Contract analysis

Contract analysis

CONTRACTS ANALYSIS“Good will come to those who are generous and lend freely, who conduct their affairs with justice” Psalm 112:5. It is important in life to conduct business fairly. In this case both parties were not conducting business fairly. Marshall was late on payments, yet expected on time delivery each month. The surprise contract shows Marshall and the company did not have an open communication on the terms of their prices and delivery schedule. The contract was also given to a minor which means it is not valid. Due to this the company should not continue to do business with Marshall. For a contract to be valid all parties signing must have a sufficient understanding of the contract and the terms being agreed upon. The fact Marshall gave the contract to the son when he was 17 means it can be voidable at the discretion of the minor. It seems Marshall was trying to take advantage of the situation and this is not of Christian value. It also is not in practice with Covenants of good faith. Covenants of good faith in contract law, is a “general presumption that the parties to a contract will deal with each other honestly, fairly, and in good faith, so as to not destroy the right of the other party or parties to receive the benefits of the contract” (Legal Dictionary). One of the legal aspects Marshall could bring to court was the company had a custom in practice in place. There are many aspects that need to fall into place for a custom and practice according to (). First, there must be established and long-standing and followed by the parties over a long period of time. It needs to have been continuously applied on every occasion that it has arisen and above all it must be reasonable. It must be over a period of time with very few exceptions. It also must be known to the parties and communicated...

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