Adele decides to purchase several silver tea sets from Vaughn's gift store. In their sales contract, Adele and Vaughn do not specify how many silver tea sets Adele will purchase. They now have: a. a valid contract with an open price term. b. a valid output contract. c. a valid contract with an open delivery term.

Question

Business

Isaias Good

22 October, 08:31

Adele decides to purchase several silver tea sets from Vaughn's gift store. In their sales contract, Adele and Vaughn do not specify how many silver tea sets Adele will purchase. They now have: a. a valid contract with an open price term. b. a valid output contract. c. a valid contract with an open delivery term.

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Answers (1)

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Marlee · Answer 1

a. no contract at all

Explanation:

While a contract can be either written or verbal, the vast majority of contracts never get written down or accepted with a signature. Instead, accepting a contract is usually done by exchanging money for a product or service, like purchasing something from a store. But, when it comes to complex contracts that involve multiple terms and conditions, it's best to get the agreement in writing. For instance, if you're creating a Service Agreement, you must have all the basic elements of validity in place so you can successfully resolve any disputes that arise. Without a valid contract, you won't be able to enforce any of its terms (such as receiving reimbursement for work-related expenses or retaining ownership of your intellectual property). If a court or tribunal rules a contract void, it means the contract has no force or effect, so neither party is bound by it and neither party can rely on it. In this case the contract is void and that means there no contract at all.