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Essay / Research Paper Abstract
This is a 6 page paper that provides an overview of contract law. The matter of the enforceability of verbal agreements is explored. Bibliography lists 2 sources.
Page Count:
6 pages (~225 words per page)
File: KW60_KFallan1.doc
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Unformatted sample text from the term paper:
everyday life somewhat problematic. First and foremost is the fact that contract law is, obviously, built around the premise that agreements will involve contracts, carefully worded legally binding documents which
objectively state the terms and obligations of a mutual agreement. This is all well and good for those agreements which are typically arranged by contract such as large purchases (the
purchase of a car, for instance, or a house or business); generally these purchases are carried out by contract and there is very little legal ambiguity involved. In the real
world, however, matters are seldom so black and white. Individuals routinely enter into small agreements with those around them on a daily basis, and more often than not, simple verbal
agreements take the place of formal legally binding contracts. This is where matters get tricky. Contract law is such that some of these verbal "promises" are as legally binding as
contracts, whereas others have no legal enforceability at all. Distinguishing between them generally requires a knowledge of the specificity of contract law that the common person often does not possess.
For this reason, it is important for individuals entering into verbal agreements to be fully aware of where their responsibilities and liabilities exist, and what legal force they have.
This section of the paper helps the student examine the issue through a hypothetical scenario. In order to examine this issue in detail, one might make use of an instructive
hypothetical scenario. Looking at a day in the life of an average university student, Allan, one might develop a better understanding of how often verbal agreements can enter into everyday
life, and the kinds of legal confusion they have the capacity to breed. Allan is a university graduate who is in the process of travelling to Kuala Lumpur in order
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