Essay about business LAW

Submitted By wokankan
Words: 1818
Pages: 8
Open Document
Introduction
This essay relevant breach of contract. Huang owns a home in a suburb of Melbourne. He decides to construct a factory and workshop for his contract which supply of the components. Thus, he employ Bill who is a registered builder to build a factory and workshop. However, Huang lose many money because Bill delays.

This legal issues in this case include Huang just has an oral contract with Bill which is building the factory and workshop for Huang. Huang lose a contract for supply of the components and $150,000 because Bill was unable to finish his work which is building the factory and workshop for Huang and to complete the construction by 1st November. Other issues include negligence, Bill think that the factory and workshop are not important for Huang, and Huang not tell Bill those are important as well. Finally, Huang sue Bill for breach of the contract, and court agree that Huang will gain damages from Bill?

Effective contract
If a contract want to become an effective contract, it has three necessary elements which are offer, acceptance and consideration. According to David & Gerry (2013), the primary element is offer. It is a promise to do or limit from doing something in exchange for something from another party. Second, acceptance is important thing. Acceptance has many rules, firstly, acceptance must be clear, unambiguous and unequivocal. Secondly, the offeror’s requirements must be met. Third, consideration is final element, it is a necessary component in all simple contracts. However, it has five rule and they are:
1. Consideration must exist if a simple contract is to be enforceable.
2. It can be present or future, but past consideration is not acceptable.
3. It must come from the promise, but it cannot need move to the promisor.
4. It need not be adequate.
5. It must be sufficient in the eyes of the law.
Consequently, the consideration is a significant element, if a contract lack of consideration, the contract cannot call “contract”. In a sense, if no consideration, the promise just like a gift.

According to the case, Huang explains his requirements that he needs the buildings to be completed by 1st November. In addition, Bill agreed to build the factory and workshop, and complete the construction by 1st November. Although factory and workshop are delayed by Bill, Bill finished this contract unit February. Therefore, those are able to evidence the contract is an effective contract, so they have rights and obligations.

Discharge of contract
In general, a contract is able to be discharge by six ways. According to David & Gerald (2013) they are:
1. By performance.
2. By express agreement.
3. By reason of a term in the contract.
4. By operation of law.
5. By breach.
6. By the operation of the doctrine of frustration.
According to David & Gerry (2013), when a party to a contract refuses or fails to perform one or more of his obligation under the contract, he commits a breach of the contract, and the usual consequence is that other party is able to cancel this contract.
The prior obligations still have to be performed by both parties and the innocent party is able to claim damages for offeree, when a contract is discharged by breach.

According to the case, Bill agreed that he is able to finish his obligations which is building factory and workshop for Huang, and to complete the buildings by 1st November. However, Bill did not finish his obligations by 1st November, and he still work until February. Thus Bill fails to perform his promise, Huang has a power to cancel this contract and claim damages from Bill. In addition, Bill should still perform his future obligations. Consequently, Huang should sum Bill.

Damages
For remedies for breach of contract, damage is a primary method. If court wants to consider damages, two fundamental problem must be treated. First, this problem is remoteness of damage, because it must consider whether the loss result from the activity complained of by the plaintiff.
Show More

Related Documents: Essay about business LAW

Canadian Business And The Law

Study Guide to accompany Canadian Business and the Law, 5th edition Chapter 6 CHAPTER 6 FORMING CONTRACTUAL RELATIONSHIPS Objectives After studying this chapter, you should have an understanding of • how negotiations lead to a contractual relationship • how negotiations can be terminated • the legal ingredients of a contract • how contracts can be amended or changed Learning Outcomes • • • Understand how business negotiations can result in the formation of a contract or terminate without legal…

Words 3867 - Pages 16

Law and Business Essay

Tiffany Ly Business Law February 11, 2011 Robinson Law and Business Natural law is one of the oldest of its kind. The natural law theory believes that there is a higher law and it applies to all human beings and if a law is unjust then it does not have to be obeyed. Natural law is based on fairness and equity and this can easily relate back to the world of business. One major question that lies in international business is whether or not foreign employees should have the same protection…

