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INTL 705 International Business Law
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INTL 705 International Business Law
1 Download2 Pages / 284 Words
Course Code: INTL705
University: Centennial College
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Canada
Questions:
Please answer of the following questions.
1) Case 7.7 related to PepsiCo. Provide an opinion on this situation and explain using legal concepts.
2) Do you think that family members should be treated differently than other people making a contract? Explain using legal concepts.
3) Do you believe that minors or those under the influence of drugs or alcohol should be able to get out of the contracts they create? Use legal concepts to explain your answer.
Answers:
1.According to the Contract Law, a contract to be legally enforceable must be comprising of certain essential elements namely, the offer, acceptance, legal capacity of the parties to enter into the contract, lawful subject matter, consideration, and the mutuality to enter in the contracts (University of Calgary, 2018). An intention of the parties to create legally binding contracts is crucial. In the given case, the company PepsiCo., had no intention of redeeming the Pepsi points for the Harrier Jet worth $ 23000000. Hence, the intention to create a legal contract for the redemption of the Pepsi point was missing.
2.In domestic family arrangements, there is a presumption that parties do not possess an intention to create legal relationships. This is because family members enter into conversations of different kinds that do not mean they intend to create legally binding contracts for each of the discussions held.
3.Yes, I agree to the statement that minors must be able to move out of the contracts that are entered under the influence of the drugs or alcohol. This is because according to the contract law, the minors do not possess the legal capacity to create the contracts, unless done so through their guardians. In addition, capacity is an essential element for the legal enforceability of the contracts. Moreover, a person under the influence cannot be stated to be consented to the terms of the offer as a reasonable person. Hence, it can be said that in event of mental incapacity of child, the contracts are void (Duhaime.Org, 2018).
References
University of Calgary. (2018). Contracts. Retrieved from: https://www.ucalgary.ca/biztechlaw/encyclopedia/contracts#ii
Duhaime,.Org. (2018). Contracts With Children. Retrieved from: https://www.duhaime.org/LegalResources/Contracts/LawArticle-651/Contracts-With-Children.aspx
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