If A says to B "I will repair your house" and B makes no promise in return, there is no agreement. If B says, "I will pay you $1000", then there is still no agreement. Why? Because it takes two to make an agreement. An agreement involves an exchange of promises or goods. A has not yet agreed to accept $1000 for doing the work. If A says, " I will accept $1000", there is agreement on price, but is there a contract?
Unless there is agreement on all the essential terms, the law does not recognize the existence of a contract. Is there an agreement on the actual work to be done to repair the house? It may be that A and B know exactly what work is necessary, for example repair of a leak in the roof. In that event, the actual work to be formed is agreed and there may be a contract.
Now suppose you are working for Capitol Home Improvement, LLC and one client is interested in having the roof repaired for the house. You are responsible for writing a contract and having it signed by both parties. You are welcome to add more details to make the contract as complete as possible.
Please turn in a paper of one to two pages (page counting does not include cover nor reference list) for this contract. Please make sure that you consult the background information and include all necessary components for the contract.
Expectations:
1. Answer questions with clarity.
2. Show depth and breadth in your paper to enhance the quality of your paper.
3. Try your best to search in our library to find some papers/articles to support your argument and show them in the reference list.