Question

Please describe a contractual relationship that you, or someone you know, entered into that was out of your (or that person's) ordinary daily routine, why it was entered into, and what the result was. In hindsight, were there things that you (or the other person) would have done differently in executing the agreement? Please also be sure to respond to two classmates regarding their posts per the Discussion Board policy listed in the Syllabus and as outlined in Rubrics and Course Activities within the Course Information folder.

Answer 1

A contractual relationship that I entered into as a part of my ordinary daily routine was when I went to the nearby market and bought fruits and vegetables from a vendor. I bought fruits like apples, bananas, mangoes and vegetables like carrots, potatoes, pumpkin. I paid the vendor, took my supplies and left the marketplace. This is a contract as it involves an offer by the vendor to sell the fruits and vegetables at a price and my acceptance to buy those fruits and vegetables at that price. The price agreed upon is the consideration. I and the vendor have the legal capacity and competency to enter into the contract being of sound mind and being adults.

In hindsight the thing that I would have done differently with regards to the above contract is that I would have asked for a receipt or an invoice from the vendor. This would have given me a right to exchange ant fruit or vegetable that has some defect like being rotten or being infested by a worm etc. Having an invoice will help me prove to the vendor that a fruit sold by him was rotten and hence he is liable to either exchange that for a good fruit or refund my money.