Business Law

In a three-page Microsoft Word Docx or rtf file format document, please respond to the following three situations.  Be thorough and complete in your responses.  Use references to support your position and cite them appropriately:

1. Has anyone ever broken a promise to you? Were those promises legally enforceable promises? Why or why not? Be sure to analyze the agreement by checking to see if all elements of contract formation were present. Remember to first determine whether the promise was one governed by the UCC or by common law.

2.  In international business, it is very common for parties entering into a  contract not to read or speak the same language. If someone sought to enter into a contract with you, but that party could not read the language in which your contract was written, should you enter into that contract with that person? How can this problem be overcome so that both parties can form a legally binding contract with each other?

3. Ivar, an infant, bought a used car, not a necessity, for $9,500. The seller took advantage of Ivar’s infancy because the car was really worth only $5,500. Can Ivar keep the car but disclaim liability for the $4,000 difference?

Your response should be typed, double-spaced in standard-sized document (8.5" x 11") with 1" margins on all sides. You should use a clear font that is highly readable. APA recommends using 12 pt. Times New Roman font. Citations should be in APA format.