Topic 4 Bus 340 Contract Formation
This is a Collaborative Learning Community (CLC) assignment.
The purpose of this assignment is to examine key principles of contract formation.
For this assignment, assume you are planning a birthday party. You will need to create a story line that provides background information relevant to the event, such as who the party is for, the number of people attending, and your overall vision for the party in terms of the venue, food and beverages, and entertainment. For the event, you should assume that you would be required to contract with a minimum of three vendors to include a party venue, catering, and entertainment. You may choose to add other elements to the party, such as transportation, photography, party memorabilia, etc.
Complete the “Contract Formation Chart,” located in the topic materials. For each vendor, you must provide the following information.
Identify the name of the vendor.
Identify and clearly state the offer for the contract.
Explain the method of acceptance for the contract.
Explain the elements of consideration for the contract.
Identify the factors that affect the formation of the contract.
APA style is not required, but solid academic writing is expected.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
You are not required to submit this assignment to LopesWrite.
Sample Paper
Contract Formation Chart
Directions: Complete the chart below, as directed in the assignment.
| Contracted Service | Name of Vendor | Offer | Method of Acceptance | Elements of Consideration | Factors That Affect Contract Formation |
| Venue | Rasconi Club House | The vendor would provide a venue for the party from 3:00 pm on 1st May to 7: 00 am on 2nd May 2020. | Express acceptance by signing a venue lease contract | The party host would pay the vendor 1200 dollars for access to the venue and use of the facilities on site. | The party host would bear responsibility for any illegal activities that occur during the event. |
| Catering | Bankleys Catering Company | The caterer will provide food, water, alcoholic, and non-alcoholic events for the birthday party on 1st May by 6:00 pm. The caterer will also provide waiting staff from the moment of food delivery until the end of the party. | Express verbal acceptance. | The party host would pay an initial 2300 dollars after the vendor accepts the offer to cater for the purchase of food and drinks. After completion of the party, the host would pay another 2700 dollars as a fee for the services. | The vendor must agree to the quantity and type of food and drinks that the party host wishes to have during the event. The catering company must refund the host if it does not offer all the requirements. |
| Entertainment | Spinfernal DJs | The vendor will provide musical entertainment from 8:00 pm on 1st May to 6:00 am on 2nd May 2020 during the birthday party at Rasconi Club House. | Acceptance by performing during the event. | The party host would pay the entertainment company a fee of 250 dollars per hour for entertainment services. | The entertainment company is liable for commencing their services late, whether or not it is due to a mistake. As such, the party host will only pay for the hours which the vendor provides entertainment services |
| Photography | Phoenix Photography | The photographer will record the event and deliver an edited soft copy of the video to the party host. | Express acceptance by signing a contract. | The party host will pay the photographer an initial fee of five hundred dollars upon signing the contract, and another five hundred upon delivery of the final edited footage of the event. | In case of rescheduling/postponement after acceptance of contact, the party host will pay the photographer half the remaining fee. |
| Storyline Summary: Brian, a friend, has requested me to plan a party for his upcoming birthday on 1st May 2020. He recently moved to the city, and he does not yet know the best entertainment service providers here. He is willing to spend up to ten thousand dollars for the event.v | |||||
