Assessing Elements of a Valid Contract and Whether Jim and Laura entered a Valid Contract with Stan the Salesman at a Local Dealership.
In order to determine whether Jim and Laura entered a valid contract with Stan the salesman at a local car dealership, it is important to understand the meaning of a valid contract. A contract is largely defined as a legal agreement made between two or more parties or persons. In other words, it is a promise or set of promises for the breach of which the law provides a remedy and the performance of which the law recognizes as an obligation. In addition, it is important to assess whether Stan assertions that contract was made when Jim