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Contract Law - Case Analysis Offer, Acceptance Term Paper

… Contract Law - Case Analysis

OFFER, ACCEPTANCE, and REPUDIATION: CASE ANALYSIS the Court will likely find that the parties had already formed an enforceable bilateral contract for the sale of the property and that Bradwell (hereinafter, "Buyer") performed under contract by tendering payment on the date specified by Seller and the Court will compel the performance by Stone (hereinafter, "Seller"). The seller will argue that the buyer's sending a cashier's check on March 10th violated Condition #3 of his letter specifying that the requirement to issue the $5,000 deposit by wire was not capable of being accepted through payment of a deposit by any other means. Seller will contend that Buyer's failure to issue the deposit payment in the only manner explicitly specified as acceptable…. [read more]


Contracts Law Term Paper

… Therefore, it was necessary for the contract to be in writing.

It is unclear whether or not all of the terms of the agreement were contained in the writing. Although the facts state that the parties agreed on the delivery date for the computer, it is unclear whether or not the date of delivery was contained in the writing.

There was a breach of contract. A breach of contract occurs when one party fails to fulfill its contractual obligations to the other party. Galaxy breached its obligation to deliver a Pentium 4 to Gabrielle on the specified date. Gabrielle may or may not have breached her obligation to deliver her trade-in and a $1,000 down payment on that date, depending on the terms of the…. [read more]


Contract Term Paper

… 3. According to the text, "offers, once made, do not last forever. At some point in time, they terminate," (p. 329). Lapse of time is one of the core instances an offer will terminate in law. A "reasonable amount of time" is determined and in this case clearly a reasonable amount of time is linked directly to the day the offer is made. Two weeks is too long for a commodity market offer to remain valid. Moreover, both parties are members of the oil industry and therefore fully aware of the fluctuating price of the commodity. There is no possible way either party was unaware of the fact that crude oil prices fluctuate on a near day-to-day basis.

Therefore, the original offer had an unequivocal…. [read more]


Elements of a Business Contract Term Paper

… Business

Elements of a Business Contract

The successful business contract has several key elements that will help make it successful. The first article located on the Quicken.com Web site gives much useful information in a concise, well-written article. The author first lists several reasons a business contract might be necessary, including consulting services, leasing of equipment or real estate, manufacturing, and even when payment is due, along with several others. He then lists the items that should be contained in a standard business contract, including the names of both parties, the date of the contract, the length of the contract, the price, or cost of services, and what those services will be, among other considerations. Perhaps the most helpful elements of this article are the…. [read more]


Contract Case Study

… However, something that will be Barry's undoing on the detriment he would or would not have received would be based on two things. First, there was no guarantee, since it never technically happened or got completed, that he wouldn't have got rolled the by glow worms people as well and Iva had no bearing on that. Second, and more important, is that a true and specific offer was never codified or laid out. As mentioned before, since Iva was never specific, she could just low-ball Barry and dare him to reject or accept the offer. Since she never put a figure behind it, she's not under any burden to offer any specific amount. The court may reject her low-balling him too much, but she could…. [read more]


Terms of a Contract Case Case Study

… CONTRACT FORMATION ISSUE -- HUNT V. MCLLORY

Case Background and Decision

Hunt owned and operated a farm. He borrowed $175,000 from Mcllory Bank and the two parties also discussed long-term financing for the farm. The discussions about long-term financing were oral and there were no specific terms ever agreed upon about the dollar amount, repayment terms, or interest rates. Hunt signed a promissory note for the loan and eventually defaulted on it. The bank foreclosed on the farm and other collateral for the loan. Hunt countersued arguing that the bank had breached the oral agreement to provide long-term financing to the farm. The court ruled that no contract for long-term financing had ever been created because the oral discussion did not create a contract since…. [read more]


Contracts Law: Disney World Jurassic Capstone Project

… M. Wright about how to proceed will be stated.

An oral agreement is just as binding as a written agreement in a court of law. Watson had made an oral agreement to Watson, representative of Disney, to sell the lot for $100,000, therefore, this is a legal and binding agreement that would be upheld in a court of law. I.M. Wright would be advised to question Watson extensively about the agreement to ensure that there was an oral agreement on the sale and purchase of this lot between Mankin and Disney.

