Question

First discuss how the following case will be resolved in the court based on the elements of contracts. Then discuss the resolution of the case based on the principle of Estoppel (5) "In a formal agreement, John Wills leased his pasture (for cattle gazing) to a farmer, Helmut Schriner, for \$10,000 a year, payable in advance on January 1 of each year. In the agreement, a five-year lease was drafted which stated that either party could cancel the lease, but that the cancellation would not be effective until 12 months after the cancellation notice was received by the other party. After the five years had passed, Schriner sent a check for $10,000 to Wills for the lease in the sixth year. The check was deposited by Wills. This was repeated for four more years. At the beginning of the next year, Schriner sent Wills a check for $10,000, which he deposited. Then, at the first of March, Wills sent Schriner a letter notifying him that he would have to remove his cattle from his pasture by the end of March. He stated in the letter that the lease agreement had long expired and that he had included a check for $7,500 to cover the unused nine-month portion of the lease. Essential Elements of a Contract - Competent Parties - anyone, acting in good faith, can enter into a contract (excludes minors, persons intoxicated, or deemed mentally incompetent) - Lawful Subject Matter - definite and clearly defined, cannot violate dictates of common law nor be contrary to public policy - Certain Terms - A legal Contract must have certainty of meaning - Consideration - exchange of something of value applies to both parties - Meeting of the minds - parties agree on the basic meaning and legal implications of the contract - Offer and Acceptance - Offer is revocable as long as it has not been accepted-acceptance creates the contract (submission of a bid is an offer....) - Acceptance must be definite, unqualified and unconditional If above elements exists - Legal Obligation - Breach can be challenged in courts

Answer 1

Based on the elements of contracts, the resolution of this case will depend on whether the essential elements of a contract were present. The principle of Estoppel may apply if Wills accepted Schriner's payments for the lease without objecting or canceling the contract.

Step-by-step explanation:

Based on the elements of contracts, the resolution of this case will depend on whether the essential elements of a contract were present. These elements include competent parties, lawful subject matter, certain terms, consideration, meeting of the minds, offer and acceptance, and legal obligation. In this case, it seems that all these elements were present, as John Wills and Helmut Schriner entered into a formal agreement for the lease of the pasture for a specific amount and duration.

Regarding the principle of Estoppel, it refers to the legal doctrine that prevents a person from denying or asserting something contrary to what they had previously said or done. In this case, if Wills accepted Schriner's payments for the lease in the sixth year and subsequent years without objecting or canceling the contract, it creates a reasonable expectation for Schriner that the lease would continue. Therefore, Wills may be estopped from claiming that the lease had expired.