A few paragraphs is needed. NO title page is needed.
Binding Contract
In this assignment, you will research and study the elements in a binding contract.
The assignment consists of two parts:
- Part I deals with a contract that you have entered into.
- Part II deals with interpreting contracts in different scenarios.
Part I
Locate a contract you have signed. The contract might be for a cell phone, credit card, apartment or house rental, purchase of a home or car, student loan, contract for services or something similar. These agreements all represent contracts.
Provide the following information about the contract. You may make up dollar amounts to maintain privacy. ( Short info here – 1 to 3 sentences for each)
- Describe the subject matter of the contract.
- Provide the names of the parties to the contract.
- Provide a brief explanation of how the offer was made.
- Describe the terms of the offer.
- Explain how acceptance was provided and what the consideration was.
- Explain if any part of the process included e-mail, fax, or the Internet.
Part II
Providing relevant laws and cases to support your post, select two of the scenariosbelow and discuss the status of the contract:
- Brian offers to sell his condominium on the beach in Florida to Jack Donald for $750,000. Donald states that the price is too high and offers to purchase the condominium for $500,000.
- Adrienne offers to sell her Yorkshire Terrier to Louis Benji for $600. Before Benji can pick up the dog, it dies.
- Candy agrees to purchase 5000 Oxycontin pills from Nick Damon. Candy gives Damon $500 as a down payment. When Damon arrives with the pills, Candy changes her mind.
- Brandon, a 75-year-old with Alzheimer’s signed a contract to transfer his house to Carla, an attractive 40-year-old woman in exchange for care for the rest of his life. Brandon’s children seek to have the contract nullified.
- Cary, a 16-year-old who looks like he is 20, enters into a two-year contract for a new iPhone. Three months later, Cary cannot afford the monthly bills and seeks to rescind the contract.
- Austin promised his daughter, Crystal, a car when she passed the Certified Public Accountant (CPA) exam. Crystal did not promise anything in return. When Crystal passed the CPA exam two years later, she demanded that her father buy her the car as promised.
- Cynthia places an advertisement on CraigsList to sell her treadmill for $75. Alissa, Bernie, and Dan e-mailed and accepted Cynthia’s offer.
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A few paragraphs is needed. NO title page is needed.
Breach of Contract
There are two parts to this assignment:
- Part I deals with possible remedies for a contract that is breached.
- Part II deals with different contractual situations.
Part I
Select two of the scenariosbelow and explain the contractual issues and possible outcomes.
- Chris loaned money to his girlfriend Louis Cassie to buy a car, but she died in a car accident before she paid back the loan. Chris claims he spoke to Cassie’s father and he agreed to pay the debt. However, Cassie’s father did not pay the debt. Can Chris recover the money? Why or why not?
- Ashlee contracts with the city of Boston to provide training and employment for disabled unemployed veterans living in Boston. Ashlee breached the contract with Boston, and Chad, a resident of Boston who is a disabled unemployed veteran, sued Ashlee for damages.
- The Singing Slinkys were a successful singing group who contracted to perform at a rock concert. The Slinkys were aware that the organizers would sustain a substantial loss if they failed to perform. Several members of the group came down with a virus that affected their ability to sing. The concert organizer sued for breach of contract.
- Carla contracts to sell her home to Becky for $185,000. Before the deal closes, Cedric offers to purchase the house for $200,000. Carla refuses to sell the property to Becky.
- Freddie contracts to perform his comedy act at a night club in New York for one month, beginning on September 1st. Freddie gets a better offer to host Sunday Night Live and refuses to perform.
Part II
Select two of the following topics and provide a relevant example that does not appear in the textbook:
- Parol evidence rule
- Assignment of contract
- Non assignable contracts
- Condition precedent
- Condition subsequent
- Accord and satisfaction
- Force majeure
- Anticipatory breach
- Commercial impracticability
- Compensatory damages
- Consequential damages
- Nominal damages
