WendyKimbleIP3 - Running head: CONTRACTS 1 Contracts Wendy...

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Running head: CONTRACTS 1 Contracts Wendy Kimble American InterContinental University Online
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Running head: CONTRACTS 2 Abstract This paper is an executive summary on contract issues based on the article “Seattle man loses in battle with Pepsi for Harrier-jet prize” in a 1999 issue of the Wall Street Journal .
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Running head: CONTRACTS 3 Contracts The article “Seattle man loses in battle with Pepsi for Harrier-jet prize” (1999) in the Wall Street Journal presented an interesting case in contracts. In the article, John D. R. Leonard took PepsiCo to court because the company refused to deliver an item advertised for sale with their Pepsi points in a Pepsistuff commercial. The item in question was a $23 million Harrier jumpjet used by the U. S. military. A valid contract needs to have four elements to it. Two or more parties entering into an agreement is the first. The second is all parties are qualified to agree to all terms and conditions in the contract. The third is that all parties involved are receiving some sort of value or
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WendyKimbleIP3 - Running head: CONTRACTS 1 Contracts Wendy...

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