Business Law Essay Example | Topics and Well Written Essays - 1500 words - 26

Business Law - Essay Example Prior to commencement of the job, Peter receives a better paying job, and does not show up for work. John can go to court and claim the $500 initial payment on grounds that Peter has breached the contract. Such a claim would be referred to as contractual liability claim. It is common occurrence for businesses, individuals or organizations to get into agreement, often in writing, for the purpose of taking on the liability or a duty of some other entity. Usually the liability is something they would otherwise not have. Such an arrangement where one entity assumes or takes on the liability of another by contract is referred to as an indemnity agreement. Each state has diverse laws on indemnity laws though they usually override common law. Indemnity agreements often form the basis of a contractual liability claim. Contractual liability may come into play in several other scenarios. Examples of such scenarios include assumption of duty, assuming of liability, contractual liability insurance, breach of contract claims, and coverage by insurance. In the UK, contractual liability fall under the Unfair Contract Term Act of 1977, which is an Act of the Parliament of the United Kingdom, charged with regulating contracts by restriction of operation and legality of contract terms. In this case study, we are going to use ILAC method to better advice Simon on the best way forward in regards to his situation. ILAC stands for Issue, Law, Application, and conclusion. This technique provide a more logical way of addressing case studies. The facts of this case study are that Fernado and Arthur have sent Simon cheques of varying amount and expect, to receive the book. Also, Simon has since sold the book to a Gollum Book Ltd. According to misrepresentation2 concepts of contract law of England, it is possible to make a misrepresentation either by conduct or words although not all things done or said constitute