as per the contract did his work. Samantha told
that she could only pay £200 as full payment over debt that has been left out. Later paintings
made by her were sold for higher price of £20,000. This was red by Raymond in newspaper
about the selling of her last work. Now he wishes for claim upon balance left out that is £600
from Samantha.
Following questions required to be answered in relation to the above case scenario:
Advise Raymond on possible remedies available to him.
Contract laws are the laws which deals with formation of agreement between two parties
or organization in order to make sure that all transactions is performed as per law prescribed for
it. According to these laws an agreement is formed between parties which should consists of
certain elements to make it contract (Gaitán, Herrera-Echeverri and Pablo, 2019). These
elements are offer, acceptance, consideration and legality. If any of the element is absent then
contract is not going to exists. Majorly within contract wrong committed is breach of contract
which happens when an party has failed to perform obligation given under contract. In order to
deal with breach various remedies has been mentioned within contract that are as follows:
Business law these are those laws which helps in formation of business organization as
per the laws that has been formed by a country. Laws of such nature helps in making a
framework within the limits of laws specified for it. In it provisions has been set which makes
organization to achieve its goals and objectives. Ethical code of conduct are those rules and
regulations that make business organization develop disciplines and order within business
environment of an organization. Both the laws hold wider scope as they deal with internal and
external working of an organization. Nature is dynamic as it covers different elements which
provides legality within business.
TASK
PART1(Breach of Contractual Relationships and Remedies)
Case Scenario: In this case Raymond has been working part-time in a firm as an
accountant in taxation department. Further an small business consultancy is run by him and he
holds speciality within taxation advice. As per the case Samantha and Raymond has entered into
contract whereas Samantha is a struggler artists for this draft has been formed over last three
years with amount to be paid of £800. Raymond as per the contract did his work. Samantha told
that she could only pay £200 as full payment over debt that has been left out. Later paintings
made by her were sold for higher price of £20,000. This was red by Raymond in newspaper
about the selling of her last work. Now he wishes for claim upon balance left out that is £600
from Samantha.
Following questions required to be answered in relation to the above case scenario:
Advise Raymond on possible remedies available to him.
Contract laws are the laws which deals with formation of agreement between two parties
or organization in order to make sure that all transactions is performed as per law prescribed for
it. According to these laws an agreement is formed between parties which should consists of
certain elements to make it contract (Gaitán, Herrera-Echeverri and Pablo, 2019). These
elements are offer, acceptance, consideration and legality. If any of the element is absent then
contract is not going to exists. Majorly within contract wrong committed is breach of contract
which happens when an party has failed to perform obligation given under contract. In order to
deal with breach various remedies has been mentioned within contract that are as follows:
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