Common Contracts that I have Encountered (Term Paper Sample)

Common contracts that I have encountered
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Institution
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Introduction
People enter into contracts on a daily basis. Some of these contracts are entered intentionally while others are entered unintentionally. Nonetheless, Charman (2013) suggests that intention to enter into a binding contract is an important element of a contract. Hence, even where intention is not express, it can be implied from the conduct of the parties. What cannot be denied is the fact that contracts are integral in our daily lives.
An example of a contract I have been involved.
I have been involved in a number of contracts. The paper explains those contracts that I consider interesting to talk about. On several accounts, I have found myself party to written and non-written contracts. The most recent one is an oral agreement I entered with an owner of a car who wanted to sell his vehicle. We agreed that he was to pay a 10% percent of the sale as a commission if I that placed his vehicle on my blog for advertisement. We further agreed that the commission would only be paid if the advertisement led to the sale of his vehicle.
After placing the vehicle on my blog we continued to converse through email and the he wrote that he was willing to give me a 15% commission as opposed to the 10% percent as earlier agreed. This would however be done if the vehicle found a buyer within 7 days after placing it in the blog. Lucky enough, the car found buyer through my blog within two days. The owner of the paid me $1000 as a commission. This was equivalent of 10% of the total sale of the vehicle as opposed to 15% as agreed in the email. Consequently, I demanded that he pays 15% as a consideration as we had agreed in the email. He refused and maintained that the original agreement should remain.
As a student with the knowledge of law of contract, I argued that we had an oral agreement whose terms were changed by the owner of the vehicle after increasing the percentage of the commission payable. This is because I was not opposed to the 15% commission. In my understanding, the conversation we had via the email played the role of amending our earlier terms. Additionally, the content of the email supported the oral agreement. Thus, the owner of the vehicle was obliged to honor the agreement under the new terms.
The complicated part of the above contract.
Even though oral contracts are enforceable, it has been made clear that not all oral contracts can be enforced. In trying to enforce the agreement we had with the owner of the vehicle I had considered whether our agreement fell under the one existing exception this rule to the general acceptance that oral contracts are enforceable. This rule is known as the Statute of Frauds. As Williams (2013) explains, this rule preven...