Business Law
Marina Trohin Business Law William A. Shelby 2/13/2013
Introduction At the course of Business Law, we got the knowledge about the contract. In addition we have an assignment that provides a contract analysis. This evaluation of the contract will be reviewed in accordance with the following requirements: 1. What specifically makes this contract enforceable? 2. What are the responsibilities of both parties? 3. What are the possible damages and liabilities? 4. What impact does a potential breach of contract have on the business? 5. Summarize, by reflecting in general on the impact legal issues can have in both small and large businesses.
So, a contract is any voluntary legally binding agreement between two or more people or businesses. In our case the two parties will be represented by The State of Oregon, and by Pro DX, who will provide services and goods to the first one.
1. What specifically makes this contract enforceable?
Based on the English Statute of Frauds, not every contract has to be in writing to be valid and enforceable, but some contracts should be. This agreement between State of Oregon and Pro DX, should be in writing because this contract involving the providing of services (repairs, replacements, maintenances, and others) exceeding a big amount of money. To avoid misunderstandings and disagreements and to reduce the possibility of perjury by one party or the other, this contract should be in writing. Furthermore, because it can be performed in less than one year, this kind of contract can be in oral form, and it requires involving the third party (a witness) who in case of the trial will bring a reasonable and effective evidences, otherwise one of the party might deny that the contract ever existed or might disagree on the terms of the contract. Besides that this
Introduction At the course of Business Law, we got the knowledge about the contract. In addition we have an assignment that provides a contract analysis. This evaluation of the contract will be reviewed in accordance with the following requirements: 1. What specifically makes this contract enforceable? 2. What are the responsibilities of both parties? 3. What are the possible damages and liabilities? 4. What impact does a potential breach of contract have on the business? 5. Summarize, by reflecting in general on the impact legal issues can have in both small and large businesses.
So, a contract is any voluntary legally binding agreement between two or more people or businesses. In our case the two parties will be represented by The State of Oregon, and by Pro DX, who will provide services and goods to the first one.
1. What specifically makes this contract enforceable?
Based on the English Statute of Frauds, not every contract has to be in writing to be valid and enforceable, but some contracts should be. This agreement between State of Oregon and Pro DX, should be in writing because this contract involving the providing of services (repairs, replacements, maintenances, and others) exceeding a big amount of money. To avoid misunderstandings and disagreements and to reduce the possibility of perjury by one party or the other, this contract should be in writing. Furthermore, because it can be performed in less than one year, this kind of contract can be in oral form, and it requires involving the third party (a witness) who in case of the trial will bring a reasonable and effective evidences, otherwise one of the party might deny that the contract ever existed or might disagree on the terms of the contract. Besides that this