Business Law Assignment #1 The Courts Assignment # 2

Student’s Name
Professor’s Name
Course
Date
Assignment 1& 2
Business Law Assignment #1 The Courts Assignment # 2
Business laws are regulations that guide the operation of organizations on either national or international levels. The laws are appropriate in ensuring that companies conduct their businesses swiftly without any setbacks. Smits argues that legal issues are the root cause of problems that arise in different parts of the world because of commercial matters (p. 56). Therefore, business law offers a base of resolving such issues and enhancing healthy competition between close rivals. Furthermore, it facilitates the growth and development of an organization towards the attainment of set goals. A contract is a relevant aspect of business law that is enforceable by business regulations.
Contract law is a relevant topic in business law that involves various legal documents that organizations can use to defend themselves in court. The nature of a contract regulation is to enforce the promises of a business party to avoid legal issues in future. The capability to contract, offer, and accept is essential in making a contract enforceable. According to Smits, the involved parties ought to recognize the need for mutual consent and sufficient consultation before signing a contract (p. 67).
In the case of transfer of ownership of a business, the buyer can only acquire ownership after meeting all the set requirements. Contract law is one of the most significant aspects of a business operation. The nature of any business-related contract is to enforce the promises that any of the involved parties partake. For that reason, business owners ought to have a comprehensive understanding of business law to operate effe...