Notesale: Turn your study into money

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Business Law
Module: Introduction to Business Law BM2210/BS1106
“The common law developed the law of contract to allow certainty and freedom in commercial
dealings
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”
Q1 Sources of English Law:
Law was created with the intention to resolve problems that were caused during businesses
specifically in marketplaces (Richard Walters Lecture 1)
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There
are many sources such as statutes, EU Law, Common Law, etc
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Legislations holds the greatest authority
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If the bill passes all the
readings at the Houses of Parliament, it will receive a Royal Assent which declares that it can
become a statute
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There are different types of statutes;
Codifying Acts, which is bringing all the law together
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Rewritten acts are rewriting the acts that are in the antique
language
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The Parliaments hold the greatest power due to sovereignty of Parliament; they can delegate their
powers to lower bodies to develop legislations for detailed matters which the Parliament doesn’t
have time to look over at
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Statutory Instruments are legislations passed by government minister
under the enabling Act
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These can also be used by the government
to release emergency legislation
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Bye-laws are regulations made by the
local authorities under the enabling act, they are made by local authorities such as councils, local
police etc
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The way in which statutes are interpreted can also be considered as a source of English Law
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Statutes are hard to interpret as they can have more than one meaning and they can
be vague sometimes to apply to a certain offence
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There are four ways to interpret statutes; literal rule (literal view of the
words), golden rule (literal meaning unless absurd result), mischief rule (aim of the act) and
purposive rule (purpose behind the statute)
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Common Law is also a key and the oldest source of English Law
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Instead, the judges would give out their
rulings and record them in a yearbook which would then be shared with all the other judges for
similar cases that might come in their jurisdiction
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However, there were problems with this so case law and law of
equity were developed to go alongside with the common law
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Case law was also developed along with common law to keep the consistency in the decisions of
the courts
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Judicial precedent is that the decisions made by the highest power court should be bound by the
courts below it
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The other two principals involved
are ratio decendi which is the reasoning of the decision and obiter dicta is the remarks made by
the judge, it is not part of the binding precedent
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It was developed after World War II to protect human rights
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Human Rights has also helped developed English
Law in some ways by creating different articles and sections
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When EU Laws applied,
it would’ve been at the top of the hierarchy system when any conflict
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Q2) The necessary ingredients for an enforceable contract: and the rights of persons who are not
party to a contract
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The
concept of contractual relationships first surfaced during French Revolution where the French
population rebelled against the king for the freedom to have private property (Daniele Lecture 3)
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By 16th century common law developed
a framework for the agreement to be enforceable and implemented the principle of consideration
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Bilateral is contract between two parties,
unilateral contracts is an offer on a large scale
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e
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For a contract to be enforceable 7
elements need to be achieved which are agreement, consideration, intention to create legal
obligations, formalities, capacity, certainty, and genuineness of consent
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An offeror would make an
offer to another party which when accepted would form an agreement
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For acceptance there must be communication through post, telephone, Fax etc
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If they assume an
invitation to treat as an offer the contract is not legally bound like in Fisher v Bell [1968]
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Considerations are either executed, executory or past consideration
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Similarly pre-existing obligation
does not require new consideration
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e
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Consideration needs to be either money or of monetary value i
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, time, if not then there is no
contract
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However, if contract made as deed, then no consideration needed
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For a contract to legally bind each
party involved in the agreement must have the intention to create legal relations
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For business & commercial contracts there is
presumption that there is intention from parties to make contract, as for social & domestic the
presumption is that they do not have intention
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e
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Some formalities need to be fulfilled in order to enter the contract such as in law of
property Act 1989 section 2 (1) states that contract for sale or disposition can only be made by
writing or S (1) conveyance of a legal estate in land must be made by deed
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Capacity looks at the persons mental capacity to understand the terms of the contract when
entering it and with whom they are entering it
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Other than that, other contracts will
either be voided or become voidable
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The offer and acceptance is clear and certain
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Genuineness of Consent ensures that consent given is genuine
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The contract will nullify if the consent given is under
duress which means consent given under threat or physical violence
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e
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Law of contract was developed to protect the private interest of parties and provide freedom to
their interest
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However, there might be cases where a contract affects another party who
is not included in the contract
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But the third party has to be identified within the
contract for this to hold true
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They need to be understood by the parties involved as they
identify the promises agreed
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Expressed terms are added by the offeror, these terms need to be written clear and distinct, they
cannot be too ambiguous as the contract will be nullified
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Whereas implied terms are added in the contract due to a statute or common
law or by custom such as Sale of Goods Act 1979 or Consumer Rights Act
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Due
to this, offeror can add exemption clauses which seek to exempt one’s liability
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They need to be written clear,
unequivocal and before the offer is accepted
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The validity of the clauses is controlled in two ways by common law or statutory law
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In the
document it would usually state a phrase like ‘by signing I agree to …’
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The Unfair Contract Terms Act 1977 is a statute which can restrict or nullify the exclusion of
liabilities in a non-consumer contract
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Section 2 (1) states that the offeror cannot exclude or restrict
liability for death or personal injury due to negligence
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Section 65 of Consumer Rights Act 2015 also provides the same protection where the offeror
(trader) cannot exclude or restrict the liability for death or personal injury resulting from
negligence
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Parliament must intervene to protect the rights of the offeree as the terms made by the offeror
can be unreasonable and avoiding the responsibility when they breach the contract themselves
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Parliament has the power to add
protection statutes for consumers and non-consumers who might become victim of offerors action
i
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, negligence
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Handouts week 3
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MACINTYRE, E
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Business Law
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England: Pearson
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2022
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[ONLINE]
Available at: https://www
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net/free-law-essays/constitutional-law/explain-the-sourcesof-english-law-essays
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[Accessed 12 April 2022]
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poderjudicial
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2022
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[ONLINE] Available
at: http://www5
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es/secp1011/Documentación%20Inglés/DOSSIER%201%20THEORY/LEGAL%20MATTERS/The%20sourc
es%20of%20english%20law
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[Accessed 12 April 2022]
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2022
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[ONLINE]
Available at: https://www
...
net/free-law-essays/constitutional-law/explain-the-sourcesof-english-law-essays
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[Accessed 12 April 2022]
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2022
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[ONLINE]
Available at: https://www
...
net/free-law-essays/constitutional-law/explain-the-sourcesof-english-law-essays
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[Accessed 12 April 2022]
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2022
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[ONLINE]
Available at: https://www
...
com/topic/contract-law
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An enforceable contract: the key elements
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An enforceable contract: the key elements
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wrighthassall
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uk/knowledge-base/an-enforceablecontract-the-key-elements
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www
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org
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No page title
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a4id
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pdf
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