Learning Activity W5 Instructions · · Include in-text citations and a Reference List for in-text citations The GC owners have questions and need clarification about several contract concepts and issues

Learning   Activity W5 Instructions · · Include in-text citations and a Reference   List for in-text citations The GC owners have questions and need   clarification about several contract concepts and issues related to their new   business.  Specifically, they have questions about: · Statute of Frauds “writing requirement” · Discharge of a contract · Satisfaction of contract performance Winne and Ralph have asked you to prepare   examples and explanations of these 3 areas of contract law. To respond to the GC groups questions and   concerns, create facts scenarios and explanations to discuss with the GC   owners. Generally,   contracts for the sale of goods must be in writing, and the writing must be   signed by the parties to the agreement,  and the parties must be   sufficiently identified.  GC will be selling goods via the internet; the   owners are wondering whether these electronic contracts are valid and   enforceable. There are several   reasons for which a contract can be discharged before performance under the   agreement.    Under common law and the UCC (Uniform Commercial   Code, Section 2-615), a contract may possibly be discharged because of   commercial impracticability when performance could be completed only with   extreme difficulty, or at unreasonable expense, or would have little   practical value.  Courts are relatively flexible on this matter. Some businesses   advertise, “Satisfaction guaranteed or your money back”.   A   performance satisfaction clause in a contract can mean that one party does   not have to pay or perform his or her duties under the contract unless fully   satisfied with the other party’s performance.  Courts typically apply an   objective, reasonable standard to resolve disputes arising from contracts   with satisfaction clauses. Fully explain and support conclusions. Create scenarios and explanations in   paragraph format. Number each section.

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