Analysis of Specific Performance Remedies and CSR Obligations

Verified

Added on  2023/06/13

|6
|1819
|483
Essay
AI Summary
This essay explores the interplay between business law and ethics, focusing on specific performance remedies and corporate social responsibility (CSR). It details how specific performance serves as an equitable remedy in contract law, compelling parties to fulfill contractual obligations when damages are inadequate. The essay also examines the motivations and challenges corporations face in adopting CSR, including balancing profit motives with social and environmental concerns. It highlights the impact of CSR on customer and employee satisfaction, brand value, and the importance of coherent CSR policies. The document concludes by emphasizing the need for companies to genuinely engage in CSR rather than using it as a mere marketing tactic, and it invites students to explore Desklib for more resources.
Document Page
Business Law
and Ethics
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Table of Contents
INTRODUCTION...........................................................................................................................2
MAIN BODY ..................................................................................................................................2
CONCLUSION ...............................................................................................................................5
REFERENCES ...............................................................................................................................6
INTRODUCTION
The business law are ethics are the two separate concepts which compliments each other.
But usually the concept does not prevail as usually the forms of business takes the decisions
which are based on the legal terms rather than ethical. Business law is a civil body which
regulate and govern the conduct and affairs of the organisations and their concerned individuals.
Whereas the business ethics is the one which specifies what is ethically right and wrong and
similarly the manner in which the businesses are required to behave. Ethics does not lies in the
specific form rather they are the spirit of law. The following essay is going to cover the remedies
of specific performance along with its limitations(Dagan, 2020). The essay will also cover the
extent to which the corporations are required to take the Corporate social responsibility.
MAIN BODY
1. The specific performance is one of remedy which is available at the option of the
aggrieved party. It is an equitable relief which is being provided by the discretion of the court
against the other party to do the required acts as agreed in the contract. Therefore, the remedy of
specific performance lies in contrast with the remedy of damages, where the aggrieved party is
restored by the way of pecuniary compensation. Moreover this remedy, usually is granted by the
Document Page
way of exception. In the remedy of specific performance the court makes a decree in favour of
the plaintiff against the defendant by compelling him to perform his part of contractual
obligations. Generally the court grants such remedy only in the cases where the damages cannot
justify the adequate remedy. For instance in the case of Fackle v Gray of 1859, where the
subject matter of the agreement which is the Chinese vases was of unique nature and cannot be
restored only by the way of damages. Moreover the general rule for the application of the
specific performance is that it cannot be granted in the cases where the terms or the subject
matter of the contract is vague or are not clearly defined. Similarly, for the cases where the said
agreement asks for the continuous supervision or the performance for a certain period of time
then also the specific performance will not be ordered(Eisenberg, 2018).
Moreover, In order to fetch the remedy of specific performance it is expected from the
plaintiff that first he must satisfy the concerned court with respect to the concern that the said
mentioned damages are inadequate and similarly cannot restore the aggrieved party to his actual
position. For instance in the cases where the transfer of property is required the damages cannot
stand to be the appropriate damages for the party. The relief of specific performance must be
specifically claimed from the court by the plaintiff.
Further, the court in other case of Leune v. Queens Cross Properties Ltd, held that the
remedy of specific performance generally must be granted in the cases where the said
performance is been subjected to in relation of the contracts reason being they deals with the end
results which is the work which has to be complete with the certainty rather than having the
carrying of an activity over a period of time. Also the remedy of specific performance does not
acquires the ambit of the contract which covers the provisions of personal services for instance
the contracts of employment. Such are not included under this remedy reason being the order
made by the court restrains the freed of an individual, which was mentioned in the case of
Chappell v. Times Newspapers Ltd(Ji and Miao, 2020).
2. Corporate social responsibility is an activity of self regulation of business which helps the
company of being socially accountable. There lies no such fix way with respect to the
practice of activity of CSR. Every company can benefit the society in multiple ways by
being the part of this activity,. Mainly these are the initiatives which are taken by the
businesses in order to benefit the society which primarily lies in the three major
categories such as economic, social and environmental. Generally all the companies or
Document Page
organisation at very first instance does not take this responsibility in a serious manner but
