History of Federal Reserve bank
A contract should be signed by more than three people including a witness. In this scenario there exist oral contracts which are not signed by any party. The two parties should have a consent to the contract before there is an agreement.
In this case there is no consent between these two parties in regards to the terms of the contract. Consent means that there should be a mutual agreement between the parties that are in an agreement(GREENAWALT, 2013). In this case Margot is not in consensus with Frank because none of them agrees to affect the deal. The $ 450 refund procedure is not agreed d upon by both the parties therefore the court will not honor any of these agreements.
The final outcome of the decision by the judge will be based on the $400 fee that was supposed to be paid. The court will rule in three different ways which will favor frank. The initial part is that the court will assume that their never existed proposal to establish an arbitration process in case there was a conflict.
The court will therefore make a ruling in favor of Frank. The next scenario that the court will assume is that their never a proposal to form an arbitration because Margot did not wait for a response from Frank.
