BRIEF#1 - Zhemer offered a written contract to give the...

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ISSUE Whether or not Lucy and Zhemer formed a binding contract, given that Zhemer made the offer to Lucy in jest, which may indicate that Zhemer had no intention of forming an enforceable contract. RULE The objective theory of contracts states that the intent to contract is to be judged by the reasonable person standard and not by the subjective intent of the parties. APPLICATION/ANYLASIS Whether or not Lucy and Zhemer formed a binding contract, interpreted by a reasonable person to discern if the given parties had intent to enter an enforceable contract.
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Unformatted text preview: Zhemer offered a written contract to give the deed of his property up for the sum of $50,000. It is within reason to believe this was a consequential action. At the time of the offer Lucy offered $5 to bind the contract, the offer was signed by Zhemer. The emotional intent of Zhemer has no validity, as a signed contract lie on the table. CONCLUSION Yes, the contract is legally binding. The courts ruled that any reasonable person would view this as a serious contract, as outlined by the objective theory of contracts....
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This note was uploaded on 07/04/2011 for the course MGMT 3125 taught by Professor Aminekhayati during the Spring '10 term at SPSU.

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