BLO1105 Business Law

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BLO1105 Business Law

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BLO1105 Business Law

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Course Code: BLO1105
University: Victoria University

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Country: Australia


Question 1
Sam indicates that would be a good price but asks Josie to hold the painting so his wife could also look at it and approve his decision. However, Sam points out that the earliest his wife could do so would be the following Tuesday, 21 February. Josie said that would be fine and gives Sam a form that reads:
The following day, Monday 20 February, Wendy, an art enthusiast, visits Josie’s studio and is very impressed by the same painting. Without haggling over the price, she buys the painting for $ 900 cash and takes it away with her.
The same day, Josie phones Sam and leaves a message on his answering machine saying that the painting has been sold for $900. Sam does not return the call, apparently unable to retrieve any messages due to the machine being faulty for the past few days.
On Tuesday 21 February, Sam told his wife about the painting and she is very enthusiastic about it. She tells Sam to go ahead and buy it for $800. At 10 am that day Sam telephones Josie and after only managing to greet her, he is cut off as Josie’s telephone goes dead due to a flat battery. Sam is unable to continue the conversation and Josie does not attempt to call him back. Instead, an hour later, Sam decides to post a letter to Josie formally accepting Josie’s offer. The letter arrives in the mail at Josie’s house on Thursday, 23 February.   

Advise Josie whether there is a binding contract with Sam.

For the purpose of this part only, assume a contract had been formed between the parties. Explain briefly whether a breach of contract has occurred and identify the remedies that might be available.

Question 2
The rule in Pinnel’s case expresses the requirement for consideration in simple contracts. Generally, the rule works sensibly and fairly, but there are some situations when it does not.
Details of the task 

The assignment is to be completed individuallyand requires students to undertake their own research of academic materials outside of those prescribed or provided in the unit as a basis for their completed assignment (e.g., legal journal articles, case summaries, other texts). 
Students must read and follow all instructions carefully and familiarise themselves with the VU Academic Integrity and Plagiarism policies. 
Question 1 of the assignment should be writtenusing the IRAC method. Question 2 should be written in the style of an essay.
Statements should be supported with appropriate references to Australian law (cases) and relevant articles/journals. Students should be wary of using internet sources that are not of acceptable academic standard. 

The potential topics covered in the questions include topics up to Week 4, as well as one other topic beyond Week 4.
Students are expected to review the topic (i.e., lecture materials and relevant chapters of prescribed text) as well as to conduct more in-depth research into the topic using a variety of reputable academic resources. 
It is recommended that begin researching the assignment as early as possible. A marking rubric for this task will be made available in the Assessments module of this space. 


Question 1
Contract is done between two people Sam and Josie on 19th February Sunday. Josie is the offerer who has given invitation of treat for a painting of Sunflower for $900. Sam counter offered the rate of the painting and asked to sell the painting in $700. Lastly the rate was finalised into $800.
A written contract was formed between them. In the contract the term was mentioned that the offer will expire on Tuesday 21st February at midnight. If the time is missed then Sam will lose the chance to buy the painting. On 20 February Wendy bought the painting from Josie at $900 and due to several circumstances it was known to Sam on Thursday. In such case the contract’s terms has been breached. It is mandatory to fulfil all the rules and regulations of the contract which has not done by the offeror.
Contract has been formed between the offeror and the offeree. Issues rose because the offeree demanded more time for accepting the offer. It was written in the terms of the contract that within the midnight of Tuesday 21st February the offer is needed to be accepted but the issue rose when the offerer himself beached the term of the contract. In a contract if a term is breached, then it is known as breach of contract. For the appropriate price and quick selling service Josie breached the contract which is against law.
In this case question arises:

Is breach of contract done here?
What remedies can Sam take for breaching the terms of the contract?
Are they legally bound?

