Topic An Assignment on Aspects of Contract and Negligence for Business ------------------------------------------------- ------------------------------------------------- Submitted By: ------------------------------------------------- Student ID… ------------------------------------------------- Module Name: ------------------------------------------------- Group: ……. Date of Submission: …………… Table of Contents LO1 A valid contract in a Business Context 3 1.1 The importance
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Understanding of Contracts John Caul January 19, 2015 BUS311: Business Law I The Understanding Of Contracts An agreement between two parties, either between two legible businesses or two people or “parties” who have come to an mutual understanding. Agreements cannot become official unless handled in a manner when a contract is involved. A contract is “an agreement creating obligations enforceable by law…promises that the law will enforce.” (“Contracts”, 2014). However
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Another example of prinicipal and agent relationships is GNC who argued that the conduct of McCreadies was sufficient to represent they had authority to enter a binding agreement on behalf of O2. McCreadies was hired by O2 to negotiate the terms of the contract and GPN argued that agents are commonly used to negotiate and enter into contracts and that O2 had at no time informed them of any restrictions of McCreadies’ authority. (Geoff, 2005) . When I went into business in the early 1990s there were not
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What Is My Role in Managing the Contract? Introduction Introduction Approximate Length: 1 hour 45 minutes Welcome to the What Is My Role in Managing the Contract? lesson. Upon completion of the lesson you will be able to answer these questions: What Is the COR's Role in Contract Administration? Why Should the COR Talk with the KO? What Makes Up a Contract? What Else Might I Encounter When Dealing with a Contract? Print Version For a printer friendly version of this lesson, select the icon on the
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For a contract to be valid it must have the following characteristics: 1. Offer and acceptance A contract is formed when an offer by one party is accepted by the other party. An offer must be distinguished from mere willingness to deal or negotiate. For example, X offers to make and sell to Y calendars featuring Australian paintings. Before any agreement is reached on size, quality, style or price, Y decides not to continue. At this stage, there is no legally binding contract between X and Y because
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Win the Contract Business 330 Professor Bridges May 27, 2016 Imagine your small business produces very small remote control aircraft capable of long sustained flights. You are ready to expand your business by competing for Department of Defense (DoD) contracts. You wish to bid on a contract that will be worth over $600,000 to your expanding company. Select the simplified acquisition method that fits your company the most, and then provide a rationale for your selection. Note: Remember
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1.0. INTRODUCTION A contract is a voluntary arrangement between two or more parties that is enforceable at law as a binding legal agreement. Contract have a history that where or when established. Contract law is based on the principle expressed in the Latin phrase “pacta sunt servanda”, (“agreements must be kept"). The common law of contract originated with the now-defunct writ of assumpsit, which was originally a tort action based on reliance. Contract law falls within the general law of obligations
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CONTRACT NOTES NATURE OF A CONTRACT The very basic definition of a contract can be: A contract is a written or spoken agreement intended to be enforceable by law. It consists of 2 main parts: 1) Agreement 2) Its enforceability by Law 1) Agreement: Agreement = offer + acceptance In other words it is an accepted proposal 2) Enforceability by Law: An agreement to become a contract, it must give rise to a legal obligation or duty. An agreement in order
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Introduction The purpose of this assignment is to present our knowledge of the laws of contract and the various legal principals arising in each case. Explaining and applying the 4 basic elements of a valid contract as well as other aspects of contract including capacity to enter a contract, the postal rules, contractual terms implied and express, relevant law relating to discharge of contract, remedies for breach of contract, types of damages recoverable and remoteness of damage. There are 3 different cases
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appropriate award constituted a valid contract or not. What are the 4 elements of a valid contract? There are four elements of a contract and when a party files a suit claiming a breach of contract; the first question the judge must answer is whether a contract existed between the parties. The complaining party must prove four elements to show that a contract existed: (1) offer, (2) Consideration, (3) Acceptance and (4) Mutuality. If any one of them is missing, the agreement will not be legally binding.
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