Question

Instructions: Answer each of the following questions in 10 sentences or less. Type and label your answers. Use the IRAC format. A) Do the following contracts need to be in writing to be enforceable? Explain why or why not.

PS: HAS TO BE IN IRAC FORMAT!

1. An agreement of sale for a piece of real estate for a corporation to build a new warehouse for $1,000,000.

2. A contract for consulting services for $80,000 over the next 11 months.

Answer 1

A) Do the following contracts need to be in writing to be enforceable? Explain why or why not.

1. An agreement of sale for a piece of real estate for a corporation to build a new warehouse for $1,000,000.

Yes this should be in writing for being enforceable in front of the law. An agreement for sale which is a contractual property agreement formed between the buyer and the seller to sell a particular property under certain agreed upon conditions and price. For this being enforceable in the future or referred to in case of any noncompliance of the terms, the same should be in writing and not an oral as the same would lack evidence.

And this is one such document which would have the clauses included both by the buyer and the seller and would be duly signed by both of them.

2. A contract for consulting services for $80,000 over the next 11 months.

Yes this also should be writing so as to be enforceable before the law. Any contract formed between two or more parties would have their own terms and conditions to be fulfilled. This would include clauses that are to be complied by not just one party but both of them. Non adherence to this clauses or terms would have to be reported to and taken action upon for which there should not just be an oral agreement but a duly signed one. This would also include a consideration which should be paid and the contract for a limited time which would need to be either renewed or would be automatically terminated and thereby releasing both the parties legally from abiding with the contract.