Business Law Essay - Contract Law Elements and Case Analysis

This essay provides an in-depth analysis of business law, focusing on contract law principles. It begins by introducing the essential elements of a valid contract, including offer, acceptance, and consideration. The essay then differentiates between an offer and an invitation to treat, clarifying their distinct meanings and legal implications, particularly in the context of property transactions. It explores the various factors influencing an invitation to treat and details the different methods of contract termination, highlighting scenarios where a contract becomes unenforceable. Finally, the essay applies these legal concepts to a case study, offering advice from the court of appeal's perspective. The content covers the essential aspects of business law, providing a comprehensive understanding of contract formation, operation, and potential challenges.

Business law

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Business law is the law which regulates the commercial and business practices which are
conducted by the individuals. This essay report is being discussed about the essential elements of
law and the difference between an offer and an invitation to offer. Further, the position of the
buyer of the property with respect to offer and acceptance (Bellantuono, 2018). The report is also
discussed about the varoious factors which are considered under the invitation to offer. The
different ways of terminating the contract and when the contract becomes unenforceable. Lastly,
the advice which can be given by the court of appeal with respect to the case study.
MAIN BODY
Contract law is the general law which helps in protecting the rights and liablities with are
arose because of the contractual relation between the parties. Contract law means contractual
relation where the parties agreed upon the terms anjd conditions which creates an legal rights and
liabilities upon each other. There are some essential elements to form an valid contract such as
the one party must makes an offer to the other party and upon the acceptance of such offer the
party must give an amount of consideration which means something of value (Infantino, 2018).
There must be an contractual relation between the parties which means both the parties must
have an intension to make the contract. It is the most important element to make an valid contract
between the parties without the intension the parties cannot come into the contract.
In the contract there are two terms one is offer and another is invitation to treat both looks
similar but these both terms has different meanings. The major difference between these two
terms are offer means an expression in which the one party tells the another to do or not to do
some particular work and on the other hand invitation to treat means an expression where the
party invites the other party to make an offer to them. The offer is made with the intension to
make an legal relation between the parties where as the invitation to treat is made by the party to
come under the contract (Yildirim, Kaya and Kilic, 2019). With respect to the offer the
consequences will be raised when the party for whom the offer is being made will accept such
offer where as in invitation to treat the consequences will be raised when it becomes the offer.
Offer is called as an proposal and invitation to treat is kind of the invitation to the party to make
an offer to them.

It is important for the parties to come into the contract that can be possible with the initial
stage of an offer and acceptance on such offer. The offer refers to an expression where the one
party makes an offer to the another party in which they agreed upon such terms and conditions to
do some act or not to do such agreed acts (Iremashvili, 2019) (Sharon, 2019). When the party to
whom the offer is made accepts such offer with all the mentioned terms and conditions then that
amounts to an acceptance of such offer by that party. The parties who are coming into an
contract must have an intension to come under the legal relation. In the case of buying property
the parties must make an offer to the buyer of such property with all the terms and conditions so
that they can agreed upon such conditions. The consequences will be arouse when the buyer
accepts the offer to buy such property. In case of buying and selling of property the offer can be
made orally or in writing that will be binding in nature only.
Invitation to treat refers to inviting an offer. It is also called as an request for information
or a pre contractual representation. It is made by the person where they are using this so that the
other party can invite for the offer because it is done with the intension to negotiate with the
conditions and terms of such offer. It is easy for the parties to determine the difference between
the offer and an invitation to treat with respect to the offer so that the parties can come into an
contractual relationships.
There are several steps which the parties can follow to terminate their contract such as an
contract can be terminated on the ground upon the fulfilment of all the terms and conditions in
other words it can be said as upon the competition of the purpose of such contact is being
achieved. When any party is failed in satisfy the terms and conditions of the contract then also it
is amounted as the breach of such contract and that contract is being terminated by the parties. It
may be done without an lawful excuse or may contradict the conditions of the contract
(Talebahmadi and Eftetahi, 2019). The termination of the contract can be done when the contract
is being made by the mistake then the contract can become invalid from the beginning.
The contract can be unenforceable when the subject matter of the contract becomes
uncertain. When the parties become invalid parties upon the agreed contract. The contract can
become unenforceable when the subsequent condition of the contract is not in existence.
With respect to the case scenario, it is advised to the party that is not an offer it is the
invitation to treat as in the case of buying the property the buyer use to offer the seller about the
amount of consideration and it is upon the seller that they can sell the price according to the offer

or not (Paoloni and Lombardi, 2018). In this case the defendant has made an invitation to the
large public about the sale of such property and the parties that is the buyer has to make an offer
to the seller with respect to the conditions and the amount of consideration of such contract.
CONCLUSION
It is concluded from the above report that, contract plays an important role in developing
an contractual relationship between the parties. For an legal binding contract the parties must full
fill all the essential elements of the contract. The elements helps in determining the terms and
conditions of the contract.

REFERENCES
Books and Journals
Bellantuono, G., 2018. Comparing Contexts: Technical Standards and Contract
Law. Giurisprudenza e autorità indipendenti nell’epoca del diritto liquido-Studi in
onore di Roberto Pardolesi, La Tribuna, pp.235-257.
Infantino, M., 2018. Contract Law in a Global World. European Review of Private Law, 157,
p.164.
Iremashvili, K., 2019. Transparency in the Insurance Contract Law of Georgia. In Transparency
in Insurance Contract Law (pp. 369-388). Springer, Cham.
Paoloni, P. and Lombardi, R., 2018. Gender issues in business and economics. In Selection from
the 2017 IPAZIA Workshop on Gender, Springer Proceedings in Business and
Economics.
Sharon, P., 2019. Transparency in the Insurance Contract Law of Israel. In Transparency in
Insurance Contract Law (pp. 591-631). Springer, Cham.
Talebahmadi, H. and Eftetahi, M., 2019. A Comparative Study on Collateral Contract in English
& Iranian Law. Comparative Law Review, 10(2), pp.547-567.
Yildirim, A., Kaya, B. and Kilic, B., 2019. The Evaluation of Lesion and Willpower Injures in
Contract Law. GSI Articletter, 20, p.149.