A futures contract is a commitment to make or take delivery of a specific quantity of a commodity or other financial obligation at a predetermined place and time in the future. All terms of the contract are standardized and established beforehand‚ except for the price‚ which is determined by open outcry in a pit or ring on the exchange trading floor of a commodity exchange. All contracts ultimately are settled either through liquidation (by offsetting purchases or sales) or by the delivery of the
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breech of contract The Breach Of Contract Joseph Ragisoa Business Law I Professor Leah Westerman August 12‚ 1013 The Breach Of Contract There are many ways to terminate the obligations of a contract. Most often‚ parties conclude their contract obligations by performing them. However‚ sometimes problems arise and parties cannot or will not complete their obligations under the contract. When this occurs‚ contracts may be terminated by reasons of rescission‚ breach‚ or impossibility
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I- TITLE THE BIG SQUEEZE ON WORKERS II- SUMMARY Spina says the downturn has force him to work even longer hours than he did during the boom-- about 15% more. The added hustling is one reason his team has racked up revenue gains of 46% this year in an abysmal ad market. “They’re working longer and harder.” says Spina. Although recessions usually bring slides in this efficiency measure‚ the fourth quarters outstanding 5% gain gave more credibility to the idea that technology has made the economy
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TYPES OF CONTRACTS The risk shared between the buyer and seller is determined by the contract type. Although the firm-fixedprice type of contractual arrangement is typically the preferred type which is encouraged and often demanded by most organizations‚ there are times when another contract form may be in the best interests of the project. If a contract type other than fixed-price is intended‚ it is incumbent on the project team to justify its use. The type of contract to be used and the specific
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Types of Contracts [pic] Choosing type appropriate contract type is essential to successful performance under a contract. The type of contract determines the cost and performance risks which are placed on the contractor. There are two broad contract groups--fixed price and cost reimbursement. Within each of these groups‚ there are various types of contracts which can be used individually or in combination. [pic] Firm Fixed Price Contracts [pic] This type of contract requires the contractor
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What is a contract? A business contract is a legally binding agreement between two or more parties to do or not to do certain things. For example‚ a business contract could be for the sale of goods or supply of services at a certain price. There are many different types of contracts including: the sale and purchase of a business agreement; partnership agreements; leases of business premises; leases of plant and equipment; and employment agreements. The process for creating a contract generally
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Case 36.11 : Business Ethics John A. Goodman was a real estate salesman in the state of Washington. Goodman sold to Darden‚ Doman & Stafford Associates (DDS)‚ a general partnership n apartment building that needed extensive renovation. Goodman represented that he personally had experience in renovation work. During the course of negotiations on a renovation contract‚ Goodman informed the managing partner of DDS that he would be forming a corporation to do the work. A contract wa executed in August
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Coursework Case Study Name: Yazhou Xiao Student No: 10408026 Date: 01/11/2012 Module Code: M5213 Tutor: Geoffrey Farmiloe This essay will aim to discuss the actions of Harvester Agricultural Machinery Co Ltd. In this case‚ the freight forwarding agent ‘Polaris Logistics PLC’ made an oral assurance with the importers (Harvester)‚ but in once transport the Polaris breach the assurance and two
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into contract. Most people believe that minors’ are considered incompetent. It is said that if a person does not have the mental capacity to understand a that a contract is being made or the general nature of the contract‚ the person lacks contractual capacity. So then why would someone enter a contract with one. That is why I would have to say the first advantage is that most minors’ which means anyone under the age of 18‚ are allowed to enter into contracts. However‚ minors’ contracts are
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Contract between MAANO TECHNICAL SERVICES CC (Builder) Represented by Mr. Herman Lukas And Mr. Joao de Sousa Satata (Client) Represented by Mr. Zenildo Calueto For THE CONSTRUCTION OF AN OUTBUILDING AT ERF 1387‚ MOUNTAIN THORN STREET‚ DORADO PARK‚ WINDHOEK – NAMIBIA. CONTRACT BETWWEN THE OWNER AND THE BUILDER CONTENTS SECTION 1. Articles of Agreement. SECTION 2. General Information. SECTION 3. Standard Conditions of Contract. Section 1 ARTICLES OF AGREEMENT ARTICLES OF
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