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Business and Corporation Law Assignment Help
This assignment is solution of business and corporation law assignment help In which focusing on the business law and rules and regulation of a corporation.
In accordance to the provided requirements of the given assignment an initiative shall be shortly undertaken to explore the legal aspects of the provided case. The subsequent segments shall incorporate an analytical review of the provided case scenario. Apart from this an illustrative note shall be put forwarded citing the most applicable legal principles that can legally justify the given case scenario. However along with the incorporation of case analysis and legal research the concluding segment of this assignment shall emphasis to summarize the case detail and the applied legal guidelines.
The provided case details are found to depict a scenario of a business deal that has been pursued with legally binding to the business contract law. The case centered around two subject individuals name Peter and Wendy. The subject named Peter was recognized as the owner of a construction company while the subject named Wendy was represented as the owner of the truck business. With reference to the case scenario a business deal was observed to be incident whereby the subject named Peter expressed his consent to purchase a heavy duty truck from Wendy at a price of $300,000. The model of truck decided to be purchased was ‘Mercedes Benz 5000.’ The business offer was also found to be accepted by Wendy. The entire business dealing was fixed over a telephonic conversation. A contract letter was also reached Wendy from Peter’s side on 5th November that was signed by Wendy. But on the delivery day of the truck Peter was found to approach Wendy with an intention to modify the contract. The delivered truck was found not to meet the technical specifications as mentioned in the contract as the delivered truck was without any heavy duty suspensions. Also the letter of acceptance was found to reach Peter by 10thNovember. As the delivered good was not in compliance with the requirements mentioned in the contract a refusal to pay the price was expressed by Peter’s side on which Wendy the observed to file a legal case for $300,000. It is also important to mention that Peter earned a profit of $10,000 per week from each truck and this unwanted issue was responsible for a business loss of $20,000 as Peter took two weeks to find another heavy duty suspension truck.
Legal implications of the case
In order to advice Peter with respect to his legal position in the above mentioned case it is important to understand that the provided scenario is a clear case of breach of contract whereby the buyer was found to be penalized. In this case the offeror was Peter and the offeree was Wendy. Looking closely into the case scenario it was observed that both the parties owned the legal capacity to enter into a business contract and intention to enter into the legal contract was also evident (Beale, Bishop and Furmston, 2008). Further clear indication of offer and acceptance was also observed whereby the signed consent of the acceptance letter can be represented as the primary evident. The case can be identified as a breach of contract because the truck delivered to the buyer was not with heavy duty suspension and hence failed to meet the specifications mentioned in the contract letter. Also it is important to highlight that Peter communicated the revocation to Wendy but ignorance was observed from the offeree’s side (Burrows, 2013). Also this case partially reflected the presence of ‘meeting of minds’ also it is important to mention that “an acceptance cannot ‘mirror’ an offer if the acceptance is made in ignorance of the offer.” The case can also be exemplified as a termination of contract because of the conditions made in the offer was not fulfilled. Hence it is justified to mention that this case has illustrated a material breach and that has subsequently led to the incident of economic waste.
As it is clearly observed that Peter the offeror subjected to a business loss of $20,000 he is legally entitled to claim for the financial loss made and is also eligible to approach the higher legal; authorities for claiming a compensation (Peel and Treitel, 2010). Hence the subject named Peter can be advised to file a suit for ‘Quantum Merit’ that means ‘As much as earned.’ The Section 65 and Section 70 can be considered to be applicable in this particular case. By filing this legal suit the offeror is applicable to claim for the compensation of the loss that he had to face due to the breach of contract (Kennedy, 2008). However with respect to Peter legal position in the above mentioned case the clear indication of tort of ignorance towards contract liabilities has been clearly indicated by the opposite party and this can be considered to be a positive point for Peter to claim compensation. As it is clearly observed that the seller party has performed a performance breach with respect to the contract made the buyer party in this case Peter is legally entitled to rescind the contract and need not to perform his part of performance. Hence it is justified to advice Peter either to rescind the contract or claim a compensation suit based on “Quantum Merit” (O'Sullivan and Hilliard, 2012)
To conclude with an extensive analysis of the given case scenario has been made that subsequently helped in providing a better understanding to the case. With reference to the case analysis performed in the previous sections it is essential to mention that Peter’s legal position in this case is stable and the subject cannot be defeated by the case filed by Wendy. A clear evidence of ignorance to the contract liabilities along with a material breach of contract can be considered to favor Peter’s legal position. Therefore the accused subject Peter is legally entitled to file a compensation claim based on the principles of ‘Quantum Merit.’ However it is justified to mention that Peter may also approach the local authorities of the Consumer Protection Act and convey his grievances and loss made in business as a result of the contract breach that has occurred.
For more read of corporataion law
- Beale, H., Bishop, W. and Furmston, M. (2008).Contract. Oxford: Oxford University Press.
- Burrows, A. (2013).English Private Law. Oxford University Press.
- Kennedy, C. (2008). The business privacy law handbook. Boston: Artech House.
- O'Sullivan, J. and Hilliard, J. (2012).The Law of Contract. Oxford: OUP Oxford.
- Peel, E. and Treitel, G. (2010). The law of contract. London: Sweet &Maxwell Thomson Reuters.