CONTRACTS IN BUSINESS On the 10th of September an offer was distinguished between Huddersford Electronics Ltd (HE ltd) and Gem Computer Stores (GCS). The offer was an invitation to treat as there is an entitlement that an offer could accepted and therefore‚ a contract could be formed. An offer is formed as HE ltd posted an offer to sell 10 laptops to GCS‚ keeping the offer open until the 24th September. A statement is made by HE ltd who is giving information to GCS expressing an intention to sell
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Part 1 THE FORMATION OF A CONTRACT There are five basic requirements that need to be satisfied in order to make a contract: ● An agreement between the parties (which is usually shown by the fact that one has made an offer and the other has accepted it). ● An intention to be legally bound by that agreement (often called intent to create legal relations). ● Certainty as to the terms of the agreement. ● Capacity to contract. ● Consideration provided by each of the
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“Freedom of contract is the bedrock of English private law” Freedom of contract is defined as the: “Right of an adult to make a legally binding mutual agreement with one or more other persons‚ without governmental interference as to what type of obligations he or she can take upon himself or herself.”[1] English law has for a while now been known as believing in freedom of contract. This means that the state has not‚ normally‚ enforced legislation which has got in the way when it comes to the
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to be bound by an agreement‚ it must first be determined if a prima facie valid and enforceable contract exists. A contract can be defined as an agreement containing promises made between two or more parties with the intention of creating certain legal rights and obligations and enforceable in a court of law [1]. For a legally binding contract to exist the following elements must be satisfied: 1. An offer must exist 2. The offer must be accepted 3. Consideration must pass between
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1946 1. In Columbia‚ Tennessee the repair of a radio brought national attention to light on the civil rights issue as follows 1954 2. Prior to the United States Supreme Court ruling in Brown v Topeka Board of Education‚ which Tennessee Schools of higher education integrated by admitting Blacks as divinity students Nashville’s Scaritt College and Vanderbilt University Divinity students a decision that changed Nashville’s role in the movement. 1954 3. In Tennessee we had two United
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Case #1‚ Part 1 “Don’t tell me we’ve lost another bid!” exclaimed Sandy Kovallas‚ president of Lenko Products‚ Inc. “I’m afraid so‚” replied Doug Martin‚ the operations vice president. “One of our competitors underbid us by about $10‚000 on the Hastings job.” “I just can’t figure it out‚” said Kovallas. “It seems we’re either too high or get the job or too low to make any money on half the jobs‚ we bid anymore. What’s happened?” Lenko Products manufactures specialized goods to customers’ specifications
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The psychological contract in a changing work environment Annette Sharpe The Work Institute Abstract This paper examines how organisation changes‚ driven by economic‚ social and technological changes at the macro level‚ have impacted on the psychological contract. Whilst criticised for being an ill-defined concept‚ it is usually taken to refer to ’the implicit relationship that exists between individuals and their employer concerning perceived mutual obligations and expectations ’. Although its
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1. I think that Alden need to establish a policies and procedures manual which would inform employees; a. Of the type of source documents individuals must use to record inventory. b. Include the accurate procedures to organize back up data for these documents. c. An inclusive description of the person in charge and responsibility assigned to each person. d. A chart of accounts that is expresses an explanation of each general ledger account so that staff record
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Contract Disputes Vanessa Bray Lee Strayer University BUS501-044 December 9‚ 2011 Dr. William Hadyn Roberts “CONTRACT DISPUTES REACH 15-YEAR HIGH”‚ was the heading of an article published‚ December 1‚ 2010 in the Government Executive. The heading in itself tells us that the government is doing more and more business by contract and as a result contractors who are lobbying for government business have become more aware of their rights to file disputes when it involves a loss of potential
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Marketing case studies explain the purpose of the marketing function and the process of marketing planning. Case study topics covered include: The role of market research in analysing customer requirements SWOT analysis to map strengths‚ take advantage of opportunities or counter threats Setting marketing objectives - product- versus market-orientation Achieving balance in the marketing mix (product‚ price‚ place‚ promotion) to help achieve competitive advantage Which marketing strategies (Ansoff’s
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