Legal Contract Analysis
Legal Issues in Business
BUSI 561
Liberty University
Should business with Marshall Peterson be continued? Does the contract remain valid, if a minor signed it? Was the contract generated under an implied covenant of good faith and fair dealing? As defined by the Legal Information Institute of Cornell University Law School (n.d.), a contract is an agreement creating obligations enforceable by law and has the basic elements of mutual assent, consideration, capacity, and legality.
This case involves a contract validity dispute between two companies. Marshall Peterson, the buyer, wants the signed contract, unknown to the owner, that he had the part-time delivery driver, who was a minor at the time, upheld. Should the contract be considered valid or null and void? In this paper, I will be evaluating the legal and spiritual perspective of this case study.
For his argument, Peterson could use the Uniform Commercial Code (UCC) Article 2, which refers to sales and contracts. He could argue general obligations of parties according to Article 2-301, which states that, “the obligation of the seller is to transfer and deliver and that of the buyer is to accept and pay in accordance to the contract” (2002). Peterson may also argue that business between both parties started with a verbal agreement before an employee of the seller, regardless of age, signed the requirement contract and for the seller to renege on his part of the deal would be a breach of contract. As a man of God, the seller could attempt to handle this situation without legal action first and use his faith and understanding of the Bible and its scripture to show Peterson that business can be handled with honesty and integrity according to His word. However, that may not be the case and Peterson may continue to move against the seller with legal actions and seek liquidated damages to uphold his contract.
“In every contract there is an...