A contract intends to formalize an agreement of two or more parties‚ in relation to a particular subject. Contracts can cover an extremely broad range of matters including the sale of goods or real property‚ the terms of employment or of an independent contractor relationship‚ the settlement of a dispute and ownership of intellectual property developed as part of work for hire. Essential Elements of a Contract * Clear certain and communicated agreement. Meaning that the parties are consensus
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THERE ARE 7 ELEMENTS WHICH ARE REQUIRED FOR THERE TO BE A VALID CONTRACT. LIST AND DISCUSS THEM AND SAY WHAT HAPPENS IF ANY ONE OF THE ELEMENTS IS MISSING. All agreements are not contracts. A contract is a legally binding agreement between two or more parties. An agreement that is not enforceable by law is not considered a contract. There are many elements that are required for a contract valid‚ offer and acceptance‚ intention to create legal relationship‚ capacity of the parties‚ consent‚ consideration
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What is the Full Employment Rate of Unemployment? Full employment‚ or the natural rate of unemployment‚ is considered to be consistent with a level of unemployment that predominantly comprises voluntarily unemployed workers. In other words‚ those members of the labor force who really want a job have one. Leaving the nuances of who is part of the labor force for the main text‚ the rate of unemployment consistent with full employment is a major issue for economic policymakers. Small differences
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Contract Law Name BUS 311 Business Law I Professor Date The law of contracts has been a part of our culture for a long time. Contracts are an agreement‚ either written or spoken‚ with a company or person to do something that is agreed upon with binding terms. Contracts are the glue that keeps the world of business together. They bind employees and companies‚ consumers and producers‚ and suppliers and wholesalers. A contract can vary from country to region or even jurisdiction‚ but a
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dealing with an unpredictable and uncertain environment. The aim of this paper is to provide a clear demonstration of appropriate theoretical frameworks in relation to corporate culture; with the concentration on analysing its positive and negative influences on the success of organisations in the hotel industry. To demonstrate some of the points‚ issues regarding the Disneyland Hotels will be used as examples. As Schein states‚ “culture is both a dynamic phenomenon that surrounds us at all times
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Review Questions Topic 2: The Nature of the Employment Relationship 1. Why is the employment relationship interdependent? In order to tap the creative and productive powers of workers‚ employers cannot treat them as any other market commodity. Employees can always bargain with their compliance‚ commitment and effort. Hence‚ to some extent‚ employers must seek a cooperative relationship with their workers in order to gain their consent to managerial directives. Employees‚ on the other hand‚ are also
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Determining Financial Viability Determining an organization’s financial viability is crucial to the short and long term financial success of the business. Having the organization’s finances in order allows the organization to understand the money that they have on hand‚ the equity of the business‚ and left over funds for other expenses. There are a number of financial factors that go together to determine the viability of a business. The relationship between accounting and the main financial department
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UCC mandates that the parties to a sales contract state in specific and unambiguous language the exact terms of the contract. Otherwise‚ courts will declare the contract unenforceable. True False 2. Law of sale of goods codified in the Art.2 of the UCC is modified to accommodate current practices of the merchants. True False 3. In mixed goods-services situations‚ courts determine whether the contract is for the sale of goods by determining whether the good or the service is the dominant
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to Muslims 3. Describe the hierarchy of courts in Malaysia and discuss its establishment and composition. Federal Court: 5 or 7 judges Court of Appeal: 3 judges High Court of Malaya: 1 judge Sessions Court: 1 judge Magistrates’ Court: 1 judge High Court of Sabah and Sarawak: 1 judge Sessions Court: 1 judge Magistrates’ Court: 1 judge 4. In Malaysia‚ federal laws are made by parliament. Explain clearly the process by which such laws are made. First Reading When a bill is first
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EMPLOYMENT The next critical issue is Employment. We see employment as an issue because McDonalds though it employs over a million people has gotten a bad reputation as an employer. This is because employees are seen as expendable and made to work long hours for low wages and under bad conditions. They are hired to do task that require them to follow already set exact programs that tell them when to do every task. This means there is very little room for individualism and still building (2)
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