Milestone 2.docx - Payton Johnson Professor Dixon BUS 206...

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Payton Johnson Professor Dixon BUS 206 Southern New Hampshire University February 17, 2018 Milestone 2 A. Various elements must be present to prove that a valid contract exists between Sam and the chain store The four elements to a contract are agreement, consideration, contractual capacity, and a legal object. The first element of agreement would be deemed to exist if there was an offer and an acceptance. Sam had previously made a verbal offer to the store, stating the store manager he would ship them 1000 units. The second element of consideration would be deemed to exist if Sam and the store talked about a return to Sam in exchange for the units. There was no form of payment or exchange. The third element of contractual capacity would be deemed to exist is Sam and the store both had legal ability to enter into a binding agreement. Given information on both parties, it does not seem as though there would be any restrictions otherwise. The fourth element of legal object means that to be enforced that contract cannot be illegal or against public policy. The subject matter is about selling his invention to the stores which is both legal and not against public policy. If the elements did exist between these parties, there could still be some possible reasons why a contract might not be valid based on facts not present in the scenario. For example, is Sam was a minor at the time he made the
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