Recognize particular legal issues inhering to a given case scenario and determine which laws come to bear on the issues towards arriving at a resolution of those issues.
ASSIGNMENT
This week we are discussing contracts: Consideration, Capacity and Legality. Our scenario is as follows:
Anita agrees to sell, and Bob agrees to purchase her home on Elm Street, for $100,000. The contract is in writing and contains detailed provisions for payment, risk of loss until delivery, restrictions on permissible us of the property. Prior to signing the contract, Anita, in order to induce Bob’s agreement, orally promises him, in the presence of witnesses, that if Bob will sign, Anita will remove an unsightly shack on Anita’s property around the corner from Elm Street. Bob signs the contract. Is the oral and written contract valid and enforceable in court? Remember, that oral and written contracts have the same requirements for validity. There is no difference in the formation. One is oral and one is written. Since you are doing double analysis this week, you can receive an extra 10 points on this assignment.Take advantage of the additional points.
FRAMEWORK FOR ANSWERING CONTRACTS QUESTIONS
What are the elements (law) of a valid contract. Define each element.
1. Element 1: Valid Agreement. A valid agreement must have a valid offer and a valid acceptance. How do we go about proving that there is an agreement. What is an agreement?
An agreement is a valid offer and a valid acceptance, and so, under agreement. You want to put a letter a valid offer, then be valid acceptance. So whenever you discuss agreement, you must discuss if there is a valid offer, and if there is a valid acceptance you have both of those. Then you have a valid agreement. That is your discussion, Don’t. Just tell me there is an agreement that doesn’t mean anything. You’ve got to really break it down and show me the elements we call these elements are things you have to prove to win your case.
So we have to prove an agreement, and we have to prove that there is a valid offer. Number one, that there is a valid acceptance. Now let’s back up. How do we go about determining. If there is a valid offer, well, first of all, the offer must be definite, certain it must have definite and certain terms.
How do we know that there are definite and certain terms.
a. Valid Offer – Insert the definition from the lecture.We use an acronym that says Q-tips and if the offer has the quantity the time for performance, the parties, the identity of the subject matter, the price, the vin number, the serial number. Then at that point, we can say that the terms are definite and certain because we have these q-tips here. An agreement is a valid offer and a valid acceptance,
b. Valid acceptance – Insert the definition from the lecture
.Well, we want to make sure that it’s voluntary. That’s one thing, and the person intended to be bound. The same thing that they offer the person remembers the objective of contracts. If there are no facts, Okay, they intended to be found. But when we’re looking at acceptance, and we
want to determine if the acceptance is valid. What we have to look at is, what kind of contract is being created.
Is it a bilateral contract,
or is it a unilateral contract?
If it is a bilateral contract by means two lateral is side by side. It means that
there is a promise in exchange for a promise.
So if it is a bilateral contract, a valid acceptance would be a promise in
exchange for a promise.
If it is a unilateral contract. Beauty means one lateral side by side.
This would mean that there is one promise on one side with conduct on the
other side, the conduct becomes the acceptance.
2. Element 2: Consideration. Insert the definition from the lecture. is the thing of value
● you give in exchange for the promise
● or the item.
● It is the thing of value that’s being exchanged
3. Element 3: Capacity. Insert the definition from the lecture person must be eighteen years plus, and not all. But and they must be able to appreciate the consequences of their actions.
If you find both of those, then we will say that that person has capacity to enter into a contract,
4. Element 4: Legality. Insert the definition from the lecture . The subject matter of this contract cannot be for illegal purposes. Apply the facts for the written contract to your definitions. Are all of the elements, for the written contract present in the scenario provided?
5. Element 1: Valid Agreement. A valid agreement must have a valid offer and a valid acceptance.
a. Valid Offer – Insert the definition from the lecture. We use an acronym that says Q-tips and if the offer has the quantity, time for performance, parties, identity of the subject matter, price, VIN number, and serial number. Then at that point, we can say that the terms are definite and certain because we have these q-tips here. An agreement is a valid offer and a valid acceptance,
FACTS: Discuss all of the facts that show you have a valid offer. Show how these facts prove there was a valid offer. This is usually about 5 sentences.
b. Valid acceptance – Insert the definition from the lecture. Well, we want to make sure that it’s voluntary. That’s one thing, and the person intended to be bound. The same thing that they offer the person is the objective of contracts. If there are no facts, okay, they were intended to be found. But when we’re looking at acceptance, we want to determine if the acceptance is valid. What we have to look at is, what kind of contract is being created
Is it a bilateral contract,
or is it a unilateral contract?
