Legal Environment of Business - Essay Example

A contract can be either oral or written as long as there is an agreement between the two parties. For this reason, Hoffman was bound to win because the Red owl stores violated the contract.He is entitled to complete refund because according to law a contract should e void if it involves a person who is below the age of majority. However, there are exceptions but according to these agreements the exceptions do not apply.Yes, reformation of the contract is essential, because there are legal laws that state that when there is a problem occurring during the making of a contract it is important to adjust it to match the terms agreed upon during the making of the contract.

She is bound to succeed because one of the parties involved in the contract knowingly and willfully gave wrong information hence cannot complain if the other party terminates the contract.It is an important step in making sure that there is reduced competition by the terms of a person lease in their place of work.This agreement was not enforceable because there were decision acceptance and determination of provisions during the making of the lawful contract. He had willingly agreed upon the terms and all the consequences hence the contract cannot be termed as enforceable.

This clause was valid because the representative of the bank was solemnly responsible for all the undertakings that happened during the night deposits. These consequences could either be positive or negative and there must be no exceptions.