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Elements of a Legal Contract
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Addison Clark
BUS3021: Business Law
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Capella University
v i y re
September 30, 2020
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This study source was downloaded by 100000827039679 from CourseHero.com on 08-15-2021 11:30:08 GMT -05:00
https://www.coursehero.com/file/70357380/Sophia-Business-Law-Touchstone-AC-Updateddocx/
, 2
Elements of a Legal Contract
Question 1
A contract in legal term is an agreement between two or more parties that can be
enforced by law. The script shows a discussion between Laura, Jim and Stan. Following are
elements of a contract.
Elements of a Contract
1. Offer
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An offer is an ability and desire to enter into a contract displayed by all or
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more parties. An offer is supported by negotiating between those who want to
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agreement, in most cases (Altschuler, Sgroi, & Ryniker, 2016). In this case, the
bargain is made to persuade one another and draw a conclusion. For the above
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example, when they approve the sales terms of the salesman, an offer is defined.
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2. Acceptance
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As soon as the purchaser agrees to the terms of the contract, no modification
to any portion of the contract is necessary as such an effort becomes an infringement;
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thus, any modification would become irrelevant. In this scenario, Stan confirms that if
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a hundred dollars is given to him as a deposit for the vehicle, it will be refunded in the
event that Jim and Laura are no longer interested in purchasing the vehicle. They all
accept the offer, and the cash is deposited by Jim and Laura. Stan fails to honour the
verbal arrangement upon returning the next day; thus, granting the two to file a
lawsuit against him for breaching the contract (Nysten et al., 2010, p.465). In
addition, since the two changed their minds to buy the car, it can be said that there
This study source was downloaded by 100000827039679 from CourseHero.com on 08-15-2021 11:30:08 GMT -05:00
https://www.coursehero.com/file/70357380/Sophia-Business-Law-Touchstone-AC-Updateddocx/
m
er as
co
eH w
Elements of a Legal Contract
o.
rs e
ou urc
Addison Clark
BUS3021: Business Law
o
aC s
Capella University
v i y re
September 30, 2020
ed d
ar stu
sh is
Th
This study source was downloaded by 100000827039679 from CourseHero.com on 08-15-2021 11:30:08 GMT -05:00
https://www.coursehero.com/file/70357380/Sophia-Business-Law-Touchstone-AC-Updateddocx/
, 2
Elements of a Legal Contract
Question 1
A contract in legal term is an agreement between two or more parties that can be
enforced by law. The script shows a discussion between Laura, Jim and Stan. Following are
elements of a contract.
Elements of a Contract
1. Offer
m
er as
co
eH w
An offer is an ability and desire to enter into a contract displayed by all or
o.
more parties. An offer is supported by negotiating between those who want to
rs e
ou urc
agreement, in most cases (Altschuler, Sgroi, & Ryniker, 2016). In this case, the
bargain is made to persuade one another and draw a conclusion. For the above
o
aC s
example, when they approve the sales terms of the salesman, an offer is defined.
v i y re
2. Acceptance
ed d
ar stu
As soon as the purchaser agrees to the terms of the contract, no modification
to any portion of the contract is necessary as such an effort becomes an infringement;
sh is
thus, any modification would become irrelevant. In this scenario, Stan confirms that if
Th
a hundred dollars is given to him as a deposit for the vehicle, it will be refunded in the
event that Jim and Laura are no longer interested in purchasing the vehicle. They all
accept the offer, and the cash is deposited by Jim and Laura. Stan fails to honour the
verbal arrangement upon returning the next day; thus, granting the two to file a
lawsuit against him for breaching the contract (Nysten et al., 2010, p.465). In
addition, since the two changed their minds to buy the car, it can be said that there
This study source was downloaded by 100000827039679 from CourseHero.com on 08-15-2021 11:30:08 GMT -05:00
https://www.coursehero.com/file/70357380/Sophia-Business-Law-Touchstone-AC-Updateddocx/
