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Ethical Issues In Sport Law

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Ethical Issues In Sport Law
Rick Marcello
Prof. Frey
Sport Law SPMG 336
Chapter 4

1. What are the benefits of using a worst case scenario approach in drafting contracts? The benefits of using a worst case scenario include protecting the interests of the organizations in case of a breach of contract. 2. Explain the concepts of agreements, consideration, capacity, and legality in formation of contracts. A) An agreement consists of an offer and acceptance. An offer to sell equipment for $300 is a communication of an offer. If one agrees to pay the price for the equipment there is an acceptance. B) Consideration involves the exchange of value. One party gives up something of value in exchange for the other party’s value. If there has been an exchange of promises,
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