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Business and Corporations Law: Lecture 1: The Importance of Business Ethics

This document discusses contract law and the formation of contracts. It begins by defining what a contract is under common law and examining how legislation has impacted common law principles. It then explains that contracts are fundamental to people's daily lives and commercial law. The key elements needed for a contract to be formed are: 1) intention to create legal relations, 2) agreement between the parties, and 3) consideration. The document breaks down each of these elements in more detail.

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manoj jain
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53 views

Business and Corporations Law: Lecture 1: The Importance of Business Ethics

This document discusses contract law and the formation of contracts. It begins by defining what a contract is under common law and examining how legislation has impacted common law principles. It then explains that contracts are fundamental to people's daily lives and commercial law. The key elements needed for a contract to be formed are: 1) intention to create legal relations, 2) agreement between the parties, and 3) consideration. The document breaks down each of these elements in more detail.

Uploaded by

manoj jain
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Business andLecture

Corporations
1: The Importance of Business Ethics
Law
HI 6027

Comparative
Business Ethics and
Social Responsibility

HC2121
Lecture 2: Introduction to Contract Law & Formation of a Contract
Lecture 2: Introduction to Contract Law & Formation of a Contract

The structure of this lecture is as below:

Contracts

Intention to create legal relations

Agreement between the parties

Consideration
Lecture 2: Introduction to Contract Law & Formation of a Contract

Learning outcomes

After completing this lecture, you will be able to:

Provide a
definition of what a
contract is under
common law
Lecture 2: Introduction to Contract Law & Formation of a Contract

Learning outcomes

After completing this lecture, you will be able to:

1 2
Provide a Recognize the
definition of what a difference between an
contract is under agreement and a
common law legally enforceable
contract
Lecture 2: Introduction to Contract Law & Formation of a Contract

Learning outcomes

After completing this lecture, you will be able to:

1 2 3
Provide a Recognize the Understand the
definition of what a difference between an elements that need to
contract is under agreement and a be in place for the
common law legally enforceable formation of a contract
contract
Topic 1: Contracts

Study of contract law

The study of contract law involves an examination of common law principles and
the extent to which they have been affected by legislation.

Contract Law

Examination of
common law
principles
Topic 1: Contracts

Study of contract law

The study of contract law involves an examination of common law principles and
the extent to which they have been affected by legislation.

Contract Law

Examination of
Impact of
common law
legislation
principles
Topic 1: Contracts

Contracts are a Example


fundamental part of
people’s daily lives
and form the basis of Contracts
commercial law
Topic 1: Contracts

Contracts are a Example


fundamental part of
people’s daily lives
and form the basis of Contracts
commercial law
Topic 1: Contracts

Contracts are a Example


fundamental part of
people’s daily lives
and form the basis of Contracts
commercial law
Topic 1: Contracts

Contracts are a Example


fundamental part of
people’s daily lives
and form the basis of Contracts
commercial law
Topic 1: Contracts

Agreement Contract
Topic 1: Contracts

Agreement Contract
Topic 1: Contracts

Agreement Contract
Topic 1: Contracts

Promise

Agreement Contract
Topic 1: Contracts

Promise

Agreement Contract

Legal intention
Topic 1: Contracts

Promise

Agreement Contract

Legal intention
Topic 1: Contracts

Before a contract can be in place four things need to exist


Topic 1: Contracts

Before a contract can be in place four things need to exist

1 Understanding of what a contract is


Topic 1: Contracts

Before a contract can be in place four things need to exist

1 Understanding of what a contract is

2 Intention to enter an agreement


Topic 1: Contracts

Before a contract can be in place four things need to exist

1 Understanding of what a contract is

2 Intention to enter an agreement

3 Agreement is an offer to go into a contract


Topic 1: Contracts

Before a contract can be in place four things need to exist

1 Understanding of what a contract is

2 Intention to enter an agreement

3 Agreement is an offer to go into a contract

4 Consideration is what you’re offering in a contract


Topic 1: Contracts

Steps for creation


Intention No contract to be formed

+
Agreement No contract to be formed

+
Consideration No contract to be formed unless
agreement is made under seal
= Contract

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