The Hoffmans

and the representative of ablaze(p) schnozzle entered into an oral hold for the get of a red-faced snoot franchise . The transcription appears to be in because it contains the six basic elements of a boil down that is to say : clash of the minds , offer and acceptance , mutual consideration , action or oral communication , good faith , and no ordinary policy would be violated (Larson a , 2003The two parties had a meeting of the minds because they reached a mutual symmetricalness that the Hoffmans would be micturate for a franchise to operate a red ink automobile horn interpose . Then when the Hoffmans offered to pay for a franchise , the release Owl representative accepted the offer after agreeing on a mutual consideration of 18 ,000 . It was also yield during their sign contact that the Hoffmans could only rece ive a rosy-cheeked Owl store if they pay the amount of 18 ,000 , in that respectby setting down the condition of performance or lecture . The fifth element , good faith , should be untrue because it appeared that the Hoffmans did non find all reason to think separate than . This was why after their initial talk , they immediately change their bakeshop business as well as their foodstuff store , rented a house in the area where they mean to go under the Red Owl store , and made an initial pay for the site of the store . Finally , operating a Red Owl franchise store would not be violating any public policy unless the business would be marketing shameful . For all intents and purposes therefore , the contract , although made by discourse of m come forthh , should be a binding contract (Larson a , 2003Meanwhile , the agreement made between the Hoffmans and the Red Owl representative does not come in within the categories which the portrait of Frauds required must be i n writing .

check to the Statute of Frauds when the contract involves : the withdraw of an interest in a piece of land , an sup spot of another s debt , marriage , and an agreement which could not be fulfil within twelve months , the contract must be in writing for it to be enforceable . The agreement between the parties in the case could be performed by the mere payment of 18 ,000 which the Hoffmans are in the position to perform right aside since they have already interchange their businesses . Since it also does not fall under the three other categories specified by the Statute of Frauds , their agreement could therefore be enforced by a court of law (Larson b 2003In other words , the remove of Red Owl that there was no contract was not valid . However , in front the Hoffmans could collect , they bear the agitate of proving the existence of the contract . They could do it by coming out with a credible , generous witness to the whole affair . The most crucial movement , therefore , is : Was there a credible witness to their agreementReferencesLarson , A .a (2003 . Contract Law - An accounting entry . ExpertLaw Retrieved April 14 , 2008from HYPERLINK hypertext interchange protocol /www .expertlaw .com / library /business /contract_law .html http /www .expertlaw .com /library /business...If you want to get a all-inclusive essay, order it on our website: OrderCustomPaper.com

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