Did Jim and Laura Buy a Car?

Anonymous

Question Description

Jim and Laura Buyer visit the local car dealership because they are interested in buying a new car. The car they currently have is aging and is starting to have mechanical problems. Jim and Laura would share the new car, and use it to go back and forth to work and school. Before going to the dealership, Jim and Laura decide that they can only afford $400.00 a month in car payments.

Once at the car dealership, Jim and Laura meet Stan Salesman. Stan shows them several vehicles and Jim and Laura test-drive several of the cars. Jim and Laura particularly like the blue 4-door sedan. Therefore, they agree to give Stan Salesman a $100.00 deposit to hold the car for a day. Stan Salesman does not give them the receipt but guarantees that the $100.00 is refundable. No documents were signed.

The next day, Stan Salesman calls Jim and Laura to ask them when they would like to take delivery of the car. Jim and Laura, on the way home from the dealership, decided that they were not going to buy the car because they did not want to spend that money each month. Therefore, Jim and Laura tell Stan salesman that they have decided not to buy the car and request their $100.00 deposit back.

Stan insists that the $100.00 was a deposit on the car and was meant to be part of the contract to buy the car. Stan is very persistent and insistent that Jim and Laura have contracted to buy the car; therefore, the $100.00 will be applied to the purchase price of the car. Jim and Laura are shocked and angry as not only do they not want to spend the money, but now feel as though they are being duped by Stan Salesman.

Jim and Laura have an appointment to see a lawyer in a few days, but know you are a student taking a business law class and come to you for advice. They are very frazzled, and understandably upset that they may have just purchased a car. Since you have been taking business law, you have read and understand the elements of a contract and the defenses to a contract. Therefore, although you are not a lawyer, you provide some basic advice from what you’ve learned in your business law class.

In three to five (3-5) pages, advise Jim and Laura based on the above facts as presented, the material provided in the text, and material covered in the lecture. In your paper, be sure to address the following:

  1. Define the elements of a legal contract using examples from the scenario where applicable.
  2. Decide whether or not there was a contract for the purchase of the automobile.
  3. Identify the facts from the scenario which support your decision on whether or not a contract exists for the purchase of the automobile.
  4. Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as quality academic resources.
  5. Format your assignment according to the following formatting requirements:
    • Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
    • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length.
    • Include a reference page. Citations and references must follow APA format. The reference page is not included in the required page length.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.

Tutor Answer

agneta
School: University of Maryland

Attached.

Running head: DID JIM AND LAURA BUY A CAR?

Did Jim and Laura Buy a Car?
Institution Affiliation
Date

DID JIM AND LAURA BUY A CAR?

2
Introduction

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.
i. Offer
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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Review

Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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