Assignment on Foundations of Business Law

Added on - 21 Apr 2020

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Running head: FOUNDATIONS OF BUSINESS LAWFoundations of Business LawName of the StudentName of the UniversityAuthor Note
1FOUNDATIONS OF BUSINESS LAWTable of ContentsQ1. Contract Law: Capacity [Minors].............................................................................................2Q2. Contract Law: Invitation to treat...............................................................................................2Q3. Contract Law: Partnership........................................................................................................3Q4. Contract Law: Intention to create relation................................................................................4Reference.........................................................................................................................................6
2FOUNDATIONS OF BUSINESS LAWQ1. Contract Law: Capacity [Minors]A minor is defined in the terms of contract where the person who has not completed theage of 18 years and if that contract has applicable to the conditions then agreement will be void.According to the capacity of contract, it is necessary to determine the validity of the contract,which should complete the elements with the relevant capacity for entering into the contract.Without the limited capacity, it is required to complete the contractual transactions.According to the Age of Majority Act 1971, a person must complete the age of 18 yearsfor entering into the contract. The Minors are required to have protection for being theimmaturity. Therefore, for developing a contract the basic rules should applied for entering intothe contract.According to the section 11 of the Contract Act 1950 it is required to fulfill all the termsof capacity which are the person should complete the age of minority, must be sound mind andshould disqualified under the terms of contract. Therefore, the complete of the age of 18 years isrequired for established a legal contract. The famous cases where the capacity of contract hasbeen found and due to entering in the contract, it became voidable which areTan Hee Juan vTeh Boon Keat (1934); Government of Malaysia v Gurcharan Singh & Ors (1971) ; LehaBinte Jusoh v Awang Johari bin Hashim (1978).Q2. Contract Law: Invitation to treatAccording to the Contract Act 1950 the section 2 has defined that if one person hasdirectly significant for the willingness for abstain with any act, which must complete the offer byaccepting the proposal. When a legally binding contract has introduced then it should have an
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