Unit 5 Questions

Business Law
Unit 5

  1. Legally enforceable

  a. “…when a set of promises has the status of a contract, a person injured by a breach of that contract is entitled to call on the government (courts) to force the breaching party to honor the contract.” (Mallor, Barnes, Business Law, The Ethical, Global, and E-Commerce Environment, 14th edition (2009) Page 290)
  b. When people enter into a contract with one another if one party fails to uphold their part of the contract the other person has the right to take that person to court and sue to for damages.
  c. “Developer promised to pay Graphic Designer $5000 for creating certain promotional materials for Developer's multimedia work. Graphic Designer created the materials and delivered them to Developer, as required in the contract. Developer admits that the materials meet the contract specifications. If Developer does not pay Graphic Designer, Graphic Designer can go to court and get a judgment against Developer for breach of contract.” (http://library.findlaw.com/1999/Jan/1/241463.html)
  d. http://definitions.uslegal.com/c/contract-law/ - This web site helps because it defines what a contract and breach of contract is. By fully understanding those two terns it is easier to explain that a contract is legally enforceable when there is a breach of contract.

  2. Bilateral Contract

  a. “A contract in which the promise of one of the parties forms the consideration for the
promise of another.” (Mallor, Barnes, Business Law, The Ethical, Global, and E-Commerce Environment, 14th edition (2009) Page G-3)
  b. A contract where both parties promise something to one another.
  c. An example from the text is as follows, “…Perks Café promises to pay Willowtown Mall will promise to lease a kiosk in the mall to Perks for the holiday season…” (Mallor, Barnes, Business Law, The Ethical, Global, and E-Commerce Environment, 14th edition (2009) Page 295)
  d.... [continues]

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