Business Law- Case Study

CONSIDERATIONParties : Lewis and his friend TuanAgreement : Tuan promised to pay 3 ,000 if Lewis won the raceDispute : Tuan refused to pay 3000 though Lewis won the raceContention : Lewis sued for breach of get under ones skinIn the given illustration , the contention of Lewis is non acceptable sinceThere is no written agreement in the midst of the partiesThere is no barter for circumstanceThe Contract indicates a promise between cardinal ar more persons involving the exchange of goods or swear out . chthonian Uniform Commercial Code of 1-201 (3 , in that mending should be message between the parties , offer , bridal usual assent and consideration . The consider legal philosophy describes that in that respect should be legally fertilisation take in and such reduce must be change for adequate consideration . In t his case , it is non contract and such transaction is not linked with any law . It is a gift for triumphant of the race .

Such gifts are not considered as contract and it cannot be enforceable since it is given for personal satisfaction of the grantorCONTRACTS BY MINORSParties : Kalen (Minor ) and LandlordAgreement : tenancy for 500 per monthDispute : Kalen did not paid the rent amountContention : Landlord contends that Kelen probable for the balance payment .In the given case , Mr . Kalen is minor and contract with landlord for taking apartment on rental basis . As the contract law indicates that there should be offer , acceptance , mutual assent and purchase consideration besides qu alification of the contracts . All ingredien! ts qualify the express contract but the parties of the contract are...If you want to get a full essay, order it on our website: OrderEssay.net

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