Seidner Vs. Steve Whitcomb Case

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Issue Overview In order for a contract to be enforceable, there are seven key characteristics that must be present: offer, acceptance, consideration, legality, capacity, consent and writing (depending on the situation). The Eric Seidner and Steve Whitcomb case describes an example of what is believed to be a bilateral contract in which both parties agree to form a partnership. The problem with an oral agreement as compared to a written agreement is that there is no formal document between the parties. A major issue that comes up when dealing with oral contracts is, what is true and what is false. You have one party stating one thing and the other party telling a different story. The examination of if this oral agreement will be enforceable …show more content…

The case states that Seidner agreed to help finance the properties, so presumably there is some sort of paper trail that will lead the court to believe that Seidner played an active role in the development of these properties. Examining consideration - why would Seidner agree to finance these buildings if he did not expect anything in return? Though there was no written contract outlining what was owed, the court would find it suspicious if Seidner was financing developments for Whitcomb with no expected …show more content…

A reason for this would be that he potentially could be hiding this project from those other legal proceedings to protect his self interests and not being fully honest with the court of his assets that would be divided up in a divorce or that he was receiving income from a development that could be used to settle his tax problems. Additionally, the court would identify this as a Statute of Fraud case due to the transfer of land as suggested in the partnership agreement. In a transaction that requires land to be transferred, it is required by the law for there to be a written agreement. Lastly, The court may also suggest that the relationship in question might take more than a year to complete and therefore require a written contract. That reasoning is a bit loose, as the divorce along with the tax problems could be cleaned up within a year, but probably not. Thus, the court would most likely not use this as part of their rationale for the

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