Essay: Contract law
In today’s world, business is essential to the economic development of both individuals and groups of people. In the detailed exchange of goods and services, business people are predisposed to many elements of sabotage which can amount to their ineffectiveness and later failure. Having foreseen the possibility of such a scenario, it becomes crucial for any business manager to comprehend contract law and its effect on consumer sales.
Consumer sales are indeed an integral part of business and as such, both contract and consumer laws are pertinent in business. These are laws which not only safeguard the interests of the consumer but also those of the business. This paper seeks to underlie the critical role that contract law plays in improving operational legitimacy and business effectiveness. Aspects of the discussion will include the significance of contract formation, mistake and misrepresentation, exclusion clauses and civil consumer protection in regards to consumer sales.