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APA
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Law
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Research Paper
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English (U.S.)
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Did Jim and Laura Buy a Car? Scenario Assignment Paper

Research Paper Instructions:

Did Jim and Laura Buy a Car?
Worth 200 points
HINT: See Chapters 10-14 of the text to help understand some of the legal issues covered in this assignment. (Attached) Also, please use the following website as resource https://www(dot)law(dot)cornell(dot)edu/ucc/2/2-201 https://www(dot)law(dot)cornell(dot)edu/ucc/2
Jim and Laura Buyer visit the local car dealership because they are interested in buying a new car. The car they currently have is aging and is starting to have mechanical problems. Jim and Laura would share the new car, and use it to go back and forth to work and school. Before going to the dealership, Jim and Laura decide that they can only afford $400.00 a month in car payments.
Once at the car dealership, Jim and Laura meet Stan Salesman. Stan shows them several vehicles and Jim and Laura test-drive several of the cars. Jim and Laura particularly like the blue 4-door sedan. Therefore, they agree to give Stan Salesman a $100.00 deposit to hold the car for a day. Stan Salesman does not give them the receipt but guarantees that the $100.00 is refundable. No documents were signed.
The next day, Stan Salesman calls Jim and Laura to ask them when they would like to take delivery of the car. Jim and Laura, on the way home from the dealership, decided that they were not going to buy the car because they did not want to spend that money each month. Therefore, Jim and Laura tell Stan salesman that they have decided not to buy the car and request their $100.00 deposit back.
Stan insists that the $100.00 was a deposit on the car and was meant to be part of the contract to buy the car. Stan is very persistent and insistent that Jim and Laura have contracted to buy the car; therefore, the $100.00 will be applied to the purchase price of the car. Jim and Laura are shocked and angry as not only do they not want to spend the money, but now feel as though they are being duped by Stan Salesman.
Jim and Laura have an appointment to see a lawyer in a few days, but know you are a student taking a business law class and come to you for advice. They are very frazzled, and understandably upset that they may have just purchased a car. Since you have been taking business law, you have read and understand the elements of a contract and the defenses to a contract. Therefore, although you are not a lawyer, you provide some basic advice from what you’ve learned in your business law class.
In three to five (3-5) pages, advise Jim and Laura based on the above facts as presented, the material provided in the text, and material covered in the lecture. In your paper, be sure to address the following:
1.Define the elements of a legal contract using examples from the scenario where applicable.
2.Decide whether or not there was a contract for the purchase of the automobile.
3.Identify the facts from the scenario which support your decision on whether or not a contract exists for the purchase of the automobile.
4.Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as quality academic resources.

Research Paper Sample Content Preview:

Contract
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1.Define the elements of a legal contract using examples from the scenario where applicable.
Legal matters sometimes tend to be quite confusing especially if one has not had a chance to study law in any of the course work (Gordon, 2010). However, this does not exempt anyone from facing justice if they do not have the knowledge. As such one cannot feign ignorance to help in a legal case. In this light, the step taken by both Jim and Laura are quite significant in helping them resolve their case in the easiest and most amicable manner. This is a case this involves a contract and one that has some issues that need to be ironed out.
To better understand what it is that their case involves and how to better get ahead of the salesman that would want to dupe them of their $100, they have to first understand the various elements that make a contract legally binding. This is to mean that the contract that has the various elements below, can be used in a court of law as part of viable evidence. It is important to note that every contract that is legally binding, will have six main elements. The first element of a contract is an offer. Ideally this is the manifestation of the parties’ willingness to enter into a bargain that is made to justify that persons assent is invited to the same bargain and is included (Gordon, 2010). The other element is referred to as acceptance, which is the manifestation of the assent to the terms that have been made by the offeree in a manner that is required by the offer ("Elements of a Contract — Judicial Education Center", 2017). This further means that the acceptance must not in any way even minimally change the terms that have been previously included in the offer. The third element is a legal purpose. Ideally, the purpose of the contract must be for legal purposes. This is to mean that that purpose for which the contract is made for, must be legal. As such, it is not possible for two parties for example to enter into contract to supply and distribute meth in a given area. This is to mean that, a contract cannot be written up and signed for purposes of carrying out illegal activities. The fourth element is a mutuality of obligation. This is to mean the parties to the contract have a mutual understanding and assent to the expression within the agreement signed into. For the contract to be legally binding, the parties must all understand what it is they are getting into...
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