Assignment 2- Introduction to Business Law

INTRODUCTION TO BUSINESS LAW

A discussion as to whether the conversation between Sam and Rob on the morning of October 19 , 2006 contained a consensus (an offer and acceptance or agreement ) sufficient to support a contract

Sam had been engaged by Rob to paint the interior of his door hence they had entered into a contract . The painting began on October 16 , 2006 and on the morning of October 19 , 2006 when the painting was almost done Sam was further engaged by Sam to collect for him a piano that had been

at the Sam 's neighbour in preparation for his daughter 's birthday the following day

The conversation between Sam and Rob constituted into a contract According to law of contract , a contract is usually an agreement between two or more persons which is intended to create a legally binding obligation . The word binding is used since there are some contracts which are valid but are not enforceable in a court of law . For a contract to be enforceable , it must fulfil the following essentials of a contract . These include

That there must be an offer and acceptance

There must be an intention to create legal relations

There must be a consideration or the contract must be under deed

There must be contractual capacity

There must be genuine consent , i .e . the consent must not be obtained through mistake , misrepresentation , duress or undue influence

The object of the contract must be lawful

As for the case discussion between Rob and Sam , a contract was entered into to collect a piano that was at the neighbours place . The contract was binding and therefore enforceable since Rob made an offer to Sam to collect the piano for him which he accepted when he replied that there were no worries meaning that he had accepted the offer and he would collect the piano . For this case , the contract became binding since there was one clear element of a valid contract that states that for contract to be valid , there must be an offer and an acceptance . Rob was the offeror while Sam was the offeree . Rob made an offer to Sam to collect for him a piano at his neighbour 's house in preparation for his daughter 's birthday the following day

According to the law of contract , an offer may be made to a specific person or to any member of a group of persons or to the world at large but it cannot form the basis of a contract until it has been accepted by an ascertained person or group of persons . If X makes an offer to Y , it is specific offer and Y is the only person who can accept it . But in many cases , it is immaterial to whom the offer is made . Offers made by advertisement are the commonest form of offers made to the world at large , and can be accepted by anyone just by acting on them . A for the case of Sam and...