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Questions on contract formation
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The following is an analysis of a business situation between a supplier and a specific buyer of their product where the validity of a contract, and potential breach of contract is to be considered. Included in the analysis is the statement of facts, relevant legal rules of law, as well as a biblical perspective that can be considered in coming to a resolution and optimal outcome that will be mutual beneficial for both parties. The facts John Doe, an owner of a local produce company, produces Muscadine grapes that are known to contain high antioxidant qualities. John Doe recently gained Marshall Peterson’s business, supplying his local health food products business with a regular shipment of the grapes. Mr. Peterson has established some frequency …show more content…
First, is the requirements contract that was presented to and signed by John Doe’s minor son, a binding contract? There are some considerations of law that will address this specific issue further in this analysis. Secondly, is there an implied contract, and what is the course of action that the two parties take moving forward, from both a legal aspect as well as a biblical aspect? Lastly, the two men met in their Sunday School class, and Mr. Peterson is not a Christian. What are the ramifications from the contractual conflict to the new relationship of John Dow and Marshall Peterson, and what are the potential impacts on Marshall’s exploration of his faith? Potential Causes of Action to Produce Business Marshall Peterson has invested a significant amount in advertising, and growing his business of offering the Muscadine grapes that John Doe’s company supplies to him. In the event that Mr. Peterson is required to either discontinue the sale of the grapes, or will need to locate and establish a new relationship with a new supplier, his business will likely be negatively affected at least for a short time. If he chooses to pursue legal action, then there are certain legal considerations that he will enlist to build his case. good faith and fair …show more content…
In order to have a valid contract, there are six elements that need to be established. The following is a defined list of these elements, as well as analysis pertaining to the case at hand. legal offer. A legal offer is “an offer that shows objective intent to enter into the contract, is definite, and is communicated to the offeree” (Kubasek et al, 2015, p. 244). The legal offer in question is the offer to supply Mr. Peterson’s requirement of Muscadine grapes at a price that he was already accustomed to paying. I believe that this offer did exist unilaterally by Marshall Peterson. legal acceptance. A legal acceptance is an “acceptance that shows objective intent to enter into the contract, that is communicated by proper means to the offeror, and that mirrors the terms of the offer” (Kubasek et al, 2015, p. 247). In order for the offer to be accepted, as stated above, there has to be communication of that offer. John Doe was not aware of such offer, and he was only conducting business by way of individual requests and invoices at the time of each request. Consequently, it should be noted that the invoice can be considered evidence of a contract, however not a contract in itself alone (2015). Does the trend of requests equate to an implied contract to serve Mr. Peterson’s requirements? This question will ultimately be addressed by a court, however I would suggest that there is a chance
Takem’s is an appliance store in the state of Virginia serving the residents of the Appalachian regions of Virginia, Kentucky, Tennessee, and West Virginia. The business model which is currently being conducted in the appliance store has been called into question by one of the customers who has recently purchased a computer on credit. The owner of the store, Tommy, is now contemplating what should be done to handle this situation and protect his interest in the future. In this discourse, the author attempts to reveal to the reader the alleged infractions that Takem’s may be liable for regarding the situation with his customer, Ms. Sally
...is not in writing, the contract is still enforceable because the standard purchase order contains the required elements. Bill’s oral agreement serves as authorization.
When Berry and I gave Billy Greene our note for the purchase of his store, he assigned it—without advising us—to Reuben Radford from whom he had previously bought the business. Radford then endorsed our note to Peter Van Bergen, a keen-eyed businessman, to satisfy a debt. When Radford failed to pay, Van Bergen brought suit against Berry and me.
Erik Peterson faced a number of challenging situations with Jeff Hardy, a high level employee with CelluComm, the parent company of GMCT. At first we see an awkward relationship with Jeff Hardy whom Peterson had been assigned to work under by Ric Jenkins, partly due to the lack of concrete relationship guidelines between the two (Sami, 2013). Hardy had very little operational experience, and Peterson felt that he was unable to receive constructive guidance from Hardy. As a subordinate to Hardy, Peterson should have instead attempted to resolve this problem early on as it was a critical relationship within the GMCT Company. Consulting Hardy by letting him know of his concerns would have been a more efficient and respectful manner in handling the situation. This relationship building would also have been integral in facing the Peterson-Hardy communication issues with respect to the local municipalities and fire department. Operant Learning Theory (Johns & Saks, 2014, p.54) suggests that as a result of this negative consequence Peterson should be able to improve his interpersonal skills specifically with superiors within the organization moving forward. As a subordinate to Hardy, Peterson should have instead attempted to resolve this problem early on as it was a critical relationship within the GMCT Company.
