Contract: The Legal Environment of Business and Online Commerce

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

Wally, business owner of Windy City Watches is located in downtown Chicago, IL. Business is booming and Wally needs to buy a large quantity of Rolek watches which sell for $50 apiece. He calls Randy Rolek, the wholesaler located in Milwaukee WI. They discuss terms on the phone for a while before coming to an agreement in which Wally offers to buy 100 watches for $25 each. Randy sends over an order form in which Wally states that he is agreeing to purchase watches from Randy for $25 each, but does not include the quantity in which he will buy. Randy sends 50 watches the following week with a note included stating that he has sent 50 watches and will send the other remaining 50 watches within a few days but includes the bill for the full

may be subject to penalties up to and including suspension or expulsion from the University.

standings and are more difficult to enforce. Before signing a rental agreement always conduct a preliminary walk-through in the actual premises you intend to rent, so as to identify any problems that should be fixed before you rent. Verbal promises made by the landlord to fix the

Bernie a resident of Richmond, Virginia decides to sale his 2006 Ford Fusion for $13,000.00 and places an ad in his local newspaper on February 1st. After several weeks without any inquiries, Vivian contacts Bernie on March 1st stating she will pay him $12,000.00 for the car. Bernie arranges to meet with Vivian on March 5th to complete the deal. Vivian comes to Bernie’s house on March 10th and says she will give Bernie $12,500.00 for the car; but she needs three additional weeks to come up with the money. Bernie agrees but only if Vivian puts down a deposit. Vivian agrees and Bernie drafts an agreement stated the sale will must take place no later than March 31st. Vivian reads and signs the agreement and

From a biblical perspective we see in 1 Samuel 12:1-4 Israel’s high regard for Samuel. He was a man who exuded integrity. Samuel said to all of Israel, “I have listened to everything you said to me and have set a king over you. Now you have a king as your leader. As for me, I am old and gray, and my sons are here with you. I have been your leader from my youth until this day. Here I stand. Testify against me in the presence of the Lord and his anointed. Whose ox have I taken? Whose donkey have I taken? Whom have I cheated? Whom have I oppressed? From whose hand have I accepted a bribe to make me shut my eyes? If I have done any of these, I will make it right.” “You have not cheated or oppressed us,” they replied. “You have not taken anything from anyone’s hand.”

Sign, the contract, read the terms and conditions later. After all, they all read the same anyway, or do they? There are many types of contracts, containing many legal or industry terms, that causes each contract to be unique. There are some contracts that contains fine print and hidden clauses that could eventually cost you more than you ever intended to pay. Latisha signed a contract, sticking the terms a conditions away for five years, she learned a valuable lesson. We will discuss the alarming lesson Latisha learned. Be careful what you

An agreement between two or more competent parties for goods or services is typically referred to as a contract; and those contracts typically are governed by contract law. There are two general sets of law that govern contracts; the common law of contracts and the Uniform Commercial Code (UCC). These two sets of law have similarities and differences; however the provisions of the UCC usually take precedence over the common law of contracts. (Cheeseman, pg. 171). The common law of contracts was developed from state court decisions and precedent established by those court decisions as applied to other cases. (Cheeseman pg. 170) Although the majority of the law comes from state court decisions, there is a small portion that is based on

Please make arrangements to sign the necessary documents at the rental office within the next 10 days.

Lease agreements are usually part of the negotiations; sellers may sublease or prefer a new lease to be removed from liability.

A tenant in the New York State needs to enter into a New York Office Lease Agreement with the landlord while renting an office. In addition, the tenant may require submitting a Personal Guarantee along with the lease agreement to the landlord. The tenure of such lease is mutually agreed and typically, it ranges between two to five years. Please use this template only during leasing office space and not for any other type of commercial premises. This six-page form has 40 sections comprising the terms and conditions of the lease. This legal instrument is binding equally on the landlord and the tenant upon signing and execution. Therefore, please review these 40 sections carefully prior to signing the agreement. In addition as a tenant, you must

Have you ever been involved in a real estate transaction in which you were not certain whether the parties had a binding contract? Perhaps the buyer and seller had reached an oral agreement when another buyer made an offer on the property. Maybe one of the parties got "cold feet" and wanted to back out of the deal even after signing the contract.

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.

Contractual agreements are supposed to be consensual, and freely entered into by the parties involved. Therefore, ‘before a court enforces a relationship as a contract, the courts must have a reasonably certain basis in fact to justify binding the parties to each other.’ (St. John’s Law Scholarship Repository, no date). Resolution of whether a contract was intended to be legally binding is not determined by what the parties themselves thought or intended. Rather, a more objective stance is taken by the courts. This is known as the objective theory of contract, and essentially enables ‘the courts to look at external evidence (what the parties said and did at the time)’ (Poole, 2006, p. 34), as to objectively indicate the parties’ intentions

Introduction: In this assignment I will go over a few legal terms in relation to contract law. I will also talk about a few precedents that help explain the law.