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Business Management Liability Scenario PaperMelissa BlackwelderProfessor Lori BaggotMay 6, 2020
2Pursuant to contract law, is the waiver of liability legal and do Brian’s verbal assurances become part of the contract? Why or why not?Every contract, regardless, if it is written, electronic, or verbal, must contain certain elements for it to be legally binding. There must be an offer and acceptance from all parties involved. Another component of the contact is consideration. Are all parties giving something in return for the contract? In a verbal contract, all parties must know about the establishment of the contract and the provisions included in the contract (Are Verbal Contracts Binding? 1.). While verbal contracts are legally binding, they are extremely hard to prove in the court system. I would say that Brian’s verbal assurance to Lori is not legally binding because neither party is giving up anything, and Lori does not know that the statement is becoming part of the contract.