please write an essay on the question. no book needed 3 ESSAY Cody signs and ret

Question

please write an essay on the question.
no book needed

3 ESSAY Cody signs and returns a letter from Dora, referring to her sale of the BLACK ACRE and its price. When Cody attempts to complete the deal, Dora refuses, claiming that they have no contract. Cody claims they do. What standard determines whether these parties have a contract? (Apply the facts to all elements of contract) In addition define a Statute of Frauds, comment on the applicability of the Statute of Frauds and whether or not the transaction satisfies the requirement. 1.

Explanation / Answer

We can consider the following standards to determine if the parties have a contract :
> Contract should be legalised when a party makes offer and other party accepts it.
> In daily business, offer and acceptance could become complicated. When someone makes an offer, other party needs some more time to decide , delaying due to some reasons or a better offer from somewhere else.
> To minimize these confusions, some factors should be taken care of first.
> When the contract is expiring , talks and discussions should be made before if there is no "expiry date", there has to be some "reasonable time" when the contract expires.
> If a counteroffer is made, the legal measures would be shift to the originally accepted offer or contract.

Statute of frauds - Some contracts have to be in writing to force the transaction, and if somone guarantees the debt of another person , then the guarantee can be forced legally even when there is no writing.
Categories of contracts :
> land sale
> goods ( $500 + )
> marriage consideration
> contracts that cannot finish in a year though contract is of one year
> suretyship
> when an estate executor pay debts personally

Yes, Statute of Fraud states that any receipt/writing or cheque regarding the contract which gives evidence of the contract qualify as an evidence to enforce the contract when a party denies the contract. So, yes the transaction in the given scenario satisifies the requirements.

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