Contracts: How They Effect Everyday Life
Contracts: How They Effect Everyday Life
BUS 311 – Business Law I
Prof. Katheryne Rogers
January 6, 2012
Most people in society think that contracts are pointless and unnecessary. Contractual law is not high on society’s list of things to study. What society does not realize is that contracts bind a majority of the decisions that they make on a systematic basis. In this paper I will make evident the effectiveness of contracts and how they are such an immense aspect in society’s everyday life.
This paper will demonstrate the practicality of contracts and how they influence and add to everyday life. I am also going to show what would happen if we did not have any contract regulatory resolutions made. Without contracts; the law would not be able to make a verdict as to who to rule for if something were to come up; which transpires daily all over the world. The definition of a contract is basically an agreement between two or more persons. This explanation integrates countless things. Almost everyone in today’s society is a consumer. Just by being a consumer you make choices based on issues that have been put in place by contracts.
To show how crucial contracts are; a consumer awakens in his home; which he purchased from K.B Homes. K.B home is a company that is well known for designing homes. The consumer’s house was built by contractors. By differentiation a contractor is an individual or firm who contracts to build things. Plummer’s, electricians, carpenters, and painters are all samples of contractors that were intricate in making the consumer’s fantasy house become real.
K.B Homes does not have a contract with every type of contractor that is involved with building the house. They go to a general contractor and have one contract with the general contractor. The other specialty contractors go through the general contractor directly for any questions or concerns they have.
In most cases the general contractor hires all the different types of
BUS 311 – Business Law I
Prof. Katheryne Rogers
January 6, 2012
Most people in society think that contracts are pointless and unnecessary. Contractual law is not high on society’s list of things to study. What society does not realize is that contracts bind a majority of the decisions that they make on a systematic basis. In this paper I will make evident the effectiveness of contracts and how they are such an immense aspect in society’s everyday life.
This paper will demonstrate the practicality of contracts and how they influence and add to everyday life. I am also going to show what would happen if we did not have any contract regulatory resolutions made. Without contracts; the law would not be able to make a verdict as to who to rule for if something were to come up; which transpires daily all over the world. The definition of a contract is basically an agreement between two or more persons. This explanation integrates countless things. Almost everyone in today’s society is a consumer. Just by being a consumer you make choices based on issues that have been put in place by contracts.
To show how crucial contracts are; a consumer awakens in his home; which he purchased from K.B Homes. K.B home is a company that is well known for designing homes. The consumer’s house was built by contractors. By differentiation a contractor is an individual or firm who contracts to build things. Plummer’s, electricians, carpenters, and painters are all samples of contractors that were intricate in making the consumer’s fantasy house become real.
K.B Homes does not have a contract with every type of contractor that is involved with building the house. They go to a general contractor and have one contract with the general contractor. The other specialty contractors go through the general contractor directly for any questions or concerns they have.
In most cases the general contractor hires all the different types of
References: GPO Access’ Website provides answers to frequently asked questions about United States Codification of Law. Retrieved February 1, 2012: (http://www.gpoaccess.gov/uscode/) Wal-Mart’s Website provides answers to frequently asked questions about their products available. Retrieved February 2, 2012: (http://www.Wal-Mart.com) Liuzzo, A. L., Bonnice J. G. (2007) Essentials of Business Law. New York: The Mcgraw-Hill Companies. MagTek’s Website provides answers to frequently asked questions about their products available. Retrieved February 3, 2012: (http://www.MagTek.com)