I’m studying for my Business class and don’t understand how to answer this. Can you help me study?
Contracts Rules Everything Around Me
Contracts move every aspect of commerce; big and small; down to every transaction in which you participate; down to the home you buy; the products you buy on Amazon; to the food you buy at the grocery store.
What questions do you have regarding the necessary elements required to form a legally binding contract; or in what circumstances is a contract legally formed or not?
• (10) points will be awarded for a thoughtful question in this discussion thread that proposes a question of law for the class to answer whether a contract was legally formed or not? You must also provide a set of facts in which to apply the question of law. This can even be from a simple personal experience such as when you select an apple in the grocery store: are you offering to purchase the apple or accepting the advertised offer to purchase the apple? (more facts would be needed here to make this a thoughtfully proposed question but hopefully you get the idea).
• (20) points will be awarded for a correct, thoughtful response to a question. In your response you must provide a source for the law or laws that support your conclusion (which will be a citation to the textbook). If your response does not have a source of law, then it is merely opinion. Law is formed by caselaw, statutes and regulations; both state and federal; also to a lesser degree by city ordinances. Your text and lecture notes summarize the law to the degree necessary for this course. Please also don’t copy and paste law from external sources as though these words are your own as that is plagiarism. Please also provide the necessary elements to form a legally binding contract in your answer. Expound in depth where necessary to support your conclusion. It is encouraged to have more than one answer to a question as the first responders are not always correct or awarded full points for having a meaningful response.
• (30) points total are available per student on the basis of: one question worth (10) points and one answer worth (20) points.
• I will moderate the discussion if the responses are going in an unproductive direction but I’m guessing that with the high number of students in this class, that the correct and best answer will get refined over time (or not – the best could be the first?) I am hoping that this exercise can 1) help you understand all the various ways we are affected by contracts and 2) expound on the knowledge you have already learned on the subject matter.