LAW FOR BUSINESS

Law for business



Law for Business

Introduction

Incidents that cause damages happen while we do business with other entities. These damages cause harm to both parties. Depending on the type of damages, reimbursement of its legal form is divided into:

Compensation for damage to health

Compensation for moral damage

Compensation for material losses

The damage that interests us is the injury, impairment, decline, tort, of a subjective right, which generates liability. In the field, contractual damage compensation is budget (Miles, 2009, 272). The damage, which is also the result of breach of contract or law, may also come from a crime or tort. In this paper, we are also focusing on such a situation where a trader's product (100 water cooler and 1000 50 litre bottles) has caused health damage to the employees of ABC Company. There is breach of contract between both parties that is why we would refer to the law of contract which is a set of rules and regulations that govern the content, validity and relationship of an agreement that involves two or more than two person - individuals, companies or institutions- regarding the provision of different services, exchange of interests, ownership or sales of goods (Koffman, 2004, 112).

CASE: Hyde -v- Wrench (1840). Counter offer. (Adams, 2004, 98-132)

The defendant offered a farm for sale at £1000. The plaintiff made a counter offer of £950 (through an agent). This offer was rejected. Two days later the plaintiff offered the original £1000. The defendant refused to sell.

HELD: The plaintiff could not enforce this acceptance as he had rejected the offer by making a counter offer.

•If £1000 had been offered to buy the farm and had been unconditionally accepted, then there would have been a binding contract. (Dransfield, 2003, 100-102)

•The plaintiff had rejected the original offer made by the defendant.

•He made an offer of his own of £950 (a counter offer) this introduced new conditions.

•The original offer had lapsed.

A counter offer is a rejection of an original offer and its effect is to cancel the original offer, but the offeree could accept the counter offer if they wanted too. If the offeree is just asking for more information this is not a counter offer and will not affect the original offer.

Consideration

Is described by Elliot and Quinn, (2003), as 'being something which represents either some benefit to the person making a promise or some detriment to the person to whom the promise is made or both. Problems often occur after the formation of a contract, when persons try to modify it, as seen in Stilk v Myrick 1809. There needs to be new consideration added, for it to be binding.

In my opinion the company should recover its damages from the trader because according to the Tort Law Damage claims become instruments for the enforcement of the Directive. Liability must pose a threat sufficient to ensure that the employer and other employers like him - will no longer be tempted to infringe the principles of EU law. The recent efforts of the European Commission in ...