Elements of a Contract Essay

1216 WordsSep 23, 20155 Pages
Legal Advice for Cardigan’s Situation Ahlon Glenn LS 311 Mark Baum 09/19/2015 TO: Attorney Strami CC: P. Strami and Hammond, Attorneys at Law FROM: _______________________________ DATE: September 17, 2015 SUBJECT: Cardigan’s Contract Situation A contract can be described as an agreement between two or more parties that generate obligations that are enforceable by law. Since contracts are promises enforceable by law, there are legal provisions that offer remedies or recourse if contractual obligations are breached. In order for contracts to be legally binding, they must entail exchange of a promise for sufficient consideration. The basic principles of formation of a contract include the existence of an offer, acceptance, and consideration. The determination of contractual obligations requires examining whether these principles exist in the specific situation. Existence of a Contract The major issue surrounding Camille and Sonya’s situation is whether or not a contract was formed based on the basic contract principles of offer, acceptance, and consideration. Based on these basic contract principles, a contract has been formed between Camille and Sonya. It is quite evident that there was an offer made by Camille for Sonya to sew 500 unique sweaters and hat pair with Candie Cardigan’s signature. This offer presented to Sonya involved exchange of a promise for enough consideration, which implied that it was legally binding (“Contract”, n.d.). Secondly, there was acceptance of the offer since Sonya agreed to make every sweater and hat pair for $100. Third, there was consideration because Sonya agreed to work on the contract right away despite lack of down payment while Camille was planning to sell each pair of sweater and hat at $300. This implies that Camille and Sonya received valuable consideration for fulfilling their respective sides

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