Law – contract creation | Law homework help

omplete the Contract Creation and Management Simulation involving a contract issue and associated legal issues.

Don't use plagiarized sources. Get Your Custom Essay on
Law – contract creation | Law homework help
Just from $13/Page
Order Essay

Write responses to the decision points embedded in the simulation.


Business Standards Transcript


SpeakerNarrator, Robert “Bob” Johnson, Michael Smith


Narrator: Bob is a local used-car dealer and he’s feeling pretty good at the moment. He’s about to close a great deal with another used-car dealer, Mike.  Mike has agreed to pay Bob more than he expected for a like-new car on his lot. The car’s on consignment from its owner, Al. Bob and Mike had talked about the deal over the phone and e-mail. During Mike’s visit to Bob’s dealership they settled on a final figure of $25,000.00. Once Bob received the payment, he would then write a check to Al for $22,000.00 and keep $3,000 as a consignment fee. All he had to do was say yes.


Mike: Sounds great. I can’t believe you’re letting this go for so little. I mean for $25,000 (pause) I feel like I’m stealing.  


Bob: Yeah, right?



Mike: Take care.




Contract Creation:


To enforce a contract, the following four requirements must be met. Determine if each requirement has or has not been met, the explain your answer.


Offer: Met or Not Met, Why or Why Not?

Acceptannce: Met or Not Met, Why or Why Not?

Consideration: Met or Not Met, Why or Why Not?

A Lawful Object: Met or Not Met, Why or Why Not?


Do the parties have a contract at this point?

Yes or No?  Why or Why Not?


Does U.C.C. Article 2 (Sales), Section 201 apply in this situation?

 Why or Why Not?


Consider the two choices. What choice would you make if you were Bob?


1. Ask Mike to sign a written contract?

2. Move forward, because each side mutually understands the terms.


Are you satisfied with how the contract is written? (see contract below)


“In consideration of  the mutual promises and other valuable consideration exchanged by the Parties as set forth herein, Buyer agrees to buy, and the Seller agrees to sell the property hereinafter described; and the Parties, intending to be legally bound, hereby further agree as follows:

A. Description of Procured Vehicle

  1. Make: Toyota

  2. Model: Corolla / S Series (1.8 L 4-cyl 4AT)

  3. Body Type: Sedan

  4. Body Color: Classic Silver Metallic

  5. Year: 2012

  6.  Miles: 8,561

  7.  Vehicle Identificiation Number (VIN): JT4RN38S5D0578903


B. Consideration

  1. Purchase Price: The purchase price is to be remitted by Buyer to Seller for the Procured Vehicle is $25,000 US Dollars.


Narrator: The next day when Mike got into his office, the phone rang.


Bob: Hey Mike, this is Bob. Hey, I know you were going to write me a check for $25,000, but could you write two checks instead? (Pause) One for Al for $22,000 and one for me for $3,000.


Narrator: Mike thought about it for a moment and came back with an unexpected response. 


Mike: I’m going to have to reject your counteroffer, Bob. (Pause) No, we HAD a deal but you just rejected my original offer. (Pause). Look, there’s nothing on the table from my side anymore. (Pause) I tell you what? I’ll give you $20,000.



[End of Audio]


Can Bob enforce te original terms?

Yes or No? Why or Why Not?


Did Bob’s suggestion constitute a counteroffer? Or was it simply an offer to modify an existing contract?

Yes or No? Why or Why Not?


Due: Monday, Jan 27th



Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.

Read more

Free-revision policy

The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.

Read more

Privacy policy

The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.

Read more

Fair-cooperation guarantee

By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages