There is a contract between the two parties, Bart and Homer because both parties promise an exchange of values that can be enforced by the court of law.
The first element to a contract is mutual assent. For mutual assent to legitimate, both Homer and Bart have accepted a duty. Homer’s duty is to pay Bart for the roller skates and Bart’s duty is to give Homer the roller skates exchange for the $150 dollars. The offeror would be Homer, who offered Bart the 150 for the skates and the offerce would be Bart for excepting the exchange of money for the roller skates. For the fact Homer is serious about getting into shape and is not emotional about the offer, this is a serious offer with serious intent. The terms of the offer are clear and within definite terms. Homer gave bart…show more content… Both Homer and Bart need to have some type of bargained for the contract to exist. Homer is sacrificing 150 dollars for Bart’s roller skate and Bart is sacrificing his roller skate for 150 dollars. By the court of law, if the contract is unconscionable, the courts can relieve the party who is losing. They must prove that the agreement is ridiculous by the conscience of the court. Some may think the agreement between Bart and Homer is ridiculous because Bart only paid 27. 95 for the skates, but courts do not view exchanges in equal value. Equal value would take away from profit making principle of capitalism.
The third element of a contact is capacity. Homer must have an understand that Bart is 17 and technically by law a minor, so at any time Bart can disaffirm the contract. Since Bart is not seeking a necessity, he is mentally competent. Both parties enter the contract with free will, no one was forced into anything. They both have an understanding of the contract and informed about the agreement.
The forth element is Legality. Both parties are not breaking any laws, tort laws, or statutes or public policies with their
