Assignment On Business Law Assignment

3960 Words Aug 25th, 2014 16 Pages
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Unit name: Business Law 1100

Given name: Elton Aik Yin

Surname: Goh

Student number: 90004481


Assignment title: Business Law Assignment

Date submitted: 25th August 2014

Student’s comment to tutor:

Word Count: 3497

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Part A
Question 1

Step 1: Area of law

The area of law is contract law focusing on the element of agreement.

Step 2: Principles of law

Contract law is defined as lawfully enforceable agreement between two or more people to a contract. An agreement also known as a promise consists of an offer and an acceptance. An offer is defined as indication of the terms upon which an individual is ready to be obligated. On the other hand, an acceptance is the agreement of the terms that have been offered. The parties associated with the agreement are known as an offeror or an offeree. The offeror is the one who makes the offer, and the offeree is the one accepts the offer (Curtin College 2014).

For an offer to be satisfied, there are rules to be considered. The offer has to be complete, promissory, intention to undergo a contract when accepted, and focused on an individual or a group. In addition,…
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