Business environment questions SLIDES

Question 1

Briefly explain the 3 key essential elements of a contract.

Answer 1

Offer, Acceptance, Intention to create legal relations.

Question 2

How is circulation of a price list categorised in contract law?

Answer 2

C. Invitation to treat.

Question 3

Are these statements true or false? A) An item on a shelf with a price is an offer. B) A query with your friend asking ‘will you accept £900 for your laptop’ is acceptance.

Answer 3

Both false. A shelf item is an invitation to treat; the price query is an offer, not acceptance.

Question 4

Briefly explain the difference between an employee and someone who is self-employed. What are some indicators of employee status?

Answer 4

An employee works under a contract of service, is controlled by the employer, integrated into the business, and cannot send a substitute. See slides for full list.

Question 5

Briefly explain some advantages and disadvantages of being an employee vs self-employed.

Answer 5

Advantages: guaranteed pay, equipment provided, legal protections. Disadvantages: less flexibility, must follow orders, no substitute allowed.

Question 6

Which remedies are available to an employee if they are wrongfully dismissed?

Answer 6

A. Damages.