Business Law: Kim vs. Sons - Case Study Example

Son only thought liable out of humanity and not legally (Marson, 2013). Besides, both parties must always gain a valuable profit from a business contract. The case does not stipulate an agreement of the benefits that would accrue to either party. Son operates the business out of respect for Kim but has no legal bidding or entitlement to resultant benefits from the business (Marson, 2013). The contract would have been considerable if it were non-partisan. On the contrary, Kim enjoys all the benefits of his investments at the expense of the operator.

In addition, there should be a clue of promise to advance a valuable thing to either the parties. In this case, Kim does not promise Son of something valuable out of the operation of the business. Moreover, as per the rules of consideration, both parties in the agreement must be in agreement with a drafted ruling of what needs exchange during the transactions. Either party ought to have known the extent of liability involved in the business contract between them (Marson, 2013). Son, therefore, was not responsible for any debts or liabilities that Kim’s business would experience.

Son was only an operator with no business legal bidding.