Interactive 1

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Abstract
The business law has underlying elements that define violations, punishments, and the applicability of the law. The elements of the business law include; offer, acceptance, considerations, capacities, and the mutuality of obligation. The business law applies to two or more parties, and both parties are required by law to observe and consequently protect the integrity of the contract. This paper seeks to examine the elements of a contract between two parties; a landlord and a tenant. The landlord Mr. Barnard has put his house for rent at the cost of $899 for a period of 12-months. A potential client and a college Mrs. Julie is interested and decides to settle at the agreed cost and for the stipulated period. This analysis believes that both Julie and Mr. Barnard are parties of the contract and they are required to uphold and protect the terms and conditions of the agreement without violations. This paper defines the various elements of the contract, the outstanding issues in this contract, and the applicability of law in case of infractions or infringements.
Keywords: infringements, violations, terms of the contract, business law, elements of the contract, mutuality of obligation.
Introduction
Summary of the Case
The case presented follows closely the requirements and contexts of a business contract. Two parties; Mr. Barnard and Mrs. Julie, are parties of the business contract and hence are required to observe and compl…