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Contract law case analysis
Contract law case analysis
Contract law case analysis
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Question 1 Within in scenario A, Rhianna and Chris enter into a written contract in which Mr. Brown was to sell his knife collection for an agreed upon amount of $5,000 that was to be paid in 2 installments of $2500 dollars. The first payment was to be made when Rhianna picked up the knives from Mr. Brown and the second payment was to be made exactly one month later. The first legal issue at hand is if the written contract had a clause that stated whether or not an assignment could be made. Some contracts prohibit the move of assignment; others may require that the other party consent to this assignment. Because this isn’t stated, there is not way to prove whether or not this clause agrees. It gets tricky because Rhianna knowingly told Beyoncé …show more content…
In an attempt to make peace with all this, Mr. Brown buys both ladies their first round of drinks and they all sit and start chatting. The contract comes up and Beyoncé mentions an interest in some, if not all of the knives in question. Beyoncé then writes on the cocktail napkin that she agrees to pay Mr. Brown the remaining $2500 that is owed by Rhianna by next Friday. Mr. Brown and Beyoncé both sign it, but not Rhianna. Now the major issue at hand is that there is still the original contract between Brown and Rhianna; that’s still in play. But then Rhianna tried assigning duties to Beyoncé, who was visibly intoxicated and clearly not in a competent state of mind. But then there’s this next agreement, on the napkin, but not all parties sign. Did Rhianna agree to …show more content…
I still think that Brown would win in this with scenario because, yes, he got the first $2500 from Rhianna, but nothing says that Rhianna agreed to the contract written on the napkin where Beyoncé stated that she’d pay the remaining $2500 owed by Rhianna for some if not all of the remaining knives. Because they were of sound mind it makes the contract legally binding because both parties agreed to it. But because there is still a contract in play; Brown is essentially entering into another contract with a different party for the same the same item. But if Rhianna had agreed to this then it in turn puts the remaining liability on Beyoncé because she, this time, knowingly entered upon an agreement and didn’t follow
Maria had spoken with Eva over the phone concerning the correct total amount of $60,000 for rendering decorating services provided by Eva. Maria had sent a letter of the telephone conversation stating that Eva agreed to take $60,000 in full satisfaction obligation under the contract. Although Eva, changed her mind when depositing the check in the bank, she legally entered a mutual agreement over the telephone where it resulted in a unliquidated debt, payment is lower than actual.
This case study examines various real estate contracts – the Real Estate Purchase Contract (REPC) and two addendums labeled Addendum No. 1 and Addendum No. 2 – pertaining to the sale of 1234 Cul-de-sac Lane in Orem, Utah. The buyers in this contract are 17 year old Jon D’Man and 21 year old Marsha Mello; the seller is Boren T. Deal. The first contract created was Jon and Marsha’s offer to purchase Boren’s house. This contract was created using the RESC form, which was likely provided by their real estate agent as it is the required form for real estate transactions according to Utah state law. The seller originally listed the house on a Multiple Listing Service (MLS); Jon and Marsha agreed that the asking price was too high for the neighborhood (although we are not given the actual listing price), and agreed to offer two-hundred and seven-thousand dollars ($207,000) and an Earnest Money Deposit of five-thousand dollars ($5,000). Additionally, the buyers requested that the seller pay 3% which includes the title insurance and property taxes. After the REPC form was drafted, the two addendums were created. Addendum No. 1 is from the seller back to the buyer, and Addendum No. 2 is the buyer’s counteroffer to the seller.
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
When discussing the concept of contract law, there exist two bodies of legal rules that may apply to the contract. These bodies are the common law of contracts and Article 2 of the Uniform Commercial Code or the UCC. The common law of contracts is court made and is constantly changing, but the UCC is required in every state within the U.S.A. It is important to know which one to use and when, as well as what the differences between them are.
1.1 Explain at least four points of differentiations between contract and agreement with the help of examples.
I have been given full authority to resolve this matter with Mr. Napier. After agreeing to the above chain of events, Mr. Napier still contends that he is entitled to full compensation as his contractual obligations were fulfilled. PADD is willing to compromise and pay a portion of the fee. However, because of the nightmare that Mr. Napier’s misconduct caused, is not willing to pay the contract in full. The compromise set forth in the negotiations are: PADD will pay Mr. Napier $5,000 and Mr. Napier will release a statement saying in part that he is not in any way affiliated with the non- profit
In analyzing the various facets of these two cases, we must first look at the arrangement between Mr. Sam Stevens and the store to determine if, in fact, a legal contract was at hand. The first necessary element in a contract is the agreement. An agreement is reached when one party makes an offer, and the other party accepts. In this case, the store offered to purchase 1,000 units of Mr. Stevens’ product, his verbal assent to the store manager constitutes an acceptance of said offer.
The case presented is that of Sam Stevens who resides in an apartment. He has been working on an alarm system that makes barking sounds to scare off intruders, and has made a verbal agreement with a chain store to ship them 1,000 units. He had verbally told his landlord, Quinn, about his new invention and Quinn wished him luck. However, he recently received an eviction notice for the violation of his lease due to the fact that his new invention was too loud and interrupting the covenant of quiet of enjoyment of the neighbors and for conducting business from his apartment unit.
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.
Clare will only be legally bound to her promise to pay the extra £2,500 if Ben can establish that he provided fresh consideration for the promise beyond performance of an existing contractual duty. The traditional view of consideration is that something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances. The economic value of the consideration can be insignificant, but it cannot be in recognition of past event, nor can it be the performance of an existing contractual or public duty. Clare will view the situation as being very similar to Williams v Roffey Bros & Nicholls (Contractors) Ltd [1991] 1 QB 1. Even though, she can argue that Ben had not given sufficient consideration
A contract is an agreement, either oral, in writing or inferred by conduct, between two or more persons (the offeror and offeree or promisor and promisee) which is usually intended to be legally binding. A contract concerns 3 main issues, firstly, is there a contract? Secondly, is the agreement one in which the law recognises? Thirdly, when do obligations under contract come to an end and what remedies are there if a contract is broken? (Jones,2015). The question at hand surrounds Sam, who had been offered the opportunity to earn some money for university by helping Jo. But when Sam leaves for university, Jo refuses to pay any money. The following discusses whether Sam has a contract and whether he is entitled to be paid.
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.
The issue in this case is whether there is a legally binding contract between Roland and Bernie. The things that needs to be considered is whether there is an agreement between Roland and Bernie. If there is an offer and acceptance, then there is an existence of agreement. According to Section 2(a) of the Contract Act 1950, offer can be defines as when one person implies his/her willingness to another in order to acquire their consent. (Abdullah et al, 2011) The person who make the offer is known as ‘offeror’ or ‘promisor’. (Lee and Detta, 2009) An offer can be made in the method of orally, by conduct, writing or by the mixture of these forms. An offer must require an effective communication with offeree. The formation of contract when offeree accepted the proposal. (Dass, 2005)
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,
Consideration is an aspect of the concept of mutuality underlying the law contract, and it is each party in contract bargains with and gives in exchange for return promise or performance of other party. In this case the consideration is an executory and the price $1,900 is has a legal value so the consideration is sufficient and the original price that Tony would like to sale is $1,900 and Emma received this price so the consideration is adequate. Therefore, there is a valid