Elements of a Contract paper

School: Academy of Radio and Television Broadcasting           Price: $10.00 USD

Document Description

Suppose that the Fabulous Hotel hires you as head chef under a two-year employment contract. After two years, another hotel wants to hire you. However, in the original employment contract you signed with the Fabulous Hotel, the following paragraph appears:

“The below-signed agrees not to work as a chef for another hotel in the same metropolitan area for a period of two years after leaving our employ.”

Describe and analyze the five elements of a contract that must exist for this agreement to be enforceable.
Explain why this contract is governed by common law or the Uniform Commercial Code (UCC).
Examine at least two circumstances in which this non-compete agreement would be unenforceable.

Submit a four- to five-page paper (not including title and reference pages). Your paper must be formatted according to APA style as outlined in the approved APA style guide and must cite three scholarly sources in addition to the textbook.

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Academy of Radio and Television Broadcasting
ContractContract is an agreement voluntarily entered by two or more parties so as to create a legalobligation and bind the persons entering in contract. There are two elements of contract, they areoffer and acceptance. Contract is entered between two or more legal parties who are capable ofentering into contract. Consideration is involved in a contract; no one is ready to do things forothers free of cost. Consideration amount is decided with mutual consent of parties. Contractmay be in writing or it may be oral, it depends on nature of contract and mutual consent ofparties. For contract meeting of minds should be there. A party could resist a claim of breach byproviding that he had not intended to be bound by agreement, only if it appeared subjectivelythat he had so intended.OfferOffer is willingness to contract on certain terms made with the intention that it shallbecome binding as soon as it is accepted by the person to whom it is addressed. The validity ofthe agreement is determined by court.AcceptanceThe essential requirement for acceptance is that the parties have each from a subjectiveperspective engaged in conduct manifesting their assent. Acceptance in simpler language meansgiving assent to the offer. Offer when accepted becomes contract.Essentials of a valid contract1.Proper Offer and Acceptance: For a valid contract there must be twoparties, one making the offer and another accepting it. Offer and acceptance must bevalid. To make an
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