Sample Assignment on Business Law and Ethics (GC01737)

Table of Contents

1.0      Introduction.

2.0 Discussion.

2.1 Define contract law and describe all the blueprints of a contract

2.2 Explain the court system in relation to the English legal system and advise the parties above which court(s) action to pursue.

2.3 Advise Hilary as to whether binding contracts exist between herself and each of the following people: Eleanor, Amy, and Olivia.

2.4 Explain and discuss the various remedies available to the parties.

3.0 Conclusion.

References.

1.0     Introduction

According to Allen and Overy (2018), the term “Contract law” is set up by the government authority of a country. With the help of contract law, the contract between two or more persons occurs (Catherine, 2018). This law is also used when the contract has violated the law. This report focuses on the main ingredients of contract law and the ways by which contract is created. Sweet and Maxwell (2019) stated that this law is also very important to ensure the rights of the contractual parties. This law also is implemented by the court for solving disputes among the contractual parties. The court has four bodies to solve the disputes between two parties. In this contract law, the government set up the process of creating contracts and instructing legal actions to solve the disputes of breach of contract. This report discusses the definition of the law of contract and its blueprints. Then, it evaluates the court system related to the English legal system and advice the parties to pursue. Then, this report suggests Hilary solve the contractual factors. Finally, this report describes the different remedies for the parties of the contract.

2.0 Discussion

2.1 Define contract law and describe all the blueprints of a contract

Bonell (2017) stated that English contract law indicates the main structure of law which is set up by England and Wales. This contract law regulates the contract that occurred between the different parties. This contract law has the root of Lex mercatoria and the activism of the judiciary is regulated by this law. The term contract is defined as the legal agreement between two parties where one party offers and another party has accepted the offer. The contract can happen with the free consent of both parties (Sweet and Maxwell, 2019). In the case of the modern law of contract, the main base of the contract law was started from the industrial revolution time. In the case of European contract law, It had a connection with Ancient times as well as Roman law. The agreement which is enforceable by law is considered a contract in European contract law. The main ingredients of the contract include a free consent agreement, valid intention along consideration (Bonell, 2017).

Therefore, the prime element of the contract is the agreement between two parties on the basis of valid purposes. In the agreement process of contract, one person has to give an offer and another person has to take the offer. After the acceptance of the offer, the agreement occurs. This agreement has termed a contract when it is created under legal intention and fair consideration of the parties. Additionally, free consent is highly needed to make a fair contract. These ingredients of the contract are described in detail below:

Offer: the offer is one kind of willingness of giving something in respect of another thing (Phillips, 2018). The party who makes an offer is called the offeror. There must be a lawful offer by one person to another for creating an agreement.

Acceptance: There must be a lawful offer by one person and lawful acceptance of the offer by the other person(Phillips, 2018). Without acceptance, a contract can’t be created. The party who receives the offer is called the offeree.

Intention: There must be an intention to create a contract between two persons for a legal relationship(Phillips, 2018). The intention must be legal otherwise the contract is not enforceable by law.

Consideration: In a contract, there must be lawful consideration. It is considered that no consideration, no contract. The term consideration indicates that something given or received(Phillips, 2018). The consideration may be past, present and future but it must be required to make valid the contract.

Free consent: An agreement must be made on the basis of the free consent of all the parties(Phillips, 2018). If consent is affected by coercion, influence, mistake and fraud, the consent is not valid and the contract is not also considered valid………………………

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