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WMBA 2001 WMBA2001 WMBA/2001 WK2Assgn – A Valid Contract

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WMBA 2001 WMBA2001 WMBA/2001 WK2Assgn – A Valid Contract

A Valid Contract Business Law Courtney MacGowens Walden University

There are four elements that make up and contract: agreement, consideration, capacity, and legality. (Goldman & Sigismond, 2014). The contract in question has the element of an agreement. “An agreement is the initial step toward forming a contract” (Goldman & Sigismond, 2014).

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WMBA 2001 WMBA2001 WMBA/2001 WK2Assgn – A Valid Contract

A Valid Contract Business Law Courtney MacGowens Walden University

There are four elements that make up and contract: agreement, consideration, capacity, and legality. (Goldman & Sigismond, 2014). The contract in question has the element of an agreement. “An agreement is the initial step toward forming a contract” (Goldman & Sigismond, 2014).

The homeowner agreed to pay the construction company for their services building her a deck. Consideration, “something of value exchanged by each party to bind the agreement”, was also present in the contract. (Goldman & Sigismond, 2014)

The consideration for the homeowner to pay the agreed amount to the construction company for their services. I want to note that while the consideration aspect is present…the details are not correct. The total fee is $10,000….the agreed initial deposit is $2,000…..then the contract terms state that the balance to be paid after the deposit is $7,000.

This does not add up to $10,000. The terms go on to state that he $7,000 balance will be paid in two increments, $2,000 and $8,000. This also does not

WMBA 2001 WMBA2001 WMBA/2001 WK2Assgn – A Valid Contract

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WMBA 2001 WMBA2001 WMBA/2001 WK2Assgn – A Valid Contract

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WMBA 2001 WMBA2001 WMBA/2001 WK2Assgn – A Valid Contract

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