Please read and try to connect with the response and then continue the conversation to demonstrate insight into the topic, critical and reflective thinking, original ideas, and supporting details and examples when appropriate. Responses should be substantive in nature and not simply "I agree" or "good point".

at least two hundred word response to both questions . IN QUESTION FORM (1. ) (2)

1 The subject of the two videos explains the contract laws with the understanding of "statute of frauds" and the "lack of mutual assent." Both video's center around the protection of expectations. Whether a contract is an oral or written contract, a reasonable expectation by both parties is needed or the contract could become void.

The first video was a statute of fraud song that explains which types of contracts need to be in writing. "A statute of fraud is a state-level legislation that addresses the enforceability of contacts that fail to meet the requirements set forth in the statute; serves to protest promisors from poorly considered oral contracts by requiring certain contract to be in writing". (Kubasek, N., Browne, M.N., Herron, D., Dhooge, L and Barkacs, L. 2020). There are six types of agreements that two parties can enter, that require to be in writing, "contract in consideration of marriage, contract to guarantee the debt of another, executor's promise to pay an estate debt, contract that cannot be performed within one year, contract transferring interest in real property, contract for the sale of good worth $500.00 or more" (DeAbgelis, M. 2010). Many people will enter one or even two of these contracts in their lifetime. Anyone who enters into holy matrimony and then buys a house can account for two out of the six contracts that need to be in writing. Even though there are six agreements that need to be in writing there are many other agreements that can be done orally. Purchases on Facebook marketplace is a common example of an oral contracts, so long as the purchase is less that $500.00. Agreement to purchase something listed in the marketplace can be done orally for a lot of items. I recently entered an oral contract with another person to buy a new desk. The desk was under $500.00, and an appropriate price and arrangements were agreed upon orally.

The second video explains different circumstances that contracts can become void and unenforceable because of a mistake, misunderstanding, or misrepresentation. "A mistake is an erroneous belief about the facts of a contract at the time the contract is concluded" (Kubasek, N., Browne, M.N., Herron, D., Dhooge, L and Barkacs, L. 2020). Mistakes can be unilateral, which is a mistake by one of the two parties and mutual, which is a mistake by both parties. Misunderstandings are "mistakes about a contract term resulting in parties being uncertain about there expected obligations under a contract," (Lawshelf. 2020). Misrepresentation, "is an untruthful assertion by one of the parties about a material fact" (Kubasek, N., Browne, M.N., Herron, D., Dhooge, L and Barkacs, L. 2020). An example of a misunderstanding can be around musicians' image and likeness. A small-town local band was forced to change their name because it was the same name as a very successful globally recognized band. A misunderstanding could happen when fans of the successful band purchase tickets to the small-town band unknowingly. This was a misunderstanding because the fans of the successful band could be unaware another band with the same name even exists leading in profits for the small-town band.

Individuals enter into contracts either in writing or orally, but it is still important that both parties are protected to ensure the contract stays valid. The negotiations that occur between two parties must be constructed in fairness and reasonability. General contract law goals is centered around the protection of reasonable expectations of reasonable people (Lawshelf. 2020). The allowance for mistakes and statutes in contract law can enable piece of mind when forming a contract.

References:

DeAbgelis, M. (2010, November 19). Statute of frauds song [Video]. YouTube. https://www.youtube.com/watch?v=tNwAFgdpLJM

Kubasek, N., Browne, M.N., Herron, D., Dhooge, L and Barkacs, L. (2020). Dynamic business law with Connect Plus (5th ed.). McGraw-Hill Publishing.

Lawshelf. (2020, March 5).Contract defenses for lack of mutual assent: Mistake, misunderstanding and misrepresentation[Video]. YouTube. https://www.youtube.com/watch?v=y3qVhXIWjjA

2. As we get further into this lesson, I think about all of the contracts I have made in my life. Some were legal, like my mortgage, or my car, and others were oral - the handshake deal. I know I am an honest person; however, as I get older and ore wise to the world, I am not sure that everyone around me is. I have also learned that a contract is to protect both parties should the other default or the terms change not necessarily because of distrust.

I found the YouTube song we were provided in the lesson interesting. The jingle was stuck in my head for a while, but I suppose that is the point. The statute of frauds is to prevent a loss of any kind. The legal binding agreement(s) are not meant to make others think twice before make decisions, but should make them think of the seriousness of the situations before signing their name on dotted lines. There could be great consequences should they default after signing.

I believe the statute of frauds are open to interpretation by judges when a case lands in court. There are many exceptions to the rules, for example, in an oral contract where work as already started; that work needs to be finished. Another example is where one party was repaying debt, then decided they were finished before the agreed amount. It is my opinion that if you are going to court and plan to recoup costs you should have your case well documented.

I contract I am bound by every day that is not in the statute of frauds. That is implied consent. Although patients drive themselves to the laboratory, sign the consent forms during the registration process, and wait their turn to have their labs drawn, it is their right to change their mind when they sit in the phlebotomy chair. I cannot make them put their arm out, so, when I ask them "do you have an arm preference" and they put out an arm, that is an implied consent to me. They are implying they want their phlebotomy preformed in that arm and they assume the risks such as a bruise.

A discharge of contract I am familiar with is the contract in consideration of marriage. I was quick to get married and did not listen to any advice given to me, including my gut feeling! I was just young, and at the time it seemed like the right thing, so, I was married on 11/11/11 and filed for divorce on 2/14/12. Those three months involved the steepest, most expensive learning curve of my entire life! Needless to say, my divorce was not final until 2014 it drug on SO long. Lesson learned. I swore Id never marry again, but, you cant help fate. This time everything is in writing and there is no misunderstanding with property, businesses, vehicles, etc.

References

Chen, James. "Statute of Frauds: Purpose, Contracts It Covers, and Exceptions." Investopedia, Investopedia, 22 Dec. 2022, https://www.investopedia.com/terms/s/statute-of-frauds.asp#:~:text=The%20statute%20of%20frauds%20is,lasting%20one%20year%20or%20more.