Business law Case Study- 1- Margaret owned an antique store that specialised in rare porcelain dolls. When she opened the business in 1989, it was at a shop in an eastern suburb of Melbourne. In 1999 she started to advertise on the Internet and by 2006 the business had grown to the point where she needed help to keep the business going. After a family discussion one night at the kitchen table in July 2006, it was agreed that Margaret would probably keep the business going for another couple of years and then retire. Emily, her youngest daughter and aged 16, would work in the shop as long as was needed and in return, she would receive any unsold dolls. When Margaret retired at the end of 2009, she decided that she would give the unsold stock to charity and they could auction it and keep the proceeds.

1. Unilateral mistake is the type of mistake which occurs when only one party to a contract is mistaken as to the terms or subject-matter, explain in detail give illustractions

2. What is a contract? Give detailed information

3. Evergreen contract is one that has automatic renewals until one party requests termination. Give detailed information

4. How are final contracts signed in modern business?

5. Opening tendering is a tender allows anyone to submit a tender to supply the goods or services that are required. Explain

6. Serial tendering involves the preparation of tenders based on a typical or notional bill of quantities or schedule of works. Give full information

7. Single-stage tendering is used when all the information necessary to calculate a realistic price is available when tendering commences. explain further

8. Why invitation to tender might not include holiday packages

9. Why does Mutual mistake occurs when both parties of a contract are mistaken as to the terms?

10. Why is this statement false, In Schedule contract the contractor undertakes the execution or construction of specific work with all its contingencies, to complete it in all respect within a specified time for a fixed amount.