Running head: DID JIM AND LAURA BUY A CAR?
Did Jim and Laura Buy a Car?
DID JIM AND LAURA BUY A CAR?
A contract is a document that is legally binding, it can be either written or spoken and has
the goal of been enforceable by law. Most contracts have to do with a sale, lease, employment or
even tenancy. There are main elements that go into making a contract, these are, offer,
acceptance and intention without these elements the contract is voidable.
Elements of a Contract
Validity of a contract is determined by several elements that have to be present and
without one of them the contract is null. These elements include; an offer, presented by one of
the party or both, an acceptance, either from one of the parties of both, consideration, the parties
involved have to be of the legal capacity and there must also be a mutual obligation. In this
scenario, Stan will try to show that there was a contract while Jim and Laura will have the
burden of proving that the contract never existed at all.
Offer is the initial requirement of a contract. An offer can be defined as the promise to do
something or act in a certain way it is always made as give-and-take for a return promise. One of
the parties has to make an offer to the party, an offer does not have to be made to a specific
person, and it can be to several people or even the whole world. The offer has to be accepted
which will make it an explicit pledge to be bound (Viscasillas, 2001).In this case, Stan the
salesperson made an offer to both Jim and Laura when he showed them several cars while letting
them to test driv...
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