Legal Environment of Business Essay Example | Topics and Well Written Essays - 250 words - 2

Legal Environment of Business - Essay Example In the agreement, they had also agreed that the amount ordered was subject to market forces. From this, their evidence was admissible. Oral contracts are enforceable in law as noted by Morgan, Shedd and (Coley 790). They explain that oral contracts are valid and therefore legally binding. Morgan, Shedd and Coley (783) however, point that oral contracts are not enforceable in some jurisdiction like in the sale of land. Morgan, Shedd and Coley (798) assert that if a sale contract that lacks a delivery date is enforceable in law. In the case where a plaintiff brings a case against the defendant though the sale contract is enforceable in law, the plaintiff cannot be awarded damages since the other part of the contract was not written while it has to be enforced together. In the where goods were stolen at the merchant’s store, Amy bears the responsibility of loss of the goods since they had not transferred ownership of the goods to Tex but was holding in trust for Amy (Morgan, Shedd and Coley 893). Slacks, Inc is not liable for the defective tacks since the made a contract with the boutique to either sell them or return them. Failure to return the tanks means that the boutique is supposed to pay for them. Sandra is entitled to revoke her acceptance since on buying the Nissan, Rocky Mountain Nissian must be aware that in sale or return, the seller delivers the goods to buyer with the knowledge that the buyer can set aside the deal by returning the goods (Morgan, Shedd and Coley 893). In the contract Sandra can return the Nissan. Summer is liable since even cannot get transfer goods for they do not have ownership. Smith could recover since the boat must have been in that condition at sale at Stewart must have known of this