Business Law: Offer and Acceptance. For a simple contract to be valid one party must make an offer and the other party accept it. An offer is made where a person (the offerer) unequivocally expresses to another (the offeree) his willingness to make a binding agreement on the terms specified by him if they are accepted by the offeree’ (Card 2002). This offer could be made to a specific person‚ in which case it cannot be accepted by anyone other than that individual. On the other hand it could
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Product Life Cycle The diagram above shows that the respective sales (in red) and profits (in blue) across five stages are illustrated. The typical Products Life Cycle consists of five main aspects : Product Development Stage Introduction Stage Growth Stage Maturity Stage Decline Stage Product Development Stage Product Development is a very expensive stage. Panasonic Company will carry out Research and Development (R & D) at this stage. Panasonic Company may decide to introduce
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Discuss the theory of ideal type. Weber defines Ideal Types as –“an analytical construct that serves the investigator as a measuring rod to ascertain similarities as well as deviations in concrete cases.” In other words‚ it is a methodological tool that helps to make sense out of the ambiguity of social reality. There are a few characteristics of Ideal Types that should be kept in mind. First and the foremost characteristic of ideal types is that they do not exist in reality. Although‚ ideal
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The Sale-and-run Type Compnay Well‚We will bet you dollars to donuts‚there are so many crusher provider which are sale-and-run type company that make you a long-tailed cat in a room full of rocking chairs to choice the best equimpments for quarry or mining.Wait‚what is the sale-and-run type company?Typically‚the sale-and-run type company is that before they sale the crushing equimpents‚they will service the customers as God so that they can contract with the clients.But‚after they sale out their
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are 4 types of segmentation‚ which are mass marketing‚ niche marketing‚ selective marketing‚ and individual marketing. Mass marketing is refers to the maximum exposure of product advertising to consumers. It also means that advertising the idea and market products to specific target markets. Thus‚ the target market which is a segment of consumers that identified through research to buy some particular product. For example‚ bread‚ television‚ radio‚ and household cleaners are the products that advertising
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Contract: enforcing bargains made between parties. Requirements for a valid contract • AGREEMENT between the parties • Requirement of CERTAINTY – terms of the contract/what’s going to happen during the life of the contract • INTENTION to create legal relations (formal agreement where they expect the law to be involved) • CONSIDERATION (giving each other party something of value which underlies promise they are making) AGREEMENT: (bargain negotiated between two parties) Looking at it objectively:
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A legally enforceable agreement‚ or a contract‚ can be broken down in to five elements; offer‚ acceptance‚ consideration‚ capacity to contract and intention to create legal relations. In this scenario there doesn’t appear to be an issue with capacity to contract and intention to create legal relations‚ so we can assume that they are both satisfied. The issues concerning this scenario are the concept of an offer‚ acceptance and consideration. When looking at the issues and assessing them‚ the objective
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Fazeel Question 1 (15 marks) For this case the major issue is whether a valid contract is made between Tina and Yatie‚ and whether the the offer by Yatie was revoked or not. According to (Miller & Jentz‚ 2010) every contract will involve atleast two parties. That is the offeror and the offeree. The offerer is the party who makes the offer‚ and the offeree is the person to whom the offer is made to. OFFER As per (Clarkson‚ Miller‚ Jentz‚ & Cross‚ 2009) an offer is a promise or commitment
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The Brita Products Company began in 1988 under the recommendation of Charlie Couric‚ a marketing executive with the Clorox Company. Optimistic of its capability to be profitable‚ Clorox acquired the right to market the home water filtration system. Clorox‚ citing the overriding long-term benefits of continuous filter sales‚ initially engaged in deficit spending. Such measures paid off and Clorox not only created a $350 million market‚ but also captured 70% of the market revenue. Brita enjoyed success
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I. INTRODUCTION Gerber‚ a U.S company producing jarred baby food‚ was considering in 1991 whether they should acquire Alima SA‚ one of Poland’s largest and most successful food processing plants. With this deal‚ Gerber expected to build a low-cost base for its European operation as a platform for growing markets of Central and Eastern Europe. Because the deal could help to have the aging plant modernized and boost its sagging export trade while bringing hard currency at the same time‚ Poland government
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