Lawful Contracting.

Write a 1-2 page executive summary answering the following questions: 1. What are the four elements of a valid contract? 2. Describe the objective theory of contracts. How does that theory apply to this case? 3. Why do you think the court held that there was not a valid agreement here? 4. Are advertisements generally considered offers? Why or why not? 5. How does this case differ from a reward situation, where a unilateral contract is formed upon completion of …

…or commercial ads. It seems as though this did nothing but cause a lot of confusion, misunderstanding, and not to mention, a lawsuit. To prevent this from happening ever again, I would hope that PepsiCo evaluate every future ad to make sure that everything is clear and the ability to misread or misunderstand anything is omitted. Reference: Cheeseman, Henry R. Contemporary Business and Online Commerce Law (5th Edition) Upper Saddle River, NJ Pearson Prentice Hall