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Elements of a Contract (Example)

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Analysis and Enforcement of Non-competition agreements Student name Professor Course Date Elements of a Contract Contracts are basically lawful agreements between two parties who are legible to enter into contracts by law. They are the basis of any business operational framework. Contracts are always binding agreements in law as the law requires that they get enforced upon the parties involved. Both parties to the contract are obligated to adhere to the terms and requirements of the signed contracts failure to which litigation process is taken against the party which fails to meet the terms of the contract.Analyze elements of a contract that must be existent for the above statement to be enforceable The statement above is an agreement between the employer and the employee before commencing work and are referred to as Non-competition agreements. They are mainly beneficial to employers to restrict employees from working applying their acquired knowledge to compete with the employer in similar business the employee should receive some consideration in exchange for their agreement. Courts find these agreements unenforceable when they lack this vital element in a contract. Restricting competition for long: Courts may also find the non-compete agreements unenforceable when the period restricted is too long. The general rule on restricted competition is that the period should be reasonable. An agreement restricting competition for life is considered unreasonable thus unenforceable. References D'Agostino  E. & Lisciandra  M. (2012). Enforceable vs. Non-Enforceable Contracts: A Theoretical Appraisal with Fair Players.SSRN Electronic Journal. doi:10.2139/ssrn.2153113 Kennedy  C. H. (2009). Making Enforceable Online Contracts.Computer Law Review International 10(2). doi:10.9785/ovs-cri-2009-38 Marson  J. (2015). 6. Essential Features of a Valid Contract 1:.Business Law 111-130. doi:10.1093/he/9780198727347.003.0006 Marx  M. Singh  J. & Fleming  L. (2010). Regional Disadvantage? Non-Compete Agreements and Brain Drain.SSRN Electronic Journal. doi:10.2139/ssrn.1654719 SPIE. (2012). Non-compete agreements create 'career detours'. SPIE Professional. doi:10.1117/2.4201201.04 [...]

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Suppose that the Fabulous Hotel hires you as head chef under a two-year employment contract. After two years, another hotel wants to hire you. However, in the original employment contract you signed with the Fabulous Hotel, the following paragraph appears: “The below-signed agrees not to work as a chef for another hotel in the same metropolitan area for a period of two years after leaving our employ.” Describe and analyze the five elements of a contract that must exist for this agreement to be enforceable. Explain why this contract is governed by common law or the Uniform Commercial Code (UCC). Examine at least two circumstances in which this non-compete agreement would be unenforceable. Submit a three to four-page paper (not including title and reference pages). Your paper must be formatted according to APA style

Subject Area: Law

Document Type: Reports

This project has already been completed by one of the Studybay experts. The client rated this project:

Project's rating is 5/5

Price $20

Words 550

Pages 2

Completed in 13 days

Expert Chery B

Client Review

On time. A+ assignment.

Positive
03.27.2018

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