Advertisement Ip3

AIU Online IP3

Advertisement Truthfulness

April 13, 2013

Abstract

This paper will talk about advertisement and how many of them are not actual offers. The crazy “offerings” of an advertisement are completely unreasonable. Understanding the details of what a contract consists of will show the differences of a contract and an advertisement.

Advertisement Truthfulness

A contract is an agreement between two or more parties. The contract will create a legal obligation for those included in the contract. This legal obligation is a promise that the parties will provide a service or to do or not to do something. Contracts can be written or on an oral form. Contracts in oral form can be very hard to prove, as there is no documentation showing otherwise.

Contracts are composed of four elements. Agreement, consideration, competent parties & legal purpose are the elements that will create a valid contract. Without an agreement from both parties then there is no contract. The agreement will include an offer and acceptance of a service or terms. In this proposal the terms must be made clear. As both parties are aware of the conditions then an agreement can be made. Consideration is in conjunction with the agreement. This step is when one or both parties may be required to give up a privilege. Consideration can come in various forms such ad payment. In order for a contract to become binding the parties must be competent parties. This means that the participating individuals must be of legal age to agree to a contract. They must also meet the jurisdictional guidelines for mental competence (Contracts n.d.). Last step will be the legal purpose. For this to be valid it must have a legal purpose and consistent with public policy.

According to US Legal (n.d.) “Objective theory of contract is a doctrine which states that a contract is not an agreement in the sense of a subjective meeting of the minds”. The objective theory will apply to this case with the...