Analysis of Contract Formation and Incorporation in Business Law

This essay provides a comprehensive overview of contract law, focusing on contract formation and incorporation. It begins by defining what a contract is and then explores the essential elements required for a valid contract: offer, acceptance, consideration, and legality. The essay then analyzes a case scenario involving Angharad and Bride, assessing whether a contract was formed based on their communications and actions. It concludes by discussing the rights and responsibilities of parties under contract law, including the concepts of good faith and fair dealing, and various rights such as timely payment, ownership, and the right to litigate. The essay uses relevant examples and references to support its arguments, providing a clear understanding of contract law principles.

Contract Formation &
Incorporation

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
What is contract...........................................................................................................................3
Condition to form contract..........................................................................................................4
Advise Angharad and Bride over contracts, if any has been formed within this negotiation.....5
Rights and responsibilities under contracts ................................................................................5
CONCLUSION................................................................................................................................6
REFRNECES ..................................................................................................................................7

INTRODUCTION
Contract laws are one of the most important law that has been brought into existence in
order to make an agreement attain validity within the contract. These laws are having tendency
upon impacting transaction which has been affecting process in an organization. Such laws helps
in preparing of concrete framework that makes parties bound over obligations upon which both
parties has agreed to. In this file an essay has to be written upon contracts and its incorporation
regarding the given case scenario.
MAIN BODY
What is contract
Contract laws are those laws that has been enforced by laws in order to make an
agreement within the parties attain legality in the eyes of law. In this promise may be done over
refraining something that has to be done. These laws helps in operating of monetary transaction
in smooth an appropriate manner. As per these laws if one party fails to keep promise then the
other party can take action of claim against the party who committed wrong. Law of contract is
mainly an agreement this is to be justified with the help of statement that “all agreements can be
contract whereas all contracts cannot be agreement”. Such statement justifies that contract is
formed on the basis of agreement (Loos, 2016). Further these laws helps in dealing over
compensation that made injured party to attain compensation in the form of remedies that is
given within the laws. These are that body of law which helps in governing, enforcing and
interpretation of agreements which is in relation to exchange of goods, services properties and
money. According to contract law an agreement is formed within parties that include two or
more then two persons over business entities. These are formed for a common motive to earn
advantage which has bound in legal manner. In this various kinds of obligation is also discussed
that helps in contract forming possible between two organizations. Contract law are the laws
which makes business dealings and other form of business activities to be done in smooth
manner. Such kind of laws is been used by business organizations commonly. An contract can in
written and unwritten form because contract can be formed through mutual understanding or by
promise also.
Further these laws make governing of contract at federal, state and local levels of an
country or state. They are bound by the civil laws as it branch of civil law. Such laws is govern

due to its jurisdiction and provisions of law . Also these are formed to deal over disputes to be
solved that has arisen. Many contracts also specify how a dispute is to be dealt with, often stating
that the parties will use arbitration, rather than go to court over a dispute
Condition to form contract
Contract laws are to be formed with the help of various elements that is related to it
which makes validity of the contracts. If any of the element is absent then an contract cannot be
executed. For making contract to be more valid then elements like offer, acceptance,
consideration and legality has to be present within it. Further the elements related to contract has
been explained as follows:
OFFER: In this an offer is been made by party to another party. Offer is related to an
expression upon willingness over entering within contract made through parties. This is required
to make establishment of contract possible as it makes an party listen about idea that has been
presented by another party. An offer can be wage or invokable. Person making an offer is known
as offeror.
ACCEPTANCE: This is another important element that makes initiation of contract
possible between parties willing to come into contract. As per it only an party is agreed upon
offer that has been presented. Acceptance cam also be termed as “meeting of minds” within the
parties to be contracted. In simple sense an acceptance is done over the offer made by one party
but accepted by both the parties. Silence cannot be amount to acceptance which means there
should be communication between parties in relation to offer (Huang and et. al., 2019).
CONSIDERATION: It is third element that has to be presented while forming an
contract. In this both the parties discuss about all the conditions which is important in relation to
contract. In simple manner all the points is been discussed by parties for making transparency
while the contract is brought into action. Consideration is an act done by each party that makes
exchanging of valued information conveyed by parties. For example A sells A’s automobile to
B. A is exchanging and giving up A’s automobile while B is exchanging and giving up B’s cash.
Both parties must provide consideration.
LEGALITY: This is the last element which makes an contract to be attained legality in
the eyes of law. Legality is basically related to law existing in an country and has been enforced
within it. It defines legal status of contract by making agreement to be legally binding upon both
parties. Contract is been enforced when the intention behind its formation is legal and parties has

