Assessment Requirements: To complete this assignment, you are required to undert
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To complete this assignment, you are required to undertake some preparation and research for the scenario given below. you will be asked to write up your discussion and findings in a report and submit for marking. Credit will be given for the use of relevant case law. The use of cases as evidence to support your points is essential. As a guide, around 16 cases can be used to support your points of law that you use.
Yahia is an antique dealer and one Saturday in November 2017 he put a vase in the window of his shop with a sign which stated ‘exceptional piece of 19th century pottery – on offer for £500’. Akash happened to notice the vase as he walked past the shop and thought he would like to have it. Unfortunately, as he was late for an important meeting, he could not go into the shop to buy it, but as soon as his meeting was finished he wrote to Yahia agreeing to buy the vase for the stated price of £500. The letter was posted at 11:30 am. Later on the same day, Chang visited Yahia’s shop and said he would like the vase but was only willing to pay £400 for it. Yahia replied that he would accept £450 for the vase, but Chang insisted that he was only willing to pay £400 and left the shop. However, on his journey home Chang realised that £450 was actually a very good price for the vase and he immediately wrote to Yahia agreeing to buy it for that price. His letter was posted at 12:30 pm. Just before closing time at 5 pm. Emica came into Yahia’s shop and she also offered £400 for the vase. This time Yahia agreed to sell the vase at that price and Emica promised to return the following Monday with the money. On the Monday morning Yahia received both of the letters from Akash and Chang before Emica could arrive to pay and collect the vase.
Required: From the point of view of the law of contract, in a formal letter, advise Yahia as to his legal relations with Akash, Chang and Emica. Incorporated in your advice, briefly discuss the key elements of a binding contract.
Guidance: The discussion should demonstrate planning, research, analysis and the ability to build coherent critical arguments using at least two past cases for each point of Law, more cases can be used to demonstrate understanding and gain higher marks (see mark scheme for details). You are expected to refer to your core text and other credible academic sources.
It is desirable that your answer is presented in the form of a formal business letter. The reference and bibliography for both parts should be included at the end of the report.
Format: Business Letter format, Microsoft Calibri 11, 1.5 spacing. A basic template will be available on Brightspace.
Jones, L. Introduction to Business Law, 5th Edition, Oxford University Press
Expectation: Critical analysis. The rules on plagiarism apply.
Note on References:
Harvard Referencing. It is important to reference sources in accordance with the referencing conventions recommended for the course. These conventions apply to information taken from Internet sources, books and journals and also lecture notes.
You will be assessed on your written report only. The report will be marked on the following criteria:
Application of theory
Evidence of research ( relevant cases )
Relevant sources ( use cases ) and accurate referencing (bibliography)