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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for Supply Chain Management (SCM). It also highlights the contribution of IT in helping to restructure the entire distribution set up to achieve higher service levels and lower inventory and lower supply chain costs. An overview and tangible benefits of the existing IT tools that are widely deployed is also provided with focus on existing configurations considerations‚ available applications. The role of existing communication technologies in making IT an enabler of SCM is highlighted
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Introduction Offer and Acceptance Introduction: For a contract to be legally binding there needs to be 4 ingredients: 1. Offer 2. Acceptance 3. Intention to create legal relations 4. Consideration Building on this‚ in order to prove that a contract is legally binding 5 things need to be proven: 1. That an agreement has been reached. This is usually done by demonstrating that one of the parties has made an offer which the other accepted. 2. The agreement has been
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Offer and acceptance | Contract law | Part of the common law series | Contract formation | Offer and acceptance · Mailbox rule Mirror image rule · Invitation to treat Firm offer · Consideration | Defenses against formation | Lack of capacity Duress · Undue influence Illusory promise · Statute of frauds Non est factum | Contract interpretation | Parol evidence rule Contract of adhesion Integration clause Contra proferentem | Excuses for non-performance | Mistake · Misrepresentation
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state’s population. African Americans accounting for a large percentage in the state population were disqualified because they could not afford to contribute to the requirements. Secondly‚ the enactment of literacy tests undoubtedly remained as the most formidable voting barriers for many minority
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Law- Offer and Acceptance Enforcement of promises Criteria: 1. Offer and corresponding Acceptance 2. Consideration 3. Intention to create legal relationship 4. Certainty I. Formative elements – will theory of K Offer - an expressionof willingness to contract upon certain terms – binding upon acceptance Requisites: (a) Offer will become binding upon acceptance; and [may be prepared to sell] (b) Nothing further remains to be done If no an offer‚ what is it?
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CONSIDERATION (giving each other party something of value which underlies promise they are making) AGREEMENT: (bargain negotiated between two parties) Looking at it objectively: Standing outside the agreement‚ looking in as an outside observer. What do we think they have agreed? Smith v Hughes (1871) LR 6 QB 597 → court always objectively views the 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
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system. Wal-Mart operates the world’s biggest private satellite communications system. This system allows it to track sales‚ inventory‚ process and regulate store temperatures all in real-time. Wal-Mart already has built many stores in foreign countries. Now it just needs to manage them efficiently and adapt to the local culture. To obtain their brand reputation. Wal-Mart has exceptional brand reputation in the U.S.‚ which is primarily due to emphasis on customer and community service. Wal-Mart also
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MWASARA ROLL: 1545 2013 WAL-MART’S SUPPLY CHAIN MANAGEMENT. A. About Wal-Mart Wal -mart is an American multinational retail corporation that runs chains of large discount department stores and warehouse stores. The company is the world’s largest public corporation‚ according to the Fortune Global 500 list in 2014‚ the biggest private employer in the world with over two million employees‚ and is the largest retailer in the world. Wal-Mart remains a family-owned business‚ as the company
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dramaturge‚ ultimately exiting the frame of the action to become its director. This surprising exit and her immediate crossing between the space of the action and the space of the theater is prefigured by her marginal position in the household‚ what Albee offers as an allegory for the "American Scene". In her many sardonic epigrams‚ Grandma will position herself—as an "old person—at the margins of human intercourse‚ a figure considered "obscene" in the social theater. For example‚ social intercourse
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