Unit 2Assignment Teeter

Topics: Contract, Contract law, Meeting of the minds Pages: 4 (312 words) Published: March 29, 2015

Basic Contract Project
Frances Teeter
Kaplan University

Professor David Rakowski
PA130
March 10, 2015

MEMO
To: Ms. Starz
From: Frances Teeter
Date: March 10, 2015
Subject: Is there a binding contract between Claire Dawn and Leonardo DeCapo in the matter of the 1965 Corvette Stingray sold by Claire Dawn?

In the above subject matter, it is in question whether or not there is a binding contract between Claire Dawn and our client, Mr. Leonardo DeCapo, in the matter of a sale of Claire Dawn’s 1965 Corvette Stingray. I have reviewed all of the relevant facts and documentation provided to us by Mr. DeCapo and have arrived at the following conclusion in regards to this matter:

Ms. Dawn made an offer to Mr. DeCapo in the amount of $26,000.00, plus all of the title and transfer fees, Mr. DeCapo had stated he did in fact accept this offer. There was no consideration bargained for between Ms. Dawn and our client that may have induced promise. A contract is said only to come into effect once an offer is accepted and consideration bargained for between the parties that was induced by promises and performance (Law School, 2011). Mr. DeCapo communicated his acceptance of Ms. Dawn’s offer through the postal mail service (via a note written on a napkin) and since no agreed upon form of communication had been made with regard to acceptance of the offer, then as suggested by contract law, the contract did not come into existence at the moment that the acceptance was posted since the parties had not explicitly or implicitly have in contemplation post as a means of acceptance (Law School, 2011).

This rule implies that in the matter written above, there is no binding contract in existence between Claire Dawn and Leonardo DeCapo.

Reference(s):
Law School. (2011). Offer and Acceptance. Retrieved from
http://www.4lawschool.com/contracts101/offer.htm
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