Upon but the contract is not enforceable under this

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upon but the contract is not enforceable under this paragraph beyond the quantity of goods shown in such writing. (2) Between merchants if within a reasonable time a writing in confirmation of the contract and sufficient against the sender is received and the party receiving it has reason to know its contents, it satisfies the requirements of subsection (1) against such party unless written notice of objection to its contents is given within 10 days after it is received. (Cornell University Law Website) I interoperate this as saying that for the sale of goods from one merchant to another for anything totaling over $500.00 or more there needs to be a written contract in place and a verbal contract will not do. In summation since there is a written contract and the cost of goods is over $500.00 then I feel that written contract supercedes and oral agreement that was originally agreed upon. I also feel that promissory estopple cannot be enacted because there was no substantial hardship incurred by the plaintiff missing out on a vacation. Contract Law Contract law governs contracts, or law enforced promises. Contracts do not have to be written, there are verbal agreements as well though there are some requirements in some instances. The failure to adhere to the promises made in the contracts is considered a breach and contract law provides legal remedies. Obligation to fulfill the contract exists and the failure to do so will be decided if legally valid. Under contract law, if a breach has occurred the law will decide what aspects of the contract will be considered. For example, contract law looks at all angles including if the contract was ever really planned, if the parties involved in drafting the contract understood the actual premises, if any type of fraud or coercion occurred, and how the contract was terminated. In certain instances, promises made that are not considered contracts can be enforced if one party has become reliant upon the other party fulfilling the assurances. One of the most complicated problems that attorneys in contract law deal with is the verbal contract. Movie mogul Samuel Goldwyn is reported to have once said, "Verbal contracts aren't worth the paper they're printed on." Although they are notoriously difficult to regulate, state and federal laws regarding verbal contracts do exist, and can help to ensure the enforcement of a verbal contract. Three Elements of a Verbal Contract
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Mac Costas ATTN: Michael Wade 8999 e Vista Dr. GBS 205 - 13488 Scottsdale, AZ 85250 Legal, Ethical, and Regulatory Issues in Business 480.200.4107 [email protected] In order to be considered valid, a verbal contract must contain three elements: offer, acceptance, and consideration.
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  • Fall '10
  • williams

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