Elements of a Contract Scenario Essay

1. Jack has to steady down whether to function an attorney. What would you advise? I would advise jack non to engage an attorney in the case. First, the concomitant that the old woman who sold the china shows signs of Alzheimer is enough to nullify the contract. A person can plainly get into contract if they are understand the terms and are considered to be competent. A person benignant in a contract should be able to understand all the ramifications, something which the old woman index not have understood (Chen-Wishart 41). Moreover, she sold the china at a truly low cost when compared to its value, and this is evidence enough that she did not understand what the chinas really value is and these might be signs of the disease.2. Was there a valid contract when Jack acquired the china for $150.00. Why or why not? Did Jacks superior knowledge prevent formation of a contract? How might the widow womans age or feasible medical condition affect contract formation on that point was a valid contract during the time of sale because the two parties agreed on the price and the honorarium was done. Nevertheless, the contract can be easily reversed on the basis that one of the parties was incapacitated to engage in any legal agreement.Initially, jack did not have knowledge on the condition of the woman, scarce this is not evidence enough for him to win the case (Cibinic et al 62). The widows age should only have been enough alarm to show him that she did not have knowledge regarding the value of the product. As a result, jack should not have taken this to his advantage and bought the china at a price which was very low. Moreover, he should have accepted the initial offer made by her daughter, since this would have been profitable for him sort of of engaging in a law suit.3. What is the likelihood that the daughters suit will fall out? State your reasons. Is contract rescission a potential remedy? Why or why not? Is an award of monetary damages an adequate remedy? Why or why not? thither is a likelihood that the daughters suit will succeed, based on the facts of the case. First, one of the parties was incapacitated to engage in a contract, and this meant that there was no recognizable contract.Moreover, the value of the chinaindicates that jack has taken the womans condition to his advantage and gave a price which was very low (Dawson 73). Contract rescission would be the possible remedy in this case, because the woman had willingly sold the china at a throw aside price, and just like any other business man jack would not have refused to purchase it. Awarding the monetary damages is however not a possible remedy because there was no criminal act entailed in the contract, and jack did not have prior knowledge of the womans condition.Works CitedChen-Wishart, Mindy. Contract rightfulness. Oxford Oxford University Press, 2012. Print. Cibinic, John, Ralph C. Nash, and James F. Nagle. Administration of Government Contracts. Washington, D C George Washington University, National Law Center, Government Contracts Program, 2006. Print. Dawson, John P. Cases on Rescission of Contracts and Restitution at Law and in Equity. Ann Arbor, Mich Brumfield & Brumfield, 1934. Print.