Legal environment of business - Essay Example

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Legal environment of business

The objective test applies the basic precepts of contract law and determines if there is a contract through the reasonable person test, i.e. if the reasonable person believed that there was a contract then a contract is applicable. The elements of a valid sale of goods contract are simply the offer of a good for sale at a given price by a merchant, the acceptance by the buyer, consideration and intention.In some cases the objective test will not apply under the UCC, this is in the case where the reasonable person cannot identify the real intention behind the offer and acceptance of goods. A prime is example is an in-house joke between well acquainted parties to offer and accept goods that are ridiculous to their purposes. In this case there is no unapparent contrary intention; therefore the subjective test would not apply. The only applicable use is that if the objective test determining there was a contract, without examining the mistake of the telegram office in transmitting the price. The issue in this problem question is surrounding the Sales of Goods, which is wholly governed by the UCC if enacted by Californian State Law. In the case of California this is the case because it can be found in the Californian Commercial Code in Division 2 ss 2101 to 2801. . Therefore the common law would not apply in this situation; rather one has to apply the UCC and the resulting case law that has applied the UCC ...Show more

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The objective test applies the basic precepts of contract law and determines if there is a contract through the reasonable person test, i.e. if the reasonable person believed that there was a contract then a contract is applicable. …
Author : qreynolds
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