Which element of a valid contract would be missing

Assignment Help Operation Management

Reference no: EM131659623

Mark and Jessica are middle-aged homeowners, who live in a 5,500 square foot mansion in New Jersey that has radiant electric floor heat with separate zones throughout the house. This past winter, their kitchen zone was not working. Instead of tearing apart their entire kitchen to find the fault in the floor, they decided to start getting estimates from licensed plumbers to put in hydronic radiant floor heat. This type of heat can be put in under their current system and it uses hot water to heat the floors. They first called Working Pipes Plumbing for an estimate, which came back at $32,000. They then called Hall Andrews Plumbing and their estimate was $22,000. Mark and Jessica responded to both Working Pipes and Hall Andrews’ estimates by stating that they only wanted to spend $20,000. Working Pipes then walked away but Hall Andrews promised to perform the services and Mark and Jessica promised to pay them $20,000. Mark and Jessica and Hall Andrews then put everything in writing and they both signed the document.

Suppose Hall Andrews had told Mark and Jessica that he would do the work. Mark and Jessica then agreed that he could do the work but did not agree to give him anything in return. In this situation, which element of a valid contract would be missing?

Reference no: EM131659623

Questions Cloud

What is lean supply chain management : What is lean supply chain management? How does that figure into the future of supply chain management?

Sales have to increase to get the same target profit : How much should sales have to increase to get the same target profit?

Regarding low cost and differentiation strategies : Regarding low cost and differentiation strategies, when is each strategy appropriate?

Is the activity discussed in the case basis for crime : Is the activity discussed in the case a basis for a crime? What Crime? What would a prosecutor be required to prove?

Which element of a valid contract would be missing : Suppose Hall Andrews had told Mark and Jessica that he would do the work. which element of a valid contract would be missing?

Considered a bilateral or unilateral contract : If the contract between Mark and Jessica and Hall Andrews is a valid contract, would it be considered a bilateral or unilateral contract?

Performed using the seller cost data : Once the buyer has a complete understanding of what he/she is buying, a thorough price/cost analysis should be performed using the seller’s cost data.

What is the forecast for month seven : The demand during last six months were 26, 29, 34, 35, 39 and 40 units. If three month moving average is used to forecast the demand, what is forecast seven.

Assume poisson arrivals-negative exponential service times : Assume Poisson arrivals and negative exponential service times.

User Account

All Pages