United States Contract Law Essay

Identify the facts from the scenario which support your decision on whether or not a contract exists for the purchase of the automobile.

The first element of a contract is the agreement, which is defined as including an offer and acceptance of the offer. The offer must include an intention to be bound by the agreement, reasonable terms, and communication (Kubasek, 2012p. 324). In the verbal discussion between Sam and the store manager, there appears to be an attempt to form a bilateral contract because the store has promised exclusivity to the dog barking device, and Sam has offered to deliver 1,000 units. The verbal interaction shows an intention and communication of agreement to the contract. However, the terms are not fully defined in this agreement. Specifically, the

They went ahead to confirm their verbal agreement by paying an amount that partly makes them show desire to purchase the automobile. In return, with mutual understanding the salesman keeps the car and calls them to confirm if the purchase would be completed. A contract that is legally binding does exist here. There are factors in this scenarios that show a legally binding agreement is in existence.

Most contracts are valid despite the fact that they may be only oral. Dan was knowledgeable that Pat wanted to buy a home, which she was not financially qualified to purchase. Consequently, he offered to purchase the home and sell it to her, when she had the capital to do so. The statement of Don to Pat, “When you come up with the money, I will sell the home to you for $250,000, plus a fair commission to be determined”, and Pat’s search and identification of a suitable home, and Dan’s purchase supports each intent to be bound.

In order to have a valid contract, Marsha should make an offer to buy the car and Jim has to accept it given the fact that all terms of sale has been agreed on.

Question 4. 4. (TCO 4) Sandy mails a letter back to Andrea that she has signed; the letter makes reference to a car Andrea has for sale and Andrea’s desired price. When Andrea later delivers the car to Sandy, Sandy returns the car, claiming she does not want the car and that they did not have a contract, so she is not bound to keep the car. Andrea, however, claims they do have a contract and wants to enforce said contract for the price of the car. What standard would the court use to determine whether there is a contract between the parties for the sale of the car? (Points : 25)

The offer and acceptance model is flawed- only an agreement is necessary. In order to fully comprehend this statement, we must first establish what constitutes and offer and what constitutes acceptance. “An offer is a statement by one party of willingness to enter into a contract on stated terms, provided that these terms are, in turn, accepted by the party to whom the offer is addressed”. Acceptance is “…an unqualified expression of ascent to the terms proposed by the offeror”. The “Offer and acceptance model” is based on the court’s adopt the “mirror image” rule of contractual formation. Applying the definitions stated above, we can take this to mean that there must be a clear and unequivocal offer which must be matched by an equally

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.

In order for a contract to be considered valid four elements must be present, 1) Agreement 2) consideration 3) contractual capacity and 4) legal object (Kubasek, N. 2011 pgs. 304/305).. In Sam’s case of his invention, the first element, Agreement, certainly exists. Sam had made a verbal “offer” to deliver one thousand units to the chain store, and the stores letter to Sam demanding delivery of the product can be considered an acceptance of his offer. The second element of a contract is the consideration or the bargained for exchange under the contract (Kubasek, N. 2011 pg. 343). While one might assume that in this situation each party had agreed to exchange something for others services, there is no evidence

The offer had been agreed upon from both parties is important. The acceptance of an offer cannot alter the terms of the specified in the offer. “An offeree accepts by saying or doing something that a reasonable person would understand to mean that he definitely wants to take the offer.” (Beatty, 2016) Once the buyers or offeree came to an

for it to qualify as a proper contract in the eyes of the law: offer

The last requirement of a valid contract is that its provisions be legal. If a

In order for a contract to be formed, there are various requirements. These are offer, acceptance, consideration, and the intention to create legal relations. A contract may also be terminated.

Many individuals do not understand the full significance of the terms outlined in a contract until they find themselves at the receiving end of litigation. In addition, they do not recognize that a contract can be established with as little as a verbal agreement between parties which can, as with a written contract, become the basis to award damages in the event that one or more members default on the agreement. When individuals make purchases they form contracts with the entity whose business they patronize. Formation of a contract for sale need only entail an offer and acceptance between parties and is legally binding when agreement and consideration are ascertained. The purpose of this paper is to address legal

The scenario between Arnold, Bertram, Charlie and Doris is a classic issue of offer and acceptance. These are two elements of a valid contract. The scenario also raises its potential of being an invitation to treat as this is a stark contrast to that of an offer. That is, we must consider whether the notice placed on the car constitutes a valid offer or if it was a mere invitation to treat. If this notice does amount to a valid offer where Arnold outlines the terms and conditions (the price at which he was willing to sell and his telephone number) by which he is willing to be legally bound we must look at the possible issues that may arise and what possible steps Arnold can take to deal with his situation.