U3IP - Legal and Ethical Environments in Business Unit 3...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Legal and Ethical Environments in Business Unit 3 Individual Project 1 Legal and Ethical Environments in Business Unit 3 Individual Project Warren Synecky BUSN150-1003A-03 June 24th, 2010
Background image of page 1

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

View Full DocumentRight Arrow Icon
Legal and Ethical Environments in Business Unit 3 Individual Project 2 Abstract In this paper, I will be covering the legal aspects of a valid contract, and the different interpretations people may have on the law. I will be discussing the John D.R. Leonard vs. PepsiCo case and how the court ruling on that case supports the objective theory of contracts.
Background image of page 2
Legal and Ethical Environments in Business Unit 3 Individual Project 3 The four elements of a valid contract are; parties, consent, object, and consideration. For a contract to be legal, first thing you need is people of sound mind to identify in the contract. Second you need consent which must be free, mutual, and communicated to all parties involved. Steinberger (2007) stated “Consent is not free when obtained through duress, menace, fraud, undue influence or mistake.” The third element of a valid contract is the object or subject.
Background image of page 3

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

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/02/2011 for the course BUSN 150-10 taught by Professor Randolphfein during the Fall '10 term at American InterContinental University.

Page1 / 5

U3IP - Legal and Ethical Environments in Business Unit 3...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online