Contract Analysis
Introduction Marshall and his wife have been introduced into a Sunday school class I am teaching. He is discovering his faith in Christ and has shared in conversation that he owns a small business that could benefit from one of my products. After striking an implied business deal with Marshall, our companies begin to flourish with the recent interest in the benefits of Muscadines. As business continues to flourish, Marshall takes it upon himself to secretly coerce my 17-year-old son into signing a contract unbeknownst to me. Now that a better business opportunity has presented itself to my company, Marshall is using this contact to hinder me from expansion.
Implied Contracts Upon discovery and examination of this contract, it is apparent all business with Marshall would need to be terminated. This dissolution would cause significant strife between Marshall and I, but with just reason. Marshall had an implied contract with my company stating he would heavily invest in my company’s Muscadine products, and these products would be supplied each month for a consistent predetermined price. An implied contract must consist of mutuality of intent to contract, consideration, an unambiguous offer and acceptance, and actual authority of the government’s representative to bind the government (White, 2008). An implied contract is also said to exist by the acts and conducts of both parties (Cornell, 2012). Considering Marshall has maintained an investment in my company’s Muscadine merchandise, one can conclude an implied contract exists. Marshall, seeing the potential profits to be gained by this new product, wanted to ensure a more positive control of his investment by creating a written contract. He made a huge error in judgment when he opted to have my son, a 17-year-old part-time delivery boy, secretly sign this written contract essentially detailing the already established implied contract.
Good Faith and Fair Dealing A new, promising business opportunity
Implied Contracts Upon discovery and examination of this contract, it is apparent all business with Marshall would need to be terminated. This dissolution would cause significant strife between Marshall and I, but with just reason. Marshall had an implied contract with my company stating he would heavily invest in my company’s Muscadine products, and these products would be supplied each month for a consistent predetermined price. An implied contract must consist of mutuality of intent to contract, consideration, an unambiguous offer and acceptance, and actual authority of the government’s representative to bind the government (White, 2008). An implied contract is also said to exist by the acts and conducts of both parties (Cornell, 2012). Considering Marshall has maintained an investment in my company’s Muscadine merchandise, one can conclude an implied contract exists. Marshall, seeing the potential profits to be gained by this new product, wanted to ensure a more positive control of his investment by creating a written contract. He made a huge error in judgment when he opted to have my son, a 17-year-old part-time delivery boy, secretly sign this written contract essentially detailing the already established implied contract.
Good Faith and Fair Dealing A new, promising business opportunity
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