Jim And Laura Buy A Car Case Summary

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Did Jim and Laura Buy a Car? Jim and Laura didn't purchase any vehicle according to the case analysis since the elements of the contract in the unwritten contract. Initially, Jim and Laura voluntarily visited Stan the salesman in his dealer shop and willingly agreed to grant Stan a hundred dollars to keep a specified blue four-door sedan car for a day. The existence of the business contract is justified by the essential elements of a contract applied the buyer and the seller that include an offer, acceptance, and considerations to accept the terms (Billah, 2006). An example is a hundred- dollar offer made by the couple to Stan, to hold the particular car. The couple made a hundred dollars offer to Stan which is an element of a legal contract. An offer is a …show more content…

A competent party with the capacity to perform is held responsible and is liable for duties the party agrees to execute unless the individual is incapacitated, intoxicated, or a minor. Stan, the salesman, is considered capacitated to enter a legal contract since he is a mandated dealer to offer clients the opportunity to test the cars and seal purchase deals through purchase contracts. Therefore, Stan is liable for breaching the initial contract terms by insisting on new terms through the phone that the buyers did not agree on, Stan is legally responsible for refusing to give back the hundred dollars to Jim and Laura. However, Jim and Laura could have explained to Stan that their ability to purchase the car is based on four hundred dollars installments and therefore give Stan Salesman an opportunity to understand Jim and Laura’s capacity. Jim and Laura’s reason for not purchasing the car justifies that they did not have the financial capability since they did not want to spend the four hundred dollar monthly installments on the

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