BUSI 561 – Spring D
Emerald Jones I would continue doing business with Marshall as long as we come to an agreement on a new contract. This understanding will provide us clarity on this partnership we are going to continue to have while doing business. Marshall is a good person and I would like to see his company continue to flourish as well as his spirituality. However if Marshall does not agree with the terms of a new contract business between us will cease. There are risks involved with discontinuing business with Marshall as he may file a lawsuit against me for various reasons. If it comes to that some legal defense I may have include; covenants of good faith, minor’s capacity to contract and fraud in the …show more content…
v. Blue Mountain Wallcoverings per Martin & Meadows, “the court regarded the agreement as a requirements contract, which section 2-306 validated because the agreement called for a quantity measured by the buyers historic purchases from the manufacturers predecessor and the buyers ongoing good-faith requirements of products” (Martin, & Meadows, 2008). Prior to the contract being given by Marshall he and I had a verbal agreement on terms of our business with one another. With this being acknowledged the court could reject my statutes of fraud defense. This also ties into implied contracts as defined by Kubasek as “a contract that is established by the conduct of a party rather than by the party’s written or spoken words” (Kubasek, Brennan & Browne, p 782, 2015). Prior to finding out about the contract Marshall and I did have a verbal agreement in place and we conducted as such.
Lastly I believe promissory estoppel damages could be a legal action Marshall takes against my business. As stated by Mary Becker in Hostra Law Review, “with the expansion of promissory estoppel to commercial settings, some commentators argue that expectation damages are, or should be, generally available in commercial cases” (Becker, 1987). Marshall may try to seek damages if I try to stop doing business with him. By no longer doing business with Marshall that could cause a substantial downfall in his company’s annual income and clientele base.
From a spiritual