Law for Business Managers

Law for Business
Managers

INTRODUCTION
Business law is a part of whole legal system which is specifically designed for governing
the transactions that are carried by business organisations. These regulate the matters of
commercial nature in order to provide a foundation for the organisation to conduct business
activities in an efficient and legal manner. Business law is the base which provides numerous
legal provisions that are followed from the time of inception till its completely wound up.
Furthermore, it can benefit a business in several ways such as conflicts get reduced. This report
comprises of three different cases which depict the power of business law for managers as well
as all the people who might be affected with the application of law.
MAIN BODY
Part 1
The first part is divided into three sub questions which hint at a promise that is being
made in this. There is a person called Sergio who made different promises to his own son
Alexander, secretary Liam and Natasha who is a local news agent. These three promises should
be tested before they can actually treated as a promise.
Law has defined a promise as the agreement which is made by a promisor to the promisee
for the completion of the activities as mentioned in the agreement. It can be in writing as well as
verbal. Law considers the promise as a contract. In simple terms, a promise is something which
includes certain obligations which are to be fulfilled. However, one thing to be taken into
account is that a promise is mere declaration which consists of a consideration holding some
value. It is done between two persons and in no case, a promise made to self can be included
within the legal ambit. According to the law, there are several types of promises and a person can
opt for any one of them according to the requirement and need. The questions involved in this
part can be better understood with the rules that exist in law. These have bee discussed below:
1. A promise should be made between two parties which are promisor who makes
the promise and promisee who accepts it. Furthermore, both of them should be
competent. There are contractual conditions that should be met before making a
promise.
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2. A promise cannot be bind without adequate consideration. Promisor and promisee
should decide the amount of consideration on a mutual basis. A promise is
incomplete without mentioning a valid consideration.
3. If there is any condition in the promise then such condition should be fulfilled
before any other clauses. This means that all the conditions should be completed
prior to any other terms in the promise.
4. A promise is a created only after mutual consent is obtained. There should be
proper promise followed by an acceptance. It is just like a contract which
comprises a promise that should be accepted in order to bind it on the parties.
5. Every term and condition should be disclosed in a clear manner. There should be
clarity in every clause which should have certain meaning. If there is any
ambiguous term in the promise that should be made clear and definite before
proceeding with same.
6. Furthermore, there should be enforceability based on the situations created at the
time of creation of a promise. It should be enforced by taking into consideration
the benefit that the enforceability of the promise can provide to both the parties.
There is one more promise which is known as implied promises that are purely based on
the circumstances. These are created intentionally but are actually the outcome of the situations
that make two parties to make promise with each other. Promises are enforced as it provides a
legal support to the parties by which an action can be taken for the breach or contravention of the
terms and conditions mentioned in the promise. If a promise is made according to the points
mentioned above then it is treated as valid which can be enforced within the legal provisions.
This particular question is about the promises made by Sergio to separate people comprising of
Alexander, Liam and Natasha. Each such promise contained a some valuable consideration.
There have been number of cases in UK Legal System which includes number of cases. Since,
UK legal system works on doctrine of judicial precedent which provides that past law
judgements are considered for the future case laws.
In the benchmark case of Balfour v Balfour (1919), there was a husband who made a
promise to his wife to pay her 30 pounds till the time he is outside England. The obligation for
the promise was to manage the expenses of the maintenance without making any calls to the
husband. This was the agreement to which both the parties agreed. According to the court, the
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