Van Overschelde Manufacturing (VOM)is a Successful Multi-Million-Dollar Electronics Component Manufacturer

Essay

Van Overschelde Manufacturing (VOM)is a successful multi-million-dollar electronics component manufacturer.The company president,Elias Van Overschelde,personally collects rare Canadian native art.One of the members of the maintenance crew at VOM,Usama,had recently purchased at a garage sale an article that Usama thought might be a piece of Canadian native art.Having purchased the piece for $2 Usama wondered what it was worth and showed the art to the Elias.Elias immediately recognized the piece as an extremely rare example of early 1700s Iroquois art worth nearly $250,000.Elias,knowing that Usama had paid only $2,immediately offered Usama $1,000 for it.Usama,who couldn't believe his luck,immediately accepted.Prior to formalizing and executing the agreement,what prudent step should Elias take to ensure the deal cannot later be overturned by the courts?