Business law Assignment Example | Topics and Well Written Essays - 500 words - 3

Business law - Assignment Example In his mind, he thinks that the car is in good condition. By bad luck, the mechanical problem re-occurs two days later and consequently, the car is involved in road carnage. The taxi driver evaluates the problem and come to a conclusion that the car had the mechanical problem before the purchase. The seller by omitting the true mechanical condition of the car violated the Contract Law (Marson 352). Contract Law is a group of regulations that guide buyers and sellers on how to conduct their business. Legal actions are taken in case one party violates the Contract Law. Therefore, the taxi driver will use the Contract Law in court to against the car seller. The law allows the payment of any loss or damage caused by omission of vital information by the seller. However, the buyer must prove that the Contract Law was indeed violated. The Contract Law has four main elements. The first element is the offer given by the seller with conditions of the item on sale, the price, and the date by which the offer will expire. The second element of Contract Law is acceptance. The buyer accepts the conditions given and registers the intention to buy the item. The third element is the legal agreement. The buyer and the seller make a legal binding. The last element is consideration where the buyer pays or gives a later date to pay the item on sale. In the case between the car seller and the taxi driver, the offer given did not include the poor condition of the car intentional (Marson 352). The taxi driver bought it at the worth of a car with good conditions. He joins into a legal agreement and makes payment only to realize that the car had mechanical problems two days later. The seller violated the Contract Law by giving false information about his car and is supposed to pay the damages and the loss incurred by the taxi driver. However, the chances of the taxi driver winning this case are