Consideration In contract law consideration is concerned with the bargain of the contract. A contract is based on an exchange of promises. Each party to a contract must be both a promisor and a promisee. They must each receive a benefit and each suffer a detriment. This benefit or detriment is referred to as consideration. Consideration must be something of value in the eyes of the law - (Thomas v Thomas). This excludes promises of love and affection‚ gaming and betting etc. A one sided promise
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LAW OF CONTRACT Subject Code : 101 TOPIC : VALUE OF INSUFFICIENCY OF CONSIDERATION IN CONTRACT PRESENTED BY : NAME : Siddharth Dalabehera ROLL : 1283092 COURSE : BA LLB (B) UNDER THE GUIDANCE OF : MS. Jinia Kundu and MR. P. K. Ghosh ACKNOWLEDGMENT I owe a great many thanks to a great many people who helped and supported me during
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1 (a) According to the information from the question‚ Hei Lau’s letter amounted to an offer to sell his second-hand car and the offer would remain open for one week. Although Chiu Chor made the first letter to Hei Lau for inquiring “whether he would take HK$40‚000 for the car”‚ the original offer was still valid because this inquiry was a mere request for information about the offer rather than a counter offer‚ it does not imply a rejection of the offer. An example of a mere request is the case
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Executive Summary The case gives an idea about how the competition influenced Jollibee’s strategy‚ both domestic and international. Jollibee ‚which was a Filipino chain of restaurants‚ wasforced to change their strategy with the entry of McDonalds in Philippines‚ whichlater transformed the company into a global company .The company faced seriouschallenges with their international exposure. The challenges included the conflictswith franchisees/Joint venture and conflicts between divisions. Another
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JOLLIBEE PHILIPPINES BUSINESS PLAN Evelyn A. Gaspar BSBA – IV AM Description of Business Jollibee is a well-known fast-food restaurant in the Philippines offering food great tasting and great value food. It has attained success from its humble beginnings. In 1975‚ Tony tan Caktiong‚ the founder of Jollibee and his family opened up a Magnolia ice cream parlor in Cubao‚ Quezon City. Sometime in 1978‚ Caktiong and his brothersand sisters engaged the services of a management consultant‚ Manuel
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| International Business Case Analysis | Jollibee Foods Corporation (A) International Expansion | | | | | Executive Summary Jollibee Food Corporation is a Filipino fast food brand that opened in 1975 and has been on the path of expansion since then. IT capitalised on the changes that came its way to fight the competition from brands like McDonalds and KFC. The case highlights the global expansion strategy that they followed backfired due to which they had to consider revamping
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Jollibee case study How can companies create value in the Fast Food industry? How was Jollibee able to develop a dominant position in the Philippines? What are Jollibee’s sources of competitive advantage with respect to McDonald in that market? Companies in fast food industry are creating value with: Providing a time constrained customers a good quality food in a clean dining environment at a low price Offering Standardized menus‚ cooked in bulk in advance‚ kept hot‚ packaged‚ and available
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Jollibee and its Strategic control over its subsidiaries International Business and Politics: 2012 Word count: 1583 Pages: 6 1. Introduction Anil K. Gupta and Vijay Govindarajan argue in their article‚ “Knowledge flows and the structure of control within multinational corporations”‚ that mainly all previous research on strategic control within multinational companies (MNCs) has paid attention to why these choose to go abroad. They instead argue that for successful offshore business
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Introduction Consideration is one of the essential elements for a formation of a contract.1 According to Lord Pollock’s definition of consideration which is an act or forbearance of one party‚ or the promise thereof‚ is the price for which the promise of the other is bought and the promise thus given for value is enforceable.2 Besides that‚ consideration must be something of value given or promised in exchange for the promise given by the other party in order for a valid contract to be formed.3
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What were the strategy and competitive advantages of Jollibee in the Philippines? JFC observed that the fast food market in Philippines had a high growth potential. They were the first movers in the market and therefore able to build up brand recognition. JFC’s success could be attributed to its differentiation strategy that created and sustained a competitive advantage especially against McDonalds. The McDonalds was a global giant strictly following the philosophy of standardization especially
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