Module 1 Case Assignment
Contracts have existed for hundreds of years; in a sense our countries very own Declaration of Independence is a contract, as it was drawn up by several lawyers. It’s our countries promise to the American people, and its expectations for those who abide by it and for those who don’t(unknown, n.d. ret. October 13, 2011). Our country was formed by contracts, with the royalty contracting people to explore the “new world” and compensating them according to contractual obligations("Christopher Columbus," n.d).
Elements of a contract clearly states the parties in which the contract pertains to, along with terms and conditions. Contracts allow both parties “protection” by explaining and clarifying requirements and expectations from all parties involved in the contract.("Lectric Law Library’s Lexicon," n.d.) There are a few different forms of contracts; contracts can be expressed orally or in writing. An implied contract is one in which some of the terms are not expressed in words. A contract which is implied in fact is one in which the circumstances imply that parties have reached an agreement even though they have not done so expressly. For example, an unspoken or implied contract, also known as a quasi – contract; By going to a doctor for a checkup, the client agrees that he or she will pay a fair price for the services rendered. If one refuses to pay after services rendered, the client has breached a implied contract and the doctor has right to sue for damages. ("Contract," n.d)
While I personally believe verbal contracts also known as parol contracts is a very much a no – no, as they aren’t easily upheld or proved . The required... [continues]
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