Analyzing Contract Law: Essential Elements and Legal Implications

This essay provides an analysis of contract law within the context of business law and ethics. It begins by defining business law and its importance in managerial roles, highlighting key areas such as contract law, employment act, and intellectual property rights. The essay then delves into a case scenario, examining the essential elements of a contract including offer, acceptance, consideration, and legal intention, referencing relevant case laws like Balfour v. Balfour and Hyde v. Wrench. It discusses the concept of counter offers and their implications on contract formation. Furthermore, the essay outlines the rights and responsibilities of parties involved in a contract, such as the right to claim remedies, specific performance, and fair dealing. A second case scenario involving electrical services is presented to illustrate these rights in practice, emphasizing the importance of disclosure and proper execution of contractual obligations. The essay concludes by summarizing the key components of contract law and the remedies available in case of breaches.

Business law and
ethics

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
Business law is an important legal implication which helps in managerial the rules and
the principles in all the working nature through which the companies and the organisation
maintain the growth and the culture in the mere time. Their is been seen that in order to attain a
proper management and also to remove any kind of breach in the companies the legal set up is
important. Some of the major laws which are been seen are like the contract law, employment act
1996, IPR, companies law and many more. The contract act helps out in framing and attaining
the management and also to frame an agreement which is given for the legal agreements
enforceable in the contract. Employment law on the other hand helps in protecting the rights and
the regulation made for protecting the individuals in the companies (Luo, Wang, and Li, 2018).
This essay will cover a case scenario with essential conditions and elements of the contract along
with the rights and the responsibilities managed in the different scenarios.
MAIN BODY
Case Scenario 1
Contract law is the written agreement which is made between two or more parties with a
mutual obligation that is generated in them. This is agreement which is enforceable by law and
manages to create a binding agreement in all as in applying all the specific remedies through
which the claims are reframed in the aggrieved parties (Linarelli, 2019).
Some of the essential elements in the contract or in English law are like the Offer this is
the invitation to treat which is been given by one party in order to make the things done or also to
apply and maintain the the expression of willingness on general terms of the contract. The offer
can only be made when it is communicated to one of the party by the offerror. Another important
element is acceptance it is the assent which is made by the other party for the invitation raised by
another. It can be implied as the final and the qualified terms through which the party approves
to do a task. This can be written or oral. Another important element is consideration that
accounts to the sum or the money which is been affixed between the parties in order to complete
the contract. No contract can be made without the value is fixed. Lastly, legal intention of the
parties which is the intention and the motive of the parties in order to enter in the agreement. In
Balfour v. Balfour court helps that in all the commercial practises and the agreements made

between the parties for framing and managing the laws and have the intention to maintain the
legal relation but in all the domestic cases their is no serving of the assumption that legal
intention was being made in between them.
In the case of Avril and Belinda their was been seen that the quotation which was decided
by Avril was for price of €750 and it was not accepted by Belinda there is been seen that Avril
has made that for specific 7 days and analysed that Belinda did not accepted the offer. After few
days Belinda agreed to make the contract on that assume price to which Avril denies that now
the quotation which will be framed is €900. this implies to be a counter proffer made between the
parties as when the one party accepts and manage to make other terms and the agreements which
was been decided earlier then it will be amounted to the counter offer. In Hyde v. Wrench there
was been help that the counter offer is made between the parties (Klee, 2018). As the claimant
has made to sell the farm for €1000 to which the defendant made the price of €950 and was not
accepted. Later on, when the defendant accepted the offer the claimant denies. So, defendant
filed the suit against it and there is been seen that in all such cases when the counter offer is
made in the parties then there will not be any contract made in between them. It revokes all the
prior offer and was treated as the new contract and offer (Stone, and Devenney, 2019).
Thus, in this case no contract is been made between the Avril and Belinda as she revoked
the communication which was made in between them and then the quotation period expired so as
according to the stipulation contract is being made in between the parties.
Rights of parties made in contract are generally all those legal rights which helps in
managing and implementing all the legal contract in order to affirm and manage the valid
contract law there are certain legal rights which are been given to them they are like, Right to
claim remedies as in any of the breach which is made by the parties their they have the right to
ask for the claims and the damages in case of any breach made in between them the party can ask
for the damages, compensation and all the injunction and other awards through which they can
effectively consider and maintain the work (Helvacı, 2017). Right to specific performance of
contract it is analysed that the parties will have to cover and manage all the contractual
obligations within the management and the stipulated time period. Right to fulfil promise as this
right implies that all the parties should focus on performing the task which is been discussed in
between them and their implies that all the parties will have to manage and maintain the rights to
fulfil every part of the promise in between them. Right to be fair this considers to be a right in

which all the party will have to disclose the matters in an evident manner and there is no need to
hide or to any illegal act. Other than this the party will not make any coercion or force on the
bother in order to complete the work. This implies that the parties will have to give their consent
in a free will, and no person can force them to enter in the contract. Thus, there will not be any
contract framed between the parties in case when the rights and the responsibilities are not
managed(Zhang, 2019).
Case scenario 2 Charlie as having a advertising flyers through which used to offer electrical
services in homes. Darwash managed to contact him through email in order to manage the wiring
replacement in his home for which Charlie replies for an eventual contract that will be applied on
between them and send Eddie in order to make the work done through an independent contractor.
Eddie made a quotation of £3500 for the work which was being accepted by Darwash. After
completing the work that has received the bill of £3500 from Eddie and £500 from Charlie
although he was not an electrical contractor and was working as an agent. While turning on the
taps he discovered that all the work was needed to be re-done entirely. In all such conditions the
parties will have right to get all the work to be done in a proper manner with the consideration
which is being fixed in between them without any delay.
Right to disclosure of facts which implies that parties will have to disclose all the
important material facts which deals with the agreement. Right to exclusive ownership through
which the ownership rights and the agreement is being in forced. Right to file suit, it implies all
such rights in which aggrieved party can ask to file suit in case of any breach which is being
made in the contract (Eisenberg, 2018). Darwash has faced major loss due to the improper work
can go to the court and ask for the damages or the compensation due to the Charlie’s action.
Charlie has not even disclosed the matter properly which created a subsequent damage to him. It
is important to manage and disclose all the matters which is being related to the work.
CONCLUSION
From this report it is summarised that contract law frames and agreement through which
two or more parties can manage to enter in agreement which is enforceable by law. It considers

to have some essential elements without which no contract can be made possible which are like
legal intention, acceptance, consideration and offer. Once the offer is being revoked or
negotiated by one party then it will be a counter offer. Further there is also summarise that
specific performance of contract, damages, injunction or some of the adequate relief said
remedies which are being given in the contract law. The major rights which all the parties should
get while entering the contract are like timely payment, disclosure of facts, right to file Suit etc.

REFERENCES
Books and Journals
Eisenberg, M.A., 2018. Foundational principles of contract law. Oxford University Press.
Helvacı, İ., 2017. Place of Performance. In Turkish Contract Law (pp. 115-117). Springer, Cham.
Klee, L., 2018. International construction contract law. John Wiley & Sons.
Linarelli, J., 2019. Artificial general intelligence and contract. Uniform Law Review. 24(2).
pp.330-347.
Luo, B., Wang, C. and Li, T., 2018. Inequity-averse agents’ deserved concerns under the linear
contract: a social network setting. Annals of Operations Research. 268(1). pp.129-148.
Stone, R. and Devenney, J., 2019. The modern law of contract. Routledge.
Zhang, M., 2019. Chinese Contract Law-Theory & Practice. Brill.