Discuss the various types of contracts – Business Law
Charter Golf, Inc. manufactures and sells golf apparel and supplies. Ken worked as a Charter sales representative for 6 months when he was offered a position with a competing firm. Charter’s president, Jerry, offered Ken a 10% commission “for the rest of his life” if Ken would turn down the offer and stay on with Charter. He also promised that Ken would not be fired unless he was dishonest. Ken turned down the competitor’s offer and stayed with Charter. Three years later, Charter fired Ken for no reason. Ken sued, alleging breach of contract. Answer the following questions:
Does Ken’s employment contract fall within the Statute of Frauds? Why or why not?
Suppose that Jerry had taken out a pencil and written “10% for life” on the back of a receipt, and handed it to Ken. Would that satisfy the Statute of Frauds? Why or why not?
Discuss the various types of contracts that must be in writing.
Identify what must be in writing in a contract in order to satisfy the requirements of the Statute of Frauds.
