The Key Legal Factors Of A Business Essay

The Key Legal Factors Of A Business Essay

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Introduction
When running a business the owners need to consider the number of laws put in place to ensure their fairness. These laws commands and limits their manner of conducting business. A certain soft-drink company did not consider these laws when creating and shooting a commercial and their integrity was challenged in court. For this document, I will discuss the key legal factors of the scenario. I will explain the four elements of a valid contract and how they relate to the scenario. I will define the objective theory of contracts and how it relates to the scenario. I will explain my position about the judge’s ruling. I will explain whether or not an advertisement s actually considered an offer or not. I will explain how this case differ from a reward situation in which a unilateral contract is formed upon completion of the requested act. Finally I will make two recommendations to a company considering an aggressive marketing campaign with giveaways of high value items.
The key legal factors presented in the scenario is a contract law. The soft-drink company advertised a commercial offering a Harrier jet as a prize for earning seven million of the company’s points. According to an HG.org expert a contract have been formed when the three elements of an offer, an acceptance, and consideration are present. “An offer must be made to an identified party, with certain terms, and the intention of entering to an agreement. The identified party must agree with the original terms of the offer. Consideration means a bargain for exchange must be present (HG.org, 1995).” In this case the term of the offer was the Harrier jet for earning or purchasing seven million company points to the general public. A man saw the offer and accept...


... middle of paper ...


...u are seriously offering and intend to actually giveaway and what are gag gifts for pure entertainment purposes. I would write out or type up the terms and conditions, listing whatever prizes that will given for everyone to read and have to sign.
This document discussed the key legal factors of the scenario. I explained the four elements of a valid contract and how they relate to the scenario. I defined the objective theory of contracts and how it relates to the scenario. I explained my position about the judge’s ruling. I explained whether or not an advertisement is actually considered an offer or not. I explained how the case differ from a reward situation in which a unilateral contract is formed upon completion of the requested act. Finally I made two recommendations to a company considering an aggressive marketing campaign with giveaways of high value items.



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