What is a contract? A contract is an agreement enforceable by law. 2. What is an agreement? An agreement is an arrangement between parties that creates legal obligations between them. Generally an agreement is said to be arrived at when an offer or proposal made by one person is accepted by another‚ with the intention of creating mutual obligations between them. 5. What are the essential features of a contract? Minimum two parties :- Atleast two parties are needed to enter into a contact
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Unit Name: | BUSINESS ENVIRONMENT | Unit Number: | 1 | Assignment Submission Date: | 29 April 2012 | Assessor: | VIVIEN ULU | Mode of submission: | LIVECAMPUS | Learning Outcomes To achieve a pass learners must demonstrate the ability to deal with each of the following outcomes and present these in report form – scripts will be checked against each of these: 1. Understand the organisational purposes of businesses 2. Understand the nature of the national environment in which businesses
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1 2 3 4 GLOBAL BUSINESS ENVIRONMENT 1 ASSIGNMENT 1 2 3 To What Extent Are European Entrepreneurs Seeking To Start New Businesses At ADisadvantage Compared To Their American Rivals? The European Union and the United States are each other’s main trading partners and enjoy the largest bilateral trade relationship in the world. In 2007 their combined economies accounted for nearly 60 % of global GDP‚ approximately 33 % of world trade in goods and 44% of world trade in services
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Resolving Ethical Business Challenges Chapter One 1. What are the potential ethical issues faced by Acme Corporation? Acme is essentially bribing buyers to purchase their products. This could backfire on them if the buyers company gets wind of it. The reaction of the company may be to fire their buyer and cut off Acme all together. This of course could be potentially fatal for Acme in two ways‚ one by damaging their infrastructure though lost revenue and two by damaging their corporate
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Insurance is a means for persons and businesses to protect themselves against the risk of loss. An individual who purchases automobile insurance may be reimbursed by the insurer if his or her car is stolen. Insurance is crucial to personal‚ business‚ and estate planning. Insurance is defined as a contract whereby one party undertakes to identify another against loss‚ damage or liability arising from an unknown event. It is a means of transferring and distributing risk of loss. The risk of loss
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org/uk/cases/UKHL/1884/1.htmlAtlas Express v Kafco (Importers & Distributors ) Ltd (1989) QB 833 http://en.wikipedia.org/wiki/Atlas_Express_Ltd_v_KafcoAmalgamated Investment Co v Texas Bank (1982) Q.B http://www.bailii.org/ew/cases/EWCA/Civ/1965/3.htmlBusiness Law‚ by Robert W. EmersonPublished by Barron ’s Educational Series (2004)
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theorist assumes that business environment and organisation behaviour are predictable‚ planning are essential to predict future market changes and to prepare strategic plan to adopt to the changes. Rational analysis and objective decisions allows achieving long-run successes and avoid failures. The Evolutionary approach – more fatalistic approach‚ seeing the business environment as a jungle in which the main aim of an organisation is to survive by being efficient. Business processes and competition
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The Business Environment and the AIS An AIS does not exist in a vacuum; rather it is an integral part of the firm it serves. The AIS has close relationship with the organization of the firm and its physical operations or process. The firm itself is a system with its own environment. Many of the business and accounting events that are captured and processed by the AIS arise within the environment of the business firm. There are three subsystem of the firm: organizational‚ operational and information
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30th May Thursday 11-12 (replacement) 1b) Negligence misrep – For this‚ the common law negligent misrep is followed- i.e. that is duty of care‚ “special relationship” ‚ breach of standard of care‚ causation‚ and remoteness. 1c) Duress is pressure exerted by one person to coerce (influence someone to do smth) another to contract on particular terms. The main types are duress of the person “actual or threatened violence or unlawful imprisonment”‚ duress of goods “wrongful detaining‚ damaging or
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2. State whether the following provisions in a note impair or preclude negotiability‚ the instrument in each instance being otherwise in proper form. Answer each statement with either “Negotiable” or Nonnegotiable” and explain why. A. A note signed by Henry Brown in the trade name of the Quality Store. Nonnegotiable‚ no fixed amount. B. A note for $850‚ payable to the order of TV Products Company‚ “If‚ but only if‚ the color television set for which this note is given proves entirely satisfactory
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