Essay for business law

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But I tried it, and it was successful! I did, and it was great. I like the whole concept of the company! However, it has been always so hard to find that many of us had to write papers for academia by ourselves and get poor.


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Estimated Date:. An overview of the elements of a contract will also be provided. There are six elements of an enforceable contract.

How to Ace a Contract Law Question

For a contract to be enforceable, there must be an offer and acceptance, the contracting parties must be legally competent to enter into a contract, there must be consideration, there should be free consent of the contracting parties, the contract must be legal in nature and the contract should have the intention of creating a legal relationship Young, If a contract has all the above elements, it is considered to be a valid contract enforceable in a court of law.

There are differences between substantial performance and inferior performance in contract law.

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Inferior performance is defined as a material breach of a contract and it happens when one party does not fulfill his contractual obligations. The remedies available for the non-breaching party are to rescind the contract and seek restitution from the breaching party Young, On the other hand, substantial performance means that even if the performance is not equal to the contractual obligations, it is so near that denying the contractor payment will be unreasonable.

The non-breaching party in the case of inferior performance or substantial performance has the right to withhold payment of the consideration until the work is completed. He also has the right to sue the breaching party for breach of contract and also the right to avoid future obligations arising out of the contract. Let's see if we can help you!

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  • According to the provisions of contract law, the non-breaching party has several options in case of substantial performance and inferior performance. The non-breaching party can claim for damages, can seek court order of specific performance by the breaching party, can rescind or annul the contract and can also seek restitution.

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    The non-breaching party is excused from any other performance arising out of the contract. Another remedy available to the non-breaching party is to claim for consequential damages arising out of the substantial performance or inferior performance Young, The non-breaching party is advised to seek legal redress once it becomes evident that the other party has performed substantial work or inferior work.

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    • This can be in the course of the work or after the other party has completed the work. Legal address should be sought after efforts reach to an agreement with the other party about the quality of the work has failed Young,