The contract is a legally-enforceable promise or a set of promises. The four elements of the contract are 1) the agreement, 2) the consideration, 3) contractual capability, and 4) lawful object (Cheeseman, 2015, p. 188). These elements are required to exist for a contract between Sam and the chain store to be valid. The first element of the contract is the agreement which is a combination of the offer and an acceptance which both need to exist. The agreement between Sam and the chain store exists because Sam had verbally agreed to send 1,000 units to the chain store, as per conversation with the store manager. The second element of the valid contract is the consideration which could exist if both parties, Sam and the chain store, had agreed …show more content…
The equitable doctrine of implied-in-law contract, a quasi-contract, would have allowed the court to award monetary damages to a plaintiff for providing work or services to a defendant even though no actual contract existed between the parties (Cheeseman, 2015, p. 195). This would apply to the situation in which Sam received some form of payment for his units before he shipped the units to the store. In this case, Sam would have been under the legal obligation to send the units to the chain store. Promissory estoppel (or detrimental reliance) is an equity doctrine that permits a court to order enforcement of a contract that lacks consideration (Cheeseman, 2015, p. 220). Promissory estoppel is used to avoid injustice. The elements of the promissory estoppel include the promisor making a promise, the promiseé replying to the promise, the promiseé taking action on the promise, and experiencing injustice when the promise was not enforced. The promissory estoppel in this case is invalid because there was no discussion about the compensation in return for the 1,000 units, no action based on the promise, and no injustice suffered as a result of fulfilling a
Several factors must be present to establish if a valid contract exists between Sam and the chain store. Thus, the “four elements of a contract are the agreement, the consideration, contractual capacity, and the legal object” (Kubasek, 2012, p. 304). The first element of the agreement would be deemed to
In regards to the issue between Mr. Stevens and the chain store, various elements must be present to prove that a valid contract exists. The four elements to a contract are: agreement between the parties, consideration, contractual capacity, and finally, legal object (Kubasek, Browne, Giampetro-Meyer, Barkacs, Herron, Williamson, & Dhooge, 2011).
A contract is an agreement that creates obligations that are enforceable by the law. A contract can either be written or spoken. There are elements to a contract that make it valid and binding. This is defined as a clear manifestation of willingness to enter an agreement made by another person with full understanding that their assent to the bargain is an invitation and is concluded. As to whether there was an offer in this case, yes there is an offer. When the salesman offered the buyers time for a test drive and they finally chose and agreed to buy the blue car it was a clear offer.
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.
In contract law there are four basic elements that must be met before a contract can be valid. These elements are: an offer and intent to do something, acceptance of what is offered, intent to create legal relations, and consideration. (Kubasek 2008). In the case of Sam Stevens and the national chain store, an offer is made when the chain store manager says it will sell Sam’s barking dog machine exclusively.
Four elements must exist to prove there is a valid contract between the chain store and Sam Stevens. These four elements include the agreement, consideration, contractual capacity and legal object. The first element of the agreement would be deemed to exist if one person makes an offer and the other party accepts that offer. In this case, Sam did verbally agreed to send the 1,000 units to the chain store; that element does count toward a contract. The second element of the consideration would be deemed to exist if each party gets something in exchange for their promise under a contract. If Sam and the chain store agreed to what he would get in return for his 1,000 units, this element would be valid. However, this was not mentioned by either side, so the contract would not be valid.
I believe that there were two contracts made in this scenario. The first one was the verbal contract that sated that the stipulations of price and the fact that there needed to be a written contract before distributing the product. The email, since it was in writing can also count as a written contract; both parties had knowledge that there would be some sort of written agreement. Chou was in the right to think that the email stating the key terms and agreements counts as a contract.
(Cheeseman 2013). In the case of United States v. Belmont this was a Russian business that deposited significant amount of funds in Belmont which in turn was a private Banker, during the early 1900’s. During this time the Russian Government would municipalized the business and appropriated all its assets were ever they were at. Later on the mid 30’s the Russia and the United States would eventually come to a settlement and a finally settle the claim. The Soviet Union would go on to agree, that they would not to take any steps to impose claims against American citizens to include Belmont. (Cheeseman 2013).
In this example, an agreement has not been made. The ad that Pete placed in the Auto Trader is simply an offer to do business and not an offer to enter into a contract. The ad “1989 Pontiac Sunbird for sale - $6,000” is an advertisement to attract potential buyers and to initiate negotiations for a contract of sale. Paul provided a response to the ad by offering to pay $6,000 for the vehicle, which then provides Pete the option of accepting or denying the offer.
An appeal to the state appellate court was made by the defense team in this high-profile homicide case of Commonwealth of Pennsylvania vs. Zachary Witman; accused and convicted of Gregory’s murder. As a criminalistics expert, I was hired by the defense team to assist with the appeal. Considering the entirety of the prosecution case and all aspects of physical evidence in the available records, the luminal evidence, I felt, was the most damaging to the defense case; strongest aspect of prosecution case. The evidence provided has many weaknesses. One weakness is the lack of photographs explaining what the police officers were “claiming” on seeing at the Witman residence. Based on the reports, it seemed that the investigators relied just on photography.
upon a gratuitous promise, then that party can enforce the promise although the essential elements of a contract are not present.” (Promissory Estoppel, n.d.). This principal might apply to this case if the chain store, relied so heavily on receiving Sam’s shipment, that they cancelled agreements with other manufacturers that offered a similar product. Or if Sam rejected offers from other store chains and the one he made the verbal agreement with decides to not follow through and purchase his product.
Therefor what if a valid legal contract that Sam and the chain store, could it be a quasi-contract or element of promissory estoppel. Accordingly, to Quasi-contract is a court-imposed contractual duty to stop unjust enrichment. Which they are call implied-in-law contracts, they’re not truly a contract. Preferably, in the order to stop one of the party being unfair at each other expense, the courts state impose contractual responsibility knowing from one of the parties, if it shows into the contract. In this case, it shows Quasi-contract would not be a factor in this case but probably be promissory estoppel appear. (Chapter 13). In this case, there is three elements that exist A.) One person make a promise knowing the other person to be sure
Silverman thought the traditional PC will go away in the next five or six years. He thought the phone factor may change, because people will not feel comfortable being only in the place that it lives.
Assignment Question: Base on what you have learned in this course, your textbook and any reference books that you may have read, what are the problems that the main character has? What possible solutions would you suggest (with theoretical support) to solve the problems? In referring to your own life, what have you learned from this scenario and how can you apply these into your life?
A valid contract consists of all essential components which present and the court will enforce as a legally binding promise . One of the elements contract to create a contract is agreement which included an offer and acceptance. “Acceptance is a final and unqualified assent to the terms of the offer, made in the manner specified or indicated by the offeror” . Acceptance may be express orally, in writing, occasionally, or even by implied from the offeree’s conduct. In communication of acceptance, general rule claimed that acceptance ordinarily occurs at the time when, and the place where the offeror receives the acceptance .As a general rule, “what must be accepted is what was offered” , it exclusive of addition, deletion, or qualification.