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Four elements to a valid contract
Six essential elements of a valid contract
Law relating to contract
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E-Business Contract Law Case Study Analysis I. My first gut was to say that this was a contract. The website made an offer to send free software to anyone who sent his/her email address. Upon further review, I have decided that this example does not meet the essential elements of a contract as described below. Our lecture stated "to be an offer, a communication needs to be sufficiently definite so it manifests the willingness to enter into a bargain (a binding contract), not just to conduct further negotiations toward ultimately entering into a bargain." With the opened question of "cool software," that leaves it open for further negotiations. What type of software is "cool software"? If the offer was more specific I think we could go on to the next rule of acceptance by entering and sending our email address, but this offer had no terms, there was no payment for the software and was left up to the offeree to determine what type of software was considered cool to him or her. This offer is also lacking certainty and definiteness of terms, which would not make it complete. According to our text, "At a minimum the offer has to contain the identities of the parties to the contract, the subject matter of the contract, the price and the quantity. In most contracts, the offer actually has to contain more terms than price, quantity, the parties, and the subject matter of the contract. If a material term in the contract is missing, then the offer is incomplete." II. I feel that the second case shows that a contract has been formed regardless of the fact that John's twelve year old son completed the transaction by entering John's name and clicking the submit button. John had essentially added all the pertinent information. The offer was made by listing the product and price of network equipment on the website. A Click-wrap agreement was made and accepted by completing the form signature and clicking on the submit button of the statement "If you accept the agreement to purchase the listed equipment for the price on this form$5,000signify your acceptance by typing-in your name as your signature." John has previously entered his credit card information prior to going for a walk. John should bear responsibility because he was negligent in leaving his credit card information on the computer unattended. Then we consider the UCITA Section 102(5) Attribution Procedure, which is a "procedure for attributing to specific individual a specific electronic event such as ordering software over the Internet.
Our decision was based on determining if there was contract formed and if the terms of said contract were performed by both parties. We found that Abigail placed an advertisement with the intent to lead readers to believe that she was selling “purebred toy breed puppies” for $100, “quoted for immediate acceptance”. Alex responded to Abigail’s advertisement and accepted her offer by submitting the required $100 payment to the P.O. Box, as stipulated in the advertisement, and inquired about when he could pick up
a) Given that Eva and Maria entered a written contract supported by a legal document for a price agreed on $75,000 for rendering decorating services, there is consideration. Both parties agree upon a price and this contract verifies validity.
According to the Minnesota Court of Appeals (2005) the written offer is not evidence of a completed contract and therefore no contract existed.
Walker, Takem’s has the statutory law of contracts in his favor. In a contract, the seller and the purchaser have certain rights and obligations. Four basics must be met for a contract to be created (Chrisman, 2014). First, the offer has to be made. In the case at hand, the door-to-door salesperson made an offer of a computer to Ms. Walker. Second, the consideration has to be accepted. Ms. Walker accepted the offer to purchase a computer. The third step is capacity. The purchaser must be legally capable of entering into a contract; minors and the mentally incompetent are excluded in this case. Takem’s has given Ms. Walker the computer in exchange for her payments on her store account. Finally, the intention to enter into a contract has to be present. Ms. Walker signed a bill of sale, a security agreement, and a negotiable promissory note- which is an unconditional promise to pay a certain sum of money at a certain time in the future. Though Takem’s has the advantage to combat her claims, Tommy needs to ensure that his salespeople have not made any false statements or misrepresentations to Ms. Walker as this could have legal implications for the store and against the contract (Vaccaro, 1987). Ms. Walker is legally bound by the contract she agreed to in exchange for the computer; however if there has been any misrepresentations or false statements Ms. Walker may be able, with legal assistance, to call the contract into question
There were also no terms or conditions to perform, nor a time or event of completion of performance. “USLegal.com helped further explain the requirements of a legally enforceable contract by providing the following elements that must be adhered to, in order for a contract to be legally binding: an offer; 1. an acceptance of that offer which results in a meeting of the minds, 2. a promise to perform, 3. a valuable consideration, 4.
