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Contract Creation

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Identify the legal issues present and note legal principles that apply to each.

Reflect on the legal principles presented in this week's readings.

Prepare a memo to discuss what legal risks and opportunities are in the simulation.

Identify what a manager may do to avoid those risks, minimize liabilities, and benefit from opportunities. Each legal risk or opportunity is governed by specific principles.

Identify the principles and relate specific measures managers may take to minimize legal risk or realize legal opportunities.

Evaluate alternatives to resolve problems identified in the simulation.

Explain which alternative approach you believe is best and why.

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Identify the legal issues present and note legal principles that apply to each.
The legal issues present are that there was a valid contract between Citizen Schwarz AG and Span Systems for the creation of banking software for the bank.
Does the alteration of the terms of the contract by requesting additions of features/functions make the contract void?
Can Citizen Schwarz AG unilaterally rescind the contract and ask for the entire code?
Has Span Systems committed breach of contract by delays even though Citizen Schwarz AG make several change requests during the development of the software?

Reflect on the legal principles presented in this week's readings.
The legal principles presented are as follows:
The formation of the contract and the role of offer, acceptance, consideration, and the intention to be legally bound the formalities of contract formation and the written preparation of the contract.
The principles of uncertainty, incompleteness and severance of a contract have been presented in the readings. How lack of agreement on key issues can lead to the severance of contract.
The terms of the contract have been presented in this week's readings including the implied terms of the contract. Further, the circumstances in which the contract can be set aside have been discussed. These include misrepresentation, mistake, duress, incapacity, illegal contracts and undue influence. Moreover, the remedies for breach of contract including specific performance and damages have been discussed.

Prepare a memo to discuss what legal risks and opportunities are in the ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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