¶ … contract is "a set of legally enforceable promises," (p. 304). From this simple definition, it would seem that a verbal contract did indeed exist between the two parties in question. Jacob did tell Henry he would be receiving an extra week of vacation. The form of the contract might be verbal, and the contract might indeed by informal and simple. However, there is a legal contract in this case even if injustice cannot be established. The courts would unfortunately have a difficult time establishing willful breach, although it is possible that Henry would be able to secure his extra week of vacation.
There are four cornerstones of contract law. The four elements of contract include the agreement, the consideration, the contractual capacity, and the legal object (p. 304). The agreement is the offer, which in this case is Jacob's offer to grant Henry an extra week of vacation. This case illustrates a unilateral contract, in which Jacob is offering to give something to Henry. Henry's agreement is the acceptance of that offer: which is the extra week of vacation. In this case, there is a consideration -- a promise to do something for Henry. It is not as if Jacob told Henry that he had to complete a certain amount of work in order to earn the vacation. Quite simply, Jacob told Henry that he had already earned the extra week. There is also a clear legal capacity or legal ability on the part of both Henry and Jacob. Jacob could not claim that either he or Henry were not capable of entering into the contract (such as, for instance, claiming one party was drunk at the time).
This case illustrates the condition of promissory estoppel. One party (Jacob) makes a promise knowing that the other party (Henry) will rely on it. The other party (Henry) does rely on the promise of extra vacation time. The only way for Jacob to...
Because promises are usually kept, it is usually reasonable to rely on a promise, and promises are usually relied upon. (p. 1) Despite its centrality to the human condition, the social practice of promising remains primitive and incomplete in comparison to other disciplines such as mathematics and linguistics (Mather, 1999). When it comes to the promises contained in contracts of any type, there are some general guidelines but these do
Contract law lies at the center of our legal system and serves as the basis of our whole society. Our society relies on free exchange in the marketplace at every stage. Contract law is what makes this probable. Exchanges in the marketplace always rely on voluntary agreements between people. These voluntary agreements would never if there wasn't contract law. Contract law works to make these agreements enforceable, which typically means
Contract is a legal document where two or more parties jointly agree that there will be a trade of goods and/or services through a unilateral or a bilateral exchange. An effective contract will be made up of six major elements that specify how goods and/or services will be exchanged, how the exchange will be compensated, and establish a timeframe for the exchange. It is suggested that a contract include details
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Contract Law A contract is a legally enforceable agreement that occurs between two parties in exchange of goods and services or in exchange of money. However, a contract is much more complex under the law because there are number of factors that should occur before a contract is enforceable. There should be existence of: Offer, Acceptance, Consideration, and Intention. ( Oxford Learning, 2011). To enhance a greater understanding of employment contract; the paper discusses
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