TamikoHenry (1) - Did Jim and Laura Buy a Car Tamiko Henry Professor L Muhammad LEG100 Did Jim and Laura Buy a Car A contract is a legally enforceable

TamikoHenry (1) - Did Jim and Laura Buy a Car Tamiko Henry...

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Did Jim and Laura Buy a Car?
Did Jim and Laura Buy a Car?A contract is a legally enforceable agreement. People make agreements on a regular basis, but only some of those agreements are enforceable. In order for a contract to be enforceable in the eyes of a court system it must contain seven key characteristics. Those characteristics are an offer, acceptance, consideration, legality, capacity, consent, and writing. In the scenario concerning Jim and Laura were these elements present? Let’s review the information given regarding the case at hand. Jim and Laura decided they wanted to buy a new car. They both went to see Stan Salesman at the car dealership and inquired about an automobile. They were shown several vehicles on the lot and decided on the blue four door sedan after several test drives. Jim and Laura give Stan Salesman $100.00 in cash as a deposit to hold the vehicle for them, Stan Salesman agrees that the money given was for a deposit and that it was refundable to the couple. When Jim and Laura decided not to purchase the vehicle they went back to Stan Salesman to get the deposit back that they had given to hold the vehicle. Stan Salesman did not refund the $100.00, but told Jim and Laura it was a down payment on the vehicle they test drove. Stan Salesman was not holding up the agreement that was stated verbally between the parties involved. As the legal student looking over this particular case, I do not feel as though there was anything that bound Jim and Laura to the deposit of a purchase on the car and should be given back their money. A verbal contract is just as binding as a written contract between two or more individuals as long as both parties agree on the terms of the oral contract. Elements of a Contract An offer is a promise to act or refrain from acting, which is made in exchange for a return promise to do the same. Acceptance of an offer is when both parties assent to its terms. Acceptance must generally be made in the manner given by the offer. Consideration means there
Did Jim and Laura Buy a Car?

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