Law for Business Managers in UK
Added on 2021-02-20
13 Pages4482 Words27 Views
Law for BusinessManagers
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11 (a). What does a contract mean and what are the essential requirements to form a validcontract as per law of England and Wales?................................................................................1(b). Would Ringo be liable to pay Paul based on the facts above?.............................................22. Discuss the criteria that Jerry (as the claimant) would need to satisfy in an action fornegligence...................................................................................................................................33. Identify the main business mediums available to Ringo and his friends John and Yoko andthe advantages and disadvantages of each of these mediums.....................................................54. Discuss why it is important for Ringo, John and Yoko to identify the correct employmentstatus of any workers that they recruit for their business............................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONLegal system in a country is a set of legislation, rules and regulations enacted in order toprovide a direction in which all the activities are to be conducted. The main aim of law is toassist individuals and business organizations to conduct the activities lawfully (Brown and Nagy,2015). This assignment covers the aspects of ethics, code of conduct and regulationsimplemented and makes it compulsory in the scenario of negligence, contracts and agreements,different types of entities along with suggestions of several kinds of business. Furthermore, itincludes a case study which has been resolved with the use of relevant laws and acts to how thesecan be used in managing the operations of business organizations. In addition to this,recommendations have also been covered for investing the fund in a particular business type byconsidering the statutes and regulations implemented throughout UK. MAIN BODY1 (a). What does a contract mean and what are the essential requirements to form a valid contractas per law of England and Wales?Contract law can be termed as a foundations for all commercial transactions or dealingsinvolved in an organization. The impact of such law is huge on the business operations as itprovides the directions or guidance to carry and completed a an activity or work. Every businesstypes enter into contracts to carry the dealings in an ethical manner without breaching any clauseor term (Bruneel and et. al., 2012). All the conditions given in a contract must be fulfilled byboth the parties and if a single or more than one clause is breach by either of the parties, then it istermed as breach of contract. Furthermore, it is of two kinds viz. Written and verbal. The lawgoverning the contracts has been enacted for protecting the parties against any misconduct,breach or fraud etc. Also, it acts as an evidence which can be submitted in case of any disputes orconflicts resulted due to the contract. However, there is a pre-requisite to this, that a it must bevalid contract made by including all the essential conditions as provided by the contract act.Some of the elements which should be incorporated in a contract to make it valid are as follows: Offer- It is the first element in which an offer is made by the offeror to the offeree. It is apromise which should be there in a contract to make is validly acceptable. In simple terms, offerimplies the terms and conditions of the contract which is put before the offeree. 1
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