Consider the elements that were necessary to form the contract, law assignment help

Anonymous
timer Asked: Sep 9th, 2016
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Question description

Select a contract that you are currently engaged in (University of Phoenix, Cell Phone, Electrical, Power, Car, Insurance, etc.).

Write a review of the contract in a minimum of 1,050 words in which you include the following: NOT PLAGARIZED

  • Consider the elements that were necessary to form the contract.
  • Explain how your selected contract (or selected portions within the contract) can be applied within a business managerial setting.
  • Summarize the potential legal defenses available to contract formation.
  • Evaluate the potential remedies for breach of contract that might be available to someone who breached the contract you have selected.
  • Examine how the contract deals with intellectual property issues.

Cite a minimum of 3 scholarly references.

Format your paper consistent with APA guidelines.


Tutor Answer

peachblack
School: University of Virginia

Thank you once again. It is always a pleasure to work with you. I will give a timely response
Attached.

Running Head: REVIEWING A CONTRACT

Reviewing a Contract
Name:
Institution Affiliation:
Course:
Date:

1

REVIEWING A CONTRACT

2
Reviewing a Contract

A contract of insurance can be said to be a form of contract which the insurer agrees in
the consideration of payment of premium to make good the loss suffered by the insured against a
particular risk such as fire as well as other contingencies or even an events such as death and
accidents. Notably, insurance contracts other than death are all contracts of indemnity. Moreover,
the contract of insurance must fulfill the basics of a valid agreement. Therefore, there should
always exist a valid offer as well as acceptance and free consent. Both parties that are entering
into the contract must be competent, and their purpose must be legal thus a lawful consideration.
There are various features of an insurance contract; firstly, every contract of insurance
ought to fulfill all the requirements of a valid contract as laid down in the contract act.
Additionally, there can be no legitimacy of a contract if there is no consideration (Sethi &
Bhatia, 2012). Therefore the premium payment should act as the consideration for the insured
party while the promise to indemnify represents the consideration on the part of the insurer.
Moreover, for any contract to be binding on the involved parties, both of them should have the
legal capacity to enter into the contract. In pa...

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Review

Anonymous
Thanks, good work

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