...and binds both the person that made the offer and the person accepting the offer to the terms of the contract. http://www.duhaime.org/LegalDictionary/O/Offer.aspx Terms and conditions under which an offer is made, such as quantity, price, discounts, delivery date, shipping costs http://www.businessdictionary.com/definition/offer.html Acceptance of an offer is the final and unequivocal expression of assent to another's offer to contract. http://www.duhaime.org/LegalDictionary/A/Acceptance.aspx "Acceptance means the signification by the offeree of his willingness to enter into a contract with the offeror on the terms offered to him by the latter. Without an acceptance there can be no contract ...." "In the ordinary case ... there is a manifestation of willingness to be bound by one party followed by a manifestation of an assent by the other by words or conduct, generally and usefully called offer and acceptance." "Each of (these) definitions contemplates a willingness, either in words or by conduct, to be bound by the terms of the offer. But each definition also entails a manifestation, or a signification, or an indication of such willingness." Book 9(1) of Halsbury's Laws of England, 4th Edition (2007) “termination of offer”, and can happen in a number of ways, for a variety of reasons. Termination of offer is different from “termination of contract”, as a contract has not yet been fully formed in a termination of offer. How is an Offer Termination Accomplished? There are many...
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...principles of contract law. What are the characteristics of a valid contract? How are contracts terminated? What are the legal consequences of terminating a contract? How is contract law, as an example of “private law regulation of business,” different in its operation from the public law regulation of business which we discussed for most of the semester? The law presiding over contracts is state law which is comprised of common law and judge-made rules. All the states except Louisiana have passed the Uniform Commercial Code’s (UCC) Article 2 which sets the rules and guidelines for contracts dealing with goods. Essentially, in order for a contract to be valid, there must be an offer and acceptance of the offer, all parties must be legally capable of entering into a contract, there must be evident consideration, and most states have a Statue of Frauds. To expand on offer and acceptance: A proposed contract must be offered by one party, known as the “offeror,” and accepted by the other party, known as the “offeree.” Offers must be certain and even if an offer has been made, the contract has not been formed until the offeree accepts the offer. Terms of acceptance and rejection are different for every contract. In certain cases, as stipulated by the idea of common law exactness, such as in realty, services, or insurance, the acceptance must be the mirror image of the offer and if not, the offer is considered to be rejected and a counteroffer occurs. However, when goods not...
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...quality affects the likelihood that merger and acquisition (M&A) deals will ultimately be terminated. Managers looking to increase their market share, enter new markets, or diversify their operations will consider acquiring another company based on the company’s performance, geographic locations, and lines of business, respectively. If the potential target is a U.S. publicly traded company, an acquirer’s initial assessment of the expected benefits associated with the acquisition of the company is based on publicly available information. Generally, the acquirer obtains limited private information from the target prior to the signing of the acquisition agreement. Although an acquisition agreement creates a binding contractual obligation for both entities to go forward with the deal, it does not guarantee completion of the deal. The acquisition agreement typically contains a warranty by the target that its financial statements are prepared in accordance with generally accepted accounting principles (GAAP). If this warranty is breached, the deal can be terminated. We hypothesize that low-quality financial reporting by target firms prior to the announcement of a deal increases the likelihood that a target firm’s U.S. GAAP warranties stated in the acquisition agreement are breached. Therefore, we predict that deals involving targets with low-quality financial reporting are more likely to be terminated (i.e., go bust). Based on prior research, we identify five measures of low-quality financial...
