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Summary BUS 206 Project 3 Contract Law.docx BUS 206 BUS 206 Project Three “ Contract Law New Hampshire University There are four elements to a contract: offer, acceptance, consideration, and capacity. The four elements must be present for a valid contract $7.49
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Summary BUS 206 Project 3 Contract Law.docx BUS 206 BUS 206 Project Three “ Contract Law New Hampshire University There are four elements to a contract: offer, acceptance, consideration, and capacity. The four elements must be present for a valid contract
BUS 206 Project 3 Contract L BUS 206 BUS 206 Project Three “ Contract Law New Hampshire University There are four elements to a contract: offer, acceptance, consideration, and capacity. The four elements must be present for a valid contract to exist (Martella, 2013). The first step towar...
bus 206 project 3 contract lawdocx bus 206 bus 206 project three “ contract law new hampshire university there are four elements to a contract offer
and capacity the
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BUS 206
BUS 206 Project Three – Contract Law
New Hampshire University
There are four elements to a contract: offer, acceptance, consideration, and capacity. The four
elements must be present for a valid contract to exist (Martella,
2013).
The first step towards a contract is the offer. Typically, a party offers to perform a service, sell
a product, trade, or conduct other business ventures. An offer is valid when it is severe and not revoked.
We can't be said in jest, or the offeror cannot withdraw the offer. Secondly, we have acceptance when
the proposal is agreed to by the party it was presented to. The next element of a contract is a
consideration. This is when we have an exchange of typically money.
Contractual capacity is the third element, which is the legal ability to enter into the legal biding
agreement. The parties need to understand they are entering into a contract. A final element is a lawful
object identifying if the contract is legally binding. To be legally binding, the contract cannot be illegal or
against public policy. (Ashley, 2017)
As we analyze the summary of this case, we need to look at the potential rights. First, we
have the Friendly Dawg:
The Friendly Dawg has the right to expand the business; this is due to nothing specific in
the lease refraining them from it.
The Friendly Dawg is not late on their rent, and they pay more than
Sunshine Yoga. This entitles the Friendly Dawg to refute any claims.
The Friendly Dawg has the right to renovate unless the lease restricts him from doing so.
The Friendly Dawg has the right to have repairs made by the Landlord per the lease. Lou's
refusal is a violation of the lease.
Next, we look at Landlord Lou:
The Landlord may have Dave about the live animals since Dave's father's lease only
mentions supplies.
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