Discussion – Contracts, Capacity & UCC (verbal statements)

This discussion is based on the following scenario:

The CEO of a company called Hot Coffee went to the local bar to have a few drinks with friends.  She meets another entrepreneur who just opened a coffee shop called Cool Shot.  Over several drinks, the two become immersed in conversation about how their companies could work together.  They are joking and laughing about coffee mugs sales when the Hot Coffee CEO says, “if you can sell ONE of my coffee mugs for $1,000, I will GIVE you 1,000 mugs for $1,” and then falls off her stool in laughter. 

By the end of the night, the two business owners end up with a napkin signed by both of them stating “Hot Coffee will provide 200 of its collector’s edition coffee mugs to Cool Shot by the first of the month and in exchange, Cool Shot will hang Hot Coffee posters in its shop, will display and sell Hot Coffee mugs, and will use Hot Coffee mugs for marketing raffles.” 

Get Ready!

To prepare for this Discussion:

• Review the material in your textbook for Module 6.
• Review the supplemental resources for Module 6.
• Gather research beyond provided course materials to support your initial response. Cite your research, in-text, using APA formatting as applicable.
• When relevant, support statements by including prior knowledge, work experiences, references, websites, resources, etc. (give credit and use APA citations when appropriate). 

Share Your Thoughts

By Day 2 of this week:

Go to the Module 6 Discussion Board and share your thoughts. The length of your post is conditional on the prompt. Answer fully, but concisely. The discussion is meant to be an informed conversation, not a research paper. For full points, you must use the terminology and concepts from the textbook to support your argument

Your post should address the following points:

• Discuss whether the verbal statement by the Hot Coffee CEO would be considered a valid and enforceable contract.
• Discuss whether the writing on the napkin would be considered a valid and enforceable contract.
• Discuss whether either the verbal statement or the writing on the napkin would fall under the Uniform Commercial Code (U.C.C.).  Why or why not?

Respond to Your Colleagues

By Day 5 of this week:

Respond to two of your colleague’s posts. You may type your response or record video or audio. Look for areas in which your colleague’s ideas may differ from your own. You may respond to your colleagues in one or more of the following ways:

• Ask thought-provoking questions 
• Offer opinions supported by evidence
• Share a new insight you have gained from reading your colleague’s post
• Expand upon your colleague’s post 
• Offer an alternate idea or suggestion

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