Assessment Requirements Annabel Constructions Ltd. are engaged in the business of building residential flats. At present the company has just completed a construction project comprising of 100 apartments, all of which were fully booked at the start of th

Essay, Law
Assessment Requirements Annabel Constructions Ltd. are engaged in the business of building residential flats. At present the company has just completed a construction project comprising of 100 apartments, all of which were fully booked at the start of th

Project description
Assessment Requirements

Annabel Constructions Ltd. are engaged in the business of building residential flats. At present the company has just completed a construction project comprising of 100 apartments, all of which were fully booked at the start of the project. Annabel Constructions Ltd. had signed a contract with a large number of individual buyers and collected a deposit in advance. The contract contained a delivery date commitment along with a delay clause. According to the delay clause, if the firm failed to meet the delivery commitment, it would pay a penalty amounting to £100 per day of delay to all the buyers who experienced delay in getting possession of their apartment.

Annabel Constructions Ltd. had engaged many suppliers for the project. One of the suppliers was Murray & Co. who had been given the contract for supplying and fixing double-glazed windows. In their eagerness to gain the contract, Murray & Co. underquoted, and as a result faced major financial difficulties in keeping up with their commitment. Since their contract with Annabel Constructions Ltd. had no penalty clause, John Murray, the owner of Murray & Co. sent a communication to Annabel Smith, the CEO of Annabel Constructions Ltd. mentioning his firm’s inability to deliver the windows and their intent to exit the project.

Annabel Smith called John Murray for a meeting during which she promised to pay an additional amount of £20000 to Murray & Co. for meeting their commitment by a required deadline. Thereafter Murray & Co. delivered the windows which resulted in the timely completion of the project.

When Murray & Co. raised the invoice, Annabel Constructions Ltd. refused to pay extra £20,000 that was agreed upon in the meeting between Annabel Smith and John Murray.

Briefly discuss the key elements of a binding contract. (300 words)
Advise Murray & Co. of their position on their claim to the additional amount of £20000 (700 words)

The essay should demonstrate planning, research, analysis and the ability to build coherent critical arguments. You are expected to refer to your core text and other credible academic sources.

Special Instructions
The word count (excluding referencing) should not exceed 1000 words excluding references.

Guidelines: Format: 12” Times New Roman, Justified, Single Space

Essential Source
Adams A (2012) Law for Business Students Seventh Ed., Pearson

Other Texts:
Abbott K; Pendlebury N and Wardman K (2013) Business Law 9th Ed. Cengage Learning

Expectation: Critical analysis. The rules on plagiarism apply.
Note on References
Harvard Referencing. It is important to reference sources in accordance with the referencing conventions recommended for the course. These conventions apply to information taken from Internet sources, books and journals and also lecture notes.

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