In this assignment we will exam three case-studies and determine whether the best course of action would be litigation, ADR or criminal prosecution. In the first we look a case of embezzlement, the second is a case of product liability and the third involves a supplier providing non preforming goods. We will evaluate the specifics of each and determine the best course of action. Spoiler alert, some of these may involve more than one course of action.
The purpose of this essay is to determine if there was an enforceable contract between Sarah and Barry, and whether Sarah breached the said contract. In formulating a contract one must consider four main elements: offer, acceptance, intention and consideration. These four elements will be covered in detail to be able to advise Sarah on the strength of her legal position.
D'Amore, Frank. July 2005. The Art of Negotiation A Package. Corporate Legal Times, pp.64-65. Retrieved October 15, 2005 from EBSCO host.
Various elements must be present to prove that a valid contract exists between Sam and the chain store. The four elements to a contract are agreement, consideration,
A contract is an agreement that can be enforced in court and is formed by two or more parties who agree to perform or to refrain from performing some act now or in the future (Miller, Cross, and Jentz 289). In other words, it is a set of legal promises between two or more people or businesses. Contract law includes the elements of a contract, genuineness of assent, fraud, duty to disclose, disaffirmance and good faith. In order for a contract to be valid, there are essential elements that it must have. These elements include: an agreement, consideration, legality, and capacity.
The basic law of a contract is an agreement between two parties or more, to deliver a service or a product. And reach a consensus about the terms and conditions that is enforced by law and a contract can be only valid if it is lawful other than that there can’t be a contract. For a contract to exist the parties must have serious intentions, agreement, contractual capacity meaning a party must be able to carry a responsibility, lawful, possibility of performance and formalities. Any duress, false statements, undue influence or unconscionable dealings could make a contract unlawful and voidable.
A contract is an agreement between two parties in which one party agrees to perform some actions in return of some consideration. These promises are legally binding. The contract can be for exchange of goods, services, property and so on. A contract can be oral as well as written and also it can be part oral and part written but it is useful to have written contract otherwise issues can be created in future. But both the written as well as oral contract is legally enforceable. Also if there is a breach of contract, there are certain remedies for that which are discussed later in the assignment. There are certain elements which need to be present in a contract. These elements are discussed in the detail in the assignment. (Clarke,
Straight forwardly said! It is a valid contract, but it’s an express (verbal/on phone call) contract in nature. Not all validities are satisfying according to law requirement. Obviously these all elements are must require to be fulfilling for forming a contract.
Offer and acceptance: For an agreement to be enforceable by law, there have to be a lawful by one parties and other party must accept that offer lawfully. There are some rules regarding making an offer and accepting that offer. We will discuss about these rules regarding offer and acceptance in our next post. So keep visiting.
This section carries huge significance that if not well managed, it would adversely affect the sales volume of the Confidos Berry. More than one method of payment should be available to the customers. They should have the right to choose from, the method suiting them. Refer all information related to the legal concern of the product on the site. Be sure to mention the cost of various bottles of the Confidos Berry. Be punctual in legal and tax matters from the initial stage of business (WARD, 2017).
I selected Case 1 Thomas Food and I have been employed by Thomas Foods to plan and execute a supporting methodology that will insulate the organization from the dangers that are related with obtaining harvested crops from neighborhood crops. The main key terms I should use to help encourage my assessment procedure are in climate weather or potentially disastrous events, operating income, and free market activity. Clearly, with regards to working with farmers and their products, the climate as well as catastrophic events can majorly affect the prices of the harvests, which can essentially help or mischief Thomas Foods' association with their suppliers. Another key term to remember all through my study is "operating income," in which