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Premier League soccer player Jack Wilshere and his club West Ham Utd agree ‘mutual termination of midfielder's contract’ - Leaving Cert Business - Question 4 (C) - 2021
Question 4 (C)
Premier League soccer player Jack Wilshere and his club West Ham Utd agree ‘mutual termination of midfielder's contract’. Adapted from the Irish Independent (i) Exp... show full transcript
Worked Solution & Example Answer:Premier League soccer player Jack Wilshere and his club West Ham Utd agree ‘mutual termination of midfielder's contract’ - Leaving Cert Business - Question 4 (C) - 2021
Step 1
Explain the method of terminating a legal contract as referred to in the text above.
Answer
The method of terminating a legal contract described in the text is known as mutual agreement. This occurs when both parties to the contract reach a consensus to end the contract. In this scenario, Jack Wilshere and West Ham Utd mutually agreed to terminate the midfielder's contract, indicating that both sides were in accord about the decision, regardless of whether the terms or purpose of the contract had been fulfilled.
Step 2
Outline other methods for terminating a legal contract. Provide an example in each case.
Answer
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Breach of Contract: This occurs when one party fails to fulfill their contractual obligations. For instance, if a builder fails to complete a home renovation, the homeowner may seek damages or terminate the contract due to this breach.
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Performance: A contract can be terminated once both parties have completely fulfilled their obligations. An example is a band performing at an event as agreed in their contract, thus concluding the contractual obligations.
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Frustration: A contract can also be terminated if unforeseen events prevent its completion. For example, a contract for a concert may be rendered void if a natural disaster occurs, preventing the event from taking place.