requirements for a valid contract. A contract is an exchange of promises between two or more parties to do or refrain from doing an act which is enforceable in a court of law. www.wikipedi.org A contract is a binding agreement between two or more people stating to do something or refrain from doing something. Not all agreements are classified as contracts. A contract is known as an acceptance or offer enforced by law between two or more people. When creating a contract all people or parties
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1. Shipment or delivery The obligation of Seller to ship or deliver the goods specified on the face of this Contract (“Goods”) by the time or within the period specified on the face of this Contract shall be subject to the availability of the vessel or the vessel’s space. If‚ under the terms of this Contract‚ Buyer is to secure or arrange for the vessel or vessel’s space‚ Buyer shall secure or arrange for the necessary vessel or vessel’s space on berth terms basis and give Seller shipping
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terms of whether they seem more like “open” or “targeted” recruiting‚ using the information in the book to help you make this decision. If some methods seem more “targeted‚” whom do you think they target? 3. For each division use the data tables provided in Appendix B to estimate how each method fares in terms of yields and costs. Provide a one-page summary of the essential results of the various data tables you have been provided. 4. Northern Oregon has suggested that the other divisions of
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Case Study ‘Blu-ray versus HD-DVD: A Standards Battle in High-Definition Video’ Discussion Questions 1. What factors do you think influenced whether (1) consumers‚ (2) retailers or (3) movie producers supported Blu-ray versus HD-DVD? Every party in this standards battle had its own reasons for chosing one standard over the other. For instance‚ the motives for movie producers to choose Blu-ray were completely different from the motives for consumers to choose Blu-ray. In our opinion‚ the
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INTRODUCTION The law of contract is the collection of legal rules which govern contracts. These rules‚ in turn‚ are part of the law of obligations‚ a subdivision of the law of property which is traditionally regarded as part of private law. Private law governs the persons (legal subject) in their personal or private capacity before the law in relation to other legal subjects. In other word‚ private law can be defined as balance and protect legitimate individual interests. Traditionally private
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Formation of contract The green van Hubert’s initial e-mail is merely an invitation to treat‚ demonstrating only a willingness to negotiate rather than an intention to be bound by acceptance. The response from Philip to Hubert’s preliminary enquiry about the green van is‚ however‚ clearly an offer. There is intention to be bound by acceptance‚ demonstrated by the expression “when do you want it?”‚ combined with identification of the essential elements – the price (£30‚000) and the subjects (the
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contract law agreement: objective test of intention to agree offer must be matched by other’s acceptance requirement of certainty of agreement parties have intention to create legal relations enforce promise: consideration promise is contained in a deed promissory estoppel (claimant has relied on defendant’s promise) reliance theory: consistent with the harm principle (prevent harm on others) restitution interest
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Hoang Thi Thanh Ha - 13200154 Case 14-3 Coconut Telegraph 1. Is Coconut’s February 1‚ 2012‚ arrangement with Buffett within the scope of ASC 985-605? ASC 985 -605 Software — Revenue Recognition “provides guidance on when revenue should be recognized and in what amounts for licensing‚ selling‚ leasing‚ or otherwise marketing computer software.” It defines “ Software arrangements range from those that provide a license for a single software product to those that‚ in addition to the delivery of
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Carlill v. The Carbolic Smoke Ball Company. The case of Carlill v. The Carbolic Smoke Ball Company‚ centred around an advertisement which was placed in the Pall Mall Gazette on November 13‚ 1891. The advertisement was entered by The Carbolic Smoke Ball Company and was promoting a “medical preparation”1 which the company had developed‚ called the Carbolic Smoke Ball. The advertisement clamed that “During the last epidemic of influenza many thousand carbolic smoke balls were sold as preventatives
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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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