used was in currency. There was an official Aztec document saying a list of price equivalents. Next‚ a descendant of Mayans‚ the Kekchi Mayans presented crates of chocolate to Prince Philip. It was all frothed and ready to drunk by the Europeans. When Swedish botanist Carolus Linnaeus classified the “cocoa bean” he gave it the scientific name of Theobroma which meant “food of the gods’” in Greek. Another manufacturer‚ Coenrad Van Houten‚ produced a way for making chocolate powder. He did it using
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FORMATION OF A CONTRACT OFFER AND ACCEPTANCE For a contract to be valid‚ firstly there must be an AGREEMENT between the parties i.e. one party must make an OFFER which is UNCONDITIONALLY ACCEPTED by the other. OFFER What is an offer ? An offer is a promise that the person making the offer (known as the offeror) is prepared to be legally bound upon specified terms – he is making a statement of the terms on which he is prepared to be legally bound‚ for example A
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contract/agreement. Parties buy/sell new oats. Seller sold new oats while buyer wanted old oats. RTS v Molkerai (2010) UKSC 14 → that the courts have not diverged from viewing contract objectively. not (depending) upon their subjective state of mind‚ Why objective view? Because sometimes parties forget‚ or get confused about their intentions at the time the contract was negotiated. Parties may not mean what they say. Promotes certainty and reasonable reliance. (parties will be able to rely on the
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A legally enforceable agreement‚ or a contract‚ can be broken down in to five elements; offer‚ acceptance‚ consideration‚ capacity to contract and intention to create legal relations. In this scenario there doesn’t appear to be an issue with capacity to contract and intention to create legal relations‚ so we can assume that they are both satisfied. The issues concerning this scenario are the concept of an offer‚ acceptance and consideration. When looking at the issues and assessing them‚ the objective
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competitive forces seem to have the greatest effect on industry attractiveness? What are the competitive weapons that rivals are using to try to outmaneuver one another in the marketplace? Is the pace of rivalry quickening and becoming more intense? Why or why not? The competition is fierce since the growth is slowing; the competitive force that has the greatest effect on attractiveness is barriers to entry. The regulations that have been passed make it difficult for a company to enter the industry
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an Italian pasta manufacturer‚ is experiencing greater levels of inefficiencies and rising costs due to variability in demand from its distributors. In order to restore things to order and to improve margins‚ Giorgio Magialli‚ the Director of Logistics at Barilla wants to implement a Just-In-Time Distribution (JITD) system that was proposed by his predecessor Brando Vitali. This system is completely different from the existing setup and is being opposed by both the distributors and Barilla’s Sales
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Amazon.com: An E-Commerce Retailer A case report prepared for Professor Stroud MG 495/DLD Business Policy Fall I 2011 August 21‚ 2011 THE WALT DISNEY COMPANY CORPORATE STRATEGY I. INTRODUCTION A. Executive Summary 1. Summary statement of the problem: Considered to be the premier online retailers in the word‚ Amazon.com has had a short life (founded in 1994) but can be proud of the strides it has made. Jeff Bezos‚ founder of Amazon.com‚ had an idea that was rejected by his
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• Agreement (Offer and Acceptance) • Consideration • Intention to create legal relations All three scenarios are supported by “consideration”. The general idea of consideration is that contracts involve an exchange in which both parties give something in exchange for the promise of the other. John offers his car in exchange for 10000 euros from Patrick. As the last two steps involved in a contract are met we only look at the agreement‚ if there is an offer and an acceptance
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16 Key Luxury Brand Distributors A round up of sixteen of the most prominent luxury goods distributors‚ including Bosco di Ciliegi‚ Bluebell‚ Swiss Prestige and Chalhoub Group. Despite their inherant focus on brand control‚ luxury manufacturers have commonly relied on local distributors to introduce products to new markets‚ acknowledging that whilst they might know what is best for their brand communications‚ design and development‚ they may not necessarily understand local cultures‚ retail climates
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growth which is twice the overall export growth of Pakistan. Basic Chemical manufacturer may be defined as production of drugs and chemical by synthesis‚ fermentation or extraction from naturally occurring materials of biological or mineral origin. Unfortunately‚ while the pharmaceutical formulation industry has grown at a relatively rapidly pace‚ the basic chemical industry in Pakistan has lagged behind. Basic manufacturer is dependent upon a reasonably well-developed petrochemical industry. The
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