Question 1 (5 points) 1. Which of the following may lead to vertical integration? a) Technological interdependencies b) Reduced search and bargaining cost c) The hold-up problem d) All of the above Question 2 (5 points) Effective collusion generally is more difficult when a) the number of oligopolistic firms involved decreases b) the number of oligopolistic firms involved increases c) when customer orders are small‚ frequent‚ and received on a regular basis as compared
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yet it was only the beginning of the quarrel between President Wilson and the American people over the Treaty of Versailles. Beforehand‚ Wilson had delivered the Fourteen Points Address to Congress January 8th declaring World War 1 as a moral cause and struggle for peace. Wilson mentioned fourteen points. Notably‚ the 14th point foreshadowed the concept of the League of Nations which would later be reintroduced as Wilson’s Ultimate goal to establish during the Paris Conference. Contrary to his goal
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Hugh Cecil‚ Winston Churchill said‚ “I am an English Liberal. I hate the Tory Party‚ their men‚ their words and their methods.” This statement encompasses Churchill’s political career during the early 1900s. Churchill followed his father into politics; Lord Randolph Henry Spencer-Churchill was a conservative politician‚ which motivated Churchill to join the Tory party. However‚ the Conservative party was moving away from what Churchill had always understood it to be. While Churchill was earning the reputation
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Introduction A contract is defined as an agreement enforceable by law. Hence for all contracts there should have an agreement. The agreement arises by one of the parties making an offer and its acceptance by the other party. Both offer and acceptance create an agreement. In simple contract should first contain an offer made by one party to the other. What is an offer? As per Sec 2(a) of the contract act “When one person signifies to another his
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Introduction A contract is formed when one of the parties has to accept an offer made by the other. Here‚ David places an advertisement in the local newspaper of a reward‚ £1000 for the safe return of each of his six cats. This shows he is making an offer to all the readers of the Daily Bungle. An offer is defined as follows: “An offer is a statement of the terms upon which the offeror is prepared to be bound if acceptance is communicated while the offer remains alive1.” The critical aspect of
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redeem himself by winning the kite tournament and taking the winning kite to Baba. Secondly‚ when Amir stood back and did not help Hassan when he was being raped. I believe this was the turning point in Amir’s life. Even after the sexual assault to Hassan‚ Amir never acknowledged the incident to Hassan or provided support to Hassan. This one choice changed his life forever‚ confirming what his father had stated‚ “A boy who won’t stand up for himself becomes a man who can’t stand up to anything” (Hosseini
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4. NOTES 4.1. THE ESSENTIALS OF A VALID CONTRACT A. ESSENTIAL No 1 The Parties Must Act Within Their Contractual Capacity What is contractual capacity? We view it in relation to the concepts of personality and legal status: PERSONALITY – determines that you are a legal entity or persona. As a result of this personality you acquire legal status ie your legal status defines that legal personality further. STATUS then describes your legal “condition” eg a married woman‚ A public
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A valid contract consists of all essential components which present and the court will enforce as a legally binding promise . One of the elements contract to create a contract is agreement which included an offer and acceptance. “Acceptance is a final and unqualified assent to the terms of the offer‚ made in the manner specified or indicated by the offeror” . Acceptance may be express orally‚ in writing‚ occasionally‚ or even by implied from the offeree’s conduct. In communication of acceptance‚
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Through this‚ Europeans negatively affected the lives of the Native Americans. The Indians’ contact with the settlers lead to displacement and death by means of disease and warfare. American Indians had a way of life that was not wasteful. They only used what nature
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Nd Contracts Outline Professor Murray 1. Contract Remedies (Chapter One) What is a contract?- promise or set of promises‚ for breach of which the law gives a remedy or the performance of which the law recognizes as a duty. Types of contracts- a. express: formed by language‚ oral or written b. implied: formed by manifestations of assent other than oral or written language; by conduct. c. quasi: not contracts at all‚ construed by courts to avoid unjust enrichment‚ by permitting plaintiff
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