Breach of Contractual Relationships and Remedies

This report discusses contractual relationships, remedies for breach of contract, and the importance of valid contracts. It explores a case scenario involving Raymond and Samantha and analyzes the legal principles involved. The report also highlights the doctrine of promissory estoppels and its application in contract disputes.

Breach of Contractual Relationships and
Remedies

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Business law is considered as that aspects of law which incorporates overall norms which
are govern form performing the business practices within entity. Moreover, this is not only
confined to individual’s business or firm. This also includes various legislations that are required
for operating the business as well as manages the relations of person that could be among buyers,
customers, producers and many more (BITEW, 2020). Additionally, the law which comes within
business law ambit are contracts law, employment law, data protection laws and others. Also, the
regulations with facilitate rules and norms to perform appropriately as well as also facilitates
remedies. The main aim of this report is to describe the contractual relations among parties to the
contracts. Moreover, the understandings of countering offer as well as doctrine of promissory
estoppels are also discussed in this report.
MAIN BODY
A law which governs the contractual relations among parties who are the contract part is
simply known as contracts law. Moreover, respective laws regulate relations among parties who
are the contractual parts as well as provide them specific rule to that they were obliged. In
addition to this, any party under the contract are bounded through contractual law rules as well as
also develop specific obligation on parties that bind up into nature (Burchardi, 2020).
Furthermore, for a contract to be bind up legally, it is essential that the contract that is developed
among parties have to be legal and valid. Along with this, there are mainly four essential that
comes under contract act that are to be accomplish for making the valid contract. So, the four
essential are acceptance, offers, and parties’ intention to develop legal relation as well as
considerations (Steel, 2020).
As per the provide scenario, this has been determined that there are contractual relation
among Raymond and Samantha. Moreover, Raymond performs into tax department within an
accountant entity as well as he is also a sole proprietor as he is running its own small business
where he provides personal advice upon taxes. In addition to this, Samantha does not have any
work and struggling as an artist. Along with this, they both entered within contractual relations in
which Raymond agreed to develop a draft for Samantha’s business for £800. Therefore, after
accomplishment of work Raymond asked for rest of the amount for that Samantha told him that
she can able to pay only of amount £200. Also, after whole these arguments, Raymond accepted
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the cheques of £200 as final instalment amount. Additionally, after a month Raymond read into a
newspaper that Samantha’s become very famous artists as well as selling its paintings with value
of £20000. At present Raymond decided for claiming rest of the amount of £ 600.
There is a valid contract among Samantha as well as Raymond as there were an offer among
both parties and here from Raymond as well as with those acceptance from Samantha for which
the offers are developed through him and a amount is decided a amount that is £800 which is
agreed by both parties. Therefore, there could be described that its contract is valid as well as
they are within legal obligation for accomplishing this (Cerini, 2020)
Within Contract law, there are specific remedies that are provided to party into breach
and they are Sue for damages where any party do not have any breach into contract then another
party could claim as well as sue for any damages that occurs by them (Dorociak, 2020).
Repudiation, this is also considered as anticipatory breach in which if any breach formed from
any of parties then other might deny from performing those task, Restitutionary, it undertake
financial remedy where compensation would be decided based upon profitability through
defendant (Griep and Bankins, 2020). Recession, into this case when party refuses for fulfilling
specific obligation then another party could also deny for that task. Injunction, in which the party
would be restrained to perform any responsibilities or act, Particular contract performance, it is
regarded as an equitable remedy that is being provided through court in case any party do any
breach into respective case Raymond would has particular contract as well as damages
performance.
In case Samantha’s have paid £200 before three weeks thereafter the circumstances
would be changed as it would be consider as counter offer as well as thereafter offer develop
earlier of £800 would be revoked and contract would perform within those new counter offer.
Essentially, counter offer is undertaken as offer that is being developed while negotiation among
parties as well as once counter offer is formed then whole prior offer would be revoked and also
agreement would be done upon new offer (Jayaweera and et. al., 2020). As into case Hyde v.
Wrench, court held that once counter offer is formed then earlier that offer would be invalidate as
well as counter offer would be consider as original offer and also into this scenario Raymond
would decided that either he desires to accept that or not and he would not accept because of
lower considerations.
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If in which Raymond requests for amount £400 from Samantha then it would be a new
counter offer from his side as well as whole priority offer of £800 and then £200 for second time
would be invalid as well as party would deal with the new counter offer thereafter form new
offer and rest would get dismissed (Juhász, 2020). Also, in case Samantha refuses for that one
Raymond could go for breach of contract against her as she has earlier accepted the offer of £800
Within the final scenario in which Raymond desired to obtain £600 which is a remaining
balance from Samantha as he have been observed that she is now famous and earning sufficient
amount from her painting as well as have obtained £20000 from her as Doctrine of promissory
estoppels would be used which describe the promise that is being settled through parties during
contract and would be binding both parties even when there is not any formal considerations that
are being formed within them (Kingshott and et. al., 2020). In case Central London Property
Trust v. High Tree House, the promise had been done among parties would be binding both of
them when the promise is developed for small payment or without any considerations. Within it,
Raymond would not be allowed for recovering the due amount of £600 from Samantha’s he have
agreed upon £200 at that time as final instalment as well as promissory estoppels would be used
upon this (Markovits, 2020)
CONCLUSION
As per the above report, it has been concluded that for any kind of contract to be valid there
have to be existence of four essential to develop contracts that is binding the parties legally.
Moreover, the law of contracts provides responsibilities rights, and obligation to parties who
enters within contracts. In addition to this, the regulations which are develops for governing the
contractual relations of individuals as well as business practices. Apart from this, the laws does
not only facilitates regulations which govern individuals or firm but also render remedies by that
an individuals may seek justice in respect of breach of contract.
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REFERENCES
Books and Journal
BITEW, Y., 2020. LIQUATED DAMAGES AS A REMEDY FOR BREACH OF
ADMINISTRATIVE CONSTRUCTION CONTRACT IN ETHIOPIA: LAW AND
PRACTICE (Doctoral dissertation).
Burchardi, S., 2020. Contractual Relationships between Investors and Financial
Advisors. European Review of Contract Law, 16(2), pp.300-316.
Cerini, D., 2020. Duties and remedies in the Principles of International Commercial Contracts
(PICC) and the Principles of Reinsurance Contract Law (PRICL): notes for a
comparison. Uniform Law Review, 25(1), pp.21-44.
Dorociak, M., 2020, August. Regulatory authorities’ interference in contractual relationships.
In Economic Freedom and Market Regulation (pp. 101-132). Nomos Verlagsgesellschaft
mbH & Co. KG.
Griep, Y. and Bankins, S., 2020. The ebb and flow of psychological contract breach in relation to
perceived organizational support: Reciprocal relationships over time. Economic and
Industrial Democracy, p.0143831X19897415.
Jayaweera, T., and et. al., 2020. The impact of economic factors on the relationships between
psychological contract breach and work outcomes: a meta-analysis. Employee Relations:
The International Journal.
Juhász, Á., 2020. The Applicability of Artificial Intelligence in Contractual Relationships. Acta
Universitatis Sapientiae, Legal Studies, 9(1), pp.63-82.
Kingshott, R.P., and et. al., 2020. The impact of psychological contract breaches within east-west
buyer-supplier relationships. Industrial Marketing Management.
Markovits, D., 2020. Contract as collaboration. Research Handbook on Private Law Theory.
Steel, S., 2020. Remedies, Analysed. Oxford Journal of Legal Studies.
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