Rogers S. (2012).Essentials of Business Law[Electronic version]. Retrieved from https://content.ashford.edu/
DeAngelis M. (2012 September 19).Did Jerry Garcia’s drug-induced haze compromise his contractual capacity?(Links to an external site.)Links to an external site.[Blog post]. Retrieved from http://legalstudiesclassroom.blogspot.com/2012/09/did-jerry-garcias-drug-induced-haze.html
Legal Information Institute. (n.d.).Uniform Commercial Code.(Links to an external site.)Links to an external site.Retrieved from http://www.law.cornell.edu/ucc/ucc.table.html
Smith C. A. (2012).Contracts.(Links to an external site.)Links to an external site.Retrieved from http://www.west.net/~smith/contracts.htm
Rogers S. (2012). Essentials of Business Law [Electronic version]. Retrieved from https://content.ashford.edu/
Week Two Lecture
Contracts and the Uniform Commercial Code
A contract is not a thing but a relationship between its parties. This relationship entails mutual rights and duties contained in what is essentially a set of promises that the courts will enforce. Liuzzo (2013) defines a contract as a legally enforceable agreement that is created when two or more competent parties agree to perform or to avoid performing certain acts that they have a legal right to do and that meet certain legal requirements (p.50).
It is important to note that while all contracts are promises not all promises are contracts. Some promises are unenforceable and therefore not contracts. For a promise to be enforced it must include all of the essential requirements of a legal binding contract:
In certain instances a contract must be evidenced by a writing to be enforceable but in most cases an oral contract is binding and enforceable.
As you review each contract element you may find thisContracts(Links to an external site.)Links to an external site.tutorial helpful.
For an interesting discussion of whether emails could be considered enforceable contracts please readAre Your Emails Enforceable Contracts?(Links to an external site.)Links to an external site.
Uniform Commercial Code
The Uniform Commercial Code (UCC) governs many aspects of commerce including the sale and leasing of goods negotiable instruments bank deposits letters of credit investment securities secured transactions and other commercial matters. Every state has adopted at least part of the UCC to govern commercial transactions within that state.
General contract law governs all contracts outside the Code. For example the Code does not apply to insurance contracts employment contracts service contracts contracts involving real property (land and anything attached to it including buildings) and contracts for the sale of intangibles such as patents and copyrights. These transactions continue to be governed by general contract law.In contracts that are for both a service and goods most states use the predominant purpose test. If the primary purpose of a contract is to sell goods the UCC governs the whole transaction; if the primary purpose of the contract is to deliver a service general contract law prevails. Buying parts to repair your own auto is a sale of goods. Taking your car in for repair work that requires new parts is the rendering of a service.Please visit Cornell University Law School’s web page to review theUniform Commercial Code(Links to an external site.)Links to an external site.in its entirety.Forbes School of Business Faculty
Cornell University Law School. (n.d.) Uniform Commercial Code. Retrieved fromhttps://www.law.cornell.edu/ucc
Herzfeld O. (2013 December 9). Are your emails enforceable contracts? Retrieved fromhttps://www.forbes.com/sites/oliverherzfeld/2013/12/09/are-your-emails-enforceable-contracts
Liuzzo A. L. (2013).Essentials of business law(8th ed.). New York NY: McGraw-Hill.
Rogers S. (2012).Essentials of business law. Retrieved from https://content.ashford.edu/
Smith C. A. (2016). Contracts. Retrieved fromhttp://www.west.net/~smith/ktoc.htm
Read theCaseCampbell Soup Co. v. Wentz in the text. Answer the following questions:
Guided Response: Review your peers responses. Respond to at least two of your classmates letting them know if you agree with their analysis. Legal analysis is fact driven. If your analysis of the facts is different from a peers response list the facts that led you to your conclusion. Did your peer give more weight to facts that you found unimportant? Respond to at least two of your classmates posts by Day 7.
Read the Ace Heating and Cooling scenario in your text and answer the following questions:
Guided Response: Respond to at least two of your classmates by Day 7 explaining your position and why you agree or disagree with their comments. Do you think the contracts are fair or unfair considering the parties had a disproportionate ability to bargain? Under UCC Section 2-302 the court has the discretion to find the contract unconscionable. Do you think this is a good approach? What other methods to resolve this issue is appropriate?
Critical Analysis Paper
Describe an example of a contract that you or someone you know entered into (e.g. rental agreement cell phone agreement property purchase or lease [e.g. car home furniture etc.] home or car repair or student loan agreement). In your description be sure to provide specific contractual details including parties and subject matter involved. You must also address the following:
The paper must be three to four pages in length (excluding title and reference pages) and formatted according to APA style as outlined in the Ashford Writing Center. You must use at least two scholarly sources other than the textbook to support your claims. Cite your sources in-text and on the reference page. For information regarding APA samples and tutorials visit theAshford Writing Center(Links to an external site.)Links to an external site..
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