Feb 11, · The Future of Business Law and What the Students Will Have to Know to Be Successful Essay The New Trends of Business of Mergers and Acquisitions in the European Union Essay Analysis of the Case "Asden Develpoments Pty Ltd (in liq) v Dinos" Essay How to write an business law essay The following will be a guide to writing an effective and legally sound legal blogger.com, you must do a lot of preparation and in-depth reading and research work, before setting out on writing the blogger.com ILAC format is a framework for organising your answer to a business law essay blogger.com will begin by discussing the qualities of good writing which is Business Law (Contract Law And Estoppel) Introduction A contract is a binding legal document and is enforceable by law and if properly executed can be upheld through a court system. The nature of contracts is to enforce promises made by any given parties to
Business Law Paper Sample (APA Format) - iWriteEssays
A friend was contracted by a businessman to paint his house. The agreement was that he should use green paint to paint the face of the shop. However, the friend used a color similar to green and the businessman refused to pay him.
A question arose as to whether this amount to substantial performance or it amounts to inferior performance. The writer feels that this amounts to substantial performance and not inferior performance since the other parts painted were in accordance with the agreement. The only problem was with the paint used on the front of the shop and this amounts to business law essays performance. In this paper, the differences between inferior performance and substantial performance will be addressed.
The paper will also business law essays at the rights available to the non-breaching party in the case of substantial performance and inferior performance in order to substantiate the position taken on the issue. An overview of the elements of a contract will also be provided. There are six elements of an enforceable contract. For a contract to be enforceable, there must be an offer and acceptance, the contracting parties must be legally competent to enter into a contract, there must be consideration, business law essays, there should be free consent of the contracting parties, the contract must be legal in nature and the contract should have the intention of creating a legal relationship Young, If a contract has all the above elements, it is considered to be a valid contract enforceable in a court of law.
There are differences between substantial performance and inferior performance in contract law. Inferior performance is defined as a material breach of a contract and it happens when one party does not fulfill his contractual obligations.
The remedies available for the non-breaching party are to rescind the business law essays and seek restitution from the breaching party Young, On the other hand, substantial performance means that even if the performance is not equal to the contractual obligations, business law essays is so near that denying the contractor payment will be unreasonable, business law essays. The non-breaching party in the case of inferior performance or substantial performance has the right to withhold payment of the consideration until the work is completed.
He also has the right to sue the breaching party for breach of contract and business law essays the right to avoid future obligations arising out of the contract.
According to the provisions of contract law, the non-breaching party has several options in case of substantial performance and inferior performance. The non-breaching party can claim business law essays damages, can seek court order of specific performance by the breaching party, can rescind or business law essays the contract and can also seek restitution, business law essays.
The non-breaching party is excused from any other performance arising out of the contract. Another remedy available to the non-breaching party is to claim for consequential damages arising out of the substantial performance or inferior performance Young, The non-breaching party is advised to seek legal redress once it becomes evident that the other party has performed substantial work or inferior work.
This can be in the course of the work or after the other party has completed the work, business law essays. Legal address business law essays be sought after efforts reach to an agreement with the other party about the quality of the work has failed Young, According to the analysis, it is clear that the business man was wrong in denying the painter his full compensation for the work done.
There is breach of contract and this amounts to substantial performance since the work done is almost equivalent to the work which the painter had been contracted to do.
The business man should therefore claim for damages or seek an order for specific performance. The business man also has the option of claiming for damages or claiming for consequential damages arising out of the substantial work. Liuzzo, A. Essentials of business law. Need a custom Essay sample business law essays from scratch by professional specifically for you? certified writers online. Select a citation style:. Business Law: Case Study. We use cookies to give you the best experience possible.
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Business Law 101
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Business Law Company 5 Pages Introduction In every corporation, there are some individual bodies who act on behalf of the company and they are known as officers of the company. But such officers need not be a director or employee of the company every time. From every officer of the Business Law (Contract Law And Estoppel) Introduction A contract is a binding legal document and is enforceable by law and if properly executed can be upheld through a court system. The nature of contracts is to enforce promises made by any given parties to Essay On Business Law And Public Law Introduction: Business law, likewise regularly known as business law, is made up of standards, statutes, codes and regulations that administer business connections. Those connections could be either business-to-business or business-to-shopper
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