Business Law and Ethics: Contract Law Rights, Remedies & Cases

This report provides an overview of business law and ethics, focusing on contract law. It explains essential elements of a contract such as offer, acceptance, consideration, and legal intention. The report analyzes case scenarios to illustrate the application of contract law principles, including rights and remedies available to parties in case of a breach. Specific remedies discussed include specific performance, damages, injunction, and recession. The document emphasizes the importance of legal compliance in business practices and offers insights into navigating contractual agreements effectively. Desklib offers a wide array of study resources, including solved assignments and past papers, to support students in mastering business law and related subjects.

Business Law and
Ethics

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAINBODY....................................................................................................................................3
Contract Law...............................................................................................................................3
Essential Elements of contract....................................................................................................3
Case Scenario..............................................................................................................................4
Rights in contract........................................................................................................................4
Case Scenario 2...........................................................................................................................5
Remedies in Contract..................................................................................................................5
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
Business law is a general set of rules which helps out to promote the growth and the
development in all the areas like for the organisation and for the individuals who are engaged in
business practises it is important for all of them to apply business law in all their agreements and
daily practises. This make the working smoother and also focus on making all the deals and
transactions to be safer and smoother. Their are some major laws which are applied in it they are
like contract law, company act, employment law, IPR and many more. Contract law gives the
individuals a right in which general agreements and the transactions can be made without any
issue validation (Mitchell, 2019). This report will cover all the rights and the remedies available
in the contract and the general case scenarios.
MAINBODY
Contract Law
When two or more individuals mutually agrees to carry a task or for the performance of
an act with which they will make an agreement in which the law is generally being enforced then
it will be concerned to as Contract law. In order to enter in a contract both the parties will have to
complete the essentials requirements without which no contract can be made, and their are
several remedies and rights available in it for the protection of party from breach ( Kötz, 2017).
Essential Elements of contract
Some of the major elements in the contract are like: Offer- This is an invitation of treat offered by one of the party for completion of task or
some important work related to that individual or for making an agreement with the
invitation. Acceptance-When the consent is given by the party for the invitation which was being
given by the other party in order to perform a task. This is the consent or the approval by
the other party for the offer being made. Acceptance can be expressed or implied and can
be given in any methods like calls, mails etc. Consideration- This is the value or the amount which is fixed for the performance of an
act, it means that all the person will get the set of money for making the assigned work to

be done. No contract can be made without any consideration . As it is important to fix a
particular amount for the completion of task. Legal Intention- This is generally the intention to create a legal intention or to form the
contract without any issue. As when the party enter in the contract their should be a legal
obligation in between them in order to make the performance of act (Aljaber, and et. al.,
2021).
Case Scenario
In this case Avril and Belinda are no where in contra or agreement with each other. As
when Avril has made the consideration to be fixed of €750 for Belinda for the work which she
wanted to be done, and has also given the quotation period of 7 days to her. She neither accepted
nor replied in the given time period and after some days she said to get agreed for coming in the
contract and to which Avril said that now the new consideration will be €900. As it is completely
aware that for contract it is important to complete all the requirements given in it. And their were
no acceptance or consideration being fixed earlier so their will not be any contract framed in the
parties and if Belinda wants to make the agreement to be made then she will have to agree on the
new agreement or consideration being made.
In case of Ramsgate Victoria Hotel v. Mntefoire their was no contract being made
between the party, as the time lapse at the time of offer which is being made use to revokes all
the contract and court held that there is in contract being made between the parties (Narciso,
2017).
Rights in contract
 Their is a right driven to the party in order to make the contract and also they can claim
for the damages in any kind of breach in the contract. As both the party ave the right that
if any of them has made breach in the contract as they can go to the court and ask for the
the relief or the compensation.
 Right to be fair and honest towards each other, as both the parties have the right that they
will have to act with fairness in their behaviour and their will not be any kind of ill
motive in their agreement. All the details regarding the contract should be true as for their
knowledge.
 The consent taken by the parties in the contract should be with free will as their should
not be any kind of threat or coercion being raised between the parties in their working.

 Right to timely consideration is the major right as both the parties should make the
agreement and their should not be any kind of delay at the time of payment.
Case Scenario 2
In this case Charlie and Eddie were in eventual contract and they were in an principle
agent relationship with each other. As all the work which was assigned to the agent will be
through principle and their lies that both are liable for any kind of breach made in the contract.
As in this scenario where Darwash needed to make the electric fitting to be made properly and
contacted Charlie about it. And their was also seen that in the contract their was no extra
consideration being affixed in the agreement. And when analysed that Charlie will be responsible
for the breach of contract made between them. As he had no knowledge about the electrical
contracting and working which resulted to affect and loss Darwash. And he hide this thing from
all so damages can be claimed for all such things.
Remedies in Contract Specific performance of contract- This is majorly compelling the party to perform an act
for which they had made a breach. This is a equitable remedy granted by court when their
seems that compensation is not an adequate solution (Bridge, 2017). Damages- It is the adequate relief granted by court in the form of compensation in order
to cover the loss suffered by the party. Injunction- This is generally the restraining order granted by court in order to make that
person to do an act or to restrain them from doing something illegal. Recession- This remedy make the other party to enter in the earlier position in which they
were before making the contract.
Darwash can go the the court as he have Right to file suit for the breach which is being
made in the contract ad can claim for damages for the loss caused to him. And their was breach
of one more right which is disclosure of facts, as Charlie has not disclosed about is
incompetency to perform an act which created a loss to him.
CONCLUSION
From this report it can be analysed that business law promotes the standard of working of
the organisation by implementing the legal laws and regulations. Contract law promotes the
parties to be binding with each other in an agreement and they follow 4 essentials like offer,

acceptance, consideration, legal intention. Their are generally rights serves to the parties like
right to claim for damages, disclosure of facts and the remedies are being generated in the law
lijke injunction, specific performance of contract, damages and many more.

REFERENCES
Books and Journals
Bridge, M.G., 2017. The international sale of goods. Oxford University Press.
Narciso, M., 2017. Gratuitous Digital Content Contracts in EU Consumer Law. J. Eur.
Consumer & Mkt. L., 6, p.198.
Kötz, H., 2017. European contract law. Oxford University Press.
Mitchell, C., 2019. Remedies and Reality in the Law of Contract. In Research Handbook on
Remedies in Private Law. Edward Elgar Publishing.
Aljaber, and et. al., 2021. The Legal Provisions Regulating the Finance Lease Contract under the
Jordanian Finance Lease Law. J. Pol. & L., 14, p.83.