The Law for Business Managers in England and Wales
Added on 2021-02-20
12 Pages4070 Words228 Views
LAW FOR BUSINESSMANAGERS
Table of ContentsINTRODUCTION...........................................................................................................................4MAIN BODY...................................................................................................................................41. (a) Under the law of England and Wales, what is a contract and what are the requirementsfor a valid contract to be formed ?..........................................................................................4(b) Would Ringo be liable to pay Paul based on the facts above?.........................................52. Discuss the criteria that Jerry (as the claimant) would need to satisfy in an action fornegligence...............................................................................................................................53. Identify the main business mediums available to Ringo and his friends John and Yoko andthe advantages and disadvantages of each of these mediums................................................74. Discuss why it is important for Ringo, John and Yoko to identify the correct employmentstatus of any workers that they recruit for their business.......................................................8CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONUnited kingdom legislation has provided several laws and regulations to protect andsecure citizens of nation. Business law was created to administer all stages of a businessorganisation and provide them correct guidelines. This study will cover all ethical and code ofconduct regulations which are to be followed by acts of negligence, contracts and agreements,different types of organisations and suggestions of different types of business.Case studies willbe solved in which number of laws and acts will be explained that how they can help to take anyof the business. Suggestion will be given that what are those business option which is availablewith the company where they can invest their fund. All of this suggestion will be based on lawand regulations which has been enforced in UK.MAIN BODY1. (a) Under the law of England and Wales, what is a contract and what are the requirements fora valid contract to be formed ?Contract Law is the law which defines that how any of the company need to proceedingin any of the work in legal ways.As explained above law and regulation which have hugeimpact on business organisation, because it tells that how any of the work is needed to be doneand what are those things which should be avoided. This is one of the laws which must befollowed to work ethical. Whenever, person or even organisation fails to perform their part of
work then it is understandable as breach of contract (Hansmann and Kraakman, 2017). It isalways of two types, either written or verbal. Contract law is one of the safest law as it helps toreduce the arguments. In UK, it is necessary that complete procedure should be followed to makeany of the contract as valid. The elements which are needed to be considered in any of the legalcontract is explained belowOffer is when a contract is initiated a party forwards a business proposal to another party,which will award both sides with monetary rewards. Consideration and Negotiation is thesecond party shall make negotiations and change some points in contract according to theirconsideration in contract. Acceptance comes after negotiating terms offer is accepted by secondparty they form a legal binding to commence the agreement in a legal formation. Legal Relationis Law and regulations are mentioned in agreement for safety of both parties. In case any breachof contract appears it protects innocent party and acquires them claim from compensating party(R (Factortame Ltd) v Secretary of State for Transport, Local Government and the Regions, isone of the case where contract has been breached and work has been not performed according tothe requirment of law) . Validity is an any legal document, is not proven valid unless all lawsand regulations are correctly mentioned in it. Carlill v Carbolic Smoke Ball Co is one of thelandmark case which discusses about element of contract. Here, court decided that any of thecontract should be legal in binding (Four landmark cases that changed the legal landscape in theUK, 2017).In any contractual agreement its very necessary to follow all steps mentioned above, ifany one of them is missing the contract is declared null and void in nature. Parties shall keenlyobserve every detail of contract and then agree for it, any negligence towards such formationswill put a negative affect while seeking justice in court rooms.(b) Would Ringo be liable to pay Paul based on the facts above?As per the given case scenario, it is understandable that both father and son have enteredinto the valid contract. There was a offer and acceptance which makes the contract valid undercontract law. According to the contract law, whenever person enters into the contract they notallowed to breach its terms and condition in any of the situation except when terms and conditionof agreement changes due to some circumstances. Here, father has breached the contract byclearing out that Paul should put up some more amount of weight (Macey, 2013). This was notthe terms and condition of the contract. The contract which was formed between both the party
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