Business Law Coursework Example | Topics and Well Written Essays - 2000 words

Business Law - Coursework ExampleA use up is defined as an musical arrangement made with an pattern to create legal relationship between two parties in order to interchange some form of considerateness (Uher & Davenport, 2009). Basically, in English Law for a contract to be initiated, in that location should be an offer and an acceptance. Both the offer and acceptable must give rise to the exchange of consideration under terms that are clearly spelt out in clear terms (Young, 2010). Also, twain parties must have the legal capacity to contract (be over 18 years old and be of a sound and uninfluenced mind). And the consideration to be exchanged should be legal in the law. Additionally, on that point should be an intention to create a legal relationship. In Smith V Hughes 1871 40 LJQB J221 it was seen that the intention to create legal relationship idler either be expressed or implied when one partie conducts himself in a way that the other might reasonably imply to mean an int ention to create a legal relationship hence a contract. Consideration is an important requirement in English Law. A consideration is at thing of value, that a person exchanges for another thing of value in a contract. Treitel, (1988) bases on this and states that a contract gives rise to rights and responsibilities for each party in a contract. ... Breach of Contracts A contract is breached if one party introduces a fundamental change which is unacceptable to the other party. Morris et al (2007). In practice, when a person fails to do as promised in a term of a given contract, on that point is a breach of contract. In Johnson V Agnew 1980, there was the failure of one party to discharge what was promised in the contract. This led to a breach of contract which was due to the failure of one party to discharge his debt instrument as promised and according to the terms of the contract. In effect, the other partys rights accrued under the contract were limited because after discharging his responsibility, the other party failed to give him the consideration due to him. Obviously, this led the aggrieved party to leap out several hardships which would not have occurred if the other party had discharged his duty as promised. In such(prenominal)(prenominal) a case, the aggrieved party can go to court and seek some kind of restitution. In such a situation, the court will decide on a remedy for the aggrieved party based on the facts of the case and pass a judgement on the case (Morris et al, 2007) Damages for the Breach of Contract The commonplace remedy under English commercial law for a breach of commercial contract is an purity of damages (Whincup, 2006). This therefore means that in most cases, where some kind of damages can be awarded to an aggrieved party in a contract to restore him to his former position, the court will normally tolerate that. In Robinson V Harman 1848 Ex Rep 850, the landmark ruling was that where a party sustains a release by reason of a breach of contract, he is so far as money can do it, to be placed in the same situation ...as if the contract had been performed. This