Assignment 1 Did Jim and Laura Purchase a Blue Sedan Vehicle.docx

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Running Head: Did Jim and Laura Purchase a Blue Sedan Vehicle 1Assignment 1: Did Jim and Laura Purchase a Blue Sedan VehicleJosephine Washington February 14, 2017Leg 100: Introduction to Business Law 1Professor Thomas Golden
Did Jim and Laura Purchase a Blue Sedan Vehicle 2Did Jim and Laura Purchase a Blue Four Door Sedan VehicleIntroductionA contract is a legal agreement between two or more parties. Contracts are either written or oral (Beatty, 2016). In this assignment, I would like to explain a scenario about a couple named Jim and Laura who went to an automobile dealership because they needed to purchase a new vehicle due to mechanical problems with their old car. They spoke with a sales representative named Stan who allowed them to test-drive several vehicles, but they liked the blue four door Sedan, so they give Stan a $100 deposit to hold the car for a day. Nevertheless, they went home and realized that they could not afford a new vehicle at this time and requested their $100 deposit back. However, Stan refused to give them the $100 deposit back, so they decided to seek advice from me regarding finding a lawyer. Although I am not a lawyer with a license, I am studying Business Law I and I would like to give Jim and Laura my opinion about elements of a legal contract and the defenses to a contract.The Elements of a ContractFor an agreement to be enforceable by the court, an individual must prove to the judge that a legal contract exists. In addition, if they are unable to show that a contract exists then the judge will determine the existence of a contract base on the seven elements of a legal contract: Offer, Acceptance, Performance and Consideration, Legality, Capacity, Consent, and Writing.

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