Linda T. Lopez
Professor Richard Rice
Offer and Acceptance Video
On Week 4 the Individual assignment consisted of viewing an Offer and Acceptance video and implementing a contract that clearly states in writing the implied terms of the contract verbally communicated in the contracts. In the video a contractual relationship between Quick Takes Video and Non-Linear Pro was established by: 1) an Offer, 2) Acceptance Offer, and a 3) Valid (legal & valuable) consideration (Offer and Acceptance Video, 2007). Although rather unorthodox many contracts are spoken or implied which is what transpired between the parties in the Offer and Acceptance video. In the video the Quick Take Video Company was experiencing technical issues with their antiquated software editing equipment. The company’s editing software was approximately over 10 years. Janet Mason a Quick Take Video employee expresses concern to Hal the company owner about replacing the current editing software with digital editing software.
Upon determining the need to upgrade the editing software Quick Takes Video invites Non-Linear Pro to discuss the options available to upgrade their current software. After some negotiating a verbal deal which entailed Non-Linear Pro presenting their equipment as excellent quality and a month later Non-Linear Pro product arrives at Quick Takes Video. Quick Takes Video believes the verbal Express Contract is for one month trial period to determine if the system with Non-Linear Pro is what the company (Quick Takes Video) is looking for. Non-Linear Pro assumes the contract lease that one of the employees signed upon receipt of the product is attempting to hold Quick Takes Video accountable for any damages to the product. There are many assumptions from both parties regarding the verbal agreement such as technical support, training, warranty terms detailing performance, and authority to execute the trial lease agreement.
Contract is voluntary, deliberate, and legally binding written or verbal agreement between two or more competent parties (Cheeseman, 2010, p. 153). In fact, essential elements are agreement, consideration, contractual capacity and lawful object (Cheeseman, 2010, p. 154). These contract elements are present in the Offer and Acceptance Video and essential for the formation of the implied contract.
During the video Hal and Jack (Non-Linear Pro) make on an oral agreement to ship and install a Non-Linear editing product on a month trial basis. Jack also expresses the high quality of the product to Hal. Both Hal and Jack come to a verbal agreement to the implied terms of the contract created in Hal’s office. According to Cheeseman (2010, p.154) to have an enforceable contract oral or written there must be an agreement between the parties which requires an offer by the offeror and acceptance of the offer by the offerce. In the video both parties agree to the verbal terms offered by Jack and accepted by Hal.
In the video under the consideration element a negotiation of the Non-Linear Pro will be installed and used on a trial basis for 30 days. The product is the bargained-for consideration for this negotiation. In other words, Quick Take Video receives a digital editing product for a 30 day trail and Non-Linear Pro is allowed to promote with an opportunity to sell its product. Contractual capacity is the legal ability to enter into a contract. In this video the two parties making the offer and acceptance are both consenting adults who can make a decision. Hal is representing Quick were competent adults who entered a contract. Hal who represents Quick Takes Video and Jack is the sales Non-Linear Pro representative both capable of making decisions for their companies. In this video the digital editing system is legitimate product that will be received by Quick Takes Video both parties are valid legal entities provide