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...her without any reasoning or rationalization. The job offer that Elaine received was a letter that she had been given, which mentioned that her annual salary would be $30,000 and she would receive great opportunities at the company. Although the company that hired Elaine was an at-will-employment business, Jerry decided to fire Elaine after two-months and hire a man in for her position, Kramer, who had less job experience and education then Elaine. Elaine has now sued Jerry for being terminated, she wishes to have her job back and have a steady income and an annual salary. Elaine’s lawsuit has a strong case for sexual discrimination and unlawful business ethics by her employer, ensuring that Elaine, who was given no reason for the termination and after the termination Jerry hired a man, who had less job experience and education, gets her job back. However, there are certain exceptions that favor Elaine for being mistreated and fired so abruptly. The exceptions that I believe will help Elaine in the Lawsuit against Jerry other then sexual discrimination, are as follows; Tort Exceptions, Implied-In-Fact Contracts. Statutory Exceptions, and the Public Policy Exception. Certain issues need to be considered and discussed before beginning this lawsuit to ensure that there is a legitimate case. Some things to consider are; is there a valid contract with Elaine and Jerry that she must receive a reason or explanation for being terminated that is related to company policy? Does the job require...
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...An offer is a show of willingness to enter into an agreement that involves another person’s acceptance. So an offer, that one accepts becomes an agreement. The offeror is the one who makes the offer and the offeree is the person to whom the offer is made. To be a valid offer (I.e., to constitute an offer), a manifestation of intent to enter into a bargain must have the “3 Cs.” First, the contract must embody a promise, or commitment as opposed to a statement of present intention or preliminary negotiation. Statements such as “I intend to sell you my car” or “come talk to me about buying my car” are not offers. Saying “if you pay me 100 dollars, I will sell you my car, is a valid offer. Whether a statement is an offer, depends on whether a reasonable person would believe it to be an offer regardless of the subjective belief, for example, given the trade customs of an industry, would a reasonable person think that an offer was made? The court faced with this situation would consider factors such as; 1) language, whereby the words “offer” or “promise” have been used. Courts also consider the definitiveness of the terms and language of the proposal to help decide whether it is an offer. “First come, first served may indicate an offer because it provides buyers with a clear means of accepting by buying first. 2) Communications made by mass media are usually held to be invitations for offers and not offer themselves. For example, a TV advertisement announcing that a dealer has...
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...she is unable to use the computer tools to be productive and efficient in completing the required tasks. This employee is banking on the employment-at-will doctrine. The employment-at-will doctrine avows that, when an employee does not have a written employment contract and the term of employment is of indefinite duration, the employer can terminate the employee for good cause, bad cause, or no cause at all (Halbert & Ingulli 2012, 46). With this scenario of Jennifer’s behavior the manager needs to review the lists of abilities that she wrote on her application or resume. If those abilities are false and she cannot perform her duties of the job, then depending on her employment contract she either needs to be formally written up or terminated for lying on her resume and not being able to perform her duties. Jennifer went through the training and was supported by her management team; she still had trouble with her duties. This would result in either more training or termination of employment. Termination of employment needs to have steps taken to be a success. Jennifer should have been formally written up for her falsifying her resume and then not being able to complete her duties after being extensively trained. After her training...
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...ideas that go along with each definition to give a better idea of why the term is important to the topic. Termination from Employment Termination from employment occurs when an employee’s job ends. Termination can be voluntary or involuntary. Voluntary Termination Voluntary termination is when an employee voluntarily ends his or her employment at an organization. This would include resignation or retirement. Another common reason for voluntary termination is a new or better job, typically one that offers higher remuneration or improved career prospects [ (Heathfield, Termination) ]. Involuntary Termination Employment can also be involuntary, meaning that the employee is terminated by the employer. Employees can be involuntarily terminated in two main ways; for cause and at will. Employees can also be laid-off when there is no work available for them; another example of involuntary termination [ (Heathfield, Termination) ]. Termination For Cause When an employee is terminated for cause they are fired from their job for a specific reason. This could...
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...quality at an affordable price. Why Choose Outplacement? • Reduction in unemployment expenses – Many studies prove that outplacement significantly reduces the job search process, therefore decreasing unemployment costs. • It’s a social investment! - Not only is your company saving money, but you are paying it forward to our local economy by providing a motivated and refocused workforce. • Maintains good working relationships with remaining employees - Many employees suffer from the “survivor” mentality during a reduction in the workforce. Outplacement can help soothe • Less anger from terminated employees – Terminated employees feel a wide range of emotions. Outplacement can calm anxiety and stress while redirecting their focus on the future and not the past. • Retaining good will in the community – Terminated and surviving employees will feel appreciated and tell friends and associates that your company provided them assistance. What is our “EXTRA” Guarantee? Why settle for big corporation traditional outplacement when you can get a little lagniappe for a lower...
