Contract Analysis Business Law Busi 561 B21 Essay

Contract Analysis Amanda Phelps-Dammann Business Law BUSI 561-B21 Liberty University September 18, 2016 Contract Analysis A contract is defined as, â€Å"a legally enforceable exchange of promises or an exchange of a promise for an act that assures that parties to the agreement that their promises will be enforceable (Kubasek 2015).† Contracts are essential for businesses to conduct business with one another. Before delving too far into the Muscadine grape case, it is also important to note that a sale is the, â€Å"passing of title to goods from buyer to seller for a price (Kubasek 2015)† and that a good is considered, â€Å"tangible personal property (Kubasek 2015).† Muscadine grapes and their by-products are the goods in question. When considering any legal case it is important to first consider the facts and the issues that are being considered. In this case, there are several important issues to note. The initial issues is that a contract was signed by a minor acting on behalf of the company and not by a specified owner of the company. The question here is if this contract is legally binding and what recourse of actions the parties may have. The first step would be to consider the legality of the contract. In order for a contract to be legal it has to possess several important criteria. Contracts have to be communicated to the parties it effects clearly. (Kubasek 2015). In this case, the contract was not communicated at all to the owners of Muscadine grapes and it was also not