Did Jim and Laura Buy a Car? Essay

1153 Words Jun 1st, 2016 5 Pages
Did Jim and Laura Buy a Car?
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HINT: See Chapters 10-14 of the text to help understand some of the legal issues covered in this assignment.
Jim and Laura Buyer visit the local car dealership because they are interested in buying a new car. The car they currently have is aging and is starting to have mechanical problems. Jim and Laura would share the new car, and use it to go back and forth to work and school. Before going to the dealership, Jim and Laura decide that they can only afford $400.00 a month in car payments.
Once at the car dealership, Jim and Laura meet Stan Salesman. Stan shows them several vehicles and Jim and Laura test-drive
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They are very frazzled, and understandably upset that they may have just purchased a car. Since you have been taking business law, you have read and understand the elements of a contract and the defenses to a contract. Therefore, although you are not a lawyer, you provide some basic advice from what you’ve learned in your business law class.
In three to five (3-5) pages, advise Jim and Laura based on the above facts as presented, the material provided in the text, and material covered in the lecture. In your paper, be sure to address the following:
1. Define the elements of a legal contract using examples from the scenario where applicable.
2. Decide whether or not there was a contract for the purchase of the automobile.
3. Identify the facts from the scenario which support your decision on whether or not a contract exists for the purchase of the automobile.
4. Use at least two (2) quality academic resources in this assignment. Note:Wikipedia and other Websites do not qualify as quality academic resources.
5. Format your assignment according to the following formatting requirements:
• Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length.
• Include a reference page. Citations and references must follow APA format. The…

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