Did Jim and Laura Buy a Car?Click Link Below To Buy:http://hwcampus.com/shop/did-jim-and-laura-buy-a-car/Worth 200 pointsHINT: See Chapters 10-14 of the text to help understand some of the legal issues covered in this assignment.Jim and Laura Buyer visit the local car dealership because they are interested in buying a new car. The car they currently have is aging and is starting to have mechanical problems. Jim and Laura would share the new car, and use it to go back and forth to work and school. Before going to the dealership, Jim and Laura decide that they can only afford $400.00 a month in car payments.Once at the car dealership, Jim and Laura meet Stan Salesman. Stan shows them several vehicles and Jim and Laura test-drive several of the cars. Jim and Laura particularly like the blue 4-door sedan. Therefore, they agree to give Stan Salesman a $100.00 deposit to hold the car for a day. Stan Salesman does not give them the receipt but guarantees that the $100.00 is refundable. No documents were signed. The next day, Stan Salesman calls Jim and Laura to ask them when they would like to take delivery of the car. Jim and Laura, on the way home from the dealership, decided that they were not going to buy the car because they did not want to spend that money each month. Therefore, Jim and Laura tell Stan salesman that they have decided not to buy the car and request their $100.00 deposit back.Stan insists that the $100.00 was a deposit on the car and was meant to be part of the contract to buy the car. Stan is very persistent and insistent that Jim and Laura have contracted to buy the car; therefore, the $100.00 will be applied to the purchase price of the car. Jim and Laura are shocked and angry as not only do they not want to spend the money, but now feel as though they are being duped by Stan Salesman. Jim and Laura have an appointment to see a lawyer in a few days, but know you are a student taking a business law class and come to you for advice. They are very frazzled, and understandably upset that they may have just purchased a car. Since you have been taking business law, you have read and understand the elements of a contract and the defenses to a contract. Therefore, although you are not a lawyer, you provide some basic advice from what you’ve learned in your business law class.In three to five (3-5) pages, advise Jim and Laura based on the above facts as presented, the material provided in the text, and material covered in the lecture. In your paper, be sure to address the following:1. Define the elements of a legal contract using examples from the scenario where applicable.2. Decide whether or not there was a contract for the purchase of the automobile. 3. Identify the facts from the scenario which support your decision on whether or not a contract exists for the purchase of the automobile. 4. Use at least two (2) quality academic resources in this assignment. Note:Wikipedia and other Websites do not qualify as quality academic resources.5. Format your assignment according to the following formatting requirements:• Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length.• Include a reference page. Citations and references must follow APA format. The reference page is not included in the required page length.Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.Click here for the grading rubric.Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.Points: 200 Assignment 1: Did Jim and Laura Buy a Car?Criteria UnacceptableBelow 60% F Me
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Content
Did Jim and Laura Buy a Car?
Click Link Below To Buy:
http://hwcampus.com/shop/did-jim-and-laura-buy-a-car/
Worth 200 points
HINT: See Chapters 10-14 of the text to help understand some of the legal issues covered in this
assignment.
Jim and Laura Buyer visit the local car dealership because they are interested in buying a new car.
The car they currently have is aging and is starting to have mechanical problems. Jim and Laura
would share the new car, and use it to go back and forth to work and school. Before going to the
dealership, Jim and Laura decide that they can only afford $400.00 a month in car payments.
Once at the car dealership, Jim and Laura meet Stan Salesman. Stan shows them several vehicles
and Jim and Laura test-drive several of the cars. Jim and Laura particularly like the blue 4-door
sedan. Therefore, they agree to give Stan Salesman a $100.00 deposit to hold the car for a day.
Stan Salesman does not give them the receipt but guarantees that the $100.00 is refundable. No
documents were signed.
The next day, Stan Salesman calls Jim and Laura to ask them when they would like to take delivery
of the car. Jim and Laura, on the way home from the dealership, decided that they were not going to
buy the car because they did not want to spend that money each month. Therefore, Jim and Laura
tell Stan salesman that they have decided not to buy the car and request their $100.00 deposit back.
