Business law Essay Example | Topics and Well Written Essays - 2250 words

Business law - Essay Example The claims to be made in the paper will be proved with the help of legal cases which have been solved by applying the legal approaches of Parole evident rule and collateral contract. Introduction: Business dealings are made among enterprises by large each day which makes it evident that there needs to be a jurisdiction that would help the parties agree and abide by the clauses in the agreement. It is for this reason that business law is being practiced by the common law. In return common law is being applied to majority of the states making it liable for organizations all around the world to sign agreements and follow the legalities. Considering the legal courts of Australia, It would not be incorrect to state that it has provided the business enterprises many benefits regarding restitution and contracts. However, there are different types of contracts with exceptions which are being practiced and legally prosecuted. In this context, the written contracts in Australia are provided wi th a lot of remedies in case the contract is breached. But verbal promises that have not been included in the written contracts are not solved in case breached. ... Definitions to the terms: Breach--violation of the law which is written or oral in nature. Plaintiff-- a person or a party that would file a lawsuit against the violating party Defendant--- a person or a party against whom the case is filed. Points of Focus: Parole evident rule and exception followed by the suitable cases Collateral contracts and definition with the suitable cases Australian Courts and Remedy to breach of Parole evidence rule: It is an Australian law which is applied in case it is a matter of a written contract. Within the approach of parole evidence rule, it is evident that the court will note that all the clauses which are written or mentioned in the agreement are carefully following the signed affirmation of both the parties. This approach completely denies in case either of the party proposes a claim which is verbal in nature. The Australian court represents jurisdiction that completely disqualifies any verbal or oral promise making it much easier for the parties and the court to subject litigation if notice in any case1 The reason behind employing this legal approach in Australia for the business agreements is merely because it is able to save a lot of time. Another reason behind setting up the approach of parole evidence rule exemplifies the prevention of any faulty statement coming from either of the parties agreed upon the agreements. There has been a common ground of deviation noted in most of the legal business cases. All such cases have marked statements which were put forward by the parties in order to bring deviation the focal point of the agreement. In other words, it could be said that at times either of the parties is more likely to override