Elements Of Contract Essay

1205 words - 5 pages

A contract is a legally binding exchange of promises or agreement between parties that the law enforce. It does not prescribe the rights and obligations of the parties. A contract does not need to be in writing to be enforceable. We will evaluate the offer, acceptance, and legal consideration.
A written contract clearly communicates the details of the deal in writing. Also it eliminates doubt that it exists which is what has to proven in a verbal contract. Written contracts can come in the form of proposals, invoices and warranties.
Contracts are entered into daily by individuals and companies that are providing goods and services. Being in Healthcare service industries, companies bid on hospital RFP’s (Request for Proposal for support services. The company I am contracted with entered into an agreement to provide food and environmental services to a Healthcare company for more than $600 million. This contract covers over 100 hospitals throughout 25 states and will be rolled out over the next 24 months. Companies I’ve worked for have a boiler plate contract that they submit with additional detail required the specs of the RFP. According to Nolo.com, “the term “boiler plate” refers to standardized language in contracts.” Boiler plates affect how disputes are resolved and how contracts are enforced. There are some common boilerplate provisions for contracts such as arbitration, jurisdiction, and waivers to name a few.
Contracts are negotiated between business and unions. U.S. Newswire reported, “Our dedicated members work hard everyday, servicing hundreds of hotel patron while battling the elements year-round. They have the right to a new contract and deserve to be treated with dignity and respect.” In this case, an offer was made and the other party rejected the offer. Once an offer is rejected it is no longer available. David R. Koepsell (2000) raises the question, “where are contracts negotiated when they are negotiated in cyberspace?”
When I decided to attend Ashford University, I signed an agreement to pay for classes. We will examine the elements of the contract by analyzing the offer, acceptance, and legal consideration. Over 24 month ago, I received a verbal job offer to relocate to Atlanta Ga. The initial offer was not a good offer for my family and I, so I rejected it and presented a counteroffer. A counteroffer an offer made in response to a previous offer by the other party during negotiations for a final contract.
An offer sets the terms and conditions of the contract. One of the most important features of a contract is the offer. This is where one party makes an offer and the other person accepts. While in High School, I was offered a college scholarship to play football. The coach made me an offer that would provide me an opportunity to play football and receive my degree. The scholarship was worth more than $100k which includes room and board, meals and fees. After the...

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