Business Law & Ethics: Specific Performance and CSR in Business

This essay delves into the critical aspects of business law and ethics, emphasizing the role of contract law in establishing legal frameworks for business operations. It explores the concept of specific performance as a remedy for breach of contract, analyzing its limitations through relevant case laws. Furthermore, the essay investigates the significance of Corporate Social Responsibility (CSR) in promoting ethical conduct and social accountability within organizations, examining its impact on brand image, customer engagement, and overall societal welfare. The discussion highlights how CSR initiatives can contribute to economic development, environmental sustainability, and positive societal change, ultimately fostering a more responsible and sustainable business environment. This resource is available to students looking for solved assignments on Desklib, a platform offering comprehensive study tools.

Business Law And Ethics

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
CONCLUSION ...............................................................................................................................4
REFERENCES................................................................................................................................4

INTRODUCTION
Business law and ethics means those legal perspective that has been used in order to
develop legal structure leading towards establishment of business organizations in more effective
way. As per these laws legislation are formed considering various aspects which makes business
organization operate as per legal standards established within country. Business laws are based
upon corporate and commercial activities performed by an business in more effective way.
Ethics are based upon establishing order and discipline within society through which proper
guidance is shown over right direction. These laws share wider scope in terms of contract and its
formation which allows agreement attain validity within eyes of law. In this report basic aspects
based over contract and corporate social responsibility is discussed with there impacts upon
business organizations. Contract law are explained in relation to specific performance with
relevant cases.
MAIN BODY
Discuss the remedy of specific performance and the limitations imposed by the
courts on this form of relief, with reference to relevant case law and legislation with respect
to Contracts. Contract laws are those set of rules that leads upon forming agreement by making
them attain shape of contract while working within an organization. These laws are mainly used
over forming contract which exists between two or more then two parties. These laws are based
upon contract formation helping upon making agreement attain legal validity within the eyes of
law. Contract law are justified with the help of statement “ An agreement can be contract but an
contract cannot be agreement”. It states that an agreement can be treat as contract but contract
cannot be treated as agreement since agreement leads over contract formation. Contract can be
written and unwritten form which means promise can be contract as well as written agreement
can be an contract(Conant, 2018). In order to form contract certain elements requires to be
present within it which are offer, acceptance, obligation and legal relations. Under offer idea
over contract is presented to parties and acceptance mean accepting idea by another party. Third
element is obligation helping in making contract created in more effective way. Fourth element
is legal relationship based over law and legislation used within contract. It is also based over
elements within which contracts are formed it should not use perspectives like smuggling and
betting as base of contract. Under contract there are various kinds of issue which is raised in the
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form of breach of contract taking place due to violation of obligation done by partners. In order
to handle the breach various remedies are provided within contract that is damages, specific
performance, injunction, repudiation and rescission. Sam is required to develop understanding
about specific performance this remedy is based over discretion which has been shown by
judge(Kourtesopoulou, 2022). It means order passed by court in relation to contractual obligation
created. Further, these obligations are performed in order to make party perform unwilling
performance occurred due to limited or certain circumstances. This makes granting of specific
performance making court look whether damages should be adequate remedy over type of
contract whether equity required. The remedy is used upon making specific conditions occurred
upon obligations as per the violation done within contract. In relation to specific contracts court
passes order after making analysis upon facts which are been presented within the court in order
to analyse authentic points of the case making specific condition of breach to be identified by
judge. The remedy is used within contract of sales regarding land. There are certain relevant
cases which has been used within for specifying contract that is Nutbrown v Thornton in this
case claimant formed contract upon purchasing of some machinery from Thornton. According ti
breach contract resulted under specific performance of contract. Further, court held that specific
performance of contract has taken place over granting damages making non-delivery of goods
damages used upon making compensation provided to buy machinery elsewhere. Another case to
be justified the concept is Cohen v Roche the case is based upon commerce articles and interest
within them. Court held that specific performance should make adequate compensation done by
awarding damages(Beckers, 2018). Further, the judgement was based upon 'ordinary articles of
commerce and of no special value or interest'. Also chairs could be purchased from somewhere
else.
Discuss the extent to which corporations take Corporate Social Responsibility
Seriously. Corporate Social Responsibility means those rules and models which are used over
