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Essay / Research Paper Abstract
This 3 page paper examines concepts such as offer and acceptance, consideration, and capacity. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: RG13_SA01129con.doc
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Unformatted sample text from the term paper:
between a corporation and a person, but either way, the contract is a legal, binding, arrangement. Yet, no matter what type of contract is under consideration, there are certain elements
that are basic to the legal contract in general. The offer and acceptance of a contract is vital for it to be established, but other elements enter the picture. Those
who enter the contract must have the capacity to do so. Additionally, consideration must be a part of the agreement in order to it to move forward. The
Offer An offer is when someone conveys to another party that they want to enter into a contract (Jenkins, 2009). A contract is often a written document, but
there are oral contracts too. Similarly, an offer does not have to be made in writing (Jenkins, 2009). An example of an offer is when someone comes up to the
owner of a home and says that he is a film director and wants to purchase the home for a million dollars for an upcoming movie. The filmmaker is offering
money to the homeowner in exchange for the sale of his home. An offer is often met by a counteroffer. In this case, the man might say that he will
sell for two million, and then when the ball is back in the filmmakers court, he might say a million and a quarter, and this bantering can go on for
awhile. Cook (2011) provides advice for negotiating a contract: "Listen to the offer and put together a counteroffer. They want you. For this brief, glorious moment, you have the upper
hand. If only a limited number of dollars are available, both sides can get creative" (18). Sometimes, an offer is accepted from the start, and at other times, the offer
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