Contract Law Case Essay Research Coursework Term Paper

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Contract Law
Introduction
Contract law entails legislation and policies that are enforced in making and enforcing agreements between two parties. Through the contract agreement, someone can file a legal suit against another party based on regulations that relate to making contracts. The court decides to ensure fairness, and all the important remedies are fulfilled as needed whenever there is proof of breach of contract from another party. It is worth noting that contract law applies to anyone who is carrying out any form of business. Customers and consumers utilize contracts whenever they are buying or selling certain products or services. These contracts include purchasing goods and services, signing employment contracts, signing up for insurance payments, among others. Through the established contracts, the transactions happen faster, and there are minimal misunderstandings. They instill a sense of confidence and safeguards each party's interests, ensuring that no one is taken advantage of. In this regard, there are clear terms that guide a particular agreement and ensures that interests are protected.[ADDIN CSL_CITATION {"citationItems":[{"id":"ITEM-1","itemData":{"ISBN":"1405846712","author":[{"dropping-particle":"","family":"Elliott","given":"Catherine","non-dropping-particle":"","parse-names":false,"suffix":""},{"dropping-particle":"","family":"Quinn","given":"Frances","non-dropping-particle":"","parse-names":false,"suffix":""}],"id":"ITEM-1","issued":{"date-parts":[["2007"]]},"publisher":"Pearson Education","title":"Contract law","type":"book"},"uris":["/documents/?uuid=b0315613-7036-4ba7-b4d3-2ed37d3242a4"]}],"mendeley":{"formattedCitation":"Catherine Elliott and Frances Quinn, Contract Law (Pearson Education 2007).","plainTextFormattedCitation":"Catherine Elliott and Frances Quinn, Contract Law (Pearson Education 2007).","previouslyFormattedCitation":"Catherine Elliott and Frances Quinn, Contract Law (Pearson Education 2007)."},"properties":{"noteIndex":1},"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"}Catherine Elliott and Frances Quinn, Contract Law (Pearson Education 2007).]
As Elliot and Quinn argued, "the most obvious way in which a contract is discharged is by both parties performing their obligations under it" (p. 308). At the same time, this is usually true in many instances. There certain cases where a party has to claim due to disagreements before the contract is closed. An example of such a case is when there is an entitlement to payment, and another party disagrees. In this regard, contract law is applied to provide proper legal measures that warrant fairness and what will amount to fairness. The paper will explain and evaluate Elliot and Quinn's claim, referencing previous decided contract-related cases using complete performance doctrine and the exceptions to it, and late performance.[ADDIN CSL_CITATION {"citationItems":[{"id":"ITEM-1","itemData":{"ISBN":"1405846712","author":[{"dropping-particle":"","family":"Elliott","given":"Catherine","non-dropping-particle":"","parse-names":false,"suffix":""},{"dropping-particle":"","family":"Quinn","given":"Frances","non-dropping-particle":"","parse-names":false,"suffix":""}],"id":"ITEM-1","issued":{"date-parts":[["2007"]]},"publisher":"Pearson Education","title":"Contract law","type":"book"},"uris":["/documents/?uuid=b0315613-7036-4ba7-b4d3-2ed37d3242a4"]}],"mendeley":{"formattedCitation":"ibid.","plainTextFormattedCitation":"ibid.","previouslyFormattedCitation":"ibid."},"properties":{"noteIndex":2},"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"}ibid.]
It is essential to acknowledge that contracts are regulated by state laws, common laws, and private law. The common law is based on previous judgments made, and private law is based on the contract agreement that the two parties signed when they exchanged promises. In this regard, private law usually overrides what the state and common law establish. For example, cases of fraud require that some of the contracts are placed in a written document for reference on the particulars. Moreover, there is a need to adhere to certain procedures when undertaking the contract to qualify under certain statutory regulations. However, there are cases where parties enter into legally binding agreements without signing a formal document. This is properly illustrated in the case of Lucy v Zehmer where the Supreme court in Virginia ruled that agreements done on pieces of napkin can still be considered valid contracts when the parties were both mentally healthy at the time of the contract. The main thing that the court looks for is proof of mutual agreement and consent to the agreement being established. In the case, Zehmer, the defendant, wrote a contract to sell land on a napkin. Lucy, who is the accused or plaintiff, tries to enforce the contract, and the defendant claims that he was only joking. However, the Supreme court ruling shows an agreement documented; it is still enforceable even when the other party seems not to intend to enter into the contract. In this regard, we can say that the court relied on the individuals' external acts without considering their intent.[ADDIN CSL_CITATION {"citationItems":[{"id":"ITEM-1","itemData":{"author":[{"dropping-particle":"","family":"Richman","given":"Barak D","non-dropping-particle":"","parse-names":false,"suffix":""},{"dropping-particle":"","family":"Schmelzer","given":"Dennis","non-dropping-particle":"","parse-names":false,"suffix":""}],"container-title":"Duke Law Journal","id":"ITEM-1","issued":{"date-parts":[["2012"]]},"page":"1511","title":"When Money Grew on Trees: The Untold Story of Lucy v. Zehmer","type":"article-journal","volume":"61"},"uris":["/documents/?uuid=47d429c4-1d13-4407-96f0-fa6f9c80c831"]}],"mendeley":{"formattedCitation":"Barak D Richman and Dennis Schmelzer, ‘When Money Grew on Trees: The Untold Story of Lucy v. Zehmer’ (2012) 61 Duke Law Journal 1511.","plainTextFormattedCitation":"Barak D Richman and Dennis Schmelzer, ‘When Money Grew on Trees: The Untold Story of Lucy v. Zehmer’ (2012) 61 Duke Law Journal 1511.","previouslyFormattedCitation":"Barak D Richman and Dennis Schmelzer, ‘When Money Grew on Trees: The Untold Story of Lucy v. Zehmer’ (2012) 61 Duke Law Journal 1511."},"properties":{"noteIndex":3},"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"}Barak D Richman and Dennis Schmelzer, ‘When Money Grew on Trees: The Untold Story of Lucy v. Zehmer’ (2012) 61 Duke Law Journal 1511.]
Based on the complete performance doctrine, the parties are required to meet all the terms and conditions outlined in the agreement concerning a personal or commercial venue. Whenever the court is making decisions regarding the ag...