Contracts
Introduction
Contracts are all around us in the world today. Whether a contract is written or oral, they exist and are enforced or recognized by the law. In the civil law, contracts are considered to be part of the general law of obligations. This is an informative paper that will discuss contracts; the contract between Dave Chappelle and his ex-manager, Abuelhiha; whether or not the contract was breached; and the remedies the ex-manager is seeking.
Contract Overview
A Contract is a promise or an agreement to either provide or receive a particular service or product. For a contract to be valid, it must meet the following criteria: mutual agreement, consideration, competency, proper subject matter, mutual right to remedy, and mutual obligation to perform.
Mutual agreement - there must be an express or implied agreement. The essential requirement is that there must be evidence that the involved parties reached an agreement on a service or product and a contract will be formed when the parties have met such a requirement. Within the contract, in must contain the objective manifestation which means that one need not actually have assented so long as a reasonable person would believe that assent had been granted. For a contract based on offer and acceptance to be enforced, the terms must be capable of determination in a way that it is clear that the parties' assent was given to the same terms.
Consideration - there must be consideration given by all the parties. This means that every party, upon gaining the benefit, must also have some sort of recognizable disadvantage. The ...