Fixed-Price Contract or Cost-Reimbursement Contract Willie Glover BUS 501 February 20‚ 2011 Dr. Nick Nayak Abstract Fixed-price contracts and cost-reimbursements are two different forms of contracts used by the federal government while determining contract pricing. Contracting officers may use either when contracting however there are several types of fixed-price contracts. Fixed-price type of contracts provide for a firm price or an adjustable price. Fixed-price contracts consist of firm-fixed-price
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P3: Describe how two businesses are organised Tesco Purpose the first business that I have chosen is Tesco PLC. Tesco’s purpose is to serve its customers. The primary function of any business is to make money and invest; if it doesn’t do that‚ it can’t exist. Tesco is a major retailer in grocery and general retailing. As Tesco is a profit-based business‚ it maximises their sales and profit‚ expanding to maintain its competitiveness in addition to outshining competitor. It also focuses on
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Definition The psychological contract has been defined as ’A set of unwritten reciprocal expectations between an individual employee and the organization’ (Schein‚ 1978) and ’…the perceptions of the two parties‚ employee and employer‚ of what their mutual obligations are towards each other’ (Guest and Conway 2002). According to Schein (1978)‚ the expectations between the organization and the individual employee do not only cover how much work is to be performed for how much pay‚ but also a whole set
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ASPECTS OF CONTRACT AND NEGLIGENCE OF BUSINESS Task: 1.1: Explain the importance of the essential elements required for the information of a valid contract? Offer A valid offer identifies the bargained-for exchange between the parties and creates a power of acceptance in the party to whom the offer is made. The communication by one party known as the offeror to the another party called the offeree b) Acceptance To constitute a contract‚ there must be an acceptance of the offer
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The New Deal: Relief‚ Recover‚ and Reform Franklin Delano Roosevelt once said‚ “The only thing we have to fear is fear itself.” Roosevelt was elected president after the United States of America had went through a national depression. How was he supposed to revive the country from the previous presidents‚ Herbert Hoover‚ failure to respond to human suffering (Faragher)? It was expected that the citizens of America would fear that another president would harm their country more. Franklin Delano Roosevelt
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of a Contract “A contract is an agreement that can be enforced in court. It is formed by two or more parties who agree to perform or to refrain from performing some act now or in the future.” (pg 208) Recently I was faced with a situation regarding a contract that was not in writing and I had to explain that as long as a verbal contract contains the four essential elements of a contract it is binding. We are so accustomed to seeing contracts in writing that many people assume that a contract must
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Contract Negotiation ACM 397 Contract Negotiation The section of the book that I found most informative and took the most out of was Part 1‚ Chapters 1-5. Part 1 covers the nature of negotiation‚ preparation of negotiations‚ distributive bargaining‚ integrative negotiation‚ and closing deals. Negotiation is a process in which individuals with differing viewpoints work together to come up with a solution that can work for both parties. Negotiation is a huge part of our everyday live. It is
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Partner of Selvasingam Consultants(selvaass.com)‚ who consults on regional and global promotional strategies‚ and an authorised promoter of the PR Newswire Asia: Q: Can you explain what PR Newswire Asia and its services are about? A: PR Newswire Asia (en.prnasia.com) is the Asian arm of the PR Newswire (www.prnewswire.com)‚ the global leader in news and information distribution services. PR Newswire is the premier global provider of multimedia platforms that enable marketers‚ corporate communicators
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of the essential elements required for the formation of a valid contract in the following situations: P1.1 1. Temporary daily wages Worker doing work and following instructions from the supervisor 2. Tenant staying in an apartment 3. Contractor working on project site 4. Customer in an Amusement Park 5. Buyer and Seller of Consumer Product like Body Lotion Guidelines: You need to specify the essentials of the contract like written terms‚ verbal‚ implied etc‚ terms & conditions‚ validity
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Law assignment Name: Chang Jun Han Student ID Number: Identification card number : Group : Lecturer’s name: The issue in this case deals with invatition to treat ‚ offer ‚ counter-offer ‚ conditional acceptance and acceptance . It also deals with the elements of valid contract. General rule for a binding contract is an offer and an acceptance of the proposal. There must be effective communication to the proposer. It is very important to differeciate a proposal from an invitation to
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