Question

Taylor and Kanye are in a dispute over whether they have a binding agreement with each other. Taylor claims she intended to enter into a contract with Kanye to create two songs for Kanye to perform, and Kanye has breached the contract. Kanye claims he never intended to enter into a contract with Taylor for the creation of two songs, thus there is no breach. The intentions of both Taylor and Kanye to enter into a legally binding agreement is determined by (a)Qthe objective theory of contracts. (b)the Statute of Frauds. (c)the subjective theory of contracts. (d)the parol evidence rule.

Answer 1

The intentions to enter into a legally binding agreement between Taylor and Kanye are determined by the a. objective theory of contracts, which looks at outward actions and statements, rather than internal intentions.

Step-by-step explanation:

When Taylor and Kanye are in a dispute about whether they have a binding agreement or not, their intentions to enter into a legally binding agreement are determined by the objective theory of contracts. This theory suggests that the existence of a contract is judged by the outward actions and statements of the parties, not their subjective intentions. For an agreement to be legally binding under contract law, there needs to be an offer, acceptance, consideration, and mutual intent to be bound. In other words, it is what Taylor and Kanye expressed to one another through their communications and conduct that will establish whether a contract was formed, rather than their private, internal intentions.