Legal Aspects of Business

• Legal Aspects are an indispensable part of a successful

business environment in any country. They reflect the
policy framework and the mind set of the Governmental
structure of that country. Thy ensure that every company
is functioning as per the statutory framework of the
country.

• In simple terms, considerations that must be taken into

account because of relevant laws.

• While starting a new business, it is very important to look

at the legal aspects which will influence the company in
the future.
 Offer

• What is an Offer?
When one person signifies to another his willingness to do or abstain
from doing something with a view to obtaining the assent of that other
to such act or abstinence. It is an Offer.

• Offer-Analysis
1. It is a communication from one person to another.
2. It is about his willingness to do or to not do something (so that the
person is benefited)
3. The intention of the communicating person is that the other should
give his consent.
 Rules of Valid Offer
• It may be express or implied.
• It must be communicated.
• It must be possible and legal.
• Terms of offer must be certain or capable of being
made certain.
• It is different from invitation to make offer.
 Acceptance
When the person to whom the offer is made signifies his
assent thereto it is known as acceptance.

Rules of Acceptance:
• Acceptance can be given only by that person to whom
the offer was made.
• It must be unconditional and unqualified.
• It must be given in the manner prescribed in the offer.
• It must be given within the time prescribed in the offer.
• If the time or manner is not prescribed, it must be
given within the time and in the manner which is
reasonable and usual.
• What is reasonable depends on the facts of the case.
THANK YOU