Analysis of Business Law and Ethics: Contract Law, Rights, and Ethics

This essay delves into the realm of business law and ethics, with a specific focus on contract law. The introduction establishes the importance of business and ethical laws in organizational frameworks. The main body of the essay provides a detailed analysis of contract law, defining it as the legal foundation for agreements and obligations between parties. It explores key elements of a valid contract, including offer, acceptance, consideration, and legality, and discusses how these elements contribute to the formation and enforcement of contracts. The essay further examines contractual rights, such as the right to timely monetary transactions and the right to litigate in case of breach. The conclusion summarizes the importance of business laws and ethics. The essay provides a comprehensive overview of contract law and its significance in the business environment, supported by relevant case examples and references.

Business Law and Ethics

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
ESSAY.............................................................................................................................................3
CONCLUSION................................................................................................................................6
REFRENCES...................................................................................................................................7

INTRODUCTION
Business laws are the laws that has been formed in order to make an organization
establish itself within an country possible. Such laws provides an framework which through
which process of organization is run in smooth manner. Business laws are also known as
commercial laws that deal with both private and government organizations. Ethical laws related
to those rules and regulations which makes working environment to be improved in an
organization. Ethical laws are covered within ethical code of conduct in an organization. Both
the laws are important for an organization to achieve its goals and objectives in appropriate
manner possible. Scope of these laws are wider in a way that it makes various aspects to be
covered in business in appropriate manner possible. Nature is dynamic as it makes discipline and
order to be handled in an organization in proper way. Further the file cover contract law and
various question in relation to its has to be answered.
MAIN BODY
ESSAY
Contract laws are the laws that has been making an agreement to be legally enforced over
parties willing to come into contract by making them legally bound to parties. As per these laws
various kinds of obligation is mentioned within the contract required to be agreed by parties. The
law makes applicability of monetary transaction possible in more affective and smooth manner.
According to laws an party who has violated any of the rule existing in contract then other party
can take action in the form of claim against party doing such wrong. Laws of contract is based
over agreement which makes justification to be made with the help of statement it can be told
that “ an contract cannot be agreement but and agreement can be contract”(Forganni and Reed,
2019). This means that an contract is formed through an agreement though agreement cannot be
formed out of contract. In these laws wrong is committed in the form of breach for which
remedies is been mentioned within contract. An contract can be formed on the basis of selling of
goods and services, property transferring with this money transactions is included under it.
These laws is mainly focused with that kind of agreement which is formed with the help of two
or more than two parties (Dorff and Gary, 2016). Such agreements formed within the contract is
based mainly to earn profit and sustainability in market. Different rules and regulation in
relation to contract is discussed by making contracting possible within two organizations.

Contract laws makes business and activities related to business activities to be done in smooth
and effective way. These laws makes dealing with business activities possible while providing an
farmworker for objectives and goals to be achieved. Contract can be oral and written both it
depends upon nature of business to be done (Dorff and Gary, 2016). Contract law contains
different elements that makes validity of contract to be achieved upon different elements by
increasing validity of contract. Such elements makes structure to be formed that helps in forming
an contract. In the absence of any element an contract cannot be executed. Further these element
are
OFFER: This is the very first element within which an offer is made over expansion
upon willingness in an contract over parties. Offer just an idea that has to be presented to an
party that makes contract to be formed in proper manner possible. In this only the idea of
contract is made that can be wage or invokable. Person making an offer is known as offeror.
ACCEPTANCE: This second element that is required to make contract possibly be
conducted. In this an offer is made over which acceptance is shown by another party to whom
contract has been made. According it meetings of mentality should be made over parties which
makes acceptance to be made over an contract. Silence cannot be amount to acceptance which
means there should be communication between parties in relation to offer (Batrancea, Nichita,
and Batrancea, 2018).
CONSIDERATION: It is third element which is related in relation over valid contract
which is valid in nature. In this both parties makes consideration take place regarding contract.
All points is been discussed within parties in detail and also conditions existing in contract is
been discussed. Under this information and rules relation to contract is been discussed between
parties. This makes all important points in relation to contract cleared while forming contract in
appropriate manner (organni and Reed, 2019).
LEGALITY: This is one of the most effective element existing for making an contract
valid within the eyes of law. Legality is based in relation to all the laws that has been used
within contract to be formed. Such laws is applied properly or not. Further an contract is related
to making an contract to be prepared as per the contract laws. Also this makes an contract tio
hold binding over parities and specifies punishment in case of breach if taken places during the
course of contract. By using the element legal status of an contract is checked in the laws which
makes parties to attain trust upon each other. Existence of contract between Angharad and

Bridie from the facts it can be observed that offer has been made between the parties but there
has been no acceptance which shows that there is existence of invitation to treat but acceptance
has not been made between parties. So, it is clear that only offer exists and no other element is
there in relation to contract which makes it non valid. Relevant case in relation to this is Carlill v
Carbolic Smoke Ball Co it is held by Court of Appeal that rewards upon advert constituted that
offer made in relation to unilateral contract that has been accepted upon performing condition
related to offer. The court has rejected arguments which has been presented by defendants on
following grounds that statement referred for depositing of £1,000 only showed intend to offer.
Further court said that its is possible to make an offer to world. In an unilateral contract is no
requirement that the offeree communicates an intention to accept, since acceptance is through
full performance. Also an offer is been made only through expression of words to be solved by
applying time limit. The defendant should value people in terms of using ball even when it has
not been directly purchased by them. Contractual rights are that kind of right which is been
used in order to make the parties entering in contract involved with appropriate dealing to be
done in contact through good faith. Good faith is the process by which an party makes an
contract to be legally valid with fair means. As per this an party does an act that is fair in
relation to contract through doing essential discussion. An individual only enters into contract
only when the act or basis of contract is in good concern. There are certain right that has been
given to both parties within an contract and they are as follows:
 Right of making timely completing of monetary transaction upon selling of services and
products with the help of contract (Iqbal and Mirakhor, 2017).
 Right of exclusive ownership within in which all the things related to property is
transferred to its owner. This is applied in case of product also.
 Right to make selling with the help of making agreement that is based through septicity
circumstances. It is mainly related over agreement that is existing within parties.
 In this right to litigate of filing lawsuit upon breach of contract is been given to parties
making violation of rules and regulation.
From the case scenario it can be observed that there is no contract that has been made
between the parties therefore these rights cannot be applied under the situation. Further it can be
observed that Invitation to treat has been made which does not form a valid contract. This
makes sure that rights in relation to contract cannot be used (Iqbal and Mirakhor, 2017).

CONCLUSION
From the above discussed it can be marked out that business laws and ethics are one of
the most important part of an business organization. In this file it contract and its definition has
been explained. Further in the elements related to contract is covered which makes an contract to
attain legality in the eyes of law. In the end rights of contract is been explained.

REFRENCES
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