Business Law and Ethics - Formation of Contractual Relationships - Management Assignment Help

Assignment Task

TASK 
Formation of Contractual Relationships
The following facts have occurred.
Hilary advertised a printing press in a specialist trade journal for £15,000. Eleanor wrote to Hilary offering to buy it for £10,000. Hilary replied by return of post saying she would accept £13,000. When she heard nothing further from Eleanor, Hilary wrote again saying she would accept £10,000. Eleanor says she no longer wants to buy the printing press.
Hilary wrote to Amy offering for sale an office computer for £1,000. The morning that she received the letter Amy wrote to Hilary agreeing to buy at the asking price. After she had posted the letter, but before it was delivered, Amy changed her mind and sent Hilary a fax asking her to ignore the letter when it arrived.
Hilary decided to have a grand summer sale at her art gallery. She put large notices in the windows of the gallery stating that a valuable painting by Trumpeter, a famous artist, would be available for only £1 to the first customer who came into the gallery at the commencement of the sale, together with a free signed print of another Trumpeter painting. Olivia waited outside the shop for two days before the sale started to be sure of getting the painting, but as she entered the shop, Hilary told her that the painting by Trumpeter was no longer for sale.
Questions for Discussion:
Required:
1. Define contract law and describe all the blue prints of a contract.
2. Explain the court system in relation to the English legal system and advise the parties above which court(s) action to pursue.
3. Advise Hilary as to whether binding contracts exist between herself and each of the following people: Eleanor, Amy and Olivia. 
4. Explain and discuss the various remedies available to the parties

Write your responses to the above questions in the form of an essay. Justify your responses. 
This task addresses LOs 1 and 2.
LENGTH REQUIRED

A maximum of 1500 words. 
FORMATTING AND LAYOUT
Please note the following when completing your written assignment:
1. Writing: Written in English in an appropriate business/academic style
2. Focus: Focus only on the tasks set in the assignment.
3. Document format:Essay
4. Ensure a clear title, course, and name or ID number is on a cover sheet and a bibliography using Harvard referencing throughout is also provided.
5. Research: Research should use reliable and relevant sources of information e.g. academic books and journals that have been peer reviewed. The research should be extensive. 

The use of a range of information sources is expected – academic books, peer reviewed journal articles, professional articles, press releases and newspaper articles, reliable statistics, company annual reports and other company information.All referencing should be in Harvard style.
 MARKING CRITERIA AND STUDENT FEEDBACK – ASSIGNMENT 1
This section details the assessment criteria. The extent to which these are demonstrated by you determines your mark. The marks available for each criterion are shown. Lecturers use a similar format to comment on the achievement of the task(s), including those areas in which you have performed well and areas that would benefit from development/improvement

GENERIC ASSESSMENT CRITERIA

Level 4
In accordance with the Framework for Higher Education Qualifications, at the end of Level 4 students will be expected to have demonstrated knowledge of the basic underlying concepts and principles of a subject, and an ability to evaluate and interpret these within the context of that area of study. They should be able to present, evaluate and interpret qualitative and quantitative data in order to develop lines of argument and make sound judgements in accordance with basic theories and concepts of their subject(s) of study. They will have learned how to evaluate different approaches to solving problems and will be able to communicate the results of their study/work accurately and reliably, and with structured and coherent arguments. They will be able to undertake further training and develop new skills within a structured and managed environment and will have the qualities and transferable skills necessary for employment requiring the exercise of some personal responsibility.

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