Business Law and Ethics: Contract Law Analysis and Remedies Report

This report delves into the realm of business law and ethics, providing a comprehensive analysis of contract law principles within the context of the UK legal system. It examines the essential elements of a legally binding contract, including offer, acceptance, consideration, and contractual capacity, while also addressing vitiating factors. The report applies these concepts to a case study involving Hilary and three other parties, analyzing whether binding contracts exist in each scenario. Furthermore, it explores the structure of the English court system, differentiating between civil and criminal proceedings and outlining the role of legislation and common law. The report concludes by discussing the remedies available to parties in the event of a breach of contract, such as specific performance and compensation, and how these remedies apply to the specific cases presented. This analysis aims to provide a clear understanding of business law and ethical considerations in contract formation and enforcement.

Business Law and
Ethics

Table of Contents
INTRODUCTION...........................................................................................................................3
Contract law and its blue prints .............................................................................................3
Court system in relation to the English legal system and advise the parties above which court 4
Advise Hilary as whether binding contract exists..................................................................5
Explain and discuss various remedies available to the parties...............................................5
Conclusion ......................................................................................................................................7
REFERENCE...................................................................................................................................8

INTRODUCTION
Business law & ethics is law that is related to commercial transactions that are taking
place between two parties. It is used for the purpose of enhancing business transactions to
enhance the performance of business (Ahlinder, 2017). Present report is based on the discussion
of court procedures and legal laws that are related to contract law applying to the present case
study. There is discussion of the contract law, its blue prints, English legal system governing all
the cases. Further there is application of such clause on the present case study where contact of
Hilary is in relation to three different parties. Lastly there is analysis of remedies available to
parties in situations of breach of a legal contract.
Contract law and its blue prints
Contract is a agreement that is legally binding two parties and there are certain basic principles
that are governing all formal contracts:
There has to be offer made by one party. Other party should accept the offer. In between
there shroud exist a consideration that is a promise to pay a monetary amount, do something, nit
to do something or a promise to provide something else of a value.
The contract has to be made with a intention to legally bound with the agreement. Parties
should posses a contractual capacity that is recognized by law such as companies, Limited
liability partnerships and the age should be minimum 18 years. If all such element are existing
than it leads to creation of a legally binding contract (ASOCIAriON, 2017). There should be no
vitiating factors like misinterpretation that can lead to impairing of the contract validity. It can
lead to reversing of the legally bounded contract and can be declared as void ab initio that is law
was never made and the remedy present in such a situation is Rescission.
Consideration is one of the most crucial aspect of a valid contract as it is something that
is part of dealing in both the contracts. In financial aspects both parties have to fulfil all the
promised that is to do something or to not to do something that has been mentioned in the
contract (Schelhaas, 2017).
There has to be always a intention to enter into a lawful relationship by both the parties
who are part of the contract. Such as in the most famous case of Balfour vs Balfour where there
was a landmark judgement. It was a agreement between husband and wide. Here court declared

that there was no lawful intention behind formation of the contract and thus, this contract is not
legally binding both the parties.
Court system in relation to the English legal system and advise the parties above which court
Formation of a contract:
In present situation the country is having focus on adoption of some lawful practices so
that there can be maintaining of peace. English legal system is aimed at taking timely decisions
to achieve some specific outcomes (Davies, 2018). For solving these cases judiciary system
plays a very crucial role as it is divide in two parts that is civil and criminal. The description of
judiciary system is mentioned below:
Civil proceedings:
It is a very crucial aspects that has to be resolved in judiciary premises. All civil matters
are to be considered that are less difficult and to be resolved with judgement provided by judges.
In civil proceedings there is need to focus on type of courts such as country court, magistrate
court, supreme court and many others, the maximum number of cases has to be resolved by
country court (Stack, 2018). Civil law is dealing with country courts and complex cases a judge
before trying a civil case is relating the relevant cases and trying to become familiar with all the
details. There is a need to manage the civil cases to ensure its processing are starting within
specified time period.
After assessment of the case there is a need to enhance the value of court procedure that is very
necessary to take court assistance (Freedland, and Dhorajiwala, , 2019). The court has benefits if
the case is solved according to early made agreements. If the disputed parties is not able to solve
the issues if country court then there is a need to take timely assistance from another court to
reach to some specific conclusions. If the disputed party is approaching to another court then it
might lead to a long procedure to reach some specific conclusions.
There is legislation that is the Act of parliament, the principal legislation is based on
UKL parliament. This body has the power to pass laws that is applied on four countries.
Parliament consist of house of common and House of Lords (Fowler, 2018). There are 650
members on house of common and 800 in House of Lords. Common law is derived from judicial
decisions and similar tribunals. The English legal system of England & wales is common one
law.

