...Running head: BUSI 561 Contract Analysis BUSI 561 Contract Analysis / Week 3 Demetria Barlow Liberty University BUSI 561 Contract Analysis / Week 2 The case presented here in this contract analysis is a very sticky situation. Here we are faced with the combination of two very different relationships between the same two parties. I would find myself quite surprised at the reaction of Mr. Petersen upon telling him about the direction in which my business is about to go. According to the facts presented, I have always tried to display the traits of a good merchant when it came to Mr. Petersen. However, as the evidence reflects, Mr. Petersen seems to be more driven by money than he is by maintaining good business practices. It has already been proven that Mr. Petersen is a nonbeliever. With that being said, it is a good possibility that we do not share the same moral beliefs and values. This is proven in the way Mr. Petersen chose to do business. First, all business invoices clearly state that balances are to be paid within thirty days. However, Mr. Petersen has constantly decided to pay on his own schedule, usually forty five to sixty days. Although I have every right to charge him interest and penalties as stated on the invoices, I have always elected not to do so. Secondly, one would believe that their business partner should be trustworthy. Mr. Petersen has proven that this is not so by getting my son to sign a contract without my knowledge and then trying...
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...Case Analysis: Discharged Contracts Carmelisa King Kaplan University LS311: Business Law Professor Baum September 2nd, 2014 Introduction There is an old saying a person’s word is their bond. In business a person’s word can be used as a contractual agreement. However, this type of contract isn’t always the best way to do business. It is important to have a written contractual agreement that both parties can be held by so there can’t be any possibility of either parties breaching the contract. Now this case analysis will discuss the contractual agreement between two parties and if there are grounds for the contract to be discharged based on the outcome impossibility of performance. Facts Millie entered into a contractual agreement with Frank to sell him 10,000 bushels of corn from her farm. However, Millie had a bad season and experiences a bad drought that caused her to produce only 250 bushels of corn for Frank. Now Frank accepted the 250 bushels of corn from Mille but later decides to sue Millie for breaching her contract with him. Issue Is it possible for Mille to be released from her contract base on the outcome impossibility of performance? Otherwise can Frank sue her for breaching their contract even though her crop wasn’t able to produce a large harvest due to the drought? Can Millie defend successfully on the basis of outcome impossibility of performance? Explain. 1. Discuss the elements of impossibility of performance and the three situations where...
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...about the concepts behind and an analysis of an employment contract between Sam Marafioti and the Sunnybrook Health Sciences Center. The goal of this paper is to better understand contract law and the legal, ethical and contractual issues that can arise when dealing with an employment contract. The paper begins by explaining the objective of the paper and the used in order to complete the objective. The methodology used is a five step process beginning with the clauses within the contract being defined. This creates an easier reference for a reader without any legal background. The clauses are stated in an easily understandable format in order to better understand the agreement used in the analysis. This precedes the section where all legal concepts within the contract are defined. The legal concepts are used in order to better understand the meaning of the contract. They explain both the what, and the why each clauses exists and how they interact with the signer. The ethical issues within the contract are then showcased. The law is considered the minimum standard of ethics and as such there can be ethical issues for the signer. The process of termination is then analysed to better understand how the clauses within the contract work in a real scenario and can prepare the reader for their own employment termination. Finally, my personal recommendations regarding legal issues and lessons learned are displayed. This section shows how the contract could be improved on and recommendations...
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...acceptance analysis is a traditional approach in contract law used to determine whether an agreement exists between two parties. An offer is an indication by one person to another of their willingness to contract on certain terms without further negotiations. A contract is then formed if there is express or implied agreement. A contract is said to come into existence when acceptance of an offer has been communicated to the offeror by the offeree. One party, the offeror, makes an offer which once accepted by another party, the offeree, creates a binding contract. The Key concepts in relation to offer and acceptance include the distinction between an offer and an invitation to treat, The case of Carlill v Carbolic Smoke ball co. is...
