INTRODUCTION TO BUSINESS LAW

Introduction to Business Law



Introduction to Business Law

Answer 1

There are four requirements which constitute what is generally referred to as the elements of a legally binding contract in this case. If only one of the four elements is not present, a legal bond is not able to be remained effective among Adele and Eddie. Listed below are the four elements of a valid contract;

(1) Agreement: An agreement to shape a contract requires that it contain both an offer and an acceptance. This means that one party must proposition the entrance into a lawful contract; the other party must agree to the conditions and circumstances surrounding the offer.

(2) Consideration: Simply means that any covenant or promises that are made by the parties are required to be supported by legally sufficient and bargained-for consideration. Pledges of gifts or ethical duties are not cogitated to be supported by valid consideration, something of worth such as currency; however is.

(3) Contractual Capacity: Both Eddie and Adele are required to obtain contractual capacity. This refers to persons who are intoxicated, senile, insane, or a minor does not attain the contractual capacity required to ingress into an agreement or contract.

(4) Lawful Object: It is required that the purpose or object of the agreement must be legal. Contracts which go against public policy or that are aimed to achieve illegal activities are void. The intention of the agreement must be to achieve an objective which is lawful and not in opposition to public policy.

Answer two

According to the Unfair Contract Terms Act 1977 there is no one uniform standard of legal liability that applies to all UK business entities. Additionally, there currently is no specific federal law in this particular case study with which a gastro pub must comply. However, there are some general principles that most state courts follow that provide some guidance to help determine if a gastro pub is providing adequate supervision in the eyes of the law. Because these principles may vary from state to state, a gastro pub's legal counsel is the best guide as to whether a gastro pub's particular supervision and emergency care plan will be deemed adequate if challenged in a state's courts.

The law apportions torts into three classes: negligence, strict liability (where one's duty is defined in statute), and intentional torts. Most of what follows deals with the theory of liability that arises in a gastro pub context under the tort of negligence. The most common legal claim that is made against a gastro pub is that the gastro pub was negligent in the provision of that care. In most states, to prove a gastro pub was negligent the person making the claim must establish in court that:

There was a duty of care or obligation recognized by law that required the gastro pub to meet a certain standard of conduct, and

The gastro pub failed to meet that standard, and

The gastro pub's failure to meet that standard caused an injury to the person, and

A true loss or ...