It has been said that the promise of a man or woman is their bond. Written contracts just cause complications and cost a lot of money to draft and finalize. We have made laws that require we have written contracts for some transactions. In other we do not need written contracts. In many business transactions that are covered by the Uniform Commercial Code there is no need for a contract to begin the transaction between to businesses.
Do we really need written contracts? Can we get by with a handshake and a promise. Verbal contracts can be enforced. What are the advantages and disadvantages of a written contract for purchase and sale of goods or services? What does our text tell us about a contract and why they are important or not?
Task 2
Peter Knowall, the former attorney of John Belushi, one of the stars in the movie “Animal House” sued him for $250,000 in legal fees. Knowall said that Belushi signed a contract in October of 1980 when he was 17 years of age. In the contract Belushi agreed to pay Knowall 10% of his earning from the movie in exchange for all necessary legal services that would be provided by Knowall.
Knowall undertook the representation of Belushi and performed all necessary legal services. Belushi disaffirmed the contract in December of 1981. Belushi turned 18 years of age on October 31, 1981.
Can Knowall make a valid argument that for a minor in the position of Belushi, legal representation can be contracted for by a minor? Why or why not? If so, is Belushi liable for all of the fees charged for legal services provided by Knowall?
What other issues appear in this case that should be questioned or researched in determining whether the contract is enforceable? Why are your findings legal and are they fair?