Business Law - Questions Assignment Example | Topics and Well Written Essays - 750 words - 1

Business Law - Questions - Assignment Example Mostly in the case of online business, an advertisement on a site suffices as â€Å"a formal offer to contract† and it becomes effective once a customer places â€Å"an order and the supplier accepts this† (Trading Online Understanding e-Commerce Contracts 2005). An online contract is enforceable in a court of law provided its terms can be confirmed through the documentation on the website and it explicitly defines the conditions for the sale. The terms and conditions of the contract should be clear, specific and unequivocally stating the jurisdiction. Such an agreement must state: 1. Obligations of both buyer or seller or in other words, the parties to the contract. 2. The amount of payment, the time of payment and the options for the mode of payment. 3. The exact details of the services to be rendered or the commodities to be sold and the dates and modes of delivery or approximate time. Two document used in this study are purchase order and sales order in Online selli ng are:. Standard Purchase Orders: Standard Purchase Order is also a form of contract, which is used to make requisitions for the purchase of goods. The terms and conditions of purchase, price, payment terms, quality specifications, terms of the warranty, location of delivery, delivery date or time etc are usually indicated on the same. Both the seller and buyer are bound to adhere to the conditions and specifications stated in the purchase and these are enforceable in a court of law. The following is a sample of the purchase order: (Picture Courtesy: http://www.ljmu.ac.uk/fin/fin_images/ai_app1.jpg) Element of contract in Purchase order in UK Online Selling are: 1) Acceptance: Seller's beginning of work on the services or goods subject to this purchase order or consignment of such goods, whichever takes place first, shall be deemed as a successful manner of acceptance of the purchase order. 2) Mutual Consent: In order for the contract to become valid, the parties to a particular co ntract