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1. In this unit we covered both common law contracts that cover events like I sell you my car (I am not in the car business) and when merchants (UCC) enter into contracts. Explain how the UCC makes it easier for merchant’s to do business. Give specific examples.2. What ethical considerations do you have when in a contractual relationship?3. Which student(s) had the best response to the discussion questions? Explain or give examples, including the student’s name(s).3. Which student(s) would you rate the lowest for the discussion? Why? Give examples and give the student names.4. POST A REPLAY FOR EACH POST
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Abraham E Sandoval
Tuesday
Nov 7 at 1:43pm
Manage Discussion Entry
The elements of a contract include the offer, which is what was
asked to be done and the how compensation that comes with it.
Then the acceptance of both parties of the offer, which hold both
parties accountable. A third element would be the consideration
which is something that has value to both parties, and doesn’t
have to be money. The fourth is obligation which is the part of the
contract which holds both parties to be obligated to perform their
parts of the agreement. It doesn’t allow for only one parties to try
and cancel the contract but both would have to agree to nullify
it.The fifth element states that both parties are capable and
culpable of performing the action or deal that was made. The
mirror image rule in a common law contract states that the
services and a payments between both parties must be equal and
mirrored. But in a UCC agreement, you can add additional terms
after the fact that would make it equal and fair. A breach of
contract is when a party involved cannot perform the terms said in
the contract or breaks a rule written. An example would be if
someone contracted a handyman to fix his toilet but then the
handyman isn’t able to fix it. A matierial breach would be if said
handyman went to fix the toilet but then shattered the tank the
water spills and damages the floor. He then could be sued for the
floor. A damage that could come because of the breach would be
compensatory whcich would be to fix anything that came as a
result of a breach. A breach that would not be acailable for
damages would be one that could ot have been foreseen or
caused by the other party such as an earthquake
Zach N Fahmi
Tuesday
Nov 7 at 3:36pm
Manage Discussion Entry
Thread 1;Elements of a Contract
Contracts are legally binding agreements between two parties
that have legal repercussions if violated.Contracts can either be
oral or written and have specific clauses that dictate the terms of
that contract. A contract can be between two independent
parties,management and employees or between customer and
business owner. In order for a contract to be legally considered a
contract there are six prerequisite elements that must be met,
1) Offer
-A contract must be offered from one party to another, usually the
principle
2)Acceptance of Offer
-Before a contract can be legally binding the acceptance of initial
offer must take place
3)Consideration
– Each party to the contract must bring something to the table in
order to make the agreement valid
4)Mutuality of Obligation
-Both parties are legally binded to honor there responsibilities in
said contract
5)Competency and Capacity
-The persons entering the contract must be held liable unless a
minor, mentally intoxicated or incapacitated
6)Writing Requirement
-Not every contract must be in writing to be legally binding but
most states require some form of writing to be valid
7)Contract Formation Under The U.C.C.
-Contracts regarding the sale of goods must fall under the legality
of the U.C.C.
Source; https://contracts.uslegal.com/elements-of-a-contract/
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Quang K Nguyen
Quang K Nguyen
Wednesday
Nov 8 at 2:21pm
Manage Discussion Entry
1. The elements of a contract are offer, acceptance,
consideration, for legal purposes and parties involved must have
capacity to make a contract.
2. The mirror image rule when forming a contract is the
acceptance must be exactly the same as the offer. The difference
on the mirror image rule between a common law contract and a
UCC contract is in the common law, the mirror image rule states
the acceptance must be exactly the same as the offer while in the
UCC, the acceptance is generally not always exactly the same as
the offer. For example, if I sell something for a certain amount to
be paid by a certain day. The buyer needs to pay me the certain
amount by that certain day in the common law. For the UCC, the
buyer does not necessarily have to pay me by the certain day.
3. A breach of contract is the act of breaking legal promises or
terms.
