Match the Vocab terms.
Read the scenarios determine if there is a valid contract. Then write a short response explaining by or why not.
No notes, No group work
Please see me with any questions, Good Luck
You recently celebrated your 18th birthday. A couple years ago, your dad promised to pay you $ 1,000 when you turned 18. When your birthday finally rolled around, he refused to give you the money because you have been very rebellious during recent months and your grades have declined. He even had the nerve to accuse you of doing drugs! You have been hanging out with a pretty wild crowd, but your dad never said you had to be a straight "A" student to get the money. You saw an episode of Ally McBeal that gave you an idea about how to get the cash out of your pop. You threatened to sue him for the money because he entered into an "oral contract", which is valid in NJ, and promised to pay you $1 ,000 on your 18th birthday.
Explain why or why not
Match the term to the definition.
| Draggable item | arrow_right_alt | Corresponding Item |
|---|---|---|
Breach | arrow_right_alt | A specific proposal with the intention of concluding an agreement. |
Unconscionable | arrow_right_alt | An agreement to accept the terms of a contract and be bound by them. |
Performance | arrow_right_alt | something of value given in exchange for something else |
Restitution | arrow_right_alt | The act of fulfilling the terms of a contract |
Expectation Damages | arrow_right_alt | a violation in the performance of a term or duty as part of a contract |
Duty to Mitigate | arrow_right_alt | an agreement that is so one-sided that it is unfair to enforce the terms of the contract. |
Acceptance | arrow_right_alt | Damages that make the other party whole as if the contract had been completed. |
Implied Consent | arrow_right_alt | Request the Court to cancel a contract. |
Specific Performance | arrow_right_alt | Giving up gains unlawfully received, returning a party to their original position. |
Offer | arrow_right_alt | Ask a party to perform exactly to the terms of the contract. |
Rescission | arrow_right_alt | A parties' obligation to limit harm to themselves or others. |
Consideration | arrow_right_alt | Agreement to a contract that can be confirmed by a person's actions |
Is this a valid contract
Party A: Jane Smith, an independent graphic designer.
Party B: XYZ Tech Ltd., a technology company specializing in mobile applications.
Date of Agreement: January 15, 2024
Scope of Work:
Jane Smith (Party A) agrees to design a new logo and create a branding package for XYZ Tech Ltd. (Party B). The branding package includes:
A new company logo.
Business card design.
Letterhead design.
Social media profile graphics.
Payment Terms:
XYZ Tech Ltd. agrees to pay Jane Smith $5,000 for the entire branding package, with the following payment schedule:
$2,500 upon signing the contract.
$2,500 upon delivery of the final branding package.
Delivery Schedule:
Initial logo concepts to be delivered by February 15, 2024.
Final branding package to be delivered by March 15, 2024.
Additional Clauses:
Any revisions beyond three rounds will incur an additional fee of $100 per revision.
Party A retains the right to showcase the work in their portfolio after the final delivery.
Either party can terminate the contract with a written notice of 14 days. If terminated, Party B agrees to pay for the work completed up to the termination date.
Jane Smith delivered the initial logo concepts on February 15, 2024. XYZ Tech Ltd. approved the concepts but did not make the second payment of $2,500 as scheduled. Jane continued working on the project, despite not receiving the second payment, and completed the entire branding package by March 15, 2024. XYZ Tech Ltd. is now refusing to make any further payments, citing dissatisfaction with the final designs and claiming the work was delivered late, even though it was not.
Did Party A fulfill their obligations as outlined in the contract? Explain
Did Party B breach the contract by failing to make the second payment as scheduled? Can Party A take any action because of this?
Did Party B take any action that shows acceptance of the initial concepts? Explain.
Neither party issued a termination notice. Does this affect the enforceability of the contract?
Did Party B request revisions beyond the initial three rounds, and were these additional fees addressed?
Is this contract enforceable?