Contracts Part II Rachel Wellman Unit 5 Case Study Business Law November 6‚ 2010 Millie contracted to sell Frank 10‚000 bushels of corn to be grown on Millie’s farm. Due to a drought during the growing season‚ Millie’s yield was much less than anticipated‚ and she could deliver only 250 bushels to Frank. Frank accepted the lesser amount but sued Millie for breach of contract. Can Millie defend successfully on the basis of outcome impossibility of performance? Explain. Discuss the elements
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$800. An arbitrageur can borrow money at 10% per annum. What should the arbitrageur do? Assume that the cost of storing gold is zero and that gold provides no income. 2. On September 12‚ 2006‚ an investor owns 100 Intel shares. As indicated in the table below‚ the share price is $19.56 and January put option with a strike price of $17.50 costs $0.475. The investor is comparing two alternatives to limit downside risk. The first is to buy 1 January put option contract with a strike price of
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Law | Contract Analysis | Westwood College | Eric Givens 2/12/2013 | Contract Analysis A contract is a legal document between two or more parties. There are several elements that are necessary in order to make a contract enforceable. The specifics of these various elements may differ from state to state‚ but all seven of the elements must be present in order for the contract to exist. As such‚ if one of these elements is missing‚ a contract can be voided and the parties may not be
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psychological contract Revised July 2011 ------------------------------------------------- What is the psychological contract? The term ’psychological contract ’ was first used in the early 1960s but became more popular following the economic downturn in the early 1990s. It has been defined as ’…the perceptions of the two parties‚ employee and employer‚ of what their mutual obligations are towards each other ’1. These obligations will often be informal and imprecise: they may be inferred
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of a Contract Angelique Gares BUS670 Legal Environment Professor Roger Amos May 24‚ 2010 . This paper is a study of the Element of a Contract detailing the essential elements that constitute a legal binding agreement. A contract can be defined as an agreement between two or more persons for example‚ individuals‚ organizations or government agencies and or business‚ to do‚ or to refrain from doing something in exchange for something of value. The text states “to qualify as a contract‚ a set
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Illegal Contractual Terms and Restraints of Trade in Contracts When dealing with contract law‚ many problems can arise. There can be illegal terms in the contract or it can just be void. There are restraints on trade which include limiting employees from competing against their employers post employment and so on. Throughout this essay‚ these restrictions will be analyzed. The difference between illegalities‚ voids and restraints will be presented‚ along with cases to provide examples.
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Aspects of Contract and Negligence for Business Y/601/0563 15 4 Writer of the brief: Internal Verifier name: Mr Alfred Dr. Keith Learning outcomes and criteria covered by this assignment: All pass criteria All merit descriptors All distinction descriptors Key dates: Assignment distribution date to learners: Assignment/Portfolio submission date for TASK 1 & 2: Assignment/Portfolio submission date for TASK 3 & 4: Assignment/Portfolio returns date to learners (if applicable): 13 May 2013
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BREACH OF CONTRACT 1. 2. 3. 4. 5. Default of the debtor (Mora Debitoris) Default of the creditor (Mora Creditoris) Positive malperformance Repudiation Prevention of performance (rendering performance impossible) Default of the debtor (Mora Debitoris) Any obligation under a contract has a time limit for its performance‚ be it an agreed fixed period or in the absence thereof a reasonable period. If the debtor neglects or fails to perform timeously‚ he/she commits breach of contract. Lawyers then
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Contract A contract is a promise between two or more persons involving the exchange of some good or service. Some of the basic elements of a contract include: an offer and an acceptance; "capacity‚" or being of legal age and sound competence; "mutual assent‚" or agreement on the terms of a contract; and "consideration‚" or compensation for goods or services rendered. The element that distinguishes a contract from an informal agreements is that it is legally binding:the law provides
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Critically evaluate the utility of the psychological contract for understanding the contemporary employment relationship. (2500 Words) Introduction Up until the 1990’s the psychological contract didn’t get a lot of research literature‚ whereas more recently it has become increasingly popular‚ and vast in both volume and critique. It is suggested that this blossoming of research is because of fundamental changes in the workplace‚ commonly referred to as the ‘new deal’ (Sparrow 1999). The traditional
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