now because of the more awareness of this social initiative among the customers the
scenario has changed to an great extent. Also because of the raising concerns of certain
important social issues such as the global worming or the unethical labour practices, the
companies are following a approach of formulating the policies in accordance of theses
concerns in order to raise their sales and brand value. Moreover, the practise of corporate
social responsibility makes a great impact on the business because of number of reasons.
It it seen that the company who is more indulged with the activity of corporate social
responsibility is tends to have satisfied and more happier customers as well as employees.
The primary reason of this can be that the employees who work for company having
more social concern tends to give their employees a sense of purpose(Carroll, 2021).
Moreover, the company which practice CSR tends to spend more in their workers while
also making efforts for creating a working environment to which the employees enjoys
returning to work. Also, the practice of corporate social responsibility has been impacted
in a positive manner by the rise of social media as it made people more aware of the
importance of such initiative on the society. Further as the consumers are more attracted
and wiling to be the part of the company to which they can trust therefore it is required
for the organisations to be the part of CSR initiatives and have a sustainability reports. So
the companies in order to grow and have success in the market are require to practice the
corporate social responsibility. Whereas on the other hand whop fails to b the part of such
activity may be able to face the downfall of the business while having the decreased sales
and also the hampered reputation of the company(Velte, 2021).
Further, there lies the number of benefits because of which the companies are moving
ahead with the path of CSR initiatives but the concern arise with the fact that whether the
companies in actual sense are taking the practice seriously or is it just a way to build the
company's brand value in the eyes of its customers. One of the major benefit is that it helps the
company in building the customers relationships. While creating the positive relationship with
their employees as well as their customers the company can lead to potential gain in its sales
which ultimately results in increasing profits. Further even though the companies has widely
accepted the idea of CSR practices still they are facing the concerns with respect to its execution
because of the reasons of poor coordination as well as lack of logic connecting their several
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
programs. Also it has been seen that the CSR programs one they have been started are run in an
uncoordinated way by the management of the company. Therefore, it is required on the part of
companies to formulate the coherent policies related to the CSR practice. But many a times it
happens that the small companies after starting the initiative tends to drop in between reason
being the overall costs fall on the small businesses in disproportionate manner. Also adjusting
the budget for the purpose of CSR, not always become the cup of the tea for the smaller
businesses. The other concern because of which the companies tends to fail the measure is of the
there can arise the conflicts with the profit motive of the company. The primary duty of the
company lies towards their shareholders with respect to the proper return of profits. Hence
because of this reason the involvement of the enterprise in the CSR initiatives can become the
second choice(Olanipekun, Omotayo and Saka, 2021). The other concern is that the companies
in the name of CSR initiatives are linking their products and services in the wrong manner in
order to increase their sales. Such as for instance, the company has labelled its product named
all natural whereas in real sense the product has been manufactured in the ordinary way. Many a
times the companies also tends to hide their business activities in the name of corporate social
responsibility in order to escape and take advantage of the recessions for paying the hefty sum of
taxes as well as legal implications.
CONCLUSION
From the above essay it can be summarised that in contract as a result of breach the
aggrieved party can be restored in his actual position by the way of remedy of specific
performance. Where the court order the other party to return the concerned thing to the aggrieved
party in the same manner as it was before. Further with respect to the second part of the essay it
can be concluded that the initiative of the corporate social responsibility by society and its social
concerns can be uplifted in various ways. But also the companies many a times in the name of
CSR practices tries to escape from the implications rather than actually being the part of it.
REFERENCES
Dagan, H., 2020. Two visions of contract. Mich. L. Rev., 119. p.1247.
Eisenberg, M.A., 2018. Foundational principles of contract law. Oxford University Press.
Document Page
Ji, H. and Miao, Z., 2020. Corporate social responsibility and collaborative innovation: The role
of government support. Journal of Cleaner Production.260. p.121028.
Carroll, A.B., 2021. Corporate social responsibility: Perspectives on the CSR construct’s
development and future. Business & Society. 60(6). pp.1258-1278.
Velte, P., 2021. Meta-analyses on corporate social responsibility (CSR): a literature
review. Management Review Quarterly, pp.1-49.
Olanipekun, A.O., Omotayo, T. and Saka, N., 2021. Review of the use of corporate social
responsibility (CSR) tools. Sustainable Production and Consumption. 27.pp.425-435.
chevron_up_icon
1 out of 6
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]