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
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ABSTRACT Consumers need to continuously work to keep themselves informed about all of the details of their major purchases. Businesses need to conduct business practices knowing many consumers will require a full disclosure of all details before they will engage in a transaction with a business in the first place. Consumers and Businesses have rights and requirements in a purchase to detail the intentions of the transaction in writing. Both sides agree that the written agreement signed by both
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claim arises. With so many outside venders and human resource issues in today's business world, contractual claims are going to be one of the common claims that arise on a regular basis in many businesses. The next primer you will prepare for your department's training series will acclimate your colleagues to the world of contracts. Prepare a 2–3-page, double-spaced document explaining the essential elements of a contract and the applicable remedies in the event of a breach. What is required for a
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adopted when an oversight of the parties occur, in order to give ‘business efficacy’ to the contract based on prior or past dealings. Then, Statute terms are referred to the various states, territories and Commonwealth Trade Practices Act when the contract is formed. But in the Sale of Goods Act, it implied a number of stipulations in every contract for the sale of goods. However, these implied terms apply only when the parties to the contract of sale have not excluded or modified them. The first implied
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LEGT 1710, BUSINESS AND THE LAW SAMPLE PROBLEM QUESTION AND SAMPLE ANSWER NOTE: • • • • The sample question and answer are based on a previous problem question. The sample question and answer are purely intended as a GUIDE TO THE STYLE OF WRITING answers to legal problem questions. Do NOT use the content of this answer for your assignment as the facts and issues in this problem are different to those in the assignment question. Do not try to learn the content of the sample answer as a replacement
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side we stand, which is quite demanding in language precision, communication skills and so on. From different types of negotiations and the history of negotiation methods, we realize that tactics used in ancient wars have been applied in current business battles. The outcome of negotiations does not only have a win/lose situation, but also have a win/win one when reaching a consensus. Case practice: In the “Weekend in Paris” case, I practiced as a buyer who is urgent to get the ticket to Paris
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Joint Ventures occur when two businesses arrange a short term contract in which they use each other’s resources or talents to accomplish a business goal. The contract consists of the responsibility of each company, and how they are going to divide profits or losses. Joint ventures are a lot like partnerships, but differ because partnerships are long term, whereas, joint ventures are usually single transaction contracts (Legal-dictionary, 2015). One of the main purpose of a joint venture is to share
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Executive Summary Various issues in the common law arise when agents make contracts on behalf of principals. Should a principal be bound when his agent makes a contract on his behalf that he would immediately wish to disavow? The tradeoffs resemble those in tort, so the least-cost avoider principle is useful for deciding which agreements are binding and can unify a number of different doctrines in agency law. In particular, an efficiency explanation can be found for the undisclosed-principal rule
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Many executives in the business world today receive hefty bonuses on top of their annual salaries. In recent times, there have been questions as to whether this is ethical behavior or not, especially when the company’s performance is low. Where is the line drawn between logical and illogical when it comes to bonuses? How big of a role do contracts play when it comes to these big payouts? Is it ever ok to break a contract, and if so, when? A bonus is defined as “a sum of money granted or
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O'Hara Business Law 241 Lucy v. Zehmer 196 Va. 493, 84 S.E.2d 516, Web 1954 Va. Lexis 224 (Supreme Court of Virginia) A.H. Zehmer and Ida Zehmer, husband and wife and defendants, were drinking with W.O. Lucy and J.C. Lucy, husband and wife and plaintiffs, when A. Zehmer wrote and signed a contract to sell his 471 acre farm for $50,000 to the plaintiffs. He compelled his wife to sign the contract by telling her it was a joke intended to get the plaintiff to admit to a lack of funds. The plaintiffs
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