Business Law Essay Example about Contracts

The conclusion to contracts chapter 11 - question 3

As it has always been defined, a deal is an agreement which is legally enforceable between two or more parties and can either be oral or written. It is a set of promises, and each party promises to perform their part in the contract. In the case of Racicky and Simon, we shall apply restitution interest which explains the fact and reason that the injured person has to be refunded some benefit that he or she has conferred on the other party in the contract agreed which is believed to be unjust if it were to be left with that person in the agreement. Restitution is treated as a universal solution in the deals that involves misrepresentation, fraud, duress, and any other mistake (Samuelson, 2009). The fact that Racicky had signed an agreement to enter into a contract with Simon to sell him the land, and received a payment should be an abiding factor between the two parties. The fact that he sold the property even before he acquired it was in itself a breach of contract and he ought to have been careful with the money he received from Simon. Therefore, within the law of contracts, it would be wise for Simon to seek a remedy of reinstitution so that his money can be returned to him as a result of Racicky's financial bankruptcy.

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When Simon realized the on goings, the best he should do is to seek this remedy of restitution as this will help to undo the contract and put him and Racicky back to where they initially were before they entered the agreement. The fact that Racicky knew that he had not bought the land and proceeded to make a sale of a ghost land is enough to inform anyone that he did not disclose all the relevant information concerning the property in question. It is therefore for Simon to move to court to seek for restitution so that he can be refunded to, his money. In this case, thus, the court should compel Racicky to return Simon the full purchase of the land because the agreement had been breached (August et al., 2012).

Practical Contracts chapter 12 - Question 1

Within the employment contracts, some of the requirements that have to be explicitly stated include the following;

Information about the job

While entering into an employment contract, the title of the post must clearly be stated alongside the department and the team with which one will be working with. It further illustrates how performance evaluation will be carried out.

Compensation and benefits associated with the job

This provision explains to the employee the compensation and benefits package that he or she is entitled to. It describes the monthly, annual salary, and or hourly rate of pay. It also outlines information about bonuses any other incentive that might arise in the course of discharging their duties.

Time policy

In this provision, employees are notified of the time they are expected in the workplace and when they should get off their daily duties. In this provision, employees are informed of their vacations and how they increase with long tenure among others. It also explains how employees will be treated during the days when they are sick.

Classification of employees

This is another critical provision expected to feature in the employment contract. It helps to define to the employee whether he or she has been hired or permanently employed. The provision also explains the differences between a contractor and employees so that every worker is aware of their duties within the organization.

Employment period

Employment contract clearly states the period the engagement is going to take, whether or not it will be ongoing or if it is for a defined term. It also shows the number of hours that an employee is likely to work, and in any case, some working schedules can be flexible to enable him or her to work from or anywhere out of the workplace.

Confidentiality agreement

This provision in the employment contract ensures that the employee adheres to and protects any sensitive information about the business as well as client data. This is guaranteed by having an employee sign a confidentiality agreement within that contract (Samuelson, 2009). A confidentiality agreement is always given within the employment contract instead of making it as a separate document.

Termination terms and conditions

It is normal for an employment contract to include terms and conditions for terminating the agreement between parties. It also indicates the amount of notice and the mode in which it will be communicated to the employee. In most cases, it is in the form of a written document.

Policy on the use of technology

Employment must indicate to the employee about what is ok and what is not concerning the use of social media and email on the property of the company. If the company does not want the employees to use company internet services or mobile phones for private use, then it has to explicitly state this within the contract so that employees are made aware of the things they are not expected to do (Gold, 2009). Failure to observe this will, therefore, call for disciplinary action or termination of the contract.

Requirements after termination

Employment contract also outlines to the employee the post-termination requirements. This shows possible restrictions that an employee faces after the contract is terminated. It can include restricting the employee from starting a similar business in the same industry within the same area or a restriction on any engagement with other agents of the same company. These should clearly be stated so that the interest of the company is protected.

Sales and Product Liability chapter 13 - Question 1

Just like the case of Lisa and Ed in the same category, Nina and Seth too had engaged in a formal agreement to do a transaction. When Nina signed the fact to confirm the deal, it is indicative that they had talked about the transaction and therefore she was only establishing their agreement. In this case, Seth has got no legal capacity to refuse to sell the goods to Nina, and he should, therefore, proceed to accept the cash from Nina and deliver her the cars (Samuelson, 2009). As observed in the case of Lisa and Ed, after they had agreed, there was a delay in time, but because they had decided, they proceeded to complete their agreement by the court forcing Lisa to pay for the grills. Just like this case, because Nina and Seth had got into a contract, the court will enforce the deal between these two parties, and it will force Seth to sell the cars to Nina. This is because there already existed a legal binding between them.

Having noted the three cases, it is important to conclude by observing that the case give light to learners of what they are expected to do while getting into an employment contract, the various terms studied in business law as well as contracts regarding selling and acquiring multiple products.

References

August, R., Mayer, D., & Bixby, M. B. (2012). International business law. Pearson Education, Limited.

Gold, D. L. (2009). Introduction. In Law & Economics: Toward Social Justice (pp. xi-xviii). Emerald Group Publishing Limited.

Samuelson, S. S. (2009). Introduction to business law. Cengage Learning.