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  • Contracts Vs.: Binding Contract

    Howard is a tough one. First of all, Kathryn’s uncle Howard promised her $10,000 if she graduated from Cowley County Community College with a 3.0 GPA minimum and then backed out and told her he only said it to motivate her to make it through college. Kathryn did graduate from Cowley County Community College and she also managed to graduate with a GPA higher than what he said she needed to have in order to get the $10,000. I believe that in this situation Kathryn’s uncle Howards promise to pay the $10,000 is not a binding contract. According to the Free Advice Legal website, a binding contract has the essential elements of a contract but requires capacity and legal purpose. The essential elements of a contract are mutality of obligation (comprised of…

    Words: 510 - Pages: 3
  • The Six Elements Of A Contract, According To Bilateral Contract

    This contract is a bilateral contract, according to Bilateral Contract (n.d.); “a bilateral contract contains a promise by each party to fulfill certain obligations to complete the deal” (Bilateral Contract, n.d.). This contract will talk about the six elements of contract formation, factors/restrictions of this contract, and the ethical issues of this contract. Six Elements of Contract Formation According to Elements of a Contract (n.d.), there are six elements of contract formation. They are:…

    Words: 756 - Pages: 4
  • Lease Contract

    you find … that there was no oral agreement to reduce a portion of the rent or that the rent is not a valid contract, then you must find that Dr. Kennerly’s rent obligation was not reduced.” D-2. 10. As to the paragraphs of P-11, Kennerly agreed to the interrogatories: As to ¶ 1 Court: … P-11. You all are stipulating that Biloxi HMA and Dr. Kennerly entered into a lease contract for the lease of the medical office building; correct? Mr. Barber: Yes. Court: Yes? So I can just check yes…

    Words: 581 - Pages: 3
  • Offer Contract Law

    different price or terms. You can then decide whether to accept the counteroffer or continue negotiations with another offer. When an offer is made that both parties find satisfactory, the offer will be accepted and you will move forward towards closing. Contracts often become legally binding once an offer is accepted but, real estate contract law does vary somewhat by location so it may be wise to research the basic legalities of this process. The due diligence period may begin once the offer…

    Words: 1193 - Pages: 5
  • Contract Law

    A court will likely find that Rhapsody did not breach a contract. HyunA contacted Rhapsody, the famous American choreographer, by email in an attempt to solicit her services. HyunA specifically asks, “Can I get 5 hours of popping lessons with you for $5000 on Wednesday”? Rhapsody responds to HyunA’s email stating, “I’m busy on Wednesday, but we can do it on Thursday. Deal.” Thursday arrives and HyunA shows up to Rhapsody’s studio, but she is not there. HyunA then contacts Rhapsody questioning…

    Words: 712 - Pages: 3
  • Bilateral Contract Law

    problem question deals with aspects of contract law and more specifically with the creation of contracts ; then the certainty and obligation to create legal obligations and finally with problems in agreement process. In fact, Gordon has to provide major building work in his new commercial premises. Ritebuild Ltd offers to perform contract for a fixed price which was accepted by Gordon the 1st september. But Ritebuild sent an email the same day to change the original price. Gordon didn’t see it.…

    Words: 1043 - Pages: 5
  • Contract Formation Essay

    Student’ Name: Institution Affiliation: Course: Running Head: ELEMENTS OF A CONTRACT Contract Formation According to Beatty (2015) the elements of a legal contract are offer, acceptance and consideration. Additionally parties to a contract must have the intention to create a legally binding agreement, pay a price but is not necessarily money, have the legal capacity to enter an agreement and give consent. Evidence of duress, false representation of undue influence could make…

    Words: 819 - Pages: 4
  • Contract Claim Examples

    According to the Judicial Education Center, what are five defenses to a breach of contract claim? Provide examples of each. The JEC provides both a list and examples of defenses to breach of contract. The most common defense to a breach of contract claims is of the following: • Enforcement of the contract would violate public policy • The contract is illegal • The contract lacks consideration • The contact was obtained by fraud • The contract limits the amount of damages that can be recovered…

    Words: 1246 - Pages: 5
  • Contract Law Case

    Issue: This IRAC is to determine whether a contract exists between Molly, jack, and Levi in relation to the setup and operation of Sutton 's Surf School. In particularly whether or not Molly is entitled to a share of the business profits. The relevant focus of this case is contract law. In order for a contact to exist these three attributes need to be met: Rules: The relevant focus of this case is contract law. In order for a contact to exist these three attributes need to be met: Agreement:…

    Words: 1126 - Pages: 5
  • Minors Signing Contracts

    One can agree that it is legal for 17 year-old teenagers to sign a contract, though it will not be enforceable unless one has parental agreement. The real question becomes how to distinguish one of validity and voidability. In regards to validity, depending on the age of the child, the signed contract can be invalid because of the age and or consent. Nonetheless, the important point in minors signing contracts is the voidability of the instrument. For the minor has the right to enforce a…

    Words: 1017 - Pages: 4
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