Contract Analysis Essay

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.

Rule : : Contract formation requires mutual assent (offer and acceptance), consideration, and no viable defenses to contract formation.

Pat was very frustrated because she wanted to purchase a home but lacked the funds or credit to do so even though Pat was expecting shortly to receive a one-half million dollar final installment payment for some land she sold several years earlier. Dan knew that Pat was very interested in purchasing a home and approached Pat with a proposal to assist Pat in buying a home. Dan told Pat that he would help Pat with the financing. After finding the home she wanted to buy for $250,000, Dan and Pat orally agreed that Dan would purchase the home and "when you come up with the money, I (Dan) will sell it to you (Pat) for $250,000 plus a fair commission to be determined."

No matter in which country, signing a contract with minors is always is a big challenge. In the case of Bryan Zivich vs Mentor Soccer Club Inc, Mr. Zivich sued the club for the negligence that resulted in an injury of Bryan Zivich, even though Bryan Zivich had already

Enforceable contract Peter v. Don. Peter will have an enforceable contract with Don if he can show that all the required elements of a contract are present. If there is a contract between the two then it will be governed by the common law requirements of an enforceable contract instead of the Uniformed Commercial Code, which would be used if their agreement had involved the sale of goods. In order for a contract to be formed between Peter and Don the two must react mutual consent Mutual consent can generally be formed through the form of an (A) offer and (B) acceptance. An additional requirement for both parties to show (C) consideration is also

-the reasoning: the letter agreement left the point of delivery up to future negotiation and was not specific to all essential terms. The letter was unenforceable agreement to agree and there was no contract.

Contractual capacity is, “The legal capability to form a binding contract. A number of classes of people lack contractual capacity, and these include minors…” (BusinessDictionary.com, 2010). A minor’s capacity to contract and the lack of an employee’s capacity to bind a company by contract could be used in defense against a breach of contract.’ Consideration is necessary for any contract to exist. A promissory estoppel is used when consideration requirements are absent (Kubasek, Brennan, & Browne, 2015, p.250).

, but Marshall said that since it was a contract it could stay and was legal

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

Since the contract was meant to be signed by the son, instead of the owner, it was also created to take advantage of the business in secret. As well as the attorney presenting the issue of the contract being signed by a minor, the argument that the son was not the sole business owner could be disputed. Because of the late payments by Don the attorney could possibly use Don’s irresponsibility to help the contract to be eliminated. By going through arbitration this issue could be easily resolved. It would also help the contract decision be a win-win situation. This could possibly encourage Don to restructure the contract and create a more fair and legal business solution. With both sides overcoming their issues this could leave a better separate between both companies.

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

other in order to form a contract, the value of the consideration need not be

that the document did not appear to be contractual. In D J Hill and Co

would give 100 £. The company then deposited 1,000 £ in a bank to show