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...STATEMENT OF PROBLEM: The problem of stores control has existed for too long. This problem is still with us to date and is a universal rather than a peculiar problem. Thus, it is not limited to a single organization but all business. It is not only limited to the private sector with its background motive of profit maximization but also to the public organizations. Many business organizations the world over have not give stock control the prominence it deserves in spite of its varied importance. However, stock control began to gain recognition as a result of the industrial revelation that swept the advance countries of America and Europe in the 1930s. The problem of stock control may be attributable to the failure, on the part of the top management officials, to give a deserved attention to the function of stores as well as their inability to employ the services of as well qualified stores officer to take charge of stores supervision and management. Added to this problem is the issue of the dearth of storage facilities and the habit of stores procedure violation by the top, the middle, and the junior cadre personnel’s in the organization. SIGNIFICANCE OF THE STUDY: The issue of management of stock is of vital importance to the success of any organization and is one of the serious determinants of the continuity and efficient productivity of the organization. As the study is significant because it is hoped that on the completion, the study will provide further...
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...company in North America produces the Process King 2000, StatTech Corporation. Select Service and its industry competitors act as rental agents for the manufacturer and operate as post-sale service providers. Service Contracts Select Service customers choose either the Platinum contract with an annual price of $990 or the Gold contract with an annual price of $750. The two types of contracts both include annual rental of the Process King 2000 device, but offer different levels of post-sale service. Certified trained Service Technicians program the Process King 2000 to adjust the operating parameters to the packaging specifications required for customers’ products. Some customers use the Process King 2000 to package multiple different food products that require different machine set-ups in the programming. Service Technicians also provide regular operation analysis. The Gold Contract includes annual programming of up to 10 new machine set-ups and bi-monthly operation analysis reports to the customer. The Platinum Contract includes programming of unlimited machine set-ups and monthly operation analysis reports to the customer. In recent years, demand for the two types of contracts has remained stable at 60% Platinum and 40% Gold. Operation analysis uses an internet connection between the Process King 2000 at the customer location and the mainframe computer at Select Service. Service Technicians download data from the customer’s Process...
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...the parties have a contract? I do not believe the parties had a contract at any point. Although the e-mail showed the intent to contract, it was not formed as a contract and neither party signed in agreement. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? The fact that an oral agreement was reached at a meeting and an e-mail stating the intent to contract was sent may weigh in favor for Chou but the fact that a written contract was never drawn nor signed weighs against Chou. 3. Does the fact that the parties were communicating by e-mail have any impact on your analysis in Questions 1 and 2 (above)? The fact that the parties were communicating through e-mail does have an effect on my analysis because it showed a written intent to contract however no actual contract was signed and agreed upon by both parties. 4. What role does the statute of frauds play in this contract? The statute of frauds does not play any role in this contract because it requires a signed writing for contracts for the sale of goods totaling $500 or more and no signed contract existed in this case. 5. Could BTT avoid this contract under the doctrine of mistake? Explain. Would either party have any other defenses that would allow the contract to be avoided? BTT could avoid this contract under the doctrine of mistake because Chou could have mistaken the e-mail as a contract. In this case, no written signed contract existed, therefore...
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...CONTRACT MANAGEMENT – PRINCIPLES & BEST PRACTICES Strategies and Techniques to ensure successful contract management and administration. ” This course will teach you how to effectively manage all aspects of project procurement. You'll discover the terms, techniques and tools of how to convert project needs into outsourced goods and services. In this skills-building course, you will spend 70% of class time working on contracting activities from requirements documentation through to contract closure. Exercises include the development of a procurement strategy, contract selection, revising and updating SOW’s, risk management, negotiated claims settlement and collection of lessons learned. The emphasis of lectures is on how to work with the many and varied stakeholders involved in the procurement chain. Successful procurements come from working with both internal and external stakeholders. Doing this well requires an understanding of everyone’s roles, responsibilities and expectations. “Know what they do to know what you need to do”. Steps and stages of contract management from needs analysis to closure Terms and terminology of contracting and procurement Legal requirements of contracts and their implications Ingredients for contracting success Stakeholder mapping and expectations analysis Converting project objectives to contract requirements Applications and weaknesses of contract types Risk transfer through...
