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Ch 13 Discussion

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Q Marti, the owner of an expensive sports car, agreed in writing to sell the car to Berini. Because both parties recognized that some necessary engine repairs were needed, their contract did not specify the sales price, intending to determine the cost of repairs first. The cost of repairs was later determined and the final price settled, but the price was never included in the contract. Is this an enforceable contract? Think about how 'definite' is this? Are the rights and duties 'clearly' spelled out? Do the parties 'understand' what they have to do? Please reference, page 205 on memorandum

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I think that this is a clear case of Contract Essentials. This is because of the aspect that one has to understand in this situation whether this is a valid contract or not. Therefore, the terms and conditions of a valid contract must be considered. In this case, the most important consideration of a valid contract would be whether or not there has been a legally-sufficient value mentioned in the contract by the individual who promised to provide the receiver of the contract with the promised product. In this case, there was no mentioning of the sales price of the sports car which had been planned and promised to be sold to Berini by Marti (Liuzzo & Bonnice, 2016).