Business Law I Bus 311
September 05, 2012
The contract I am going to be talking about in this paper is near and dear to my heart. As with all contract, you have to be careful what you are signing and read all the small print. We have all been ripped off at some time or another. A valid contract is an agreement resulting in an obligation that is legally enforceable. It meets all the requirements of a contract because all six essential elements are present. (Liuzzo, pg 114)
When my mom’s house needed a new roof to pass inspection for home insurance, we set out to find a company to do the work. We talked to several companies that gave us different amounts for different options for the roof. We decided to go with shingles instead of barrel tiles, and there was some wood work that had to be replaced because it was rotten.
In our search for a company to do the work it was important that we had a contract that was valid and enforceable. We were looking for a company that was licensed and insured and had a good reputation, not a here today gone tomorrow. My mom is on a fixed income and if she did not have enough money, we all had to contribute to get it done. The roof work had to get done before we could insure the house and we did not want any further expenses if the workers got hurt on the job.
After several quotes, we decided to go with a company called A-1 Property. They presented us a quote that was not the most expensive and not the cheapest and they had a good reputation. Their offer was for $6,650 for replacing the roof. Along with replacing the roof shingles, they were supposes to be replacing the rotten wood.
We accepted the offer and they drew up the contract. The contracted stated that we had to pay fifty percent before the work started to get all the material and permits needed to start the work. Once they acquired the materials required, they required an additional twenty-five percent...