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Contracts in Sport and Physical Activity Paper

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Running Head: CONTRACTS IN SPORT AND PHYSICAL ACTIVITY 1

Contracts in Sport and Physical Activity

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CONTRACTS IN SPORT AND PHYSICAL ACTIVITY

Introduction

There are various elements that define a valid contract. One, there must be an offer in

which one party promises “to do” or “not to do” something to another party. The action must be

distinguishable. Secondly, there must be acceptance where one party accepts the terms of the

contract. The acceptance must be unequivocal and communicated (McCarnus, 2011). The third

element is ‘consideration’ where there must be a “price” or a “something of value”. The value

may be in currency or non-currency terms. Fourthly, all parties must have legal capacity to enter

into the contract. That is, the parties must be of sound mind, cannot be prisoners or minors or

bankrupt. Mutuality of obligation is another important element in that the parties are bound to

perform their obligation as captured in the contract (McCarnus, 2011). The meeting of minds

dimension holds that both parties must agree on the contents of the contract.

Oral and written contracts are enforceable if they satisfied the above elements. In the

course of an oral contract, any person claiming a contract exists, he or she must proof all

elements listed above are satisfied (Andrews, 2011). An oral contract is only enforceable if a

party can proof the terms and conditions of the contract are binding. A written contract is

enforceable if there is documentary evidence that both parties signed the contract. There are

particular contracts that must be in writing such as the Statute of Frauds. For instance, all

contracts relating to land must be in writing.

On the other hand, a moral modification cannot be enforced if the contract does not

contain an oral modification clause (Andrews, 2011). Illustratively, an oral waiver cannot be

enforced if the contract had no oral modification clause. The parole evidence rule is a

substantive rule that seeks to protect the terms of a written contract. The aim is to ensure that no

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Running Head: CONTRACTS IN SPORT AND PHYSICAL ACTIVITY Contracts in Sport and Physical Activity Name; Instructor; Date; Course; 1 2 CONTRACTS IN SPORT AND PHYSICAL ACTIVITY Introduction There are various elements that define a valid contract. One, there must be an offer in which one party promises “to do” or “not to do” something to another party. The action must be distinguishable. Secondly, there must be acceptance where one party accepts the terms of the contract. The acceptance must be unequivocal and communicated (McCarnus, 2011). The third element is ‘consideration’ where there must be a “price” or a “something of value”. The value may be in currency or non-currency terms. Fourthly, all parties must have legal capacity to enter into the contract. That is, the parties must be of sound mind, cannot be prisoners or minors or bankrupt. Mutuality of obligation is another important element in that the parties are bound to perform their obligation as captured in the contract (McCarnus, 2011). The meeting of minds dimension holds that both parties must agree on the contents of the contract. Oral and written contracts are enforceable if they satisfied the abov ...
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Tags: physical activity Contracts in Sport sports science Social Studies Sport Management