Problem 23.1. Written and Oral Contracts

Problem 23.1

Read each of the following situations and decide whether a contract has been made. Give your reasons.

a.An auctioneer says, “Do I hear a bid for this antique sofa?” Someone in the crowd says, “$300.”

b.Yukiko says to Basil, “I’m going to sell my car for $500.” Basil replies, “All right, here is the money. I’ll take it.”

c.The citizens of a small town collect $1,000 and offer it as a reward for the capture of a suspected criminal. The sheriff captures the suspect and seeks the reward.

d.Megan’s father promises to pay her $1,000 when she turns 18. On her eighteenth birthday, she seeks the money.

e.Standing at one end of a long bridge, Shelly says to Lynn, “I’ll give you $5 if you walk across the bridge.” Lynn says nothing but starts walking across the bridge.

f.Liz offers Sharon $100 to steal four hubcaps for her new sports car. Sharon steals the hubcaps from a car dealership, brings them to Liz, and asks for the money.

Written and Oral Contracts

Most contracts may be either written or oral (spoken). However, certain kinds of contracts must be in writing to be enforceable. These include contracts for the sale of land or real estate, contracts for the sale of goods priced at $500 or more, agreements to pay another person’s debt, and agreements for services that will not be performed within one year from the date of the agreement.

The law favors written contracts. For your protection, it is always better to have a written contract if possible. Otherwise, it can be difficult to prove that a party promised to do something. If there is a written contract, a court will not consider evidence of promises made before the signing of the contract, except when the written contract is unclear or one party was tricked into entering the contract.

⇐ Предыдущая 1 234 Следующая ⇒