Question

Write 3 Paragraphs For Your Response: Given your Depth Discussion for following information Rocky Mountain Races, Inc., sponsors the "Pioneer Trail Ultramarathon," with an advertised first prize of $10,000. The rules require the competitors to run 100 miles from the floor of Blackwater Canyon to the top of Pinnacle Mountain. The rules also provide that Rocky reserves the right to change the terms of the race at any time. Monica enters the race and is declared the winner. Rocky offers her a prize of $1,000 instead of $10,000. Did Rocky and Monica have a contract? Explain.

Answer 1

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The applicable law has to do with unilateral contracts. A unilateral contract is a contract that results when an offer can be accepted only by the offeree’s performance. Based on the facts we can classify this as a Unilateral Contract, which is a "promise for an act." In this case, Rocky Mountain Races, Inc. was advertising $10,000 dollars to First Place in Competition. The Competition requires competitors to run 100 miles from Blackwater Canyon to the top of Pinnacle Mountain. The contract was formed when Monica entered the race, as opposed to when she saw the advertisement.

Generally, in situations such as this where one person enters into a competition with a company or corporation with an explicitly defined prize, this constitutes a unilateral contract. Unilateral contracts are defined by the offering of a reward for a specifically defined act, and this contract is accepted when the contractee completes the act. In this case, Rocky Mountain Races, Inc., and Monica did have a uniform contract. Furthermore, because Monica entered the race and was declared the winner, she fulfilled her end of the contract thus accepting the contract (and qualifying for the reward from the contractor). However, because Rocky Mountain Races, Inc., included a provision that they could change the terms of the race at any time, Monica isn't entitled to the $10,000 reward, she is entitled to whatever reward Rocky sees fit.

Or in other words Simply we may also term the conclusion in the way that, Yes, because competitions are considered as unilateral contracts. This kind of contract happens when “the offer is phrased so that the offeree can accept theoffer only by completing the contract performance.” Thecontract is formed when a person complies with the rules of an offer.

Alternative Answer:

Valid Contract:

The elements of a valid contract include:

1. There must be an offer and acceptance that is easily perceived as an agreement.
2. There must be legally-sufficient value in the form of something received or promised that convinced a party to the contract to make the deal.
3. The parties to the contract must have legal capacity to enter into the agreement. Capacity consists of legal age, mental competency and sobriety within reasonable awareness.
4. The goal of the contract must be to achieve a purpose that is legal under local, state and federal statutes and regulations, and public policy in general.

Each element is necessary in order to have a legally binding contract.

Unilateral Contract:

A unilateral contract is based on one party’s promise to perform. While there is more than one party to the contract, only one party has made an enforceable promise with a duty to perform.

Breach of Contract:

If one party to a contract fails to fulfill the requirements of his/her promise as stated in the contract s/he has breached the contract. In order to be successful, a plaintiff must prove the following three elements:

1. The existence of a valid contract,
2. Breach of the contract's terms,
3. Damages.

Acceptance:

Under the UCC § 2–206, and § 2A–206, an acceptance may be communicated in any reasonable method unless a specific method is stated in the offer. When a buyer sends an offer to purchase it is a unilateral contract. The offeree can accept by either shipping the goods or communicating a promise to ship the goods. The communication creates a bilateral agreement.

Under UCC § 2–207, a merchant may send a purchase order as the offeror, and the seller (offeree) may send an acceptance. If the terms are different, the contract remains valid with the new terms under the acceptance without consent of the initial offeror unless:

1. The offeror expressly gives notice to the offeree limiting acceptance to the terms of the offer.
2. The offeror gives notice to the offeree within a reasonable time rejecting the new terms.
3. The new terms materially alter the contract.

Legal Reasoning:

Person M accepted and completed the unilateral contract offered by company RMC that sponsored the race. Although company RMC included a clause reserving the right to change the terms of the race at any time, it may only change the rules before the offer has been accepted. In the case of a unilateral contract, the offeree must complete the contract before seeking the compensation offered. Once the contract has been completed, the offeree may not change the rules of the offer regardless of the language in the offer without expressly providing the offeree the change before the completion of the offer. Therefore, company RMC and person M had a legally binding unilateral contract because person M completed the terms before any change was made and was liable for the offer of $10,000.

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