Business Law Milestone 2 - BUS206:CaseStudy2 1 Bus-206 Case...

Info icon This preview shows pages 1–3. Sign up to view the full content.

BUS-206: Case Study 2 1 Bus-206: Case Study 2 Andrew Stevens Southern New Hampshire University
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

BUS-206: Case Study 2 2 BUS-206: Case Study 2 Looking at the case, Sam and the national store came to a verbal agreement that Sam would supply the national chain store with 1000 machines. There wasn’t an actual paper contract signed, but that doesn’t mean a valid contract didn't exist. Essentially, all that is needed for a valid contract to exist is a clear agreement and mutual promises to exchange things of value. Most contracts only need two elements to be legal: all parties must be in agreement and some- thing of value must be exchanged or promised. (Laurence, B. 2016) Sam did not sign a contract, but he did agree to the request of the national chain store and this verbal agreement meets all requirements of a valid contract. However, if the verbal agree- ment doesn't stand as a valid contract, there are other ways the national chain store could prevail on a claim. Two of those ways are promissory estoppel or a quasi-contract. A quasi-contract may be presumed by a court in the absence of a true contract, but not where a contract, either express or implied in fact, covering the same subject matter already ex- ists. (“Quasi-Contract” 2016). This means if the court were to rule against a valid contract, the
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern