Question Description
Read:
http://www.abajournal.com/news/article/biglaw_asso…
ncee_for_return_of_pricey_engagement_ring
Assume you are legal counsel for Ryan Strasser and you draft an
agreement a contract between him and his art student fiancée Sarah Jones
Dicken regarding what were to happen to the 4-carat engagement ring that
cost about $100,000.
The contract provides as follows:
In exchange for Ryan Strasser marrying Sarah Jones Dicken, Ryan Strasser hereby agrees that he
has provided Sarah Jones Dicken a 4-carat engagement ring. In the event that either party decides
to terminate the engagement and not get married, the ring will be immediately sold and the proceeds
divided equally between Ryan Strasser and Sarah Jones Dicken.
X Ryan Strasser X Sarah Jones Dicken
Who says romance is dead? However, is this agreement enforceable by a
court using the four elements of contract validity: agreement, consideration,
capacity, and legality? Separately explain (in four paragraphs) how each
element of a valid contact (agreement, consideration, capacity, and legality)
has been either fulfilled or not fulfilled by the provisions of the above
contract.
The paper needs to be no longer than one page.
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