Lean Operation
BUSINESS LAW INDIVIDUAL ASSIGNMENT
QUESTION 1A
Legal Issue
This aspect involves LAW/ RULE OF OFFER AND ACCEPTANCE.
Discussion of the legal principles
“… agreement can be resolved into an offer by one party (the offeror and an acceptance of that offer by the other the offeree.
Contract is an agreement between two or more people.
Discussion of the legal principles
One of the parties must have made an offer
The offer must have been communicated to the offeree
The offer must not have been revoked/ have lapsed
The offer must have been accepted in the manner (if any) prescribed by the offeror
The person who accepted the offer must be someone whom the offeror intended to accept
The offeree must have communicated the acceptance to the offeror in the manner, within the time, and at the place prescribed by offeror
Application of the legal principle to the facts
Refer to the Bloom v American Swiss Watch where the court held that Mr Bloom claiming the award had only heard of the offer after he had given the information to the police. Mr Bloom was unaware that American Swiss had place an add in the newspaper. American Swiss therefore did not have to pay Mr Bloom the award because the offer was not communication.
The question does not state whether Bob knew the advert prior giving the information to the police or not. If Bob was aware of the reward prior giving the information to the police, Mr. Diamond is liable to pay him the reward of R1000. However if Bob only knew about the reward after he gave the information to the police, Mr. Diamond is not forced to pay the award to Bod. Since the offer is not communicated, therefore there is no contract existence.
Question 1B
Identify the legal issue
This DURESS
Discussion of the legal principles
Duress is a voidable contract. Duress is the situation where the/or one of the parties it either (offeror or offeree is persuaded to conclude a contract through the following was: * Threat * Violence
QUESTION 1A
Legal Issue
This aspect involves LAW/ RULE OF OFFER AND ACCEPTANCE.
Discussion of the legal principles
“… agreement can be resolved into an offer by one party (the offeror and an acceptance of that offer by the other the offeree.
Contract is an agreement between two or more people.
Discussion of the legal principles
One of the parties must have made an offer
The offer must have been communicated to the offeree
The offer must not have been revoked/ have lapsed
The offer must have been accepted in the manner (if any) prescribed by the offeror
The person who accepted the offer must be someone whom the offeror intended to accept
The offeree must have communicated the acceptance to the offeror in the manner, within the time, and at the place prescribed by offeror
Application of the legal principle to the facts
Refer to the Bloom v American Swiss Watch where the court held that Mr Bloom claiming the award had only heard of the offer after he had given the information to the police. Mr Bloom was unaware that American Swiss had place an add in the newspaper. American Swiss therefore did not have to pay Mr Bloom the award because the offer was not communication.
The question does not state whether Bob knew the advert prior giving the information to the police or not. If Bob was aware of the reward prior giving the information to the police, Mr. Diamond is liable to pay him the reward of R1000. However if Bob only knew about the reward after he gave the information to the police, Mr. Diamond is not forced to pay the award to Bod. Since the offer is not communicated, therefore there is no contract existence.
Question 1B
Identify the legal issue
This DURESS
Discussion of the legal principles
Duress is a voidable contract. Duress is the situation where the/or one of the parties it either (offeror or offeree is persuaded to conclude a contract through the following was: * Threat * Violence
References: Fouche MA (2001). Legal Principles of Contracts and Negotiable Instruments. 4th Edition Butterworths Durban