The four elements of a contract are the agreement, the consideration, contractual capacity, and a legal object. The oral agreement between Sam and the chain store satisfies the agreement element of a contract definition because when the chain store offered to sell Sam 's invention at their stores, Sam accepted by agreeing to ship 1000 units in exchange. The second element of a contract, the “consideration of each party,” is satisfied because Sam and the chain store have something to give the other (1000 units of the invention in exchange for the exclusive sales of the product at their stores). The third element is “contractual capacity,” which may or may not be fulfilled since we do not know Sam 's age or whether
If an offeror makes an offer to an offeree by letter and it is lost in the mail, no legally sufficient offer has been made.
The rule is that for an offer to be present, there must be an act whereby one person confers upon another the power to create a contractual relation between them. For example, in Owen v. Tunison, Owen inquired about buying Tunison’s property for $6,000, and Tunison replied that “he would not able to sell for anything less than $16,000”. The reply to the first inquiry was a quote on the price and an did not convey a desire to sell his property. Tunison did not intend his reply to be a binding offer but an opening of negotiation, he does not confer the power to accept the contractual relationship to Owen through his response. In this case, there is a similar initial question, by Puck, asking how much Oberon would sell his tavern for. Oberon responds telling him that if he was to give him a buck and take on whatever tax debt that my come up then, he would “almost” surely give him the tavern. Here, when Oberon says almost he does not intend to be bound by the price quote, but is expressing that, if he was to sell the tavern, it would be for those conditions. He does not confer the ability to conclude the contractual agreement to Puck. There is no valid offer by Oberon to sell his tavern to Puck, his response was a price
Since the elements were met to satisfy an actual contract being made, with promises albeit moral and legal, the behavior in which Johnny executed warrants a breach of contract on his part. Also to note is Johnny is not a merchant under the Uniform Commercial Code (UCC), which defines a merchant as “a person who deals in goods of the kind or otherwise by his occupation holds himself out as having knowledge or skill peculiar to the practices or goods involved in the transaction” (American Business Law Journal, 1970). Had Mark been identified as a merchant, he would have been held to a different set of rules and Johnny would have been protected, but Mark is a casual seller and not held to a higher standard of
receiving money by means of computers in an easy, secure and fast way using an account-based system. This can be
An offer can be made to one person or a group of persons or to the world at large. The offeror is bound to fulfil the terms of his offer once it is accepted. The offer may be made in writing, by words or conduct.
This paper examines the legal aspects of procurement management and specifically how procurement management can be used as an effective tool for the overall management of a project. This paper focuses on the basics of common contract laws, the basics of agency law, the Uniform Commercial Code (UCC), and some aspects of that pertain to the Federal Acquisition Regulations (FAR). A summation of the company’s position in relation to a given supplier (provided the company decides not to procure all of the material in a contract) will be examined along with how that position is strengthened by understanding the legal aspects of procurement management. Finally, the paper will analyze how the project manager is supported by the contracting management function.
This judgment given set criterion which is still been used in the modern court system and due to this case it was developed that an offer of contract can be unilateral and doesn’t have to be made to a specific party only. Also it was developed to that the acceptance of an offer does not require a notification and that once the concerned party purchases the product the contract is active then and there itself. And it was also established that purchase of an item is a fine example of consideration and therefore makes it a valid contract. (Smith, 2000).
Digital Rights Management is something implemented by companies in order to solve a legitimate problem: Piracy and copyright infringement. This means of protection is used not only in the entertainment sector of the internet, but also other sectors such as research and development and even business. Albeit this means of solving said problem does have its benefits, people generally do not appreciate being told what they can and cannot do with the things they purchase thus leading to several conflicts.
The information age is the age we live in today, and with the information age comes an age of ethics. When we deal with the new technologies introduced every day, we need to decide what we must consider ethical and unethical. We must consider all factors so that the use of the information readily available to many persons is not abused. "Information technology will be the most fundamental area of ethical concern for business in the next decade" (Houston 2). The most widely used tool of the information age is the computer, whether it be a PC or a network of computer systems. As we enter the information age the newness and power of information technologies tests the ethics of the average person, not just the criminal and causes thousands of computer crimes to be committed daily. The most common computer crime committed daily, some aware and many not, is the illegal sharing of computer software. Software is any of the programs used in operating a digital computer, as input and output programs, as defined by Funk and Wagnalls Standard Desk Dictionary. When you purchase computer software, you purchase it with the understanding that it will be for use on a single computer, once installed on that system, it is not to be loaded on any other computer. However many people are not aware of this understanding, and many load a program on a couple of computers or on a whole network of computer systems not aware that they are committing a crime.