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...3-9-2012 LECTURER: MR. IBRAHIM CONTEH CARLOS JULIO BELLO ORDUZ STUDENT ID: 21200686 ST-PATRICKS COLLEGE ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS TABLE OF CONTENT EXECUTIVE SUMMARY…………………………………………………………………..3 INTRODUCTION……………………………………………………………………………4 CASE STUDY 1: OFFER AND ACCEPTANCE…………………………………………5 CASE STUDY 2: CONSIDERATION……………………………………………………..6 CASE STUDY 3: INTENTION TO CREATE LEGAL RELATION……………………..7 CASE STUDY 4: contractual terms……………………………………………...……7-8 CASE STUDY 5: exclusion clause……………………………………………………8-9 CASE STUDY 6: Tort of negligence …...……………………………………………9-11 CASE STUDY 7: vicarious liability……………………………………………………12. REFERENCE LIST………………………………………………………………………..13 EXECUTIVE SUMMARY CASE STUDY 1: OFFER AND ACCEPTANCE This case involves term such as: offer, acceptance offer, difference between offer and treat, invitation of treat and acceptance of an offer by post. CASE STUDY 2: CONSIDERATION This case of study involves terms such as: part payment, principle of promissory estoppel Pinnels case (1602) and foakes beer (1884). CASE STUDY 3: INTENTION TO CREATE LEGAL RELATION This case of study involves terms such as: intention to create legal relation, domestic contract, social contract and commercial contracts. CASE STUDY 4: contractual terms This case of study involves terms such as: meaning of contractual terms, representation, types of contractual terms. CASE STUDY 5: exclusion clause This case of study involves...
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...Job analysis involves studying a specific job to identify the measurable work activities, tasks, and responsibilities associated with that job. An effective job analysis requires the systematic gathering of information and focus on the work behaviors and tasks that are necessary to achieve a satisfactory outcome and identifies the employee knowledge, skills, and abilities (KSAs) that are necessary to perform the job. Job analysis involves reporting the job as it currently exists in the specific organization for which the analysis is applicable. Job analysis does not report on the job as it existed in the past or as another organization performs it (University of Minnesota, 2008). The continuous observation method is an appropriate method of conducting a job analysis. With the continuous observation method, a trained and experienced observer studies one or more employees (assigned to perform a specific job) over a period of time. The observer records what the employee does, the manner in which the work is completed and how long it takes to complete the work. The job analysis for the salesperson position at InterClean includes the following major job functions and KSAs: A. Prospect and lead generation–Requires the employee to maintain a detailed knowledge of company products, processes, and procedures including but not limited to pricing and time to market. Requires the ability to identify customer needs and the ability to sell the solution and its value, rather than focusing...
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...CONTRACTS PROJECT A CASE ANALYSIS ON Stilk v Myrick 16 December 1809 (1809) 2 Campbell 317 170 E.R. 1168 BY ROHAN GOSWAMI NATIONAL LAW UNIVERSITY, ODISHA ROLL NUMBER: 042 SEMESTER: SECOND SEMESTER COURSE: B.A. L.L.B Email: 12BA042@nluo.ac.in FEBRUARY 2013 This case analysis forms a part of the internal assignment and was assigned by the subject Professor Mr Rangin Pallav Tripathy. Issues that would be dealt with in the following case analysis: * The Law as it stood before the Case, * Properly structured facts of the Case, * Issues before the Court, * Issues which were determine by the Court, * Identifying such issues if any, which the Court did not determine, * Properly stating the Decision of the Court, * The reasons as identified by the Court for its Decision, * Your analysis of whether the issues were framed properly or not, * Your analysis as to the correctness of the reasoning of the Court and * Your Opinion on the impact of the decision on the Law in general. The Law as it stood before the Case Pre-existing Duty Rule: This case was decided on the basis of Principle of CONSIDERATION under the existing Law of Contracts and the law was same before the ruling of this case. When a seaman is bound by his contract of service to serve for a particular voyage, a promise to increase his wages, unless there is increased duty or hazard, does not bind the promisor.2 It is otherwise, however, if the promise...
