What Is A Contract?

Duration: 11

Genre: Educational

Creator: Coronet Instructional Films

Format: 16mm

Color: Color

Sound: sound

Description: Answer this question with typical transactions from the world of commerce. When two youngsters take summer jobs with Mr. Bailey they decide that they will buy the things they've always wanted with their potential earnings, only to find that they are jobless, Two boys learn about contracts when they get summer jobs and buy a second-hand automobile on time. Shows how a contract must have mutual assent of all parties, competent parties, a legal bargain, and consideration. Discusses oral and written contracts and emphasizes the importance of understanding every detail of a contract before agreeing to it.

Complete Record: Answer this question with typical transactions from the world of commerce. When two youngsters take summer jobs with Mr. Bailey they decide that they will buy the things they've always wanted with their potential earnings, only to find that they are jobless, Two boys learn about contracts when they get summer jobs and buy a second-hand automobile on time. Shows how a contract must have mutual assent of all parties, competent parties, a legal bargain, and consideration. Discusses oral and written contracts and emphasizes the importance of understanding every detail of a contract before agreeing to it.NOTE: Two (or more) records have been merged together to create this data.