Business Law Report: Contract Law, Court System, and Remedies

This report delves into the realm of business law, with a primary focus on contract law and the English legal system. It begins by defining contract law and outlining the essential components of a valid contract, including offer, acceptance, consideration, and mutual intent. The report then provides an overview of the English legal court system, differentiating between common law and statute law, and civil and criminal law. The main body of the report analyzes three distinct case studies, assessing the formation and potential breaches of contract in each scenario. It further examines the remedies available to parties in the event of a contract breach, such as compensatory, resitutional, punitive, and nominal damages. The report concludes by summarizing the key findings, emphasizing the importance of proper contract formation and the implications of contract breaches. The report references various books and journals to support the analysis. This assignment is contributed by a student to be published on the website Desklib. Desklib is a platform which provides all the necessary AI based study tools for students.

Business law

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Contract law and blue prints of contract......................................................................................3
English legal court system and advise to above mention parties.................................................4
Discussion on different cases.......................................................................................................5
Remedies available to parties......................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
The formation of contractual relationship has been identified as legal bond in between
two people who agrees on some legal term or promise. Contract formation helps in providing
security and peace of mind in different business dealing to all the parties involved in the
transaction (Beale and et.al., 2019). English contract law is the body regulating contract in state
of England and wales. this contract has inclusion of contractual liability, relation to the law of
property, good faith, burden of proof, defects, penalty clauses, arbitration clauses, remedies in
case of non-performance, damages. In this report, there will discussion on the English legal
system in relation to contract law. Hilary case will be discussed among three different parties and
various remedied available to Eleanor, Amy and Oliva.
MAIN BODY
Contract law and blue prints of contract.
Contract law is the body who govern, enforces and interprets the differ clauses of
agreements related in term of exchange of goods, service and properties or consideration. As per
the contract law, the agreements made between the two or more parties or business entities have
to make the certain promises to do something in return of gains or advantages which is legally
binding.
Contract act have covering of the clause for mitigating damages by the buyers when there
is the situation of breach of contract by seller. This is usually referring to the different situation
eh nth seller has agreed to sell particular goods to the buyer and fail to perform at specific time.
The valid contract has four important parts such as:
Offer
This is situation when one of party make offers by stating the terms in which other party
can agree for offer (Ben-Shahar and Porat, 2019). The situation of contract can be complete
when both sides have acceptance of offer on different team and condition.
Acceptance
Accepting another party offer makes the contract complete as the party have acceptance
of offer on term. If any of parties have different term included in contract without knowing to
another party then the contract will be turned out as null and void. So, it is important to both
parties have the acceptance of term in two way.
Consideration
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Foremost important in valid contract have need consideration to compete the gains and
advantage involves for both parties. This basically involves in monetary terms or something of
value given to someone in return for goods, services, or some other promise.
Mutual inherit to enter into agreements
To enter in mutual contract, it is important for both parties have intention to bound into
contract with mutual agreements. There should be proper avoidance of power, coerciveness and
any threat.
Basic principle of contract
 Agreements
 Consideration
 Intention to enter into contracts
 Capacity to enter that’s is more than 18-years
 Genuine consent
 Legality
English legal court system and advise to above mention parties.
English law is the common law legal systems of the England and wales basically comprising of
criminal and civil law (Knapp, Crystal and Prince, 2019). As it branches have its own court and
procedure. The law of England and wales is been applicable in agreement where parties will
mainly be adopted jurisdiction of England and Wales as well as the matter for or withing
physical jurisdiction.
There are different branches as
Common law and statue
This have been the common law declared by judges by deriving in form different custom
and precedent which are common and applied to the whole country at equal parameter. this have
inclusion of substantive rules, the offence of murders and procedural ones derives from the
inherent jurisdiction of the court.
Common law and equity
It is historically addicted by the king court and equity developed as seperate legal
systems mainly discretionary remedies administered by the Lord Chancellor, often as a way of
ameliorating the injustice done by inflexible rules of the common law.
Civil law
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It is the legal systems based on different code of law based on the doctrine of precedent
and opposed to the common law system. The types of the civil law are such as
