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Week 4 Team Reflection

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Week 4 Team Reflection
Team Reflection Week Four
LAW/421

Team Reflection Week Four
Common Contracts Encountered in Personal and Professional Life
Contracts for Services
Source of Law – State Common Law
Examples in Personal Life
Insurance
Cable / Internet
Cell Phone
Residential Cleaning Service Agreements
Examples in Professional Life
HVAC equipment maintenance
Pest Control
Elevator maintenance
Employee agreements
Confidentiality Agreements
Commercial Cleaning Service Agreements
Contracts for Real Estate
Source of Law – State Common Law
Examples in Personal Life
Apartment Lease Agreement
Mortgage Loan Agreement
Examples in Professional Life
Facility Lease Agreement
Contracts for the Sale of Goods
Source of Law – State Statutory Law based on Uniform Commercial Code
Examples in Personal Life
Car
Appliances [Destination Contracts]
Online purchases from eBay, Amazon, etc. [Shipment Contracts]
Warranties
Examples in Professional Life
Purchase orders for the products and goods used through the normal course of business operations
Produce and groceries
Liquor, beer, and wine
Novelty products for retail sale
Capital expenditure purchases of large equipment that are used for the business.
Kitchen Equipment (Grill, Refrigeration, Dishwasher)
Air Conditioning Unit
Copy or Fax Machines
Computers
Weekly Topics Related to the Common Contracts
This week we reviewed how the statute of frauds apply to common law
Contracts that involve the sale of an interest of land
Contracts that cannot be performed in under one year
Contracts to pay the debt of another (such as a loan surety)
Contracts made in consideration of marriage (such as a prenuptial)
We also discussed contract performance and the obligation of the parties to perform within the requirements or agreement of a contract. The parties agree on terms and perform the contractual obligations in good faith in order to complete the contract.
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