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...printed in an employee manual was in conflict with the employer's elaborate discipline and discharge system, which the employer said would be carried out in a fair and consistent manner. The Court ruled that the employer was sending mixed messages to employees about their status. Accordingly, it allowed a terminated employee to pursue her breach of implied contract claim since the employer had apparently adhered to these procedures in almost all other cases. Thus, your disciplinary policy should include "at-will" language stating that the policy is only a guideline, that management reserves the right to exercise its discretion in implementing it, and that you retain the right to discharge employees immediately. This case highlights the care that employers should take with the design of employee handbooks. Even where a handbook contains a prominent disclaimer stating that it does not establish any contract rights, an employer must be careful with all of the handbook’s wording to not create a contractual liability. 1. What were the legal issues in this case? Linda Dillon sued her former employer, Champion Jogbra, claiming that it breached an implied contract when it terminated her employment without following the company’s progressive discipline policy as stated in the company handbook. She also argues that the trial...
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...Company who has been employed with the company for five years. She agreed to participate in a personal interview to assist me with my Collective Bargaining research paper. When an employee has a misconduct issue at Comcast, first the employee will receive coachings which involves a one on one with the team supervisor to discuss the misconduct issue and how it could have been avoided. On the second misconduct offense the employee will receive a verbal warning. The third offense they will receive a written warning . The fourth offense they will receive a final warning and the last offense the employee will be terminated. Conflicts between employee and management will be handled by the next line supervisor in line. If any employee feels that they are not being treated fair or was fired for no reason, Comcast provides a hotline that they can contact for any feelings of unfairness or neglect. Comcast has a zero tolerance for drugs. They are a drug free establishment and if an employee is found with drugs in their system they will immediately be terminated. Drug test are also given prior to the employee receiving a job offer. If there are disagreements about wages the immediate supervisor is the first step the employee should contact to get the issue resolved. If any member of management is disrespectful to an employee the employee can request to speak with the center’s director. All new employees are placed on a 60 day probationary period. This is set for all new hires. During...
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...Application of Law to the Facts: In light of all the facts based upon the law relating to nondisclosure agreements (NDA’s), a court most likely would rule in favor of Greene's Jewelry. This ruling comes from the matters of breaking legal contracts. NDA’s are legal binding contracts. Ms. Jennifer Lawson breached the confidentiality agreement/contract, that she was required to sign upon working for Greene's, when she took secret information to multiple competing jewelers. The agreement was a valid bilateral contract which was expressed in writing. To qualify as a contract, a set of promises must be based on a voluntary agreement, which is made up of an offer and an acceptance of that offer. Any court will need to know the terms each party has agreed upon to determine if there was a breach of contract and calculate a remedy. In the case of RRK Holding Co. v. Sears, Roebuck and Co. (United States District Court, N.D. Illinois, Eastern Division 563 F.Supp.2nd 832 May 27, 2008), the jury’s calculated remedy cost Sears $25 million for misappropriation. By providing documentation of the NDA, signed by Ms. Lawson at the time of her initial employment, the plaintiff can display the defendant’s understanding and thus blatant and reckless disregard of her responsibility to not disclose any information pertaining to the patented process for producing “EverGold.” Also, by providing the court with her initiated and signed contract with the plaintiff’s competitor, Greene’s is able to...
