Contract of Sale Issues - Essay Example

There is a contract that exists between Standard Storage Company and Tri-county Investment Corporation for the transaction of the sale of the mentioned warehouse. The contract is quite clear in all its elements and further mentions clearly that there is a lot of silence about the office furniture. Therefore, any disagreement should never arise on whether office furniture is included in the sale as the contract goes ahead to mention that the document, which is the contract itself, supersedes any agreement made before or after the contract of sale. Hence, all the emails that the parties exchanged regarding the mention of the furniture as part of the sale are declared null and void, as this is not stated in the binding document that is the contract of sale. The contract of sale of goods demands that there be a detailed description of the goods or property being sold, their serial number, and any other data applications. Therefore, the seller is obligated to ensure that the goods or property they are selling is free from liens claims, encumbrances, or restrictions (Jentz, Clarkson, Miller, and Cross, 46).

In a contract to sell, the must exist following requisites to enable its execution. There must be an agreement between the parties that one party must be willing to sell and the other willing to buy. Secondly, a consideration must exist which in our case is the price consideration hence the price of the goods or the properties must be well stated. Of course, it is a common phenomenon that the parties willing to engage in the contract to the sale must have the required contractual capacity hence competence to enter the agreement. The purpose of the contract must be legal hence the ability to pass the test of the law in case of any disagreement and the apparent consent of both parties must be genuine and not a pretense. Finally, the agreement must be in whatever form as required by law. If the above contract to sale satisfies all the stated requisites then it will be said to be valid and enforceable by law and hence should be undertaken since it is a binding agreement (Jentz, Clarkson, Miller, and Cross, 54-68).

The contract to sale in the second case between the two companies that now indicates that the furniture is part of the sale makes the furniture part of the sale but the bit that does not specify the consideration renders the contract voidable (Jentz, Clarkson, Miller, and Cross, 83). Hence, unenforceable until interpreted by the courts to give the intent and its effects to the parties as expressed in the agreement. The courts in their ruling of the matter will ascertain intent through the words used by the parties in the agreement, their actions, and the circumstances surrounding the agreement.