Inside Contract Essay

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

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

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

Furthermore, Stevens was self-employed, therefore in performing his contract, he used his own tools, which indicates that he was not a servant16. However, Stevens places too little emphasis on what defines a contractors tools, which was seen in 2001 Hollis v Vabu17. The court applied the legal principles held in Stevens18, however held that the courier was an employee, not a contractor. Although the couriers provided their own tools and equipment, it actually involved ‘little capital outlay as such tools were not only capable for use as a courier, but could be used for other general purposes’19. This provides a great example of the weight that Hollis places on another particular criteria that the test, when applied in Stevens, was able to effectively establish whether they were contractors, but left much open, leading to commercial uncertainty.

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."

In construction projects, mostly the firms (in this case the firms become client) do not have the skills or develop skills inside the firms to undertake the projects due to amount of the projects should be conducted or the complexity of the projects (Reve and Levitt, 1984). Therefore, the economic decision to conduct the projects is to procure them to third parties. However, more commonly the client agonize the final quality of the projects will meet standard requirements. Thus, impacts to involvement of complex contracts of construction procurement.

The process of selecting the contractor for a project like Yad Vashem’s museum was another instance when timely communication became an imperative component of project’s success. Kornfield was worried that due to shortage of financial resources, quality of work will be compromised. At this instance, Kornfield suggested that selectors should adopt a new and different approach when selecting the contractor. The aim of Kornfield here was to select someone who was not very expensive yet the most suitable for this project. For this purpose, proposed a three-stage selection process for his clients. The selected contractor worked in such a way that not only the safety hazards were prevented but saved a great amount of money and endless

Lillard, Monique C., Fifty Jurisdictions in Search of a Standard: The Covenant of Good Faith and Fair Dealing in the Employment Context, 57 Mo. L. Rev. (1992)

In the competition of capitalism, the highest factors for production have been the cost and time. For these goals to be met, management from the highest positions of the company rarely reflected their attention towards the laborers turning the screws, but the closest responsibility for these people were their supervisors. Employees that had to run machines during certain facility operations would be assigned extra

First, the ethical dilemma itself will be outlined. In the construction industry, it is often necessary for an owner or a construction company to enlist the help of other smaller or more specialized companies in the completion of a project. This practice is known as contracting. When an owner or company, referred to as the contractor, wants to contract out for a job, they will list the job and interested companies will bid for the contract. When arriving at a bid amount, interested companies will estimate

In this research paper I will discuss the process of contracting out, issues of cost, credibility, accountability, and quality and quantity of services. My discussion will also include reasons for contracting out, opposition, and advantages and problems of contracting out.

Learning contracts are being used in post-secondary education. Adults approach learning as problem solving and in theory by implementing learning contracts, the student becomes more involved in

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

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

The stakeholder group, regarding employees, can receive some benefits and drawbacks from the recommendation. The benefits, which consist of increase labor for a more efficient project production schedules and allowing more flexibility. The laborers will have a chance to be scheduled on a more regular basis rather than working fourteen hour days to ensure completion. In addition, the in-house trades will have more reliability by having the proper training and knowledge of Christa’s production standards to continue to appease the client. The employees and their families will feel a sense of relief that they will be home more often and enjoy some holidays off. On the other hand, the drawbacks to this solution may be that the