Impact of Business Law on our Everyday Lives

Impactof Business Law on our Everyday Lives

InstitutionAffiliation

Impactof Business Law on our Everyday Lives

Elementsof a Valid Contract

Thiscase scenario has a number of elements of a valid contract. There isan offer since Sam has verbally agreed to supply the equipment to thestore. An acceptance is there since the store manager is willing totake the supply (Treitel, 2003, n.p). However, information onconsideration in this agreement is unavailable. Additionally, thereis no clear intention to create legal relations between the twoparties. Although both parties have the capacity to transactaccording to contractual agreements, there is no clear certaintysince Sam made it as a suggestion.

QuasiContract

Thisagreement does not meet all the elements of a quasi-contract either.Sam is not obligated to deliver the goods to the store failure towhich he is to give compensation for breaching the agreement(Treitel, 2003, n.p). Although Sam probably stands a chance tobenefit from the sale of the goods, it still cannot be called aquasi-contract.

However,the store can use a promissory estoppel t argue out their case incourt because there is a promise made by Sam of delivering the goods.The store might be undergoing some inconvenience because probably ithad already started advertising the equipment in anticipation.

StandardLease Agreement

Thelandlord reserves the right to issue an eviction notice to Sam forfailing to inform him 30 days prior that he is conducting business inhis apartment. Sam is supposed to enjoy the property leasedpeacefully while considering the peace of other tenants. Sam hasalready breached this by having an invention that is disturbing othertenants. The landlord is allowed to evict Sam. However, Sam has anargument by informing the landlord and the legal system that he wasto conducting business in the apartment yet. It was just an agreementbetween him and the store and it was not formalized yet.

References

Treitel,G. H. (2003). Thelaw of contract.Sweet &amp Maxwell.