Chapters 8 & 9 Assignment (Module 2: Contracts and the Uniform Commercial Code) – BUSN

Read Chapter 8 (Agreement & Consideration in Contracts) and Chapter 9 (Capacity, Legality, & Enforceability) in the textbook as well as the lecture notes.
Once you have completed the assigned reading, create a document to place in the Dropbox that provides your answers to the following tasks.
Visit FindLaw’s Contracts Law page and review the information and examples illustrating the common law requirements of offer and acceptance. Tell me one example that you found there.
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Kalen is a seventeen-year-old minor who has just graduated from high school. He is attending a university two hundred miles from home and has contracted to rent an apartment near the university for one year at $500 per month. He is working at a convenience store to earn enough income to be self-supporting. After living in the apartment and paying monthly rent for four months, he becomes involved in a dispute with his landlord. Kalen, still a minor, moves out and returns the key to the landlord. The landlord wants to hold Kalen liable for the balance of the payments due under the lease. Discuss whether Kalen is or is not liable by applying the law relating to minors and contracts to the facts in the problem.