Contract Law

A contract is an agreement between two or more parties that is enforceable in court. Both
parties must agree in order for the contract to be valid. A contract must have an offer,
acceptance and must be competent people. CLICK HERE to access more information about
contracts. Use the web page to answer the following questions….

What are two elements that must be present - Something of value must be exchanged
to make a contract valid? - All parties must agree

Must a contract be in writing? Explain... - In certain states for real estate or

agreements that will last more than 1 year

What is the most basic rule to a contract? - a legal contract exists when one party
makes an offer and the other party
accepts it.

CLICK HERE to read about Walgreens VS - Theranos Inc. by lying about their
technology
Theranos Contract dispute. What party
breached the contract and how?

Denise Leigh Queen of the Classroom

 Capacity #1 Mental Capacity
EXPLORE - Someone who doesn't have mental capacity can either
CLICK HERE to access a link about void a contract or have a guardian void it with the
capacity and who can enter into a valid exception of contracts for necessities
contract. This link refers to three types Capacity #2 Alcohol and Drugs
of contract capacity. List them and - Those who are intoxicated by alcohol or drugs aren't
explain them. considered to lack capacity to enter into a contract
Capacity#3 Minors
A minor who signs a contract can void it or honor the deal,
aside from a couple exceptions

John can void the contract because he is a minor and the cell
ACCESS phone plan is not a necessity
John, age 15, went to the Verizon Store
to purchase a cell phone and signed a
contract for $29 a month for service.
His mother was not happy. What can his
mother do to remedy the situation?

Joan can return the car because she was too inebriated to
EVALUATE make a decision of sound mind and can void the contract.
Joan, age 23, just got her wisdom teeth
out two days before buying a car. She
was unable to drive to the dealership
due to her pain medicine so her brother
drove her. The brother commented to
the car salesman her slurred speech
due to her meds. Four days after

Denise Leigh Queen of the Classroom

buying her new SUV, she decided that
she couldn't even park the vehicle
because it was so large. Can Joan
return the car? Explain

Denise Leigh Queen of the Classroom