Essay on "Law Legal System Contracts"
Essay 3 pages (1016 words) Sources: 2 Style: MLA
[EXCERPT] . . . .
Business Law and Enforcing ContractsGrace v. Wiley
The valid contract for the sale of the stereo system for $6,000 is enforceable depending on circumstances, such as which party is seeking to enforce it, because it falls within the UCC Statute of Frauds (Freidman, 2005). According to Article II of the UCC, contracts for sale of goods for $5,000 or more are not enforceable without some record (or admission) of the existence of a valid contract (Freidman, 2005).
More specifically, the party wishing to enforce the contract must be able to prove the existence of a written contract signed by the party against whom enforcement is sought (Halbert & Ingulli, 2008). In this particular case, the valid contract was signed by Grace but not by Wiley. Therefore, while the contract is otherwise valid, Grace would not be able to enforce it against Wiley or to prevail in an action for any loss of the benefit of the bargain pursuant to a breach or anticipatory breach by Wiley, simply because Wiley accepted the offer verbally instead of in writing. Wiley, on the other hand, could prevail in enforcing the same contract against Grace because her agreement to the contractual terms was memorialized in a writing.
Grace v. Eddie
The contract between Grace and Eddie is for professional services rather than for the sale of goods; therefore, it does not fall under the UCC and it is not one of the other types of contractual agreements that fall within the Statue of Frauds (Freidman, 2005). In principle, the contract is enforceable by each party against the other but subject to the ability of the party filing the claim to prove the
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Breach of Contract Issues
In the first case between Grace and Wiley, a breach of contract by Grace is more enforceable from a practical perspective by Wiley than the reverse situation. If the underlying agreement supports a bilateral contractual obligation, Wiley need only produce the signed document evidencing Grace's acceptance of the terms. However, because Wiley never furnished a signed writing, his breach is more difficult for Grace to enforce. Provided the underlying terms are sufficient to create a valid contract but for the Statute of Frauds issue, Grace can still recover against Wiley if Wiley happens to admit to the existence of a contractual agreement in his pleadings or statements under oath (Freidman, 2005). If Wiley breaches, Grace would be seeking the remedy of the compensation for any benefit of the bargain lost, such as where she subsequently ends up paying more for the same product. If Grace breaches, Wiley would be seeking his lost profit from the sale.
In the second case between Grace and Eddie, the contract is equally enforceable by either party subject only… READ MORE
Quoted Instructions for "Law Legal System Contracts" Assignment:
“I need the following three questions to be answered precise and to the point. I don't want quotes that are longer than a line if taken from anywhere. Please dedicate about a page to each of 3 questions or as seen fit. The most important this is that the questions need to be fully answered with no puffing
1. A. Grace, a non merchant, discovered that she could easily buy the $15,000.00 state of the art stereo system she had always wanted as an unassembled *****kit***** directly from the manufacturer, Wiley Wires, Inc., for $6000.00. She sent Wiley a signed order form which contained all the elements of a valid offer. Wiley called Grace on the telephone and accepted her offer after receiving it. After Wiley*****s acceptance, is there a contract enforceable by either party?
B. When Grace (#a. above) received the stereo kit and read the instructions, she decided that she did not want to assemble the stereo herself, so she called Easy Eddie, a TV-radio technician, on the telephone and asked him what he would charge for the job. Eddie made a valid, oral offer to do the job for $5500.00, and Grace accepted his offer. After Grace*****s acceptance, is there a contract enforceable by either party? Explain."
Element of an enforceable contract are: Agreement, consideration, competent parties, and valid purpose. Not enforceable means there is a remedy. Not enforceable unless there is a written memorandum signed by the party to be charged.
UCC (uniform Commercial code)-Art II Contracts for sale of good greater than $5000
- Exceptions
o Part performance-to extent performed
o Specifically manufactured good
o Confirms memo between merchants
Parol Evidence Rule: Evidence of oral prior or contemporaneous oral agreement which alters/contracts a written agreement is not admissible. After written oral admissible*****¦before written oral is not admissible.
2. "Fully explain the remedies which may be available to the Plaintiff for breach of contract? " Steps that need to be taken and options ect...
3. "One day when you were late for class, you disregarded the clearly marked crosswalk at the corner and darted into the street from between two parked cars. You were stuck and injured by a car driven by Leroy in a negligent manner. When you sue Leroy, what defenses are you likely to encounter? "
-Explain negligence and the ways to use it and defend against it.
-Discuss contributory and comparative neglegience and assumption of the risk
How to Reference "Law Legal System Contracts" Essay in a Bibliography
“Law Legal System Contracts.” A1-TermPaper.com, 2009, https://www.a1-termpaper.com/topics/essay/business-law-enforcing-contracts/941247. Accessed 1 Jul 2024.
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