Ls311 Unit 4

Kaplan University LS311 Lori Kieffer-Garrison Unit 4 Case Study Kayla Fulrath November 19th, 2012 In this lesson study, we are looking into what constitutes a guarantee and when a person is stimulate to honor a arrest. In this scenario Carrie proposeed to sell a set of sanctioned encyclopaedias to Antonio for $300. 00. Antonio said that he would think about her offer and let her drive in his decision the next day. Norvel, who had overheard the conversation between Carrie and Antonio, said to Carrie, I need your offer, and Carrie gave Norvel the books.The next day, Antonio, who had no idea that Carrie had already sold the books to Norvel, told Carrie that he veritable her offer. We need to determine whether or not Carrie is have to sell her encyclopedias to Norvel and whether or not she is despoiling a contract with Antonio. The answer is yes, Carrie is obligated to sell her encyclopedia set to Norvel, and no, she did not breach a contract with Antonio. For a contract to b e considered a contract there are certain basic elements that must(prenominal) be present. First there must be an obligation to form a contract which consists of an offer and an acceptance of that offer.Second, there must be consideration, which consists of a valuable exchange to support the acceptance of an offer. Third, a contract must of contractual capacity, meaning the parties involved must be competent. Lastly, the contract must be legal (Miller and Jentz, 2008). Im sledding to assume that all parties are of sound mind and that Carrie is not illegitimately selling her set of encyclopedias because I dont have register to the contrary. In the situation with Norvel, I would verbalize a valid contract is established. Carrie has offered a set of encyclopedias for change.Her maiden tainter, Antonio, does not initially accept her offer. Norvel pops up and states that he would accept her offer. So now an agreement is formed, which is part of the elements of a contract being a contract. Consideration is also established because Norvel has stipendiary Carrie for her encyclopedias. Here an exchange of value has taken place, solidifying the agreement. Assuming the sale is legal and Carrie and Norvell arent crazy, we have ourselves a valid contract, thus Carrie is obligated to sell her encyclopedias to him. In the situation with Antonio, it looks like the making of a contract.Carrie presents an offer to sell Antonio her encyclopedias. Antonio does not initially accept her offer he basically says he will think about accepting her offer. So the first element of contract has partially been made. An offer is presented, but there is no acceptance. Had Antonio established consideration for the offer, like possibly offering a cling for her to hold the encyclopedias and promise not to sell them before he has had duration to think about it, then there would be a breach of contract. Antonio, plain and simple, did not accept the contract and did not offer each co nsideration for the offer.There is no breach of contract because no contract invariably existed. Although there is no legal obligation for Carrie to sell her encyclopedias to Antonio, I would say there is a moral one. I think in this situation, it would have been morally correct for Carrie to contact Antonio and let him know she had another elicit buyer and he needed to make a decision at that time, not the next day. He should have the first option to buy the books since he was offered them first, from a moral standpoint. References Miller, L. Roger. , & Jentz, A. Gaylord (2008). Fundamentals of Business Law. Cengage Learning Ohio.