Weekly Discussion – Chapter 10, An Offer and Consideration in Contracts

A contract is a legally binding arrangement between two or more parties that seeks to trade value.  In contract terms value is called consideration.  Having read Chapters 8, 9, and 10, you should know the basic elements necessary to form a contract.  For this discussion, we will start with the first element, which is the offer.

Considering the type of business that you are in or will be in, think of an arrangement to trade either goods or services that you are likely to enter into with another person or business.  For your post:

1.  Describe the business you are or will be in,

2.  Describe the goods or services that will be traded, and,

3.  Write an offer letter to the business/person detailing the terms of the contract you would like to enter into and outlining what the consideration for the contract will be. 

Post the letter as if it were the exact letter you would sign and send… meaning, it must be written professionally.

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