In this case scenario we are looping for what makes up a legal contract and when a person is obligated to respect that contract. Carrie Only offered to sell the set of legal encyclopedias to Antonio for $300. Antonio said that he will think about the offer and that he will let Carrie know about his decision the next day. In this case study, we are looking into what constitute a contract and when a person is obligated to honor a contract. In this scenario Carrie offered to sell a set of legal encyclopedias to Antonio for $300. 00.
Antonio said that he would think about her offer and let her know his decision the next day. The thing here was that Norvel overheard the conversation and he said that he accepted Carrie’s offer so she gave the books to Norvel. Then the next say, Antonio didn’t know that Carrie had already sold the books, told Carrie that he will take her offer. I consider that Carrie is obligated to sell the encyclopedia set to Norvel since there was an “I accept your offer” and Carrie agreed. In this case, Case isn’t obligated to sell the books to Antonio because there wasn’t a contract form and there wasn’t a firm offer.
For a contract to be considered valid there should be elements taken into consideration. There are four elements which are agreement, consideration, contractual capacity and legality. ” Agreement to form a contract includes and offer and a acceptance”(Miller, 2010, 153). There want any agreements with Antonio since he said he was going to think about the offer. Second there must be consideration, which there should be valuable exchange to support the acceptance of the offer. In third, there should be a contractual capacity, which means that both parties should be competent.
In order for the contract to have legality, “the contract’s purpose must be to accomplish some foal that is legal and not against public policy (Miller, 2010, 154). I don’t believe that Carrie has breached a contract with Antonio is any way. In this case Carrie only offered to sell the encyclopedias for $300, but Antonio never accepted the offer, and so he said that he would think about it. There wasn’t a clear agreement present between both parties therefore; this doesn’t make it a valid contract. Reference Miller, R. , and Jentz, G. (2010). Fundamentals of Business Law: Summarized Cases (8th Ed. ). Mason, OH: South-Western Cengage Learning.