Essay on Acme Fireworks

2306 Words Apr 16th, 2016 10 Pages
Acme Fireworks

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Acme Fireworks
Business Contracts The business contract is considered as the common legal transactions most business people get involved to ensure the activities run smoothly. When a person understands the contract law, he/she is good to create a sound business agreement. However, the agreement would be legally enforceable in case something bad happens. As the manager of Acme Fireworks, I was requested by the owner to determine which law between common law and the Uniform Commercial Code (UCC) will govern the business. According to Sheleff, (2013), the common law controls the majority of
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Rogers (2012) state that, “To have a valid contract, both parties, at the time of the contract is made, must have sufficient mental competence to understand the nature and circumstances of the transaction. It does not necessarily mean they would understand every clause of legalese in a long, complicated written contract, but does not require that they know basically what they are doing.” Lastly, legality describes if the contract provided to the parties is valid and unenforceable. Taking each of the Acme Fireworks contracts and apply the five essential elements, we can determine if the contract is legal. Considering the future contracts that Acme Fireworks may enter with the large retailers, it is vivid that the business (Acme Fireworks) may sign the contract in its own name. Personal Liability The company needs to ensure that its customers are aware of the following two critical things. They include warnings and their personal liability. The customers should vividly aware that when they consume the products of Acme Fireworks they are liable for any damage accrued by the firing of the fireworks. Therefore, it is not the responsibility of the company to take care of such damage. It is hard for a company to control the people who watch its fireworks display. Similarly, it 's hard to determine the individuals who might file a case against the company if the

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