In this contract terms and conditions has been mentioned. In the contract the offeror has decided to sell the sunflower painting for $900. This was invitation of treat which was given by Josie. Sam like the painting but he counter offered and lastly the rate of the painting was fixed into $800. In the terms it was clearly mentioned that the offer is valid till Tuesday night 21st February. Meanwhile on Monday he sold the painting on $900 to Wendy. By doing this action he breached the terms which was made by him. It was his liability to maintain the terms of the contract but as he breached the contract terms so penalty has to be given by him to Sam.
The contract was legally bound, so in this case Sam and Josie was legally bound in a contract and in certain situation Sam can ask remedies from Josie for the breach of contract. If a contract’s terms are breached then the remedies which Sam can take from Josie are Rescission of contract, suit for damage, suite for injunctions, and suit for specific performance.
The remedy which can be taken for the contract is recession of contract. If the terms of the contract are not met then recession or termination may occur in certain scenario. Another remedy which can take for the breach of contract is punitive damage. Punitive damage may be taken for the breach of contract. As Josie reached the contract so for the wastage of times has been faced by Sam. In such case it is necessary that Josie should have given much more time to Sam and that is the reason that Sam has accepted the offered through online on Tuesday morning at 10 am. In this case Nominal damage can be asked byte non breaching party Sam from the breaching party Josie. It is necessary that several influences are needed to be matched through which the features of the contract are met.
As specific performance is fixed with the different aspects so there are different structures which are analysed in the contract, so it is necessary that all the conditions of the contract should be appropriately fulfilled. Cancellation and reinstitution must be taken as a remedy of contract. It is discussed that different structure of a contract is needed. As breach of contract is done, so it is necessary that while forming a contract certain regulations of the contract is needed to be fulfilled. In this particular case punitive damage, termination of the contract and reinstitution of the contract is done. In this case there are different structures which are needed to be fulfilled for carrying forward the rules of the contract.
In the contract document, it was mentioned that nominal damages can be taken by the plaintiff from the defendant because it was not a very crucial breach of contract.
As the contract was legally bound, so in this case it is necessary that different perspectives are needed to be fulfilled which is the main reason that the contract was terminated. In this contract there are several rules but it was not intentional breach of contract. When Josie wanted to inform that to Sam, several problems came at front of them. It is necessary that several terms of the contract should be fulfilled by both the parties but the offeror breached the terms of the contract which is the main reason of the reinstitution of the contract.
As Josie has not kept his word and because the end of the offer time he sold the painting to Wendy in high rate. This is also a kind of falsification which is the reason of the breach of contract. Josie has done falsification with Sam which is the reason that several problems occurs. In this case Sam can sue Josie for the breach of contract and if he is not able to give compensation then he can be taken to court for the damages.
In this case it can be concluded that because of the breach of contract Josie is guilty because it was a legally bound contract. The contract has been breached by Josie, so necessary action can be taken by Sam against Josie. Remedies can also be legally taken as Sam is the innocent party and Josie is plaintiff in this case. This may help in carrying forward the progress in authorative method.
Question 2 
In Pinnel’s case (1602)5 CoRep 117a there is general rule which is owed with a sum of money. Full settlement is done when a person owes sum of money. Part payment is not a proper consideration. In case of Pinnel (1602) Cole owed Pinnel £8-10s-0d (£8.50). This was due from 11th November. Full settlement of debt has been payed with creditor’s request with consideration. In the Pinel’s case despite harshness still the law is represented by House of Lords.
There is exception to the rule of Pinnel case of equity. If there is a part payment of the debt by a third party, then it is necessary that composition of the agreement should be done between the creditors and debtors. The advance rule of the consideration is needed to be composed which is done with promissory estoppel. Claim for the creditors are needed to be balanced through which structural progress is needed to be generated.
