The Case Of Tommy Takem Essays

2469 Words Jun 11th, 2016 null Page
The case of Tommy Takem, the owner of Takem’s Appliances & Electronics, LLC against Sally Walker is one of a mistreated sales contract. When Sally Walker purchased the laptop from Takem’s Applicances & Electronics, she entered into a sales contract in which she promised to pay for the laptop. The specific terms of the contract are unknown, as to the price Sally agreed to pay Takem for the laptop, the time period over which the payments would be made, if the contract was written or oral, and so on. It is even unknown whether the contract is even valid at this point. Assuming that at the time Sally purchased the laptop, both she and Takem came to an agreement on all terms, thus entering into a sales contract. The issue is that Sally was unaware of the continuing increase on the markup of the laptop she was sold so she had no idea what the actual price of the laptop should be. It seems that Takem is taking advantage of the people in this rural area being that majority of them are uneducated and unsophisticated, which means they would have no idea what “deals” Takem was giving them. This could be an unethical situation as well. This paper will attempt to dig further into the case of Takem vs. Sally Walker to find out exactly what each of their rights are in the contract and the ethical standards behind it.
Formation of a Contract There are many rules a regulations that make turn a simple agreement into an actual contract. By classic definition, a contract is “a promise or a…

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