Final answer:
To ascertain if Jonah and Aaron had an enforceable contract, one must confirm the presence of an offer and acceptance, consideration, and legal terms that are capable of being performed. Written evidence of the contract's terms adds to its enforceability in resolving disputes.
Step-by-step explanation:
To determine whether Jonah and Aaron had an enforceable contract, three basic questions need to be answered:
- Was there an offer and acceptance?
- Was there consideration exchanged by the parties?
- Were the terms of the contract legal and capable of being performed?
An offer is a clear proposal made by one party (the offeror) to another (the offeree), while acceptance is the agreement of the offeree to the terms of the offer. Consideration refers to something of value that is exchanged between the parties, which is necessary for a contract to be valid. Lastly, the terms of the contract must be legal and capable of being performed; otherwise, the contract is not enforceable.
If these elements are present, Jonah and Aaron likely have an enforceable contract. Having a written contract can add to the enforceability, as it provides physical evidence of the agreement and its terms. This is particularly important when disputes arise, such as the one referenced in the provided text where written contracts were deemed worthless. The necessity of legally binding contracts in the business world cannot be overstated, as they serve as the sheet-anchor of commercial dealings.