UK law is further classified in Public and private law. Public law is governing
relationship between citizen & state. Private law govern the relationship between a individual &
a private organisation.
Advise Hilary as whether binding contract exists
Case 1: In the provided case the advertisement that was used by Hilary will be considered as an
invitation to offer a sale. In case of Prtridge vs Carttifner court made a statement that a
advertisement on any public Platform that is easily accessible by anyone is always a invitation to
offer, in present case offer was made by Eleanor that Hilary further counted the offer and it lade
to offer becoming ceased. After which the offer made by Hilary again and getting rejected by
Eleanor there comes a situation of no conflict among both parties has there has been invitation
but was followed by no acceptance of the second part to the contract.
Case 2: The general rule is based on a exception that if acceptance is sent via postal means then
acceptance can never be revoked if it has been already in transmission mode as both parties are
bounded by contract. This application based on facts will be conclude that Amy did not revoked
the acceptance as she posted the acceptance letter already. This can be understood by the
judgement passed in case of Entores vs Far miles east corporation. In present case Amy herself
wanted to revoke the contract and fax reached before the post so the contract became void at that
point itself.
Case 3: Notice by Hilary will be considered as offer invitation. In the case of contract between
Hilary and Olivia, Olivia made a offer that was rejected by Hilary so there was no acceptance of
the offer and that again lead to no formation of a legal binding contract between both the parties.
Explain and discuss various remedies available to the parties
There are basic two types of remedies available in a contract law that specific
performance and compensation. Compensation is a remedy that is awarded by court in case there
is breach of contract and there is awarding of compensation by part who is sufferer and must
observe that loss has been foreseeable.

Another remedy that is the specific performance of the original contract that occurred at
the time of offer and acceptance between both the parties and are now legally bounded. As there
are many times situations where the compensation is not enough. In such cases court can order
that there has to be specific performance of the original contract (Jennifer, 2018).
These remedies have to be considered according to Present situation there are remedies
available according to the situation. Such as in case of contract between Hilary and Amy there
can be request of compensation by Hilary as Amy earlier excepted the offer and the letter was
already posted before fax (Pasculli, 2016). In case of Eleanor and Hilary there was no acceptance
by Eleanor so there can be no demand of either specific performance or any type of
compensation as Eleanor already declined the offer and there was no acceptance that lead to no
formation of bay type of legal contract between both the parties.
Both the above remedies are available for court before the declaration of final
judgements. In this major considered points are the basis on which contract was created.

Conclusion
From the discussion of above mentioned scenarios of various aspects that are part of
contract law. It can be concluded that business law and ethical law are the two most vital concept
that are part of every contract that takes place between both the parties. There are some crucial
aspects of contract law that actually lead to legal bound on both parties. If all the elements are
Present in a contract in that situation only there can be demand of ether two remedies that is
specific performance or compensation. In these cases it depends on the discretion of legal courts
their decision is final after there has been detail consideration of different aspects of the contract.

REFERENCE
Books & Journal
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ASOCIAriON, U.L.S., 2017. LEGAL ISSUES JOURNAL.
Davies, P.L., 2018. Related party transactions: UK model. European Corporate Governance
Institute (ECGI)-Law Working Paper, (387).
Fowler, J., 2018. UK Case Law Update. Int'l J. Franchising L., 16, p.21.
Freedland, M. and Dhorajiwala, H., 2019. UK response to new trade Union strategies for new
forms of employment. European Labour Law Journal, 10(3), pp.281-290.
Jennifer, P., 2018. Debt Restructuring in the UK. European Company and Financial Law
Review, 15(3), pp.449-471.
Pasculli, L., 2016. A Right Turn in the English Criminal Law: No More Anomalous Forms of
Complicity. An Important Lesson from the UK Supreme Court. An Important Lesson from
the UK Supreme Court (May 22, 2016). Diritto Penale XXI Secolo, 1, pp.116-129.
Schelhaas, H.N., 2017. Penalty Clauses and the Recent Decisions by the UK Supreme Court in
Cavendish v. Makdessi & ParkingEye v. Beavis. European Review of Private Law, 25(1).
Stack, K.M., 2018. Overcoming Dicey in administrative law.
Online
Civil justice in England and Wales, 2020 [online], Available
through<https://www.judiciary.uk/about-the-judiciary/the-justice-system/jurisdictions/
civil-jurisdiction/>