Contract law
This is the concerned with formation and interpretations between companies and
individuals. This will be looking at the disputes in contract whether or not a contract ever came
into existence, what its various terms and conditions actually meant.
Tort law
This have been legally wrong which requires the claimant to have establishments of
‘duty of care’. Tort can be based on the negligence, nuisance, defamation, misuse of private
information, etc.
Company law
This is related to formation and regulation of companies which have separate entity from
individuals (Poole, 2016). This may have discussion on the different claim by creditor or debtor
with regulatory proceeding against covering all matters. So as per the case, all the parties have
the ready to enter into contract. In the first two cases both parties have not entered into the
contract due to the issue in consideration and mutual agreements. But the last contract was legal
agreements which have been broken and need to make the remedy by the seller.
Discussion on different cases
As per the given cases all are tends to be enter into contract but due to not fulling all the
compulsory condition of the contracts has failed. As per the case I, Hilary advertised of selling
printing press at £ 15000 but the Elanor have wrote to sell it in 5000 less. But Hilary have only
offered to get into the 2000 less amount (Cartwright, 2016). In this case the consideration has not
matched. At last the seller have agreed on the given price but the buyer have loosed the interest
in purchasing the product. Hence there is contract to take the legal action under any civil law.
Moving to the case II, Hilary have the wrote Amy sale the office computer for £ 1000. but
the receiver has been idented as the greater level of confusion in order to make the proper
identification of the needs she required. Firstly, she confirmed and contract and later on
suddenly have cancellation on confirmation through the telegram. Hence the contract have flayed
to get into legal binding.
Moving case III, this case have been identified as contract as most the parties have
matched the principle of arrangements. As per the case it can be stated as Hilary will be giving
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here valuable painting of the Trumpeter at only I sterling pound as been the first customers to the
gallery after the commencement of sale. This have been added to free signed print of another
painting. As per this condition is accepted by Oliva who have waited outside the shop for two
days before the sale have taken place. But when the Oliva entered the sale, Hilary told the
painting is no longer available for sale (De Franceschi, 2016). Hence, there is breach of contract
and Hilary is responsible for any loss which have occurred to Oliva due to the breach of contract.
So, there in this case the remedy for breach of contract will be visible.
Remedies available to parties
Whenever there is discussion asked about the remedied or compensation for breach of
contract have been clearly stated for, he compensatory damages. There are several level of
monetary damages such as the compensatory damages in which Hilary will be asked to have the
contractual payment by the breached party enough as much you have promises in the contract
elsewhere (MacQueen and Thomson, 2016). On the other hand, the resituates is another option
as the person that have breached the contract to pay the clear other person backs. In addition to
that punitive damages are the sum of many to be advisable to punish the parties or breaching
party. But this is reserved to only the few cases in which something has been more responsibility
have happened. The last and least in the inclusion of nominal damages. Hence there have been
the breach in contract sit party in the contracts have been suffered. As referred to the case the
Oliva have been been standing outside the shop to open up as gallery which means she can go for
nominal damages as no harm is mentioned in case.
CONCLUSION
From the above file, it can be concluded as Contract formation helps in providing security and
peace of mind in different business dealing to all the parties involved in the transaction. The
agreements made between the two or more parties or business entities have to make the certain
promises to do something in return of gains or advantages which is legally binding. To enter in
mutual contract, it is important for both parties have intention to bound into contract with mutual
agreements. There should be proper avoidance of power, coerciveness and any threat. So as per
the case, all the parties have the ready to enter into contract (Austen-Baker, 2017). In the first
two cases both parties have not entered into the contract due to the issue in consideration and
mutual agreements. There are several level of monetary damages such as the compensatory
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damages in which Hilary will be asked to have the contractual payment by the breached party
enough as much you have promises in the contract elsewhere.
REFERENCES
Books and Journals
Online
Beale, H and et.al., 2019. Cases, materials and text on contract law. Bloomsbury Publishing.
Ben-Shahar, O. and Porat, A., 2019. Personalizing mandatory rules in contract law. U. Chi. L.
Rev., 86, p.255.
Knapp, C.L., Crystal, N.M. and Prince, H.G., 2019. Problems in contract law: Cases and
materials. Aspen Publishers.
Poole, J., 2016. Textbook on contract law. Oxford University Press.
Cartwright, J., 2016. Contract law: An introduction to the English law of contract for the civil
lawyer. Bloomsbury Publishing.
De Franceschi, A., 2016. European contract law and the digital single market. Cambridge:
Intersentia.
MacQueen, H. and Thomson, J., 2016. Contract law in Scotland. Bloomsbury Publishing.
Austen-Baker, R., 2017. Implied terms in English contract law. Edward Elgar Publishing.
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