Question

For the following scenario, please explain whether a contract has been formed. Discuss whether all requirements have been met for a valid contract, including consideration. If the contract is void or voidable, say so and then explain why. Be sure to include more than one reason for your conclusion, if applicable. Finally, is the agreement executory or executed? Why? Is it express or implied? Why? Is it bilateral or unilateral? Why? Be sure to explain your answer fully, so that I can be sure you understand these concepts.

Scenario: (This scenario takes place in Ohio, where the age of majority is 18 and the drinking age is 21.) One Sunday, after smoking a fair amount of cannabis and feeling "high", Lara (17 years old) goes to Joe's house. Joe is a 21-year-old guy in the neighborhood who sells alcohol to people from his home on Sunday, when the liquor stores are closed. Lara asks Joe if she can buy a six pack from him. He says "sure" and gives her the beer. She promises to pay him next week.

Answer 1

Q: For the following scenario, please explain whether a contract has been formed. Discuss whether all requirements have been met for a valid contract, including consideration. If the contract is void or voidable, say so and then explain why. Be sure to include more than one reason for your conclusion, if applicable. Finally, is the agreement executory or executed? Why? Is it express or implied? Why? Is it bilateral or unilateral? Why? Be sure to explain your answer fully, so that I can be sure you understand these concepts.

A: Yes, in this scenario all the requirements or conditions of a valid contract are met including consideration. There is an offer, acceptabnce and consideration which form the three key requirements for a contract. Lara approached Joe, made an offer to buy liquor, Joe accepted Lara's offer to buy and Lara's consideration for payment the next week.

This would be considered a valid contract which would be a bilateral contract since it involves two parties agreeing to and accepting the contract conditions.

This would be an example of an executionary contract because all the terms and considerations haven't been completed or executed with Lara promising to pay Joe the next week.

However, since Lara's age is 17 years which is considered a minor, this contract would be voidable or disaffirmed under the Infancy Doctrine in Ohio state law, wherein a 'mature minor' of 15 years and above must be able to prove that they are capable of taking on adult responsibilities and financial support, and there must be an act of omission on the part of the legal guardians/parents. Here in this case there would be an act of omission or lapse of Lara's parents since Lara was was drinking and smoking cannabis being a minor which is illegal in Ohio state law. Thus, the contract would be voidable and Lara would be able to disaffirm or cancel it and emancipate or free Lara of any obligations, considerations or conditions under the contract between Lara and Joe.