Business 1050 Fall 2012 What Does Capitalism Mean in Business? Capitalism can be defined as the “ideal” economic environment for business as it benefits society in many ways. Some of these are freedom‚ productivity‚ ingenuity and equality. Capitalism also relies on basic instinct‚ is constitutionally sound‚ and stimulates economic growth. I make an important distinction between “ideal capitalism‚” a term used by Karl Marks and others as an endorsement of communism and modern day capitalism
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In today’s fast-paced economy‚ organizations are seeking new ways to streamline the business processes to reduce work duration and costs. The reason is internet. The changing communication and data transfer technologies of the internet today are advanced the way many companies do business. Depending on the nature of the organization‚ the benefits of internet presence will vary. The advantages benefits for business organization from using the internet are: EXPAND REACHABLE MARKETS Marketing on
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The Institute of Chartered Accountants of Pakistan Auditing Intermediate Examination Autumn 2012 Module D Q.1 5 September 2012 100 marks - 3 hours Additional reading time – 15 minutes Shahrukh and Company‚ Chartered Accountants‚ have conducted the statutory audit of the financial statements of Karim Limited‚ a listed company‚ for the year ended 30 June 2012 under the Companies Ordinance‚ 1984. The job incharge has drafted the following audit report: Auditors’ Report to the Members We have
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intention Introduction Contractual certainty If businessmen are often not overly-concerned with the niceties of offer and acceptance it follows that their contracts may not be all-embracing and complete in every respect. The parties may have reached an agreement in principle and then prefer to rely on experience from previous dealings‚ business practice and goodwill. The law’s overall policy is to uphold bargains wherever possible and although businessmen tend to record their agreements in ‘crude
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1.0 Contracts and its Elements 1.1 Essentials of a Contract Contracts form part of our daily life e.g. lease of house‚ sale/purchase of cars‚ etc. However‚ there are elements essential to form a contract. These are: 1.1.1 Offer/Invitation MacMillan & Stone (2004) described offer as “an expression of willingness to contract on certain terms. It must be made with the intention that it will become binding upon acceptance. There must be no further negotiations or discussions required.” This can be
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Introduction: The question of whether contract law can absorb technological change without the need for distinctive guidelines‚ presuppositions or similar rules is highly dependent on the effects of the amendments to the Electronic Transactions Act 2000 (NSW) (“ETA”). The impact of the ETA on traditional common law principles varies depending on the level of certainty and predictability available in the circumstances and how the law applies. The suitable amount of consistency is likely to vary
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Classification of Contracts (7 – 1.30) Simple and formal contracts A formal contract is a written contract (such as a deed). A simple contract can be entirely orally or a combination of oral and written. Bilateral Contract: exchange of promise – one promise for another (a promisee’s promise in return for the promisor’s promise or vice versa) o Union Dominions Trust (Commercial) Ltd v Eagle Aircraft Services Ltd [1968] 1 All ER 104 at 108‚ Lord Diplock Unilateral Contract: A one way
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CONTRACT LAW- EXAM NOTES What is a contract? An oral or written agreement between two or more parties which is enforceable by law. This agreement ‘will be legally binding if certain criteria are met – briefly‚ they require that there be an agreement (comprising an offer and acceptance)‚ consideration‚ intention to create legal relations‚ compliance with any formalities required by law and that the parties have the legal capacity to contract’1 What is the purpose of contract law
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distinguished from offers because they contain no demonstration of present intent to form contractual relations. No contract is formed when prospective purchasers respond to such terms‚ as they are merely invitations or requests for an offer. Unless this interpretation is employed‚ any person in a position similar to a seller who advertises goods in any medium would be liable for numerous contracts when there is usually a limited quantity of merchandise for sale. An advertisement‚ price quotation‚ or catalogue
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Unit 4: Marketing Principles Section 4: Understand and use the marketing mix in different contexts * Plan marketing mixes for two different segments in the consumer markets To enable an explanation of the use of marketing mixes for two segments in the consumer market‚ it is intended to use a food product which is entering a competitive UK market. In this case‚ it is intended to concentrate on two diverse products: 1. Low salt and fat cheddar (blocks) 2. Handy sealed multi packs each
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