Question Seven

Disney wants to contract with Stephenson, Inc. To build an office building for Disney to use near the park site. . The building must be completed within six months or Disney will…. [read more]


What Is a Construction Contract? Term Paper

… Construction Contract

Composing a contract is an important part of any project. The terms within that contract determine what exactly needs to be done, how much time is available for work to be done, who is liable for any damages, and all information about payment and payment schedules. This information needs to e clearly laid out as to avoid disputes and complications later on after the project is under way. Along with the General Provisions of a contract, which include speculation information, agreements, grantees and warrantees, resolution of disputes, references to standards and codes; there are also specific provisions which will differ to each construction project. These include, but are not limited to time schedules and how to handle delays, how to handle changes in…. [read more]


Contracts Case Study

… Question Two

As for the distant deal making, there is probably not a contract due to the order in which the events happened. Based on the actual timeline, Maria extended the offer, Koji accepted the offer (although not known to Maria at that time), then Maria retracted her offer and then found out that Koji accepted it, in that order. So long as Maria could prove that she retracted the offer BEFORE she knew of its acceptance, then there is nto a contract. However, if Maria cannot prove the timeline in question, then she might be on the hook because the acceptance (late Friday) was tendered before retraction (Saturday). Generally, there is an offer and then an acceptance. However, if the offer is retracted before…. [read more]


Contract Law Under the UCC Term Paper

… References

Contracts I - Professor Rose 1999 at http://tufte.net/jerod/law/outlines/JT-Contracts.htm

Quasi-contract from Wikinfo, an Internet encyclopedia available at http://www.internet-encyclopedia.org/wiki.phtml?title=Quasi-contract

3. Under contract law, a contract comes into existence when there is an offer made and the offer is accepted. Furthermore, the offer has to be explicit and communicated to the offeree. Once the offeree accepts the offer, the contract becomes binding and is effective. In Morrison's case when Morrison decided to make an offer to Thoelke through a letter, his offer had been explicit and has been communicated to the offeree. Thoelke in turn receives the letter and communicates to Morrison of his acceptance of the price and terms quoted in the initial letter. The contract between Morrison and Thoelke becomes binding (No. 97: Irving Sonnenschein,…. [read more]


Legume and Arrow Contract Order Case Study

… d.).

4. Rule (Statement of the Law): There are laws that apply to business deals and contracts because there are specific duties that both parties need to accomplish by their companies when they start a pact, and when this is not rewarded the regulations of a company and the government calls this a law as a "Breach of Contract." Depending on the particulars of a contract, a violation can transpire when a party, such as Arrow in this alleged suite has stopped working to complete the deal in harmony with the conditions of the conformity and does not aspire to carry out the contract at all like Arrow considers at this time because they think it is unjust and not right in their position. The…. [read more]


Contract Law- Offer and Acceptance Term Paper

… The additional terms are to be considered as proposals for additions to the contract, unless they materially alter it, the original offeror already objected to the additional terms, or the offer expressly limited acceptance to the terms of the offer. Therefore, if Arden-Mayfair had previously indicated that it would not convey the property to Meister and Murphy if their wives did not also become owners, the contract would not be enforceable against Arden-Mayfair. In addition, if Arden-Mayfair placed a condition in its offer that expressly limited the terms of the offer, the changes by Meister's attorney would have prohibited contract formation. However, under UCC § 2-207(3), if the parties acted as if they had a valid contract, it would be enforceable against Arden-Mayfair, even if…. [read more]


Contract Termination for Mistakes Essay

… Situations that bring about termination of contracts can be somewhat distant from the context that surrounds the business agreement. External forces can drive an incentive to terminate a contract. This is particularly true when some external situation has made it impossible for one or more of the parties to the contract to fulfill their obligation to the other parties of the contract ("The American Law Institute," 2007). Occasionally, one of the parties to the contract will take action or behave in a manner that signals that they will not meet the terms of the contract -- that, in fact, a breach of the contract is about to occur. When this situation arises, the party that was expecting the contract to be held may instead terminate…. [read more]


Contract Capacity and Legality Case Study

… Contract-Capacity and Legality

Tommy McCartney, a minor, buys an automobile from a dealership owner for $6,000. Six months later, on realizing that he needs money to pay for his higher education, he returns the car to the dealership owner claiming a full refund. At the time of its return to the dealership owner, the car has already clocked eight thousand miles and in addition to having its tires worn out, it also has a number of dents on its fender (front).

Can Tommy legally escape his obligations in regard to the contract? On what basis might he be able to do so? Further, would it be considered ethical to allow Tommy to escape his obligations in regard to the contract?

Rule

Natural individuals who are…. [read more]


Contract Theories Term Paper

… Contract Theory: Contract Theory: Are Contracts Required for an Efficient Marketplace?

Contract Theory: Are Contracts Required for an Efficient Marketplace?