4. The types of damages are available in a breach of contract are
compensatory, consequential damages. The types are not
available are ethical and punitive damages.
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Julio C Hernandez
Julio C Hernandez
Wednesday
Nov 8 at 7:39pm
Manage Discussion Entry
Thread One:
1 What are the elements of a contract? Elements of a
contract are as follow: Agreement (Offer and
Acceptance).
Consideration.
Contractual Capacity.
2 Explain the mirror image rule when forming a contract. A
mirror image is the acceptance of an offer, without any
changes made to the offer. Explain the difference on the
mirror image rule between a common law contract and a
UCC contract. Importantly, in common-law contracts, the
acceptance must be amirror image of the offer to
constitute valid acceptance. This means that the
acceptance must be precisely the same as the offer. The
UCC governs contracts involving the sale of goods with
a price of five hundred dollars or more and in contracts
between merchants. Ucc contracts are more flexible.
3 What is a breach of contract. A breach of contract is the
nonperformance of the contractual duty. Give
examples. My high school football coach was fired for a
breach of contract. He was supplying certain students
PEDS, and was going around middle schools scouting
kids to join or high school football team. He was fired
because under his contract it stated he had to perform
and do what is best for the students, and he was not
allowed to poach students from different districts.
4 What type of damages are available in a breach of contract?
monetary, compensatory, and consequential damages,
Nominal damages, Liquidated damages
What type are not? Punitive damages.
James M Hill
Wednesday
Nov 8 at 7:53pm
Manage Discussion Entry
Thread One:
1 What are the elements of a contract?
The elements of a contract are Agreement (Offer and
Acceptance), Consideration (Bargained for exchange of acts of
promises) and Contractual Capacity ( Adults of sound mind).
2
Explain the mirror image rule when forming a contract.
Explain the difference on the mirror image rule between
a common law contract and a UCC contract.
The Mirror Image rule in Common Law means that the Offeree’s
acceptance must match the Offeror’s offer exactly. The book
gives us the scooter example- I offer to sell my scooter to you for
$400 and you agree to buy it for $400.
Under the UCC the offer and acceptance do not have to be
identical. Many merchants find the need to negotiate terms and as
long as they both agree and follow the rules below the additional
term will become part of the contract. The UCC flexibility allows
merchants to from contracts without adhering to the Common Law
Mirror Image rule
UCC 2-207 provides:
(1) A definite and seasonable expression of acceptance or a
written confirmation which is sent within a reasonable time
operates as an acceptance even though it states terms additional
to or different from those offered or agreed upon, unless
acceptance is expressly made conditional on assent to the
additional or different terms.
(2) The additional terms are to be construed as proposals for
addition to the contract. contract. Between merchants such terms
become part of the contract unless:
(a) the offer expressly limits acceptance to the terms of the offer;
(b) they materially alter it; or
(c) notification of objection to them has already been given or is
given within a reasonable time after notice of them is received.
3 What is a breach of contract? Give examples.
A breach of contract is the failure to perform any of the terms
outlined in the contract without a legitimate defense. There are
material breaches and minor breaches. Material breach is when
the party has not performed substantially under the terms of the
contract. A Minor breach is when the party has substantially
performed but not strictly meaning they missed smaller details in
the terms but acted in good faith.
An example of a Minor breach would if I dropped my car off at the
mechanic for an oil change and instead of using 5w-20 oil weight
they used 5w-10. The different weights are not substantial enough
to make my car stop working.
An example of a Material breach would be if I dropped my car off
at the mechanic for an oil change and instead of putting oil in my
engine they used transmission fluid and ruined my car.
4 What type of damages are available in a breach of
contract? What type are not?
Assuming the breach of contract is able to stand up against
several defenses- damages are usually monetary but may include
compensatory damages: either consequential or expectation, and
liquidation damages.
Punitive and Nominal damages are not available for breach of
contract- these damages are used mostly in tort cases.

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