Review the rubric to make sure you understand the criteria for earning your grade. In your textbook Business Law and the Legal Environment, read section 10.1 “Duress and Undue Influence” from Chapter 10, “Real Assent”. In your textbook Business Law and the Legal Environment, read section 11.3 “Promises Enforceable without Consideration” from Chapter 11, “Consideration”. In your textbook Business Law and the Legal Environment, read section 12.1 “General Perspectives on Illegality” and section 12.2 “Agreements in Violation of Statute” from the Chapter 12, “Legality”. Consider the following scenario: Simon has done so well in the food truck business that he attracted the attention of numerous investors. However, Simon never really considered partnering with other vendors until he received an inquiry from the Street Foods R Us franchise. Orlando, the owner of the Street Foods R Us franchise, was interested in the possibility of setting up business in a food truck park with Simon as a part of a franchise agreement. Orlando would be the franchisor, and Simon would be the franchisee. Orlando would supply Simon with the use of his nationally known trademarks as well has his expertise. Orlando wanted to be certain that Simon was serious, so he asked Simon to secure a land lease and $20,000 for start-up costs. The $20,000 was to be paid to Orlando. Simon withdrew $10,000 of his savings to secure a multi-year land lease and took out a $20,000 mortgage on his home to cover the franchise start-up costs. When Orlando mentioned that they needed lighting for nighttime vending, Simon contracted with an electrician service to install commercial-grade outdoor lighting fixtures throughout the property. The electrician’s bill totaled $8,000. breach of contract Despite numerous phone calls, Simon did not hear from Orlando again until a month later, when Orlando advised Simon that the leased land was not to his liking and that the franchise start-up costs would be $45,000 instead of $20,000. Frustrated by Orlando’s demands, Simon protested and asked Orlando to reconsider the deal. Orlando refused and told Simon, “Take it or leave it.” To recoup his losses, Simon filed a lawsuit against Orlando based on breach of contract and undue influence. Orlando responded by asking the court to dismiss the case because no formal franchise agreement was ever signed between the parties and because he did not unduly influence Simon’s business decisions in the matter. Using the Simon’s Food Truck (Wheelin’ and Dealin’) Template.docx, describe the elements necessary to form a contract. Follow APA formatting requirements, including use of 12-point Times New Roman font. Correct use of citations and references is required. Refer to OCLS APA Writing Styles Guides for questions. When you have completed your assignment, save a copy for yourself and submit a copy to your instructor by the end of the workshop.
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