Introduction: This assessment requires the analysis of a case scenario to discuss some fundamental principles of law regarding the formation and breach of contracts. In this assessment, the student will have the opportunity to demonstrate knowledge and understanding of Contract Law by applying legal principles in solving a case scenario. Question: Elegant Ltd is a business that supplies stationaries to tertiary institutions. On 10 September 2020, Elegant Ltd advertised in British Magazines for the sales of pens at 120 per pack. The Vice- Chancellor (VC) of Knowledge University saw the advert and decided to visit Elegant Ltd to make purchases. On arrival, the VC was informed that a pack of pens sells for 130. The VC left angrily without making a purchase and has decided to sue Elegant Ltd. The VC claims that he had spent 15 on train tickets to visit Elegant Ltd and is demanding compensation. The Student Union (SU) of Great University is planning a Freshers' Welcome Event and the SU President decided to visit Elegant Ltd to purchase pens. Unaware of the sales advert on British Magazines, the SU President buys ten packs at the rate of 130 per pack payable upon delivery. The SU President sees the advert two days later and decides to call off the purchase as he thinks he has been cheated. Elegant Ltd has already shipped the pack of pens at a shipping cost of 20 per pack. Best University has sent a representative, Douglas, to negotiate the purchase of pens with Elegant Ltd. Douglas arrives and is met by Elegant Ltd's sales agent, Lamee. Douglas offers to buy 1000 packs of pens at 110 per pack. Lamee thinks it is a good deal but is not authorised to make price concessions, so she promises to contact Douglas if her manager approves the sales. Lamee telephones Douglas two days later to say that Elegant Ltd will proceed with the deal if Best University will pay 112 per pack. Douglas agrees, and Elegant Ltd promises to deliver the packs of pens on 14 September for the agreed price payable 14 days after delivery. Upon delivery, payment was requested on 28 September. Best University has run into severe nancial problems in the last week and cannot afford to pay for the pens. Advise the parties on the basis of contract formation, breach, and remedies. Learning Outcomes Assessed: (a) Display a knowledge and understanding of the nature and principles of English Contract Law (and consumer regulation/protection) lb) Develop a critical awareness of the application of legal principles. (c) Identify and illustrate areas of legal controversy and debate, suggest possible alternatives, and evaluate the desirability of such changes. d) Evaluate leal and academic aruments in an effective and anal tical manner