• Identify the consideration each side offered in the written contract and the implied contract you provided for Module 3 (2 pts.).
• A copy of a covenant not to compete as a condition of employment or in connection with the sale of a business (2 pt.). If the covenant you find contains personal information, please redact (black out) the personal information like address, phone number, birth date, social security number, etc., that may be on the contract. (Hint: If you dont have ready access to such a covenant, you may need to do research to locate one. Try searching for one online, or for articles about covenants not to compete that may cite real cases that quote real covenants. If the covenant you find is quoted in a case, provide the citation for the case.)
• Do you think the covenant you found is enforceable? Why? If not, how would you change it to make it enforceable? (1 pt.)
• the written contract and the implied contract I provided for Module 3 Are: A copy of a covenant: Written Terms of a Contract:The particular terms and conditions that have been agreed upon by the parties to a contractual agreement are referred to as the written terms of a contract. These conditions may be stated in a formal agreement that may be submitted electronically or on paper. They frequently contain facts such the names of the parties, the aim of the agreement, the responsibilities of each party, how long the arrangement will last, and any other pertinent information. Implied Contract are: A legally binding agreement that results from the conduct or activities of the persons concerned rather than from express written or verbal conditions is known as an implied contract. It is predicated on the parties' indicated desire to form a legal contract. For instance, if you go to a restaurant and order a meal, you and the establishment have an implied agreement that you will pay for the food you have consumed. Categorizing contracts: Bilateral vs. Unilateral: In a bilateral contract, both parties exchange promises and are required to carry out specific tasks. For instance, in a sales agreement, the vendor agrees to deliver the items and the buyer agrees to pay the purchase price. On the other hand, a unilateral contract entails a guarantee from one party in return for the other party performing a certain act. For instance, a reward offered for recovering a lost item creates a unilateral contract, entitling the finder to the prize in exchange for returning the item. Executory vs. Executed: A contract that is executory is one in which both parties have made commitments but have not yet carried them out. The contract would be regarded as executory, for instance, if you hired a contractor to repair your home but they have not yet begun. On the other hand, a contract that has been fully executed means that both parties have fulfilled all of their contractual responsibilities. The contract would be seen as performed, for instance, if you ordered a thing online, received it, and the seller had been paid.