Assignment 1 Business Law.docx

Although even when laura and jim see a lawyer the

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Although even when Laura and Jim see a lawyer the chances of getting back their deposit is low since they do not have evidence that they entrusted it with the salesperson, it is equally important to advise the two individuals to see a layer who would present their case in court for a possible reimbursement. The above can happen if the lawyer can argue out the case in a manner that the court can find some truth in the case, even without a written agreement. According to Wilkinson-Ryan & Hoffman (2015), a promissory estoppel is one of the approaches that can be used to present as well as approach cases where evidence is meagre and the fulfillment of the contract is heavily dependent on the will of the other party. This, hence might be an opportunity to be taken advantage of by Jim and Laura with the advice of their lawyer so as to see the probability of reclaiming their money. Beside the above aspect, it would also be right to advice the above individuals to seek legal guidance and discuss the potential of either loosing or winning the case. The above will help them in making the right decision so as to avoid losing more money in filing a case against the salesperson. Wilkinson-Ryan & Hoffman (2015) assert that although a legal agreement is binding and verifiable, an oral agreement, one which can be seen to be an ambiguous aspect can also be binding according to the law. One of the elements that the authors explain is the psychological aspect of a contract and hence the behavior of the individuals involved. The lawyer, in this case, can use an element such as the inclination of the salesperson to feel a moral
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DID LAURA BUY A CAR 6 obligation as an aspect to win the case. There are hence a few factors in the case that when critically analyzed by the lawyer, he or she can use them to his or her advantage to win the case. In conclusion, a contract is one of the most important evidence when an agreement between individuals fail. It acts as evidence that the concerned parties committed to honor their commitment. It is hence crucial for Jim and Laura to understand its importance and its elements to make sure they do not fall in such a dilemma in future.
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DID LAURA BUY A CAR 7 References Fried, C. (2015). Contract as promise: A theory of contractual obligation . Oxford University Press, USA. Meiners, R. E., Ringleb, A. H., & Edwards, F. L. (2014). The legal environment of business . Cengage Learning. Wilkinson-Ryan, T., & Hoffman, D. A. (2015). The common sense of contract formation. Stan. L. Rev. , 67 , 1269.
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  • Fall '16
  • Britt Honeycutt
  • English, Laura Buy

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