Validity of Contracts - Assignment Example

Bill offers to sell Adam the restaurant and Adam accepted and this shows that a valid contract was cleared. Consideration of the terms of the contract also constitutes a valid contract and it can be seen that this step was taken into account in the formation of this contract. The parties involved can contract since they are mature enough to be responsible for their actions and the aspect of legality also exists in this contract and that is the reason why it became binding.

If I were Adams’ attorney, I would categorically state that the verbal agreement made between the two parties constitutes a valid contract. By a standard, it can be seen that a valid contract has been formed between Adams and Bill through the verbal agreement they entered into. Bill’s attempt to breach the contract after realizing that the restaurant has been making high profits is illegal.

Probably with little success in sight, I would try to argue on behalf of Bill that the contract should not be enforced because it was not written. Some people may argue that a verbal agreement is difficult to prove and this is the point I will base my argument on. Read More