made obligations as per the law in relation to contract. This can be understood with certain
examples that agreement within family members to go out for dinner with one member is legal
but the intention behind it is not legal in binding terms. Also another example for illegal contract
is agreements related to bribing, drugs or betting are not legal activities. So, contract formed on
the basis these condition is not valid within the eyes of law (Peari, 2019).
Advise Angharad and Bride over contracts, if any has been formed within this negotiation
As per the case scenario it can be observed that Angharad has been running a building
business and makes advertisement to be printed in local and online both. Bride contacts
Angharad for building a wall in her garden and provide description and drawing upon it. The
response shown by Agharad with price quoted to be five hundred euros in writing. In this an
condition has been added that offer is only open for 10 days period and Bride responded over the
offer saying that quoted price cannot be accepted. Few days later giving it a second thought
makes quotes to be accepted. Angharad makes price now six hundred euros.
From the scenario it can be observed that not contract existed through there was
acceptance but later on it was refused by Bride. Related to second condition there was nor
acceptance that has been made by the party. In this offer exists but acceptance has not been made
which makes contract to be null void in both circumstances.
Rights and responsibilities under contracts
Contract right are those rights which is been possessed by parties which makes
involvement over fair dealing to be existed within contract. Such concept known as good faith
which makes dealing and requirement used in every contract (Guo and et. al., 2020). Good faith
and fair dealing states that every party involved is to act honestly and in good faith during the
contracting process. In this no party is allowed to do an act which makes prevention over
purpose of contract been formed. Such clause has been added to contract then parties involved
should make reasonable effort performed by making honest dealing possible over parties through
discussing essential of contract. A person is only to enter a contract that they believe, in good
faith, they will be able to fulfil. Certain right that has been given within the law of contract are as
follows:
 These rights has been making timely completion of monetary payments over product and
services provided through contract.

 Then comes right to have elusive ownership which is related to product, label and
material.
 Rights of making reselling through transfer in it an agreement which is made is based
over specific circumstances. It is dependent over agreement formed.
 The right to litigate or file a lawsuit over a contract dispute, especially over breaches of
contract.
In this case scenario it can be observed that not contract exists between parties since
acceptance is not there. So, such rights is not applicable over the scenario (Colegrove and et. al.,
2016).
CONCLUSION
From the above essay it can be concluded that an contract laws are the laws that has been
enforced between parties in order to make an agreement attain legality. Further in this file
various elements related to contract has been explained. Then case scenario has been explained.
In the end rights existing in contract is been covered.

REFRNECES
Books and Journals
Colegrove, E and et. al., 2016. Phosphorus diffusion mechanisms and deep incorporation in
polycrystalline and single-crystalline CdTe. Physical Review Applied. 5(5). p.054014.
Guo, B and et. al., 2020. Spectroscopic and first-principles investigations of iodine species
incorporation into ettringite: Implications for iodine migration in cement waste
forms. Journal of Hazardous Materials. 389. p.121880.
Huang, S and et. al., 2019. Promoting highly reversible sodium storage of iron sulfide hollow
polyhedrons via cobalt incorporation and graphene wrapping. Advanced Energy
Materials. 9(33). p.1901584.
Loos, M., 2016. Art. 70–71: Incorporation and Making Available of Standard Contract Terms.
In Contents and Effects of Contracts-Lessons to Learn From The Common European
Sales Law (pp. 179-202). Springer, Cham.
Peari, S., 2019. Governance in practice: Challenging the place of incorporation rule. Governance
Directions. 71(6). p.305.
Shinozaki, K and et. al, 2016. Suppression of oxygen reduction reaction activity on Pt-based
electrocatalysts from ionomer incorporation. Journal of Power Sources. 325. pp.745-
751.