Contract Law Assignment

Contract Law Assignment

A contract, in most instances, is defined as an oral or written agreement that is entitled to create a legal binding between individuals or two parties. It is an agreement that helps institutions, businesses, and individuals exchange services or goods enforceable by law (Bonner, 2020). This was the case between Stacy and Wood M, who entered into a buying and selling contract until the specified period. In this case, Wood M is a supplier to Stay who will use the products supplied to her in gluten-free blueberries muffins. Given that the two need the services of each other, they need to have a contract so that Stacy can secure a supply of blueberries which would like to explain how it will take place.

From the case analysis, Stacy and Wood M. need to go into a contract that will make their business succeed. Given that it is an agreement, it should have the beginning date, and the period it should take until the termination date. Stacy needs to have a contract with Wood M even though she wants to hire Wood to ensure specific terms of their agreement are fulfilled (Joseph, 2017). The contract should follow specific terms put in place between the parties. For instance, Stacy will have to buy organic blueberries from a local grower, Wood M, until the specified date of their contract. This means that the two parties will have to work based on their contract, as going against it will break the bridge of their agreement.

Simple Contract

Wood M. and Stacy will enter the contract agreement on a specified date until the individuals' termination date is agreed upon. For this case, they would be specific terms on this agreement as follows:

·         Given that this contract will take some time before being terminated, Stacy will buy organic blueberries from Wood M, a local grower, until the date of the contract end.

·         Another important term to be followed is that Stacy should always place his order on time. Placing an order in time will help Stacy meet customers' demand and help Wood M to supply blueberries at a time and specified place.

·         Wood M supplied blueberries to Stacy would need to go through quality as that will help avoid inconvenience between the two as Stacy will be satisfied with the quality.

·         To assure each party's satisfaction, they should be considered between parties in the contract; the first party convent and agreement should be that before blueberries are delivered to Stacy, some amount of money would have to be paid per order. But if there is quality comprised with the organic in the delivery of blueberries, the second party will be liable as per the contract.

·         It means that the second party in the agreement, which is Wood, should accept the amount paid per order and agree that there will be no issue with the quality of blueberries supplied to Stacy, and in case of such instance, he would be liable for breach of their signed agreement (Bonner, 2020).

·         Being an agreement between the two parties, the contract will not be modified at any point unless signed and written by both Stacy and Wood. This means that the contract shall be binding upon parties and their successor, and to remain effective, it shall be enforced under state and federal government laws.

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Signature                                                                 Signature

Printed Name                                                            Printed Name

Address                                                                     Address

Date                                                                          Date

References

Bonner, M. (2020, September 17). What is a legal contract? Retrieved April 15, 2022, from https://www.thebalancesmb.com/what-is-a-legal-contract-462462

Joseph C. (2017, November 21). What are the terms of a business contract? Retrieved April 15, 2022, from https://smallbusiness.chron.com/terms-business-contract-787.html