Contract Law and Ethics Case Study

Document Type:Case Study

Subject Area:Law

Document 1

After sales, a dispute came up with Vassilkovska trying to sue Woodfield in court due to misleading terms in the finance agreement they had. His efforts to sue Woodfield in a state court didn’t succeed after they found out that they had an arbitration agreement with Woodfield which means they would solve the case outside the court. As a matter of fact, the arbitration agreement was done in favor of Woodfield which means that there was no ground under which Vassilkovska would sue Woodfield but Woodfield would sue Vassilkovska. During the making of the arbitration agreement, Wood field can be said to have tricked Vassilkovska so that all what she promised would be for favoring Woodfield while Woodfield didn’t make any promise to her which means that the arbitration was one-sided.

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This case is an example of one among the many issues that can affect contracts between buyers and sellers. Woodfield also pointed out that he could file a case against Vassilkovska under certain circumstances. This acted as a way of withdrawing from the agreement. The second issue is the misrepresentation of the price by Woodfield which makes the transaction fraudulent. Rules In the formulation of contracts that can later be presented in court for enforcement in case of any disagreements, five things must be considered to make it valid. These follow a procedure that includes giving an offer by one party, accepting the officer by the other party, reviewing the considerations in the offer for the both parties, determining the capacity of both parties getting into a contract and finally making the contract legal.

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