Business Law Touchstone 2 - Donnard Christian
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Jan 9, 2024
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Business Law
Touchstone 2: Did Jim and Laura Buy a Car?
Directions:
Follow the directions for each part of the touchstone template. Include your
response and all relevant elements under the Requirement section. Prompts in the Inspiration
section are not required; however, they may help you to fully think through your response.
Remember to review the Touchstone page for response requirements, rubric components, and
grading specifics.
Name: Donnard Christian
Date: 09/26/2023
PART 1: Contract Definition
Task:
Identify the elements that must be present for a legal contract to exist. Define each element using
examples.
Requirements:
●
Identify the elements of a legal contract.
●
Define each element.
●
Provide an example for each element.
●
Include reference citations as appropriate.
Inspiration:
When writing your response, think about the understanding of contract law
●
Have you defined the elements of a legal contract?
●
Have you used examples from the scenario to illustrate these elements?
Identify and define elements of a legal contract below:
Offer
– An offer is when one party requires something from the other in exchange for a “value”.
Acceptance
– Acceptance is when all parties have agreed and signed to the terms of the contract. If
there is a counter-offer, the contract has not been accepted until an agreement is made and signed
for all parties.
Awareness –
All parties come together and acknowledge that the contract exists and agree to the
terms and conditions. If one of the parties signs the contract under duress or can show proof of
fraudulence and/or misinterpretation the contract is not valid.
Consideration
–
The contract states what “value” is being exchanged for the property or service.
(Does not have to be money).
Capacity
–
The contract indicates that all parties understand the contract
terms and consequences
before they sign it. Contracts without capacity include instances where the signing parties are minors,
influenced by drugs or alcohol, or if the contract was signed under threats.
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Legality
-
All contracts are subject to the laws of the jurisdiction where they are signed and must
abide by these to justify
legality
. In instances where the federal and state laws don’t align, in that
circumstance, the US Constitution will take precedence.
PART 2: Case Support
Task:
Determine the facts from the scenario that you will use to support your decision on whether or not
Jim and Laura entered a contract with Stan Salesman for the purchase of the automobile.
Requirements:
●
Identify relevant facts from the scenario.
●
Write a clear explanation of how these facts will support your decision.
●
Include reference citations as appropriate.
Inspiration:
When writing your response, think about how the facts in this case study could support a judgment
made.
●
Have you defined relevant facts from the scenario that would support a case?
●
Have you discussed why these facts from the scenario relate to each element of a contract
from Part 1?
Determine and discuss the facts from the scenario below:
Reviewing the facts of the scenario and knowing the required contract elements, it doesn’t appear
that there was a contract between the car dealer and the potential buyers. To begin with, the buyers
identified a dealer and found one with the car of their choice. Several contract elements were
fulfilled but not all, notably Acceptance and Awareness. In the eyes of the potential buys, the test
drive period gave them the opportunity to place a deposit on the vehicle to allow them time to
come to an agreement (to buy the car or not). Having this option shows that the buyers and sellers
had not finalized or agreed on a deal or terms, which is a must for a valid contract. Additional details
like the full price of the car, the purpose of the deposit, and receipt for the deposit were also
missing.
PART 3: Case Judgment
Task
Based on the facts in Part 2, decide whether or not there was a contract for the purchase of the
automobile.
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Requirements
●
Clearly state your decision on the existence of a contract for purchase of the automobile.
●
Defend your decision with relevant facts from Part 2 about the scenario that support your
choice.
Inspiration:
When writing your response, think about the judgements made on this case study
●
Have you provided a clear judgment on whether Jim and Laura entered a contract to
purchase the automobile with Stan Salesman?
●
Did you use facts from the scenario to support the decision made on whether they entered
into a contract?
Make a judgment on the case and defend your decision below:
It is my conclusion that Jim and his wife did NOT purchase a vehicle. Important key elements were
missing from the transaction which did not create a contract on paper. Since there were no witnesses
to provide validity of the contract, there is no way to prove that the deposit was a binding contract.
Additionally, the dealer did not provide information and facts required to bind the contract.
PART 4: Sources & Conventions
Task
Include two academic references to support your judgment and review your document for standard
English writing conventions.
Requirements
●
Provide two high quality academic references.
●
Explain how each source relates to and supports your judgment on the case.
●
Review the touchstone for proper academic and/or professional writing conventions.
Inspiration:
When writing your response, think about your research surrounding this case study.
●
Have you explained how each source relates and supports your judgment on the case?
●
Have you reviewed your document to ensure that spelling, grammar, punctuation, and
formatting are all appropriate for an academic or professional setting?
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Include your academic sources and discuss how they relate to the case below:
https://courses.lumenlearning.com/suny-monroe-law101/chapter/elements-of-a-contract/
o
The site breaks down the elements of a contract in easy to understand terms
https://www.consumerreports.org/cro/news/2014/04/be-careful-with-that-car-deposit/index.htm
o
This site provideds consumer advice on deposits on cars from dealerships
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