Law In Business Essay

2151 words - 9 pages

1 . Question 1 :This question presents two scenarios, both of which revolvesaround the issue of whether there is a contract.To solve the legal problem , advise Justin , We need to know :What is "Contract"?"A Contract is essentially an agreement between two or morepersons which will be enforced by a court of law . "(BrendanSweeney & Jennifer O'Reilly , Law in Commerce , Second Edition) .And contract is constituted by four factors :Offer + Acceptance+ Intention+ Consideration= Contract1.1 Part 1.In return for Justin's benevolence of fixing the fence, Leanna decided to pay him fifty dollars. She is making an offer in this instance, and is therefore the offeror. By thanking her Justin has made an acceptance to Leanna's offer of the money, and he is therefore the offeree. So far, this exchange could be construed as a contract because of the existence of an offer and acceptance made through oral communication.However, the problem arises when there's a lack of terms of conditions in their agreement. Without communicating details such as an exact date of when Justin can receive the fifty dollars or any other conditions, their exchange appears more like an invitation totreat. When examined further, we see that as Justin has not provide any consideration, this cannot be a contract, especially as Leanna'soffer is only a gratuitous promise.Ultimately, Justin seems unlikely to obtain a remedy for the fifty dollars that didn't receive, as this was not a binding contract enforceable of the court of law. Leanna hasn't committed any legal wrong , rather the worst she has done is committed a moral wrong .1.2 Part 2.After Justin has agreed to the terms of Rebecca's new offer, Justin promptly paid the relevant amount (half of the money he owed from Rebecca) back to her on the relevant date. As there was an offer made by Rebecca and an acceptance made by Justine, and also with the consideration of the date Justin paied Rebecca the money. they've clearly entered into a contract. As this is the new contract, both parties must be obligated to the terms of the current contract. However, when Rebecca decided to reclaim the rest of the money back due to Justin's financial improvement, she is in fact acting in breach of the contract. So, Justin doesn't need to pay back the rest of the money, or he could protect himself by the law .There's a similar case in the book1: Law in Commerce (Brendan Sweeney & Jennifer O'Reilly, second edition, p142) . "Central London Property Trust Ltd v High Trees House Ltd."In this case, when the plaintiff asked the defendant to pay half of the rent, it seems like he had made an offer in a new contract. The defendant also accepted the offer. But here's a problem: The lessee hadn't given any consideration for it. "The owner's representation was a promise as to a future matter and not a representation as to anexisting fact." So, the "contract" was not admitted. The plaintiff was entitled to return to the...

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