Role and Function of Law Law/ 421 January 11‚ 2013 Professor Gary Matano The law plays an important role in business and society. The law imposes rules and regulation that carry out the moral standards of business and society. The laws help maintain the policies and ethical conduct of individuals‚ groups‚ and corporations run smoothly. In business law can build goodwill between merchants and consumers. This should be considered in commercial
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Week 3 – The Balanced Scorecard – Kaplan and Norton Squeaky Brakes focused mainly on financial perspective of our business‚ ignoring operational aspects. However‚ Kaplan and Norton suggest that there are four perspectives‚ which must be considered. * How do customers see us? (customer perspective) * What must we excel at? (internal perspective) * Can we continue to improve and create value? (innovation and learning perspective) * How do we look to shareholders? (financial perspective)
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Contract Law – Formative Assessment Alex would be suing Betty for a breach of contract. He would only succeed if he’s able to prove that a contract was in place. A contract can be defined as “a written or spoken agreement that is intended to be enforceable by law.” In order for it to be formed‚ agreement must take place and it can be broken down into two elements. Firstly‚ an offer. This can be described as an expression of willingness to contract on clear terms‚ with the intention that it will
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However James informed him that he has sold the aluminium BMW lightweight motorbike and now he has only a racing motorbike available for sale for RM220‚000.00. Advise Dahari. (Total: 20 marks) Question 1 is about the law contract it entails issues regarding an invitation to treat (ITT)‚ the fact shows that James has placed an advertisement at the Star newspaper for the sale of his BMW motorbike. This is advertisement is not an offer‚ it had similar with the cases of
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The action failed because there was no indication that the arrangement was intended to be a contract. .1 Difference between the Tortuous Liability and Contractual Liability. 3.1.1 Contract Law Contract law is that body of rules that govern contractual agreements between persons or merchants. Contract laws outline what a person can or cannot include in a contract‚ and what the remedies are if a party breaches their contractual duties. For example: Silva contracts with James to purchase a van for
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compared to previous years to indicate if the business is growing or declining in sales. If the profit has increased than that means that the business has increased the amount of products sold before expenses are taken away. SIGNature’s gross profit was 57.70%. This is a reasonably high percentage this is an indicator that the economy may be good and the customers have more disposable income to spend. For Rhiannon this is a good indicator that her business in making a decent profit. Net profit percentage
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Comprehensive Problem 67 (Ch. 5) Ken is 63 years old and unmarried. He retired at age 55 when he sold his business‚ Understock.com. Though Ken is retired‚ he is still very active. Ken reported the following financial information this year. Assume Ken’s modified adjusted gross income for purposes of the bond interest exclusion and for determining the taxability of his Social Security benefits is $70‚000 and that Ken files as a single taxpayer. Determine Ken’s 2009 gross income. a. Ken won $1
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Sterling computer has entered into a partnership with NoBugs a microchip processing computer. The collaboration was developing into a something successful until an incident put a strain in the business relationship. Some month ago Sterling computer has had several of their computers explode shortly after customers install them. Upon an investigation which was conducted by Sterling researchers have discovered evidence of NoBugs’s microchips aggravating a dormant defect in their computers‚ causing
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a new dress‚ shoes and accessories for the date. He does not turn up and does not text you with an explanation. Can you sue him? If so‚ why? If not‚ why not? She would be unable to sue him as this is a social agreement which is unenforceable by law. Neither party has entered into a legally binding contract. Should you chose to break such an agreement‚ the consequences will be no more serious than upsetting or dissappointing your friends. This is similar to the case of Spellman v Spellman‚ in
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contract principals‚ performance‚ competition‚ termination‚ exposure‚ changes and enforcement. In my opinion‚ the most important tips involve performance. These are the most important details in a contract and need to be addressed carefully. Question 3: The article points out that “any ambiguity in an agreement is construed against the party drafting it.” Is this fair? Explain. I think it’s fair if you include a provision stating that the agreement will be interpreted as if drafted by both parties
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