(PDF) Business and Corporate Law

Added on - 21 Feb 2021

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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1PART A: CONTRACT LAW..........................................................................................................1Issue.............................................................................................................................................1Rules............................................................................................................................................1Application...................................................................................................................................2Conclusion...................................................................................................................................3Part B Corporation Law..................................................................................................................3Issue.............................................................................................................................................3Rules............................................................................................................................................4Application..................................................................................................................................4Conclusion...................................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONBusiness law is a physical structure of law and its is governed by commerce and business.It is usually considered as civil law. It deals with both the private and public law. Business lawincludes contract law, corporate, property, intellectual and negotiable law etc. It is veryimportant for business as it provides management help in maintaining business ethics. Presentreport contains two types of law i.e. contact law and corporate law. In both the law case study isprovided and legal advice is asked(Anderson, 2016.).PART A: CONTRACT LAWIssueSOO burgers wants to increase it sales of hamburgers because company has suffered lossin the last financial year. SOO burger involved in a promotion activity named “the fair dinkumdeal”. According to the promotion a token was attached to the wrapper of every “double Deckeremu burger” and it was promoted through online, radios and newspapers. If a customer collects50 tokens than they will scratch the golden ticket and if it says a golden car than they will beawarded with brand new Mazda CX-9. Mickey heard the promotion on radio and purchased 50burgers and started to eat, he suffered with exhaustion and was rushed to the hospital. Anotherperson named Brett scavenged trough the bins and collected 100 token which were discarded. Hescratched and found that he won 2 golden cars, he rushed to the reception area. An employeecame inside and posted a sign that there was a printing error, golden tickets was not part of thepromotion. Management said sorry and told that these tickets are void and cannot be claimed.Meanwhile a customer emerged smiling and said “i am so happy to win the car”. Mickey wasalso having golden ticket and after hearing news he ran out of the hospital. The issue here is thatwhether Mickey and Brett should get the car and legal advice need to be provided for theirpositions separately.RulesA contract is set of promise which is legally binding. A person offers something toanother person, offer need to be accepted by the person. A contract is formed where theseelements are fulfilled such as agreement (contains both offer and acceptance), consideration,legal relations, ability to contract and conformation of legal authorities.1
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