Foodmart Inc

In: Business and Management

Submitted By ttrex713
Words 926
Pages 4
Business Law
BUS 415
Caroline Youngblade
November 28, 2011

Foodmart, Inc. Paper
Introduction
Contracts are a legal binding agreement entered into by two parties with the intention of creating a legal obligation. Team C will review each scenario, summarize the legal aspects, and identify the implications of the contracts in each scenario.
Scenario One From the sound of this, Foodmart had a valid contract with Masterpiece for the renovation of the store on Main Street. Foodmart had an express contract, an agreement in written form, that Masterpiece had 6 months to ensure the renovation (Cheeseman, 2010). The specifics that are necessary to know are if Foodmart had any clauses in the contract preventing Masterpiece from subcontracting other work and if Masterpiece had to hold work done to a certain standard. The article mentions that Foodmart has noticed the poor quality of work being completed and passed for acceptable. Masterpiece is ultimately responsible for the final product and if the quality is not acceptable by the 6 month deadline, Masterpiece is at fault. Masterpiece does not have the authority to change the terms of this contract based on new contracts. By agreeing to this, Masterpiece agrees that the deadline is reasonable and any new contracts signed should already take this into consideration. Masterpiece can try to rule this as an unconscionable contract, a contract that courts refuse to enforce in part or in whole because it is so oppressive or manifestly unfair as to be unjust (Cheeseman, 2010). Masterpiece must prove the parties possessed severely unequal bargaining power, the dominant party unreasonably used its unequal bargaining power to obtain oppressive or manifestly unfair contract terms, and the adhering party had no reasonable alternative. Basically they must prove that Foodmart had unjustly formed the contract and…...

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