Academic Paper from the year 2015 in the subject Law – Civil / Private, Trade, Anti Trust Law, Business Law, grade: 5.50, London Metropolitan University, language: English, abstract: The question posed in this paper is this: how tort and contractual liability are related to everything in our world? The examination of this question is imperative since everything in our world is bound with money and money runs the whole world. Unfortunately, the wealthy want to dominate and that is why business is important. Inflation, the stock market, loans or even Telecommunication Company can ruin your life or make you pay extra taxes or fines. This paper, therefore argues that the important things in business, private or public, are the agreements and fixed terms between companies and individuals. While oral agreements can and might be used the written ones are the formal and the most engaging in business relationships. Moreover, contracts are legally enforceable in a court of law. That is why this paper explores the issue by examining the different types of contracts and contractual liability.
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