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...generally includes all of the following characteristics EXCEPT: a. Payments are typically processed after certification of satisfactory work by an authorized person on the project team. b. All payments should be made and documented in strict accordance with the terms of the contract. c. Re-negotiations of the price and other terms of the contract are typically conducted prior to authorizing payments of the seller. d. Payments to the seller are typically processed by the accounts payable system of the buyer. 3. All legal contractual relationships generally fall into one of the following broad categories EXCEPT: a. Request for proposal (RFP). b. Fixed-price contracts. c. Cost-reimbursable contracts. d. Time and material contracts (T&M). 4. Generally, a bid differs from a proposal in that the term: a. Bid is used when the seller selection decision will be based on price. b. Bid is used when technical capability or technical approach are paramount. c. Proposal is used when source selection will be based on price. d. Proposal is used when the project time frame is limited. 5. All of the following are true about the make-or-buy analysis EXCEPT: a. It should consider all related direct costs but should not consider indirect support costs. b. Budget constraints may influence make-or-buy decision. If a buy decision is to be made, then a further decision of...
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...alternative answers. Mark schemes must be read in conjunction with the question papers and the report on the examination. • CIE will not enter into discussions or correspondence in connection with these mark schemes. CIE is publishing the mark schemes for the May/June 2009 question papers for most IGCSE, GCE Advanced Level and Advanced Subsidiary Level syllabuses and some Ordinary Level syllabuses. www.xtremepapers.net www.studyguide.pk Page 2 Mark Scheme: Teachers’ version GCE A LEVEL – May/June 2009 Syllabus 9084 Paper 03 Assessment Objectives Candidates are expected to demonstrate: Knowledge and Understanding – recall, select, use and develop knowledge and understanding of legal principles and rules by means of example and citation Analysis, Evaluation and Application – analyse and evaluate legal materials, situations and issues and accurately apply appropriate principles and rules Communication and Presentation – use appropriate legal terminology to present logical and coherent argument and to communicate relevant material in a clear and concise manner. Specification Grid The relationship between the Assessment Objectives and this individual component is detailed below. The objectives are weighted to give an indication of their relative importance, rather than to provide a precise statement...
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... Charter Bank to obtain a loan within a few months they defaulted on their loan obligation. Charter Bank sued Holly Hill to recover on the note and the mortgage. Legal Issue: Does the reference to the mortgage in the note cause it to be nonnegotiable? The Law: An instrument is not negotiable if it states that payment is conditional, the terms of the promise must be determinable form the face of the instrument. Therefor, if an instrument stated that it is subject to or governed by another agreement, it is not negotiable. Case Analysis: Holly Hill incorporated the terms of purchase money mortgage with their promissory note therefore, the note was non negotiable. As a result Charter was not a holder in due course and was subject to any defenses Holly Hills raised against other parties. 23.8 General Investment Corporation v. Angelini Introduction: Angelini entered into a contract with Lustro Inc. The contract was to replace exterior veneer on Angelini’s home with Gold Bond Avocado siding. They agreed to pay $ 5,363.40 installment plan and signed a promissory note the note stated that it would mature until 60 days after a certificate of completion was signed. Ten days after the not was signed Lustro assigned the note to General for consideration. General new about Lustro’s questionable business ethics and took over the note for Angelini. Even though Lustro didn’t complete the installation of the siding,...
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...that it is assured Marton fully understands the scope, their facilities are sufficiently equipped, and they provide their financials. It will be in Havilland’s best interests not to pursue their policy under the Bidder Selection Board (BSB) to attempt to renegotiate the price lower since Marton already provided substantial savings. The next option for Havilland is to pursue the first option but only given Marton 80% of the work for the first year and keep the incumbent under contract for the remaining 20% of work. The third option is to cancel the RFQ, clarify with the bidders what was unclear in the specifications that resulted in such a wide variation in pricing and go out for bids again. The final option is to attempt to negotiate with the three low bidders for the supply of individual parts, since each of the bidders had one of the lowest prices in each of the three categories. This report recommends Havilland chooses the second alternative to pursue the bid from Marton but maintain a small contract with Dollard for the first year, until Marton has proven it can delivery to the terms of...
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