Quiz 19 - Emily Anderson Sarah Reneau Vanessa Reapor Quiz...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Emily Anderson Sarah Reneau Vanessa Reapor Quiz 19 One might say that by Doris returning Steve’s check, and not allowing him to stay for the week of July 4 th , she is revoking her offer. By Steve paying the $2,000, he ensures that the offer will be held open, but because Doris returns the money, she is breaching the contract. A breach of contract is legally defined as the existence of an agreement or bargained-for exchange where one of the parties fails, without a legally valid excuse, to live up to his or her responsibilities under the contract. On the other hand, however, the agreement between Doris and Steve is not a contract because a contract is defined as an agreement about the bargained-for exchange of legal detriment, which a court will enforce. In this case, their agreement has no shared understanding of terms of the contract: Steve believes he can pay $2,000 to stay July 4 th week and Doris plans to stay that week. The parties also fail to properly form the contract by not negotiating the terms of the contract. In order for an offer to be
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

Quiz 19 - Emily Anderson Sarah Reneau Vanessa Reapor Quiz...

This preview shows document pages 1 - 2. Sign up to view the full document.

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