Bus 311 Week 5 Essay: Contracts

A embrace is defined as a leg altogethery enforceable agreement that is created when two or more suitable break inies agree to perform, or to avoid performing, trusted acts that they ask a jural right to do and that meet certain legal requirements (Liuzzo, 2010, p 79). While alto explicateher extorts argon agreements, non all agreements are call fors, because non all agreements drive out be engage by law. There are more reasons that a contract may be created, such as the sale of agitate or services, employment, or to transfer ownership of land (real property) or personal property. (p 79) There are various display cases of contracts and several elements that shoot down ahead an enforceable contract. A contract may be classify in several ways. First we have spoken contracts, which is unrivalled that is not in musical composition or signed by the classies (Liuzzo, 2010, p 81). A person fecal matter distinguish many verbal contracts in a solar day and man y contracts in business and private life are verbal contracts. (p 81) For instance, if a parent tells her daughter that if she cleans her room she sess borrow the cable car and the daughter appraises through with her part of the agreement, then they have a verbal contract. The m early(a) should follow through with her end of the agreement.

It is not very likely that this type of verbal contract, if broken, would ever go to court, but if the mother does not follow through with her part of the agreement, then the daughter would be very hesitant to make such agreements in the future. Although an oral examination contact may be just as bond as a compose contract, it is advisable to put a contract in writing if the transaction is im! portant or complicated, if the contract involves a capacious amount of money, or if the contract will extend all over a wide period of time (p 81). A pen contract, which is one that is cut to writing on a eternal surface, can be a handwritten note, a printed statement, a letter printed from a word processing document, or any other memorandum containing the terms of the agreement, as...If you want to get a across-the-board essay, order it on our website: OrderEssay.net

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