Contract Creation Essay

435 WordsNov 11, 20122 Pages
Contract Creation and Management LAW531 Contract Creation and Management The purpose of this paper is to analyze the issues presented in The Nature of Agency Video with regards to the Quick Takes Video Company and the subsequent issues that have arisen from Non-Linear Pro, who “has filed suit against Quick Takes Video to collect money it claims is owed on a lease for editing equipment” (University of Phoenix, 2012, p. 1). The above stated video carries on the scenario of the professional association between Non-Linear Pro and Quick Takes Video. Dissatisfied with Non-Linear Pros video editing software, Quick Takes owners initiate a conversation with a spokesperson from the editing software company (Non-Linear Pro) with the hopes of discussing a solution that may help in updating their current equipment. It is in this first meeting between these two companies that the basis of the ensuing law suit in which both Quick Takes and Non-Linear Pro dispute the terms of the initial agreement pertaining to the use of the editing software. The main issue in this scenario involves the determination of whether or not a contract was formed between the two companies. Additionally, the delineation of agencies inside a small business will need to be examined in order to determine whether or not the actions of one Quick Takes employee may in effect validate the terms of the contract between the two companies. Elements of a Contract When attempting to make a determination as to whether or not a contract has actually been made amid two parties, elements of said contract are scrutinized to determine contract enforceability. In order for a contract to be enforced, four basic requirements will need to be met, they are as follows: “agreement, consideration, conceptual capacity, and lawful object” (Cheeseman, 2010, p, 154). In the first meeting Non-Linear Pro made an offer to one of

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