If it is a bilateral contract, that means two laterals are side by side. It means that there is a promise in exchange for a promise. So if it is a bilateral contract, a valid acceptance would be a promise in exchange for a promise. If it is a unilateral contract. Beauty means one lateral side by side. This would mean that there is one promise on one side with conduct on the other side, the conduct becomes the acceptance. Your answer will depend upon the type of contract being created. If the contract is a unilateral contract then the acceptance must be in the form of conduct. If the contract is a bilateral contract, then the acceptance must be in the form of a promise.
FACTS: Discuss all the facts that show you have a valid acceptance. Show how these facts prove there is a valid acceptance. You will first need to establish what kind of contract is in the scenario. Then decide upon the appropriate acceptance and whether the facts show the acceptance is appropriate for the type of contract. This is usually about 5 sentences.
6. Element 2: Consideration. Insert the definition from the lecture. is the thing of value
you give in exchange for the promise or the item. It is the thing of value that’s being exchanged
FACTS: Discuss the facts that prove there is a consideration. You will tie the facts to the definition. This is usually 4-5 sentences.
7. Element 3: Capacity. Insert the definition from the lecture. person must be eighteen years plus,
● and not all. But
● and they must be able to appreciate the consequences of their actions.
FACTS: Discuss the facts that prove there is capacity. It is important that you have the definition from the lecture. Show how the facts apply to the definition. This is usually 4-5 sentences.
8. Element 4: Legality. Insert the definition from the lecture. subject matter of this contract cannot be for illegal purposes
FACTS: Discuss the facts that prove the contract is legal. Tie the facts to the definition and show how the facts prove the legality. This is usually 2-3 sentences.
Apply the facts for the oral contract to your definitions. Are all of the elements, for the oral contract present in the scenario provided?
9. Element 1: Valid Agreement. A valid agreement must have a valid offer and a valid acceptance.
a. Valid Offer – Insert the definition from the lecture.
.We use an acronym that says Q-tips and if the offer has the quantity the time for performance, the parties, the identity of the subject matter, the price, the vin number, the serial number.
Then at that point, we can say that the terms are definite and certain because we have these q-tips here. An agreement is a valid offer and a valid acceptance,
FACTS: Discuss all of the facts that show you have a valid offer. Show how these facts prove there was a valid offer. This is usually about 5 sentences.
b. Valid acceptance – Insert the definition from the lecture.
Well, we want to make sure that it’s voluntary. That’s one thing, and the person intended to be bound. The same thing that they offer the person remembers the objective of contracts. If there are no facts, Okay, they intended to be found. But when we’re looking at acceptance, and we want to determine if the acceptance is valid. What we have to look at is, what kind of contract is being created.
Is it a bilateral contract,
or is it a unilateral contract?
If it is a bilateral contract by means two lateral is side by side. It means that there is a promise in exchange for a promise.
So if it is a bilateral contract, a valid acceptance would be a promise in exchange for a promise.
If it is a unilateral contract. Beauty means one lateral side by side.
This would mean that there is one promise on one side with conduct on the other side, the conduct becomes the acceptance.
Your answer will depend upon the type of contract being created. If the contract is a unilateral contract then the acceptance must be in the form of conduct. If the contract is a bilateral contract, then the acceptance must be in the form of a promise.
FACTS: Discuss all the facts that show you have a valid acceptance. Show how these facts prove there is a valid acceptance. You will first need to establish what kind of contract is in the scenario. Then decide upon the appropriate acceptance and whether the facts show the acceptance is appropriate for the type of contract. This is usually about 5 sentences.
10. Element 2: Consideration. Insert the definition from the lecture.
II. is the thing of value
III. you give in exchange for the promise
IV. or the item.
V. It is the thing of value that’s being exchanged
FACTS: Discuss the facts that prove there is consideration. You will tie the facts to the definition. This is usually 4-5 sentences.
1. Element 3: Capacity. Insert the definition from the lecture.
VI. person must be eighteen years plus,
VII. and not all. But
VIII. and they must be able to appreciate the consequences of their actions.
IX. If you find both of those, then we will say that that person has capacity to enter into a contract,
FACTS: Discuss the facts that prove there is capacity. It is important that you have the definition from the lecture. Show how the facts apply to the definition. This is usually 4-5 sentences.
1. Element 4: Legality. Insert the definition from the lecture. The subject matter of this contract cannot be for illegal purposes.
FACTS: Discuss the facts that prove the contract is legal. Tie the facts to the definition and show how the facts prove the legality. This is usually 2-3 sentences.
What is your conclusion? Is there a valid contract that is enforceable in a court of law? This is a very short section, only a few sentences.
Written Contract: Is there a valid written contract? If not, please list the elements are missing.
Oral Contract: Is there a valid oral contract? If not, please list the elements that are missing.
