Therefore, unless the courts will enforce the oral contract due to the unusual case, White is not able to collect because the garage is real property, and deals involving real property must be in writing.
As of whether the parties were of a sane mind, yes they were to allow them capacity to seek purchase of a new car and also agree to the terms and conditions of the sale.
Contracts are an integral part of our everyday life and play as important role in our personal and business lives. In order to deal effectively with promises provided in the business world, a legal framework is needed. Basically, a contract is a promise or set of promises, for which the law provides a remedy if a party breaches or failing to perform. In order to form a contract, four basic elements are needed: an agreement, bargained-for consideration, legal capacity to enter into the contract and a legal purpose consistent with law and public policy. The case Michelle M. Nichols v Century West, LLC et al. below described how the contract is important in business and the promises enforceable in court.
Phar-Mor, Inc was a thriving discount grocery store in the late 1980’s. Phar-Mor was moving product quickly but profit margins were not significant enough to pay the bills. By the early 1990’s, Phar-Mor declared bankruptcy due to fraudulent financial reporting and misappropriation of assets, making it one of the largest frauds in U.S. history. Below, we will use auditing standard AU 316.85 Appendix A in conjunction with the video “How to Steal $500 million” to analyze how incentives/pressures, opportunities, and attitudes/rationalizations allowed for fraud to start and continue at Phar-Mor.
Graham I see that we disagree with whom should win the case, but I understand where you are coming from. Enterprise was paying and improving the property so it makes me wonder why Jane wanted to evict them after one year. Jane was probably trying to make a profit from someone else or selling the property. Yes business is business but morally she didn’t have to break the oral lease. Sometimes we need to go back to shaking hands and keeping our word. The textbook states, “That the Statute of Frauds requires certain contracts to be in writing and signed by the defendant to be enforceable against the defendant” (Lau, 2012, p. 187).
In 2011, Alfredo Ramos (Ramos) purchased a used car from Pena’s Motors in Brentwood, California. The negotiations of the sale were conducted in Spanish (Ramos’ native language). In consummating the sale, Ramos signed a Conditional Sales Contract and Security Agreement (contract) in English; however, Ramos was given a copy of the contract in Spanish, as well. Ramos also elected to purchase a GAP insurance policy that would pay the difference between the cash value of the vehicle and the remaining balance owed (on the car) in the event the vehicle was totaled. Ramos was not provided a copy of this GAP policy in Spanish, only English. Both the contract and GAP policy were later assigned to the defendant, Westlake Services, LLC (Westlake).
A contract is an agreement that creates an obligation that is enforceable by the law. The law has clear guidelines that before there exists a contract that will be binding, there has to be an offer, acceptance, mutual obligation and all parties should be of sound mind and by law be of legal age. A contract can either be written or spoken. Assuming that the buyers were at the required age went to the car dealership looking to purchase a new car.
Danny Davidson sold a single family home to Paul and Priscilla Peterson. A long-term relationship between Danny and Paul is the basis for not including a written agreement. The simple contract was made orally and only included the legal object and the amount to be paid. Danny did not disclose a dispute with his neighbor over boundary lines or include information about a soil subsidence in the front yard he claims not to have known about.
5. Could BTT avoid this contract under the doctrine of mistake? Explain. Would either party have any other defenses that would allow the contract to be avoided?
Here, we prove that the contract in question should stand. On January 18th, 2016 the plaintiffs’ agent, Clayton Morrow, emailed the defendant’s agent with an offer for 277 Knapp Rd. The next day, January 19th, the defendant’s agent replied, stating that they were together on a ski trip. On January 20th, the defendant’s agent replied with a counter offer signed ‘G.T. per T.S’. When the plaintiffs’ agent contacted the defendant’s agent to notify her of the acceptance, she said, “She was jumping for joy next to me when I put the paperwork together…” This statement proves that the defendant was aware of the process and wanted to go forward with the contract. Therefore, it should be immaterial that the agent signed for the
I believe that the Statute of Frauds is designed to prevent fraudulent claims of existence of a contract. I believe it makes it harder to make such a false or fraudulent claims by requiring the claimant to have proof other than just testimony that a contract existed before the claimant gets its day in court.
The False Claims Act is a piece of legislation from the U.S. Congress that allows any individual with knowledge of a fraud being perfected against any agency of the U.S. Government to file a claim on behalf of the Government against the individual or business that has or is committing such fraud. The individual filing such claim on behalf of the United States Government is identified as the qui tam plaintiff and, if the action is successful, such person is entitled to share in a percentage of the recovery against the fraudulent person or business. This is supported by the reading, “The federal government’s main weapon in the so-called war on fraud and abuse is the False Claims Act (FCA)” (Showalter, 2017, pg.553).
A business can not work out without an account system, which includes internal. Internal controls are used by companies to make sure financial information is accurate and valid. Strong internal controls are signs of a financially healthy company and protect the company’s integrity. Strong internal controls can also increase a company’s profitability. There are several types of internal controls that companies used to protect themselves such as: Segregation of duties, asset purchases, supervisor review, internal audits and adequate documents and records. This paper will discuss several topics from a case study about And the Fraud