Table of ContentsDonald and TeresaDonald and AngelaDonald and PhillipeDonald and ViadimirConclusionDonald and TeresaDonald did not enter into a legally binding contract for the sale of his helicopter with Teresa. As stated in the definition of a contract, it is a legally binding act that is enforceable by law and an agreement between two or more parties. When the contract is not legally binding or there are disputes over fundamental principles of the contract that have been broken, it may be necessary to take the matter to court. Donald has a responsibility to note that he may find himself in a dispute regarding the sale of his helicopter to either party involved, which may require settlement in court if he ultimately sells the helicopter (Koffman and Macdonald, 2010).Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original Essay A legally binding contract is also defined as a valid and binding agreement between two or more parties. A contract must contain a valid offer and there must be an acceptance of the offer. In the case of Donald's sale of the helicopter, the offer made by Teresa may be valid but there is no acceptance of Donald's offers. For example, when Teresa sends Donald an email about purchasing the helicopter, Donald does not bind the agreement since he does not open the email until later, when the conditions set by Teresa have expired. For a contract to be valid, an offer must be made by both parties involved and an agreement reached. The seller does not appear to be committed to reading his emails, which can also be used to enter into legally valid contracts. A valid contract must have the consent of both parties involved. Teresa is a willing buyer but Donald does not read her email to tell her which way to go about selling the helicopter (Major and Taylor, 1996). Donald and Angela Angela is also a willing buyer who inquires about the price of the helicopter from Donald. but there is no acceptance of the offer. Again, there is no consent from Donald regarding the sale of the helicopter; the contract is therefore not valid. Donald appears to have agreed the price of £1.8million, but he has not agreed to whether Angela will be able to buy the helicopter. The purpose and consideration aspects of a contract were included in the agreement between Donald and Angela, but there is no consent from either party, making the contract illegal. Donald and PhillipeDonald and Phillipe did not sign a legal contract in accordance with the requirements of contract law as well. There appears to be a verbal agreement between Donald and Phillipe when Phillipe contacted Donald to investigate the condition of the helicopter. Donald appears to have accepted the terms and conditions proposed by Phillipe regarding payment terms. However, Donald and Phillipe do not follow the quid pro quo aspect of signing a contract. A legal and binding contract must have some form of consideration whereby the parties involved must receive consideration or something of value. Without consideration, the contract is considered a gift to either party who receives an item in the expectation of something of value. Phillipe makes the payment to the bank, but the money received remains as a gift until Donald delivers the helicopter to Phillipe. Furthermore, Phillipe only hinted that he would only make the payment on Saturday, which is still uncertain. Legally binding contracts are concluded according to,, 2002).