Contract Analysis Case Study Example

1) Prepare common-sized balance sheets and income statements for Just for Feet for the period 1996-1998. Also, compute key liquidity, solvency, activity, and profitability ratios for 1997-1998. Given these data, comment on what you believe were the high-risk financial statement items for the 1998 Just for Feet audit.

A contract is defined as, “a legally enforceable exchange of promises or an exchange of a promise for an act that assures that parties to the agreement that their promises will be enforceable (Kubasek 2015).” Contracts are essential for businesses to conduct business with one another. Before delving too far into the Muscadine grape case, it is also important to note that a sale is the, “passing of title to goods from buyer to seller for a price (Kubasek 2015)” and that a good is considered, “tangible personal property (Kubasek 2015).” Muscadine grapes and their by-products are the goods in question. When considering any legal case it is important to first consider the facts and the issues that are being considered.

This discussion board post will respond to various questions regarding the Contracts Analysis Case Study involving Marshall Petersen and his local health food business from a

I drafted the requirements and one particular day, I handed the supplier’s son the requirements contract and asked him to sign on behalf of the company, which he agreed to. However, the demand for the products skyrocketed nationwide after an article was written in the Huffington Post highlighting the antioxidant qualities of Muscadine; prompting the supplier to repudiate the contract by either increasing the prices of the products or referring me to other providers. At the time, the requirements contract was signed by the supplier’s son I was not aware that he a minor.

In the Valencia case the minor entered into a contract crucial to the operation of his trucking company. At the

Yes. A purchase contract by a minor is voidable despite the participation of an adult in the transaction.

Under Texas law, is a contract “valid” at the time it was created when a 16-year-old is involved in a contract with a production company, even though such contract is unenforceable?

At a quick glance, the question of whether or not to continue business with Marshall Peterson is an absolute no. However, as God’s children, we are to love as God loves and forgive as God forgives. If we are unable to demonstrate these qualities, then there is no way we can full heartedly receive God’s grace. In the New Testament of the Bible God clearly defines the guidelines of His love, “He that loveth not knoweth not God; for God is love” (1 John 4:8, King James Version). Furthermore, the book of John reveals the following: “Greater love hath no man than this, that a man lay down his life for his friends” (15:13). As a Christian, these two verses tell an individual everything that you need to know in order to survive upon this earth, as well as live abundantly in the Lord. First, Jesus died a gruesome death for every individual, paying a debt that He did not owe. Also, Jesus’ death signifies God’s gift of salvation for every sinner that can never be earned. Second, once you are filled with God’s love, the next step is to share the love of God. As a matter of fact, all hate must be removed and replaced with an attitude willing to serve the Lord. Forgive as Jesus forgives you. Ultimately, my fleshly body advises the Muscadine farmers to break all ties with Marshall Peterson, however, my Christian stance advises

In general, a Minor’s contract is voidable except for contracts related to necessary items. However, there are some specific circumstances that the contract made by a minor is not void, such as the contract of ‘necessary’ or the contract that enables a person to earn a living.

Marshall received a signature on a contract from a seventeen year old minor in which he hopes to enforce. From a legal standpoint, minors have a limited ability to enter into contracts. The seventeen year old minor employee can void the contract he signed at any time. Minors have the option to do this because of laws made to protect them

Kate is the owner of a successful business, selling women’s shoes. Her business is expanding fast and she wants to upgrade her business structure to a more appropriate one. What would be your recommendation to Kate and why? What are the factors that influence you with this advice?

Contracts, business, and laws are three simple little words, but when put together they have a substantial impact on our everyday lives. Below we will discuss three case studies. The first case is between Chris, Matt, and Ian vs. Donald Margolin, who was injured when he used an aftershave lotion that he bought off the internet called Funny Face. The second case is between Sam, his landlord, and a national chain store. Sam is being accused of conducting business from his apartment and going back on a verbal promise. In the last case is two lifelong friends who decided to join in a partnership and open up a sporting goods shop. Therefore, before the appropriate court can proceed with the first case, the court should take into several considerations around the rules of jurisdiction, alternative dispute resolution (ADR), and whether or not corporation/or corporate offices can be held for the criminal or potential act. In the second case before the court can rule the court should determine the various elements of a valid contract, if a quasi-contract exists, a promissory estoppel, and the rights an obligation of a tenant would prevail on Sam 's claims. Finally, in the third case between Jeb and Josh, they should determine the type of business entity that will overall protect their business and personal needs.

Contract Law Case Study Both the parties in the question have come to a problematic situation

In reading the first article Coach Knight: The Will to Win, I found the article found Coach Knight to be very offensive and mean to his players. Coach Knight did not display good leadership skills. According to the article, Coach Knight’s drive and passion for excellence was not always received as well as his record of wins and losses Snook, Per low, Delacey, 2005).

Before unilateral contracts come into place, contract law is about a promise for a promise. Cases such as Carlill v Carbonic Smoke Ball Co. have shown how the contract law has adapted to accommodate this form of contract. Judges seek to identify consideration and acceptance in unilateral contracts whilst managing to achieve a balance between protecting reasonable expectation of an honest man and retaining respect for the sanctity of contract.