The primary business document that is used in the United States and most other countries of the world today is the contract. Contract law generally attempts to consider questions such as whether an enforceable contract actually exists, what the true meaning of that document is, whether a contract has been broken, and what compensation is due the injured party. This research paper is about theory of contract and provides a review of contemporary legal contract theories to answer the questions, "Why do we have contract law, anyway?," and, "Is contract law justified because people require a moral framework in which they are bound by what…. [read more]


Contracting Officer Research Paper

… Contracting Officer

Integrity in business negotiations: Government contracting

Because questionable ethics have attracted such attention in the business and mainstream media, it is vital to remain above ethical reproach in one's own transactions. The memory of Enron, WorldCom and other accounting scandals, the lack of transparency that resulted in the recent economic fiscal crisis, and other recent scandals small and large have increased the level of tension and suspicion in every facet of business life. Even the appearance of impropriety must be avoided, as well as technical violations of the law. And in-depth knowledge is essential of government regulations, of in-house ethical guidelines and generally accepted professional ethical ethics within one's field.

In the case of government officials, a betrayal of ethics does not merely…. [read more]


Contract Dispute Resolution Essay

… That is due to several factors, including the backlog in the court system and the cost of hiring lawyers. If one wants to use judicial processes to resolve a contract dispute, one needs to have the ability to get a good lawyer and the time to wait for a court date, proceedings, and the decision of the judge. This kind of dispute resolution is more common with larger companies that have the kind of funds (and the kind of time) required in order to get through the court system. There is also a higher degree of stress that comes along with this type of contract dispute resolution, and that is something for which the parties to the judicial processes need to be prepared (ABA, 2011).…. [read more]


Contract There Are Three Elements Essay

… Contract

There are three elements that are necessary for an effective offer. The first is that there must be a serious intention on the part of the individual making the offer towards purchasing the product or service in case the offer is accepted. There also needs to be an element of objectivity to the offer, something which goes hand in hand with the serious intention element.

The second necessary element is that the terms of the offer need to be reasonably definite, meaning that the terms of the contract, the rights and obligations of each party can be easily identified and recognized by those involved.

Finally, the offer and the main elements of the offer are to be communicated to the recipient, that is, to…. [read more]


Contract Dispute Case Study

… For any period exceeding five (5) consecutive business days in which the Services are not performed by Systems Inc. As a result of a natural disaster or other phenomenon mentioned above."

Therefore, Systems, Inc. is protected from the delay resulting from the ice storm and due to the failure of Big Bank to submit the needed data information thereby causing the delay for completion of the services performed by System Inc.

IV. Defense of Systems Inc.

Big Bank's president cannot rescind the contract alone because rescinding a contract requires the agreement of each side to the contract. Big Bank could sue for breach of contract however, Big Bank would not be successful in this suit because Big Bank breached the contract from the beginning when…. [read more]


Contract Law in Modern Society Term Paper

… This is because these agreements are enforceable for a specific length of time. It is dependent upon both parties fulfilling their obligations. When this happens, it means that they are compelled to meet these conditions. For some people, this is challenging, with their lives are constantly changing. As a result, they need to consider the impact it will have on them and if this is something they are prepared to follow. (Easton, 2007) (Andrews, 2011) (McKendrick, 2012)

Identify ethical issues that exist in your example, if any. If your scenario did not present any ethical issues, provide support to indicate this.

In a life insurance contract there are several ethical issues. For instance, the insured is having their beneficiaries receive a monetary benefit when something…. [read more]


Contract Endzone Inc. Has Sued Maverick Sports Essay

… Contract

EndZone Inc. has sued Maverick Sports Co. For breach of contract. The plaintiff alleges that they had a legal contract with the defendant for the purchase of $400,000 worth of sports equipment over an 18-month period. Over the period in question, Maverick only purchased $1,000 worth of equipment. There are two main issues in this case. The first is the question of whether the oral agreement between the two companies constitutes a valid contract. The second is whether the email confirmation sent by EndZone to Maverick constitutes validation of the agreement in writing.

At its most basic, there is potential for a contract because the contract is of legal nature, and the parties both have the legal capacity to enter into a contract. There…. [read more]


Contracts and Fraud Essay

… Proving duress, much like proving fraud, can be difficult in a court of law and often requires third parties to testify how the duress took place. In a business context, an example of duress might include a seller putting undue pressure upon a buyer, saying "this offer will be withdrawn if you don't sign right now," or pressuring an employee to agree to work extra hours not stipulated in the original employment agreement with the implied threat of the employee losing his or her position (Signing a contract under duress, 2012, Law Guru).

There are two major forms of remedies in contract cases. One is monetary damages (such as a full refund for a purchase). Methods of computing monetary damages include "expectation interest. The goal…. [read more]


Outsourcing: Saving Money Case Study

… -- is one of the few areas of the business left that does not involve the actual content of the magazine. Marketing is also an area where an expert firm can deliver much more effective results, ultimately enhancing revenue and potentially even saving on upfront costs (Monczka et al. 2008; Trent 2007). An expansive and demonstrably effective campaign proposal will be the primary performance target for such a firm.

