and therefore contract terms. The team also weighed the cost of new machines against capital for inventory and interest rates‚ evaluating the return on investment and the impact a new machine had on lead times. Using this consideration set‚ team Honeybadgers purchased one tuning machine‚ one stuffing machine‚ and changed the contract terms on ten occasions. Ultimately‚ the team placed 5th. ------------------------------------------------- Actions & Analysis Changing Contract Terms: A 7 day
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He contacts Randy explain the situation wanting to return the watches and reimburse Randy for shipping costs. Randy in turn sues to enforce the original contract. Issue: The issue is whether the Illinois UCC Statute of Frauds deems contract unenforceable because it was never reduced to writing. Law: Under UCC §2-201 (3a)‚ “A contract that does not satisfy the requirements of subsection 1‚ but which is valid in other respects is enforceable: if the goods are to be specially manufactured for
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‘‘Psychological contract’ is defined as the implied obligations of parties in the employment relationship.’ Rousseau (1995) A psychological contract measures employee performance‚ attitudes and the well being of employees. It has proved to be an important aspect of a work place. It looks at the seriousness of situations by both employers and employees by looking at the effect it has on worker behavioural patterns. The process of forming a psychological contract is simply
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ACCOUNTING CHANGES AND ERROR ANALYSIS TRUE-FALSE—Conceptual Answer F T F T F T T T F T F F T F T T F F T T No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Description Change in accounting estimate. Errors in financial statements. Adoption of a new principle. Retrospective application of accounting principle. Reporting cumulative effect of change in principle. Disclosure requirements for a change in principle. Indirect effect of an accounting change. Retrospective
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A PROJECT REPORT ON AN ANALYTICL STUDY OF DERIVATIVES IN FUTURES WITH REFERENCE TO UNICON SECURITIES Submitted in partial fulfillment for the award of the Master of Business Administration [pic] I‚ under signed here by declare that the project report entitled “AN ANALYTICAL STUDY OF DERIVATIVES IN FUTURES WITH REFERENCE TO UNICON SECURITIES”‚ and this project is submitted to XXXXXX‚ affiliated to XXXX‚ is drafted by me and is original work of my own.
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Agreement are part of the contract between Ah Siong and UcanB007‚ and hence the enforceability of the terms should Ah Siong decide to sue UcanB007 in contract for his losses. Due to the nature of this case being that of a shrink-wrap license agreement‚ there is contention regarding the point in time when the contract was formed‚ which clearly affects the incorporation of the terms and thus the term’s legal efficacy. Adhering to the key elements required to form a contract‚ the purchase of product
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CONTRACTS OUTLINE Prof. Page – Contracts I – Fall 2011 |CONSIDERATION | - A legal contract only exists when there is an exchange – whether that’s a promise for a promise‚ performance for a promise‚ etc… this is called consideration. The promises/performance have to be influencing the other party to act/promise. *i.e. the ‘fuzzy coughdrop’ rule* i. RESTATEMENT
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Part A For a contract‚ it is necessary to decide what the parties have agreed‚ otherwise it is not possible to know whether the parties have done what they contracted to do. However‚ not all the statements made during negotiations are contractual terms. Therefore‚ here to discuss terms of the contract. Terms of the contract According to James (2010)‚ the terms of the contract are the specific details of the agreement‚ including each party’s rights and obligations. Broadly speaking‚ there are
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PRIVITY AND THE LAW ON SALES OF GOODS 9 Contracts Concerning Land 10 PRIVITY AND THE LAW ON HIRE PURCHASE 10 QUESTION 2 11 Analysis of the case to establish formation of contract 12 Was Mike obligated to sell furniture to Nilam 13 Nilma’s Rights and remedies against Mike 13 Remedies 14 1. Rescission of Contract: 14 2. Suit for Damages 14 Specific performance 16 Compensation for loss of profit 16 REFERENCE 17 QUESTION -1 The Doctrine of Privity A contract is an agreement between two or more
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MEMORANDUM TO: Dr. Doe FROM: Francis Stein‚ President Giant Drug Company DATE: 10th September 2013 RE: Consultation regarding contract Validity FACTS 1. On May 1‚ Doe signed and sent Stein the following letter: I will accept a position as vice-president in charge of research for a period of four years at a salary of $500‚000 per year. 2. On May 3‚ Stein received Doe’s letter and called Doe and stated: “Your salary request is too high. Will you reduce it to $300
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