In the Pinnel case the exception is equitable doctrine with promissory estoppel. If the promise is taken in action of binding then consideration is needed to be provided. In the promissory estoppel there are some requirements such as legal and contractual relationship. In certain situation if a legal relationship is formed then it is necessary that certain balance of contradiction is progressed. In the promise and unambiguous statement several terms are needed to be objected through which liabilities and penalties are needed to be formulated.
Unambiguous statement is not allowed in case of legal relationship. There are positions to inequitable to revert through which suspensible rights are needed to be formed. The debtors’ contractual obligation is needed to be progressed through which dimensions and criteria are needed to be fulfilled which may help in leading the subjects.
In the Pinnel case £8 10 shillings was owed by claimant and defendant paid £5 2 shillings and 2p. For accepting the part payment of debt, it is considered that balance is needed to be followed and payment is either maintained by chattel, due date and designation. For a subjective case it is necessary that different consequences are needed to be followed which helps in describing about the instance of the case. Unfair terms are fulfilled when objectives are not met properly. It is necessary that several consequences should be forwarded but the rules of the case is not formulated properly which is the main reason that subjective approaches are not appreciated in a proper termination.
There are certain considerations which are needed to be fulfilled and these help in carrying forward the dimensions of the organization. In the rule of Pinel case the doctrine with consideration has been impacted with proper examining structure. In the traditional estoppel agreement of the contract is enforceable which is needed to be maintained with offer acceptance and agreement. The majority of the contract works with the creditor’s balances and choices which help in formulating the structure of the organization in an organizational structure and balance. If less payment is structured in the case of discharge then different dimensions are needed to be fulfilled. A court has given basic notice that less payment cannot be stated with the influence of creditor’s choice. It helps in carrying forward the structure and progress of the work.
Several consequences are needed to object and for that the subjects with determination is needed to be followed. The view has been intended by court with major consequences. This approaches helps in carrying forward the structure of the organization. There are certain things which are needed to be measured In the case of Pinnel the balance and structure with analysis has not been approached. This helped in structuring and formulating the consequences. The major plans are needed to be subjected which helps in carrying forward the terms of the organization.
As consideration is not done in case of Pinel so it is not a simple contract and promissory estoppel has not been progressed in this case. The dimensions are needed to be maintained which helps in formulating the data. There are legal entitlements which are followed by the dimensional structures. It is needed to be balanced with equal structure which helps in carrying forward the dimensions. It is necessary that several objectives are needed to be met which helps in carrying forward the terms of the organization. In this case and offer has been made by the creditor and the bank accepted the offer which helped in carrying forward the terms of the contract. This is necessary that several subjects and approaches are needed to be fulfilled which helps in carrying forward the credit of the organization. The important notifications are not fulfilled which is the main reason of the observation and basic structures has been fulfilled in the case study.
If the reason of application of the rules has been processed then it can be measured with structural dimension which are modified with different actions. All the methods of consequences are structured and determined which helps in carrying forward the balance of the case. There are dimensions which are needed to meet the demands of the consideration and value. This help in formulating the structure of the organization in the corrective method. These are the consequences which have been observed with the structural balance and this intent to work in a progressive structure in a formal way with several aspects.
Brooks, Jo, The Exception For Misrepresentation And The Exception For Interference With Contract Rights Under The Federal Tort Claims Act (Civil Division, U.S. Dept. of Justice, 1st ed, 2002)
Buckley, R. A and R. A Buckley, Buckley (LexisNexis Butterworths, 1st ed, 2005)
Carter, J. W, Breach Of Contract (LexisNexis Butterworths, 1st ed, 2011)
Chen-Wishart, Mindy, Contract Law (Oxford University press, 1st ed, 2015)
Chen-Wishart, Mindy, Contract Law (Oxford University press, 1st ed, 2015)
Heidemann, Maren, Methodology Of Uniform Contract Law (Springer, 1st ed, 2007)
Levien, David, The Contract (Bantam, 1st ed, 2012)
McMurry, Sarah L and Francesco P Lualdi, The Agreement (W.H. Allen, 5th ed, 2006)
Osborne, Philip H, The Law Of Torts (Irwin Law, 1st ed, 2011)
Raatma, Lucia, Consideration (Awareness Publishing, 1st ed, 2012)

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