As with the advertising sales firm, the best contract for the marketing firm would essentially be a unit contract, with the marketing firm paid in concrete and discrete agreed-upon amounts for each unit of marketing materials produced, and with the potential for bonuses in proven results from certain campaigns (such bonuses would almost certainly have to…. [read more]


Procurement and Contracting Process Assessment Case Study

… Hot news may land on the hand of the competitors before reaching the consumers.

Company may not able to develop talent for this function

Business Process #5 Editing

Cost saving. Hire only when the editing service is needed

Get high quality service for this function

Provide fresh perspective on the editing service

Inability to develop skilled employee for this function

From all the business processes of Travel Magazine, there are five business functions the company should outsource. They are Advertising, Distribution, Article, Editing, and Photograph. The company should outsource these functions to lower costs and concentrate on the core functions of the companies. Moreover, the company should outsource these functions to have time to develop the competence of in-house employees. The business processes that the…. [read more]


Contracts the Seattle Man Essay

… This is not the situation that occurred with the Harrier -- the company made an invitation to treat, but at no point did the company accept the offer from the plaintiff. The company rejected his offer and did not even provide him with the points needed to acquire the jet. Without the elements of a valid contract in place, the judge was right to reject the plaintiff's complaint.

Advertisements

Advertisements are not typically considered to be offers. They are considered in contract law to be invitations to treat. The advertisement is nothing more than a means of informing the consumer of a potential deal. A sale contract is formed when the consumer offers to purchase a good or service, and then the company accepts that…. [read more]


Contract Issues in "Proof of Life Essay

… Contract Issues in "Proof of Life"

According to Gilbert's Law Dictionary a contract is "an agreement between two or more parties which creates legally binding obligations. A valid contract must involve competent parties, proper subject matter, consideration and mutuality of agreement and obligation." The consideration in a contract is the thing of value that each party agrees to give up in exchange for what they receive. Without consideration a contract is not binding and enforceable.

Consideration is often treated as an equivalent to a bargain. A bargain is an exchange of promises, acts, or both, in which each party views what they give up as the price of what they are getting in exchange. This bargained for price may include not only promises of acts,…. [read more]


Procurement and Contract Management Term Paper

… Vendor Search:

Once the business and vendor requirements have been established, the selection team should start searching for the probable vendors who will be able to provide the material, product and/or service. In this process, the team should consider having a larger scope of vendors since the larger scope of the vendor selection process; the higher the probability of selecting the most qualified vendor. Actually, the number of vendors is also determined by the scope of the vendor selection process. The need for more vendors originates from the fact that not all vendors will meet the minimum requirements for the project.

The next step involves compiling a list of possible vendors to seek for more information from (Bucki, n.d.). This should be followed by writing…. [read more]


Group Therapy Case Study

… Group Therapy Case Study

John is the group leader during week three of an eight-week psycho-educational group. Until now, the group has been quiet, but John has been setting the scene by providing them with relevant information. John has been told that his role as leader is to inform the group members of strategies and skills that can be used in order to manage their lives. At the beginning of this week's session, there is a palpable sense of unease. The group members seem highly unsettled and eventually, one of them states: "We are not happy being lectured each week." This outburst surprises John, but he continues on with little acknowledgment of the event. Several minutes pass before another group member states: "Well, if you…. [read more]


Information Technology Case Bharti Airtel Term Paper

… 5. What benefits and/or what costs or detriments were experienced as a result of outsourcing?

They hired the leading companies in their areas of expertise and it cost them a little in the beginning but eventually outsourcing paid off as they gained an edge in the market over their competitors and made people loyal to their brand/service. When their market grew and they captured enough customers they started to reap the monetary benefit that is profiting from the operations and became the fifth largest Telecom Company of the world.

6. Pepsico is consumer market giant and is available in almost every country that is presently on the globe. Its most famous product is Pepsi Cola and is very famous for its sweet taste. Pepsi cola's…. [read more]


Business Law Contract Analysis U-Haul: A Subsidiary Term Paper

… Business Law

Contract Analysis

U-haul: A subsidiary of AMERCO Holdings

U-haul is a brand under the parentage of AMERCO Holdings Company. AMERCO has five operating segments including Moving and Storage, Property and Casualty Insurance, Life Insurance and SAC Holdings (AMERCO.com). The U-Haul division consists of several product offerings. They offer self-storage rentals, self-storage related products and moving services. This research will limit itself to Moving and Storage operations. This division comprised 89% of net revenue in fiscal year, 2005 (AMERCO.com).

Every contract must contain certain elements to be considered valid. They are mutual assent, lawful objective, capacity of the parties to perform, consideration and appropriate form. The omission of any of these elements can render the contract invalid. AMERCO engages in numerous types of contracts…. [read more]

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