1. • In your opinion, is “bribing” unethical & illegal or just a cost of doing business? Discuss this in light of Siemens’ bribery scandal. We believe that bribing is unethical because it takes away the fairness of a business transaction between bidders of a contract. Bribing also has a negative impact on competition because it allows for oligopolies and monopolies to emerge in an industry due to smaller competitors being unable to financially compete with the amount of the bribes. This
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respondent. Annotations None G [zFNz]Flynote Contract - Agreement - Terms of agreement - Implied terms - Term not implied because court considers it reasonable - H Term has to be necessary in business sense to give efficacy to contract -"Officious bystander" test - Question to be asked is whether officious bystander, at conclusion of contract, were to ask what was to happen in particular eventuality parties to the contract would answer that term not included as it is too clear - Provisions
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Business Torts Issue Spotter Essay Emmy V. MedK Corp. MedK Corp. faces potential liability for the tort of Contractual Interference/Tortious Interference with Contractual Relations. Contractual Interference occurs when parties are not allowed the freedom to contract without interference from third party. Tortious Interference is that someone intentionally persuades another to break a contract already in existence. Here, MedK Corp. may be liable for Contractual Interference/Tortious Interference
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advise Tom with references to common law of contract that if there is any form of contract or acceptance made by Tom and Vicky, it is necessary to determine the main facts of the problem, whether or not to convince one of the two parties is illegally bonded and, back up by using relevant case law that bring about the similarities, certain behaviors to apply the precedents to this problem. In order to indicate the formation of a legally binding contract either by oral or written between Tom and Vicky
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Article 1458: Contract of Sale By the contract of sale one of the contracting parties obligates himself to transfer the ownership and to deliver a determinate thing, and the other to pay therefor a price certain in money or its equivalent. A contract of sale may be absolute or conditional. Essential Requisites The contract of sale, being a contract, has the same requisites, namely, consent, object, and cause. 1. Consent - Also called meeting of the minds. mutual agreement, or consensus
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scenario one many issues are in question such as whether this contract was legally formed, if the contract was assignable or if the contract was disregard and what the appropriate standards is for the non-breaching party. They need to take a look at the contract and decide if the contract was an acceptance and consideration. After reading the scenario the contract does not show any formation process, it also does not show whether the contract is valid between the two companies. In order for Foodmart
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Under Fire This week the author was to find an article which describe common contracts and the laws in which the particular contract violated. The law of contracts is one of the most common and important areas of the law that business owners and managers deal with on a day-to-day basis. So it seems like any other business the United States Marine Corps purchased $24 million worth of fire extinguishing systems to be used in their 7 ton Marine Medium Tactical Vehicles (MMTV). Before the installation
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Contract for the purchase of goods This Contract for the purchase of goods is made on October 4th, 2011. Between: ABC Footwear (PVT.) Ltd, which specializes in manufacturing and selling sports goods having principal business place at H-11 AK Barohi Rd. (Buyer) And: XYZ Rubber (PVT.) Ltd. having business place at G8 Industrial Area. (Seller) 1. Description of manufacture and sale Seller agrees to sell to the buyer the following goods Goods: * Rubber souls * White in
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Addressing International Legal and Ethical Issues LAW/421 Addressing International Legal and Ethical Issues When conducting business international it can be difficult for both parties to come to an agreement. Companies that conduct international business will need do research on the company and how they will help each organization out. This week’s simulation was about CadMex Pharma and Gentura. CadMex Pharma is pharmaceutical company based in Tampa, Florida. Gentura is a biotechnology
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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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