Contracts Discussion Board Forum 2
Marlene C. Johnson
Liberty University
Contracts Discussion Board Forum 2
In this assignment, we will discuss the state of affairs with Don and Dana Willetts. Don Willetts, a non-Christian began visiting my Sunday school class. After getting to know each other, we have come to realize that we both had similar business interests that would benefit each other. As the business relationship progressed, he had my 17 year old sign a “formality” agreement unbeknownst to myself. Don Willetts, had become a great asset to my business by advertising heavily, which brought so much fame to our product which was featured in an article in the New York Times. Even though he wasn’t the greatest at paying invoices on time, …show more content…
Since the beginning of our verbal agreement, we had operated in good faith by delivering everything requested, promptly and at the consistent rates despite the fluctuation of the market. Don did not hold up his end of the bargain because he was often paid his invoices late. I have not penalized him by charging interest or penalties which the invoices clearly states. I would remind him that trying to pursue litigation would hinder this business relationship because he may be ordered to pay the difference. It wouldn’t be a threat, but it would be a bargaining chip to sit down and have mediation to salvage this business …show more content…
He wanted his business to grow and saw the potential that the Scuppernong grapes brought to his business. He may have felt threatened and that brought out the worst in him. As a friend, I wanted to share the business opportunity that was presented to me, that didn’t mean I was going to leave him high and dry. There were other stipulations in the other company’s contract that may hindered my business such as supply and demand. I would revisit the agreement that I have with Don and charge him a reasonable rate according to the market because keeping the product at the current rate might hurt me as
Marlene C. Johnson
Liberty University
Contracts Discussion Board Forum 2
In this assignment, we will discuss the state of affairs with Don and Dana Willetts. Don Willetts, a non-Christian began visiting my Sunday school class. After getting to know each other, we have come to realize that we both had similar business interests that would benefit each other. As the business relationship progressed, he had my 17 year old sign a “formality” agreement unbeknownst to myself. Don Willetts, had become a great asset to my business by advertising heavily, which brought so much fame to our product which was featured in an article in the New York Times. Even though he wasn’t the greatest at paying invoices on time, …show more content…
Since the beginning of our verbal agreement, we had operated in good faith by delivering everything requested, promptly and at the consistent rates despite the fluctuation of the market. Don did not hold up his end of the bargain because he was often paid his invoices late. I have not penalized him by charging interest or penalties which the invoices clearly states. I would remind him that trying to pursue litigation would hinder this business relationship because he may be ordered to pay the difference. It wouldn’t be a threat, but it would be a bargaining chip to sit down and have mediation to salvage this business …show more content…
He wanted his business to grow and saw the potential that the Scuppernong grapes brought to his business. He may have felt threatened and that brought out the worst in him. As a friend, I wanted to share the business opportunity that was presented to me, that didn’t mean I was going to leave him high and dry. There were other stipulations in the other company’s contract that may hindered my business such as supply and demand. I would revisit the agreement that I have with Don and charge him a reasonable rate according to the market because keeping the product at the current rate might hurt me as