harry and tom breach of contract tom key points brief: harry and tom train collector friends tom...

Harry and Tom Breach of ContractHarry and Tom Breach of Contract

• Tom key points brief:

• Harry and Tom train collector friends

• Tom promised Harry he would be the one to buy his train collection

• Tom retires and sells train collection to David

• Tom is sued by Harry for breach of contract

• Harry case points brief:

• Harry was promised a train collection

• Harry barrowed money to buy collection

• Harry spent money and time building a room

• Harry sues Tom for promissory stopple

Harry and Tom (Breach of Contract) Harry and Tom (Breach of Contract)

• Case Verdict: Who wins?

• In order to argue breach of contract you need a valid written contract.

• The statement was made more then a year ago and under the statue of fraud, you must convert an oral statement/contract into a written contract or its not valid.

Harry and Tom (Promissory Estoppels)Harry and Tom (Promissory Estoppels)

• Harry can argue quasi-contract

• Tom didn’t withdrawal/revoked his offer after knowing Harry was barrowing funds

• However what reasonable person builds such a large room before actually buying the trains

–Tom wins

Grocery, Inc (Jason Grocery, Inc (Jason

• Case Brief:• Jason ships peaches from

his orchard to Grocery Inc• Shipped peaches using an

independent contractor• Truck brakes down and

shipment is 3 days late• Shipment is damaged

• Case brief:• Contract terms are F.O.B

Free on Board

Grocery, Inc (Jason) VerdictGrocery, Inc (Jason) Verdict

• Case Verdict: Who bears the risk?

QUESTIONS?QUESTIONS?

REFERENCES:http://definitions.uslegal.com/c/contracts-fobMelvin, S. (2012). The legal environment of business: A managerial approach. 1 ed., . New York, New York: McGraw-Hill/Irwin.