bus_415_week_4_learning_team_assigment

Apr 8th, 2015
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Hi there.This document contains A+ work for the course BUS 415.I am sure that this work will not disappoint you.This document will give you the correct answers to the respective questions about the particular course.

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Foodmart, Inc. PaperTeam A:BUS/415Week 4Foodmart, Inc. PaperContracts are present in every aspect of life from housing, to transportation, to food and bills. Cheeseman states that a contract is "a promise or a set of promises for the breach of which the law gives a remedy or the performance of which the law in some way recognizes a duty" (2010, p. 156). Contracts involve at least two parties and can be made traditionally or electronically. Contracts help to establish working relationship guidelines between the involved parties and a basis upon which a suit could be filed if a party is in breach of contract. Scenario OneThis scenario is an example of a unilateral or bilateral contract depending on the specific wording that Foodmart used when drafting the contract. According to Henry Cheeseman (2010, p. 157) a unilateral contract is "a contract in which the offeror's offer can be accepted only by the performance of an act by the offeree; a 'promise for an act.'" If Foodmart contracted with Masterpiece Construction and agreed to pay them for the renovations if they were complete within the six-month time limit the contract is unilateral. Because Masterpiece Construction did not complete the project showing an acceptance of the contract Foodmart cannot sue Masterpiece for not completing the job or subcontracting to another company. A bilateral contract is a contract entered into by way of exchange of promises of the parties; "a promise for a promise" (Cheeseman,

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