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Furthermore, Paula should have asked for a detailed list of the type of equipment included in the trailer.This could have better defined the contract terms. However, since it was not defined in the terms of thewritten contract signed by Paula, the television is not a term of the contract.However, before Slick Willy prepared the written purchase agreement, the television wasa term of thecontract. This is shown by Slick Willy making an offer by saying, if she wanted the television set, hewould throw that in for an additional $1,000, this statement then became a term of the contract. Pauladid verbally accept this offer by saying, “take it all”, meaning agreeing to the additional price for thetelevision. Once the written purchase agreement was signed by Paula, and the total price did not reflectthe additional $1000 in the contact terms, therefore there is reasonable evidence to suggest that thetelevision was not a term of the contract, the contract being, the written purchase agreement.
Mark: 2/45. The following breakdown shows the types of legal risk management strategies Slick Willy should use toavoid or minimize the risk from the case in the future or why other strategies would not work.Risk AvoidanceSome risks are so serious that they should be avoided altogether. In Willy’s situation, we recommendusing this strategy. Slick Willy could take full responsibility for the mistake he implemented on thedocumentation of the contract as both the written and oral discussion didn’t align by quickly handing inthe TV that was discussed. Doing this lessens the chances of the customer taking legal action againstWilly’s enterprise.Risk ReductionIn regard to Willy’s situation. Willy can discuss the situation with the customer and ask for othermethods of compensation such as a contract update from the previous one that was intended.Reducingrisk does entirely remove the entire problem as issues would still be present or would likely to occuragain.Risk ShiftingWilly can transfer risks to hisemployees as a way of creating responsibilities by allowing them to handlethe situation in a manner that he might fail to provide. This risk method enables third parties to quicklyformulate methods of resolving a current situation as a joint effort is being made.Risk AcceptanceWilly could accept the full legal risk of being held liable in regard to the contract terms that werediscussed and documented as they would be considered a fraudulent practise to the buyer. With this, itbecomes his financial obligation to protect his business operation and reputation. This could be
considered beneficial as he is able to easily identify the risk, analyse the situation and next approachesto take that becomes a lesson.

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Term
Fall
Professor
N/A
Tags
The Hours, sue Dionne

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