Contract Law Essay Example | Topics and Well Written Essays - 1500 words - 7

Contract Law - Essay Example This essay talks about the case of Raffia Khan, an interior designer has a number of contractual issues for which she needs your advice. Her business has been suffering as a result of the credit crunch so she is trying to make, and save as much money as possible.Raffia submitted her unmarked envelope with her tender of  £3000 by the time and date specified. After the closing date, she heard that Fix It Up Ltd was awarded the job at a price of  £4000. A year ago Raffia lent  £1000 to her friend Angelo. Last month, she asked for this money back, he told her that he could not afford the full amount but instead asked if she would accept  £700 in full satisfaction of the debt. Raffia agreed to this and took the payment. However, she would now like the further  £300 owed.It is necessary to consider whether the Bradford Institute for Learning has any duty to accept her tender. This will involve considering whether the advert in the paper amounts to an invitation to treat or should be regarded as an offer to give the work to the lowest bidder. It will also be necessary to consider whether the Institute has an obligation to accept the lowest quote because of the advert in the paper. It will be necessary to consider the law in relation to the part payment of a debt, to determine whether Raffia would be stopped from reclaiming the full amount as she had accepted the part payment in full satisfaction of the debt. It should be possible to advise Raffia with regard to any potential claim she might have.