Business and Corporation Law: Intelligence Assignment

Business and
Corporation Law9 / 1 3 / 2 0 1 9
Student’s Name

HI6027 1
Contents
Part A..........................................................................................................................................2
Question 2...............................................................................................................................2
Issue.....................................................................................................................................2
Rules....................................................................................................................................2
Application............................................................................................................................3
Conclusion............................................................................................................................5
Part B..........................................................................................................................................5
Question 2...............................................................................................................................5
(a) (i)........................................................................................................................................5
Issue.....................................................................................................................................5
Rules....................................................................................................................................5
Application............................................................................................................................6
Conclusion............................................................................................................................6
(a) (ii)........................................................................................................................................6
Issue.....................................................................................................................................6
Rules....................................................................................................................................6
Application............................................................................................................................7
Conclusion............................................................................................................................7
(a) (iii).......................................................................................................................................8
Issue.....................................................................................................................................8
Rules....................................................................................................................................8
Application............................................................................................................................8
Conclusion............................................................................................................................9
(b).............................................................................................................................................9
Issue.....................................................................................................................................9
Rules....................................................................................................................................9
Application............................................................................................................................9
Conclusion..........................................................................................................................10
Bibliography..............................................................................................................................11
Books/Journals......................................................................................................................11
Case Laws.............................................................................................................................11

HI6027 2
Other Resources....................................................................................................................11
Legislation..............................................................................................................................11

HI6027 3
Part A
Question 2
Issue
To advice Forthryrt regarding different transactions that have been done by him with various
parties in the given scenario? Further to check whether any contract is binding to him and if
yes then when such contract has been concluded.
Rules
For a valid contract, few elements need to be there which are commonly known as essentials
of a contract. These elements need to exist in each contract that too according to the rules
prescribe for them under contract law. Firstly, the element named offer comes in a contract.
An offer can be related to anything that is valid and legal under the law. It is a proposal to do
an act or not to do the same for the exchange of a monetary value or something else. A valid
offer is the one that is completed in every aspect. It means the terms of an offer should be
clear. Sometimes parties do not make any offer but shows their willingness to develop a
contract and invite offers to consider and accept. Such an invite offer is known as an invitation
to treat under contract law. The second party who come across an invitation to treat is
generally required to make an offer. The lead difference between an invitation to treat and
offer is that offer is certain and communicated to a specific person whereas an invitation to
treat is general in nature and open to everyone. Offer can be accepted but an invitation to
treat does not1.
Another element of a contract is an acceptance that is also known as consent. Unless the
person to whom an offer has been made accepts the same, an agreement cannot be
1 Duhaime.org, Duhaime's Law Dictionary (Duhaime.org) <
http://www.duhaime.org/LegalDictionary/I/InvitationtoTreat.aspx>.