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...HRMG 5700 Week 6 Midterm Project Many times companies experience financial obstacles that causes them reduce or close down their workforces. More Beer, Inc. decided to venture into internet marketing. Soon after these websites went live, technology problems, together with sluggish sales killed the company’s profits. As a result, the company has decided to abandon its new direct marketing plan and to reduce its workforce. As Vice President (VP) of HR for More Beer, Inc., I have to terminate three employees. I am given a list of five employees who are candidates for possible termination. After carefully reviewing facts about how each candidate benefits the company, I have decided to terminate three of the employees and internally transfer two of the employees. The three individuals that are terminated will receive a severance package. More Beer, Inc. agrees to pay each individual 12 weeks of severance pay. The severance pay will be in addition to the payment of unused accrued vacation pay to which they are entitled. They may elect to receive this severance pay in the form of a lump sum payment, or spread it over a number of weeks, less applicable deductions for taxes. Each individual will be required to sign a waiver that releases More Beer, Incorporated, from any future claims against the company regarding their termination. Mike Williams I have chosen Mike William for termination because his job duties include maintaining existing computer...
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...Memorandum TO: Mary Jane Greene and Allen Greene FROM: Cheryl McKenzie DATE: September 17, 2017 RE: 1. Breach of Confidentiality Agreement in Greene v. Lawson 2. In Defense of Wrongful Termination in Lawson v. Greene 3. Injunctions Against Jennifer Lawson, Howell Jewelry World and Triumph Jewels Introduction Greene’s Jewelry Wholesale, LLC (Greene) seeks remedy from previous employee, Jennifer Lawson (Lawson), regarding Lawson's breach of a confidentiality agreement between Lawson and Greene to not disclose trade secrets of Greene's primary asset, Ever-Gold. Lawson, a previous employee of Greene, was terminated after Greene downsized its company. Greene also denies Lawson was wrongfully terminated as she claims in her counter suit. Upon termination, Lawson improperly shared trade secrets from Greene and used them for personal benefit by providing direct competitor, Howell Jewelry World (Howell), with the information in exchange for employment. As...
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...benefit packages. Implementing a plan to transition the benefits and policies and communicating the details of the plans is imperative to the merger. Although these plans are costly to companies, benefit plans are employee friendly. Companies try to offer the best plans, which are very competitive in attracting and retaining a talented workforce (Society for Human Resource Management, 2008) The more transparency that can be communicated early in the stages of the merger the more successful the company will be in employee retention, loyalty, and buy-in to the merger. One of the benefits that must be reviewed is each company’s paid time off/sick time/vacation time policies. Evaluation of the employee handbooks and policies is important for both due diligence and for developing a plan to integrate employees into the new workforce. Accrued vacation and employee paid time off are calculated differently between Company A and B. Information about employee pay rates and accrual basis are needed. Companies may have had different pay rates for the same job levels (Smith, 2012) so payroll/accounting will have to be reviewed. Also, evaluation of how each company views days off is important. Many companies who offer PTO programs continue to offer separate programs for holidays, bereavement, and jury duty. There are pros and cons for using a PTO system vs. a traditional leave system. If the company wants to proceed with using a traditional system, one reason is that employees are often...
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...damages caused by the breach. Sometimes, however, a party that breaks a contract may be persuaded to make an out-of-court settlement, therefore saving the expense of legal proceedings. This paper is intended to explain the parts of a contract. A contract arises when an offer to make a contract is accepted. An offer contains a promise, for example, "I will pay $1, 000,” and a request for something in return, a person's car. The acceptance consists of an assent by the party to whom the offer is made, showing that the person agrees to the terms offered. The offer may be terminated in a number of ways. For example, the party making the offer may cancel it, which is called a revocation, or the party to whom the offer is made may reject it. When the party to whom the offer is made responds with a different offer, called a counteroffer, the original offer is terminated. Then the counteroffer may be accepted by the party making the original offer. (Goldman: Sigismond, 2011) For a contract to be valid, both parties must give their assent. They must act in such a way that the other people involved believe their intention is to make a contract. Thus a person who is clearly not sincere in saying that he or she accepts an offer usually is not held to a contract by the courts. On the other hand, a person who secretly has no intention of making a contract but who acts in a manner that leads people to believe he or she had, may be held to a contract. Legally, it is...
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