Contract Law and Ethics in Business Organization

Business Law and
Ethics

Table of Contents
PROJECT 1- INDIVIDUAL ESSAY...................................................................................................2
INTRODUCTION................................................................................................................................2
Contract law and its blue prints..................................................................................................2
Court system in relation to English legal system and advise the parties above which court action
to pursue......................................................................................................................................3
Advise Hilary as to whether binding as whether binding contract exist within herself and each of
following people i.e., Eleanor, Amy and Olivia..........................................................................3
Explain and discuss various remedies available to the parties...................................................4
CONCLUSION....................................................................................................................................6
REFERENCES.....................................................................................................................................7
Books & Journal:..................................................................................................................................7

PROJECT 1- INDIVIDUAL ESSAY
INTRODUCTION
In Relation to a business organization, there are different rules regulations and laws which play
important role in regulating the business activities. They also help in governing the business
principles and morals by focusing on a particular area of ethics and loss. It also ensures smooth
functioning of the business activities by dealing in ethical way (Halbert and Ingulli, 2020). Under
this report there is discussion on the case studies. These case studies are based on contract law and
blueprints of it. There is also discussion about English legal system and advice related to given case
study.
Contract law and its blue prints
In relation to managing the rules and regulation and a professional and personal way,
government within the country play important roles. One of this rules include the contract law.
Contract law can be determine as a regulation and written agreement which is related to defining
the legal promises which bind two or more parties in a contract. Establish a mutual understanding
and coordination between two parties so that they can establish a relationship in a form of contract
to fulfill a particular task. Contract law differs from country to country where each country has its
rules and regulation regarding the contract law. There are different kinds of blueprints under the
contract law which includes various components. The basic component of contract law is offer.
Offer is mandatory to start the process of negotiation and exchange within the contract. The second
component within a contract law is acceptance (Clarkson and Miller, 2020). Acceptance is
mandatory within the contract law because it is directly related to accepting the offer made by the
party bye and other party. The third
Major component of contract law is consideration. Consideration includes objects values and
many other monetary and non-monetary things for which the contact has been established. Use of
consideration is mandatory under the contract law because it helps in improving the decision-
making abilities in a right direction. The last factor within the contract law is legality. It is directly
related to creation of a valid contract so that a statutory regulation can be passed. It is mandatory for
the organization because it helps in decreasing the future interactions and carrying out a contract in
an effective way by forming it in legal structure (Lipschultz, 2017). For making the policies easy to
understand as well as follow, there are different government authorities who try to include all the
perspectives within the contract law and make it comfortable for different parties to understand the
law. Moreover, it also includes different kind of processes and policies which has to be identified
while making a contract in a particular country. So it is mandatory for the organization to