Offer and acceptance is one the main 7 essentials to create a legally binding contract since a contract is based on agreement. It is also an essential for a court to arbitrate problems. An offer is a manifestation (orally‚ in writing‚ or by conduct) of willingness to enter into bargain‚ which justifies another person’s understanding of assent to that bargain is invited and will conclude the transaction. An Offeror is the party who makes the offer. An offeree is the party who receives the offer and
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Scenario 1 It is always good to have a back-up plan in an emergency or non-emergency. If we apply the scientific method‚ we can solve any and all everyday problems. So it is always good to keep a spare of something that can potentially be lost on a daily basis or give oneself enough time to get ready for an event and have extra time in case of an emergency. Asking Questions Being the type of person that loses things often‚ I have to set all the things I need to walk out of my house with all
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training programs in the community. The purpose of this new program is to equip high school dropouts with necessary skills needed to gain potential employment opportunities. The executive director has to justify the reasoning behind this new program and develop a complete launch plan‚ including a budget and consideration of environmental factors. The executive director must determine how data will be used to support
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Scenario Concept JOSE E ORTIZ ANDINO ADELAIDA TORRES-DILAN ECO/561PR - ECONOMICS Scenario Concept The purpose of this paper is to explain the market equilibrating process in relation to my personal experience supported by academic research. The following factors will be included in my explanation: law of demand and the determinants of demand‚ law of supply and the determinants of supply efficient markets theory and surplus and shortage. Market Equilibrating Process Not since the
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Q1. Understanding the concept of contract is the important thing in answering this question.” A contract may be defined as an agreement between two or more parties that is intended to be legally binding”. This answer will highlight the main points to see the differences between an offer and an invitation to treat.” An offer may be defined as a statement of willingness to contract on specified terms made with the intention that‚ if accepted there will arise a binding contract”. On the
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because the company has not seen this aspect of business in Brazil. Here‚ the company could focus on R&D and other improvement to its machinery to gain competitive advantage. The advantages of this method of entry could be: low capital required‚ low risk‚ manageable exit strategy‚ easy to structure and direct the process. The disadvantages of this method could be: the Company could lose some control due to lack of international experience‚ difficult to account for the cultural and differences in quality
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Rules of Offer and Acceptance are applied to enforce an agreement by the law. This agreement is the first requisite of any contract of the business. In order to a contract come into being between parties‚ the offer is made by the offeror and the oferee accept that offer. In 21st century‚ there are rapid changes in business trend which create lots of new business model such as e-business and global business. The more business participates‚ the more requirements of Offer and Acceptance Rules to adapt to
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Offer and Acceptance Offer and acceptance are elements required for the formation of a legally binding contract‚ the expression of an offer to contract on certain terms by one person (the "offeror") to another person (the "offeree")‚ and an indication by the offeree of its acceptance of those terms. The other elements traditionally required for a legally binding contract are (i) consideration and (ii) an intention to create legal relations. Offer and acceptance analysis is a traditional approach
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Eskom Transmission and lies partly in the users’ acceptance and willingness to use TAMS. Understanding why employees accept or reject information technology is one of the most important issues in information system research. The technology usage and its effective implementation depends upon users‚ having positive attitude towards it. Although the number of registered users of the system has grown recently‚ there is some evidence that TAMS acceptance is faced with problems. This evidence is supported
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Sarah is a fifteen year old student as told from the paper scenario. In my opinion‚ Sarah comes from a good home and is brought up well with core values‚ such as a nightly curfew. This information tells me that she has been brought up with nature and nurture characteristics. Clearly Sarah is an intellectual female and seems to have an extroverted persona. So here is the issue‚ Sarah meets a new group of individuals who want her to join them for a party. That will put Sarah in a position to
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