IntroductionCommercial law is a body of law that is regulated by the uniform commercial code, aset of laws for a lease of goods, secured transactions, sales of goods and negotiableinstrument. Some core areas of commercial law are contract law, consumerprotection and intellectual property laws("What is Business and Commercial Law?",n.d.). Commerce is extremely important to a nation, in order to have a strongeconomic, a set of strong laws and regulations protecting businesses is crucial.Examples of common commercial law legal issues are contract violations such asadvertising and marketing disputes, unfair competition issues and protection ofintellectual property and trade secrets("What Is Commercial Law?", 2018).Commercial law disputes can be resolved in various ways depending on the type ofconflict and violation.
Question OneThere are four criterias needed in order for a contract to be formed, they are offer,acceptance, consideration and legal capacity. Alan decided to sell his “Introduction toBusiness Law in Singapore” textbook and all his notes taken in class. He then postedon Facebook to inform his friends that he is selling his textbook together with all thenotes which is written in an exercise book for $200 and if anyone is interested to buythem, payment is required by 5 Nov 2015. He also mentioned that he obtained aHigh Distinction for this unit. There was not a contract formed between Alan andBernard as the offer posted by Alan on his Facebook was $200. Bernard’s reply wasa counter-offer of $150 instead of $200. Alan did not accept Bernard’s counter offer,therefore, there was no acceptance of an offer. Although Bernard decided to buythem at $200 later on, his intention was not communicated to Alan and so, there is noexistence on a contract amoung Alan and Bernard. In addition to that, the originaloffer made by Alan was already invalid after a counter-offer was made. Even though Charleen is still a minor, reading up on commercial law is deemedbeneficial for her future. Therefore, there was a contract formed between Alan andCharleen. She had revealed her interest in buying the textbook for the price Alan offeron his Facebook post and Alan nodded when Charleen asked if she could pay him on6 Nov 2015. Although Alan was thinking about his favorite football team, his actionwas a form of acceptance to Charleen. Alan’s acceptance was in fact a proof thatboth of them had agreed to enter into a contract. Addition to it, Charleen had alsopaid Alan by leaving $200 on his table which performed the consideration condition toform a contract. Therefore, it concludes that there is a contract existing between Alanand Charleen. In Damien’s case, he did not accept the offer made by Alan on Facebook. Instead, heaccepted the offer by texting Alan after obtaining his handphone number. Damien metAlan in Kaplan Higher Education and passed him $200 and informed that it waspayment for his commercial law materials. Alan kept the $200 and promised to passeverything to Damien on a said date. Therefore, there is a contract between Alan and