making organization socially accountable to both stakeholders and public. Also the concept is
related upon making organization develop proper structure which is based upon welfare of
people living within country. Under corporate social responsibility there are three main aspects
which are economic, social, and environmental parts used for regulating organization in more
effective way. CSR leads over making organization handle social perspective which makes
contract formed in more effective way. Corporate social responsibility is related with business
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model making organization concentrate by improving society and environment. It leads over
conducting programs which makes awareness generated about problems related to individuals
living within society(Alpa, 2018). CSR aims upon developing organization by making
connection with society leading upon increasing sales. The introduction of CSR leads towards
making organization perform social welfare leading towards developing brand image for an
organization helping over establishing better structure in terms of social upliftment. Also it
contributes towards economic development by generating large customer base for an
organization. This make product selling done within market upon large scale. CSR organization
makes operations performed in relation to GDP which leads upon uplifting economic welfare of
an organization. Further CSR holds environmental perspective through dealing with issues like
pollution, carbon emission and waste management. Under CSR human rights, the community,
environment, and society are mainly covered. There are various advantages posses by CSR
which makes it more relevant for various operations performed within an organization. Sam is
required to understand CSR as it makes ethical consideration performed with positive approach
in an business environment. Ethics are related to CSR as it seeks upon forming ethical code of
conduct in relation to environmental and social perspective of society. Advantages of CSR are
brand image: CSR has tendencies to impact working within society which makes an
organization understand about customer preferences and needs. Also it helps organization in
forming brand image making within public(Eisenstadt and Pacella, 2018). Increases brand
awareness: this is another important part of CSR which is strong and effective in nature.
Through this perspective business new product and services are been introduced within society.
The brand image formed lead over making organizations gain popularity within society.
Advantage over competitors: Through embracing CSR an organization stays ahead of its
competitors making organization grow effectively within market.
The conception variety organisation create assorted rule helping upon treating issues
which are prominent for developing society more effectively. CSR makes an organization think
independently about society and its welfare. The organization through its programs is able to
create opportunity for success and growth. Also, CSR brings issue related to environment solved
more effectively. If CSR responsibility is developed with positive approach then it makes
organizations create economic stability within an organization helping in bringing social,
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economic and environmental stability within a country. Thus Sam is required to understand the
concept in order to work better within society.
CONCLUSION
From the above discussion it has been marked out that business law and ethics are
important perspective of an organization which leads over formation of business organization in
more effective way. Through the law business organization is able to operate with more
effectiveness towards goals and objectives. In this business law ethical perspective is covered
with motive to achieve organizational goal. The essays discuss about two main concept of which
are specific contract and Corporate social responsibility helping an organization develop better
structure for business. These concept helps organization inn making breach of contract solved
with the help of specific contract. Corporate Social Responsibility makes organization handled
social, economic and environmental issue solved in more effective manner.
REFERENCES
Books and Journals
Alpa, G., 2018. Arbitration and ADR reforms in Italy. European Business Law Review, 29(2).
Beckers, A., 2018. The Creeping Juridification of the Code of Conduct for Business Taxation:
How EU Codes of Conduct Become Hard Law. Yearbook of European Law, 37,
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Conant, L., 2018. 6. Europeanization and the Courts: Variable Patterns of Adaptation among
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Authority (ESMA) in the Realm of Credit Rating Agencies–Some Critical Observations
in a Broader Context. European Business Law Review, 29(2).
Deipenbrock, G., 2018. Private Enforcement in the Realm of European Capital Markets Law
Revisited and the Case of Credit Rating Agencies from the Perspective of European and
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businesses in making ethical data decisions. Business Horizons, 63(1), pp.9-16.
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Law Journal, 55(4), pp.665-719.
Luhmann, N., 2018. Some problems with ‘reflexive law’. In Law, Legal Culture and Society (pp.
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Mora-Sanguinetti, J.S. and Pérez-Valls, R., 2021. How does regulatory complexity affect
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RendEisenstadt, L.F. and Pacella, J.M., 2018.Alpa, G., 2018.Beckers, A., 2018Conant, L.,
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2020Luhmann, N., 2018.Mora-Sanguinetti, J.S. and Pérez-Valls, R., 2021Rentorff, J.D.,
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2019. The concept of business legitimacy: Corporate social responsibility, corporate
citizenship, corporate governance as essential elements of ethical business legitimacy.
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Strathausen, R., 2017. Masters of ambiguity: How legal can lead the business. In Liquid
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