Stan insists that the $100.00 was a deposit on the car and was meant to be part of the contract to
buy the car. Stan is very persistent and insistent that Jim and Laura have contracted to buy the car;
therefore, the $100.00 will be applied to the purchase price of the car. Jim and Laura are shocked
and angry as not only do they not want to spend the money, but now feel as though they are being
duped by Stan Salesman.
Jim and Laura have an appointment to see a lawyer in a few days, but know you are a student
taking a business law class and come to you for advice. They are very frazzled, and understandably
upset that they may have just purchased a car. Since you have been taking business law, you have
read and understand the elements of a contract and the defenses to a contract. Therefore, although
you are not a lawyer, you provide some basic advice from what you’ve learned in your business law
class.
In three to five (3-5) pages, advise Jim and Laura based on the above facts as presented, the
material provided in the text, and material covered in the lecture. In your paper, be sure to address
the following:
1.
Define the elements of a legal contract using examples from the scenario where
applicable.
2.
Decide whether or not there was a contract for the purchase of the automobile.
3.
Identify the facts from the scenario which support your decision on whether or
not a contract exists for the purchase of the automobile.
4.
Use at least two (2) quality academic resources in this
assignment. Note:Wikipedia and other Websites do not qualify as quality academic
resources.
5.
Format your assignment according to the following formatting requirements:
Typed, double spaced, using Times New Roman font (size 12), with oneinch margins on all sides.
Include a cover page containing the title of the assignment, the student’s
name, the professor’s name, the course title, and the date. The cover page is not
included in the required page length.
Include a reference page. Citations and references must follow APA format.
The reference page is not included in the required page length.
Grading for this assignment will be based on answer quality, logic / organization of the paper, and
language and writing skills, using the following rubric.
Click here for the grading rubric.
Grading for this assignment will be based on answer quality, logic / organization of the paper, and
language and writing skills, using the following rubric.
Points:
200
Assignment 1: Did Jim and Laura Buy a Car?
Meets
Criteria
Unacceptable
Minimum
Fair
Proficient
Exemplary
Below 60% F
Expectations
70-79% C
80-89% B
90-100% A
60-69% D
1. Define
Did not submit
Insufficiently
Partially
Satisfactorily
Thoroughly
the
or incompletely
defined the
defined the
defined the
defined the
element
defined the
elements of a
elements of
elements of a
elements of a
s of a
elements of a
legal contract
a legal
legal contract
legal contract
legal
contract
using
example
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the
scenario
where
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legal contract
using
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where
scenario
applicable.
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where
using examples
from the
scenario where
applicable.
using
examples from
the scenario
where
applicable.
applicable.
e.
Weight:
27%
2.
Decide
whether
or not
there
was a
contract
for the
purchase
of the
automob
ile.
Did not submit
or
incompletelyde
cided whether
or not there
was a contract
for the
purchase of the
automobile.
Insufficientlyd
ecided
whether or not
there was a
contract for
the purchase
of the
automobile.
Partiallydeci
ded whether
or not there
was a
contract for
the
purchase of
the
Thoroughlydec
Satisfactorilyde
ided whether
cided whether
or not there
or not there was
was a contract
a contract for
for the
the purchase of
purchase of
the automobile.
the
automobile.
automobile.
Weight:
27%
3.
Did not submit
Insufficiently
Partiallyiden
Satisfactorilyide
Thoroughlyide
Identify
or
identified the
tified the
ntified the facts
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the facts
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facts from the
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scenario which
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decision
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decision on
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of the
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a contract
exists for the
purchase of
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not a
contract
a contract
exists for
exists for the
the
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purchase of
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the
a contract
exists for the
purchase of
the
automobile.
automobile.
ile.
Weight:
27%
4. 2
referenc
es
Weight:
4%
No reference
Does not meet
Meets the
provided; or,
the required
required
Meets number
Meets number
does not meet
number of
number of
of required
of required
the required
references;
references;
references;
references; all
number of
most
most
most references
references
references; all
references
references
high quality
high quality
references poor
poor quality
poor quality
choices.
choices.
quality choices.
choices.
choices.
More than 8
7-8 errors
5-6 errors
3-4 errors
0-2 errors
errors present
present
present
present
present
5.
Clarity,
writing
mechani
cs, and
formatti
ng
requirem
ents
Weight:
15%