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Contract Analysis

In: Business and Management

Submitted By babypearl97
Words 1132
Pages 5
Running head: BUSI 561 Contract Analysis

BUSI 561 Contract Analysis / Week 3
Demetria Barlow
Liberty University

BUSI 561 Contract Analysis / Week 2

The case presented here in this contract analysis is a very sticky situation. Here we are faced with the combination of two very different relationships between the same two parties. I would find myself quite surprised at the reaction of Mr. Petersen upon telling him about the direction in which my business is about to go. According to the facts presented, I have always tried to display the traits of a good merchant when it came to Mr. Petersen. However, as the evidence reflects, Mr. Petersen seems to be more driven by money than he is by maintaining good business practices. It has already been proven that Mr. Petersen is a nonbeliever. With that being said, it is a good possibility that we do not share the same moral beliefs and values. This is proven in the way Mr. Petersen chose to do business. First, all business invoices clearly state that balances are to be paid within thirty days. However, Mr. Petersen has constantly decided to pay on his own schedule, usually forty five to sixty days. Although I have every right to charge him interest and penalties as stated on the invoices, I have always elected not to do so. Secondly, one would believe that their business partner should be trustworthy. Mr. Petersen has proven that this is not so by getting my son to sign a contract without my knowledge and then trying to force me into abiding by those said terms. For this reason, I would have to decide that I would no longer partake in any business relationship with Mr. Petersen.
I am aware that this decision to cease doing business with Mr. Petersen may cause him to move forward with a lawsuit due to breach of contract. Mr. Petersen can seek relief from this situation in a court of law. The main

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