Words 620 - Pages 3

Business Law Paper

Business Law Term Paper Legal Analysis of Dating Site User Agreement Chosen Site: eHarmony BUSI 2601B Dr. G. Levasseur March 8th, 2015 Table of Contents I Executive Summary 1 II Introduction 3 Overview and Objectives: 3 Methodology: 3 Business Relationship: 5 III Clausal Description and Explanation 6 Document 1: Privacy Policy (3 pages) 6 Document Two: Terms of Service (five pages) 18 IV Application of Legal Principles 32 V Lessons Learned, Recommendations and Example Scenario 46…

Words 15495 - Pages 62

Essay on Business Law

the Congress can regulate a local business if doing so is in the national interest. This includes situations where the actions of many small businesses taken together could have an inter-state effect. In Heart of Atlanta Motel v. United States case, the court decided that a local hotel would have to comply with federal stature and follow the requirements of the Civil Rights Act of 1964, because it is part of the commerce/travel. Even though it is a local business, the Congress has the power to regulate…

Words 2277 - Pages 10

Essay on Business Law

Business Law “The doctrine laid down in Salomon v Salomon & Co Ltd [1897] AC 22 has to be watched very carefully. It has often been supposed to cast a veil on the personality of a limited company through which the courts cannot see. But that is not true. The courts can, and often do, draw aside the veil. They can, and often do, pull off the mark. They look to see what really lies behind” - Lord Denning in Littlewoods Mail Order Stores v Inland revenue Commissioners [1969] 3 All ER 422.…

Words 1964 - Pages 8

Business Law Notes

Chapter one Business Law Law is a set of rules, enforceable by the courts, which regulate the government of the state and governs the relationship between the state and its citizens and between one citizen and another. There are various ways in which the law may be classified; the most important are: * Public and private law * A) Public law is concerned with the relationship between the state and its citizens. Specialised areas are: 1. Constitutional law is concerned with the workings…

Words 34659 - Pages 139

Business Law Essay

Resources in a Business Context BUS 746 Law Assignment 1A Amit Bhanot S12003170 Question Two ‘Equally, it is recognized that the formal and rather intimidating atmosphere of the ordinary courts is not necessarily the most appropriate one in which to decide such matters. Even where the dispute cannot be resolved internally. In recognition of this fact, various alternatives have been developed specifically to avoid the perceived shortcomings of the formal structure of law and court procedure…

Words 2072 - Pages 9

Business LAW Essay

sovereign power. State regulatory powers are often referred to as: police powers. In an equal protection inquiry, when a law or action distinguishes between or among individuals, the basis or classification, is examined. Depending on the classification, the courts apply different levels of scrutiny or “tests” to determine whether the law or action violates the equal protection clause. The courts use one of three standards: strict scrutiny, intermediate scrutiny, or the: “rational…

Words 980 - Pages 4

Essay Business Law

Name of Partnership: The name of the partnership shall be JDM Lawn Care. Place of Business: The partnership’s place of business shall be at 123 Green Way, Greenwood SC 29649 Purpose of Partnership: The purpose of the partnership are for regular lawn care maintance, landscape design, and project management. In addition to the specific purposes set above, the pupose of the partnership is also to conduct a lawful business in which the partners might come engage.…

Words 3578 - Pages 15

Business Law Essay

Business Law Law- the body of rules that can be enforced by the courts or by other government agencies. Sophisticated Client- Person who understands the role of a lawyer and knows when to represent himself/herself and when to get the help of a lawyer. They understand the cost associated with a lawyer and how the process works. Legal Aid- Legal help for people who cannot afford a lawyer. Civil Law- A list of codes that judges apply to cases. Common Law- Law based on past decisions made by the…

Words 1269 - Pages 6