BUS201 Contract and Agency Law Assignment Sample

It has been noticed that several business administration students are interested in searching for and studying the SUSS BUS201 Contract and Agency Law assignment sample. This is so because the students with business administration background need to pursue a relevant course namely BUS201 Contract and Agency Law. This course is offered at one of the top universities of Singapore i.e. Singapore University of Social Sciences.

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Objective of BUS201 Contract and Agency Law

The motif of including the BUS201 course in the studies of business students is to equip them with an understanding of the key elements of contract and agency law. This course also aims to make the students informed about the role of contractual and agency relationships in business.

This course focus on various aspects of contract and agency law. Vitiating factors that can undermine the formation and performance of a contract as well as their legal impact on the contract.

BUS201 SUSS course will explain different ways in which a contract may be discharged and different types of corrective measures available for violation of a contract. Also, this course intends to acquaint the students with an insight into agency relationships in the business context with the help of examples. Students will get to know how agency principles can be utilized in order to reduce the risks connected with agency arrangements.

Not just this, but the BUS201 course also tells the students about the duties and liabilities of principals of the agents. There are many more things that this BUS201 Contract and Agency Law focuses on teaching and equipping the students with.

What is contract law?

Contract law refers to a contract that is enforced by law. Contract law comes into action when two parties are dealing with each other. It is different from the agreement in the sense that when both parties make a promise or number of promises that don’t contradict and accepted by both of the parties involved is an agreement. Whereas, the contract is an accepted proposal or a kind of agreement which is completely recognized by law and is legally defined.

A contract is always an agreement enforceable by the law.

Thus, a contract is a legal document that imparts special rights of the parties (mentioned in the contract) as well as the obligations that are explained and agreed by both the parties.

Introduction to the law of agency

Law od agency is a field of commercial law. The agency laws deal with a set of contractual, quasi-contractual, and non-contractual fiduciary relationships in which a person is involved called agent who is entitled to act on the behalf of the principal party. The agent needs to deal with a third party and set up or make the legal relationships with that 3rd party.

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In short, an agent who is authorized to work on the behalf of a principal party and make legal deals with the third party.

This branch of law differs the relationships as: –

• Principal-agent relationship; the relationship between the agents and principals (internal relationship)
• External relationship; the relationship between the agent and the third party
• Relationship between the principals and the third parties when the agent deals

Are Contract law and agency law the same?

No, the contract and agency law are very different from each other.

Taking contract law; the major objective is to facilitate the business transactions by being the “glue” binding the two parties to carry out their agreements.

Whereas, in agency law cases; its goal is to apply the legal rules in order to shape the relationship between two parties with the help of an agent.

Both can be considered as reaching the same outcome with a different doctrine.

BUS201 Contract and Agency Law Topic

As the BUS201 course teaches the students about a lot of things related to the legalities and the contract & agency law, it consists of a number of topics.

These are the major topics that the BUS201 course teaches: –

• Introduction to Law
• The legal system of Singapore
• Contract: Offer
• Contract: Acceptance
• Contract: Considerations
• Contract: Legal Intention
• Contract: Terms
• Contract: Vitiating Factors
• Contract: Discharge and Remedies for Breach
• Law of Agency

Educational Upshots of SUSS BUS201 Course

Learning a lot never goes waste. Studying the entire course prepare the Singaporean students as an expert on the contract and agency laws and relevant topics.

The learning outcomes of the BUS201 Contract and Agency Law SUSS course are as follows: –

• Discuss and feature out the salient features of the Singapore legal system, especially those that impact upon business activity
• Explain the formulation of a contract, performing, discharging, and give examples of general contracts in the business environment
• Determine the key elements of a contract viz. offer, acceptance, consideration and legal intention
• Examine the legal rule applicable to the elements of a contract
• Talk about the nature of law, the function of business law
• Discuss the law of agency Singapore giving agency law examples

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