contract is a legally binding agreement. Stated another way‚ "a contract is a promise or a set of promises for the breach of which the law gives a remedy‚ or the performance of which the law in some way recognizes as a duty." (Restatement‚ Contracts‚ 2d) study hint. The essence of a contract is that (1) by mutual agreement (2) parties create obligations that can be legally enforced. 2. ELEMENTS OF A CONTRACT Elements of a valid contract are: (1) an agreement; (2) competent parties; (3)
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Starbucks Case Facts: * Founded in 1987 in Seattle‚ Wash by Howard Shultz * World premier roaster and retailer of specialty coffees * As of April 2010: 8‚812 company owned stores‚ and 7‚852 licensed stores in more than 50 countries and annual sales of about $10 bil Company Background * Start in 1971‚ 3 academics: Jerry Baldwin‚ Zev Siegal‚ and Gordon Bowker opened Starbucks in the touristy Pikes Place Market in Seattle each invested $1‚350 and borrowed $5K from the bank
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Team Project Contract-Lease Assignment This Residential Lease Agreement (hereinafter “Lease”) is entered into this the 10-01-11‚ by and between the Lessor: George Murphy‚ (hereinafter referred to as “Landlord”)‚ and the Lessee(s): Benjamin Potter for the Potter Corporation. All Lessees (hereinafter referred to collectively as “Tenant”)‚ are jointly‚ severally and individually bound by‚ and liable under‚ the terms and conditions of this Lease. 1. GRANT OF LEASE: Landlord does hereby
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contractual legal agreements that were drawn when starting such a business. This agreement must be legally enforceable between two partners. Besides legal aspects of international business‚ one also needs to consider the cultural and ethical differences inherent in such business transactions that may affect business in the long-run There are many factors that work against foreign international business‚ in this case Cadmex ’s Pharmaceutical company being granted licensing agreement. Of importance is
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Arbitration Agreement between the parties prior to the emergence of the dispute. As per Section 7‚ such an agreement must be in writing. The contract regarding which the dispute exists‚ must either contain an arbitration clause or must refer to a separate document signed by the parties containing the arbitration agreement. The existence of an arbitration agreement can also be inferred by written correspondence such as letters‚ talex‚ or telegrams which provide a record of the agreement. An exchange
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Case Study #3: Distribution Agreement Shed some light Raynonplus is a small‚ family-owned eyewear business located in Ottawa‚ Ontario‚ Canada. Started by Pierre Dupuis in 1952 under the name of Visionplus‚ the company has been exclusively owned and operated by the Dupuis family for over 50 years. Currently‚ the business—a sole proprietorship—is owned and managed by Gerald Dupuis‚ grandson of the original entrepreneur. The Dupuis’ changed the business name in 1957 to capitalize on a trend
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Starbucks Transnational corporations have had a tremendous impact on the interconnectivity that between countries‚ corporations‚ and people on a global landscape. Fueled by capitalistic ideals of increasing profits numerous corporations have expanded there operations into the global marketplace‚ some with much more success than others. One such transnational corporation that has embodied this pursuit of expansion in domestic and foreign markets for profit is the Starbucks Coffee Company. This
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Starbucks Corporation: A Business Analysis Introduction Starbucks has built its reputation to be considered as an innovative connoisseur of gourmet beverages. Starbucks strives to provide a genuine‚ artistry atmosphere to communities seeking to indulge in high quality gourmet products ranging from coffee‚ tea and pastries. Starbucks mission statement "seeks to inspire and nurture the human spirit-one person‚ one cup and one neighborhood at a time." (“Mission Statement | Starbucks Coffee Company”)
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The Effect of the Slave Trade on West Africa NAME: CHRISTAL BENJAMIN QUESTION: WHAT WERE THE SOCIAL‚ ECONOMIC AND POLITICAL EFFECTS OF THE SLAVE TRADE ON WEST AFRICA The Social‚ Economic and Political Effects of the Slave Trade On West Africa The trade of West African slaves for European commodities began in the fifteenth century. From its inception up to the late seventeenth century‚ the scale of the slave trade could be considered quite small when compared to the dramatic
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An offset agreement is a stipulation made between a foreign supplier and a company which requires the supplier to purchase a certain amount of goods from that country in exchange for a contract. Offset agreements can be direct or indirect‚ depending on what raw materials the country may have. These agreements are often required in order to award a foreign contract to a large company producing valuable goods. A direct offset agreement means that the supplier has agreed to buy something from the
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