Business law Essay Example | Topics and Well Written Essays - 1500 words - 2

Business law - Essay ExampleSubsequently, the counter-offer by stein was rejected by zip. Later, Stein sent an credence letter to Doe agreeing with the terms mentioned in the offer initially make by Doe. However, within the gap, Doe had already real the offer of MARK Drugs to work as a research director in the company, which spares various reasons to disregard the contract as valid. According to the law of contract, acceptance and offer are quite essential to be make in a transparent manner, where the heading of both the parties, i.e. the offeror and the offeree must be informed as legitimate and viable. In accordance with the scenario, it base be observed that Doe (as the offeror) and Stein (as the offeree) have informed their offer as well as acceptance/non-acceptance through postal medium to create a efficacious relationship. As per the contract law, parties mingled in agreements are required to be legally associated in order to execute duties legally, after a actualizeed acceptance has been made voluntarily by the offeree1. However, in this case, Stein made no confirm acceptance of the offer made by Dr. Doe, which makes the contract void, as it does not support any legal obligation to exist between the two parties. In simple words, there was no acceptance made to the offer, which makes the contract void. ... The feedback provided by the president of the company implies that the offer was accepted and it is valid. But, the president of the company made a counter-offer stating that the company will recruit Dr. Doe for the position of vice president with a salary of $300,000 per annum, which indisputablely cannot be regarded as an acceptance by law. Correspondingly, rejection of the original offer, as prescribed by Doe, was presented with a counter-offer, which signifies that the rootage original offer has become void and cannot be accepted in future. In a uniform case of Hyde v Wrench 1840 3 Beav 334, it was identified that Wrench made an offer to sell to Hyde a piece of land for a price of ?1,000. Hyde made a counter offer of ?950, which was later rejected. Subsequently, Hyde accepted the original offer but it was rejected. Consequently, the (proposed) contract amid Wrench and Hyde was identified to be invalid2. Hence, in the case of Dr. Doe and Stein, the offer can be identified as a sheer invitation without any legal regard and obligation. Apparently, there was no legal binding between the parties for the service-term and appointment of Doe in the company, which can nevertheless be argued with reference to the case of Gibson v Manchester City Council 1979 1 All ER 972. In this case, a letter was provided to Mr. Gibson by the Manchester City Council to sell the house at a rate of $2,180. During the period, there was certain change in the policy of the Council and Mr. Gibson was refused with the proposal to purchase the house. It was later determined that the letter from the Council was a mere invitation, which signified that there was no contract between the parties3. In this case, however, an acceptance was made by Stein