witness first hand a deal for a product that could of made the inventor very wealthy. Although this was not the case, this assignment taught us various lessons in business law and communication. At what point, if ever, did the parties have a contract? Based on the information provided in “Theory to Practice” the parties officially had a contract three days before the 90-day period when a BTT manager sent Chou the “Strat Deal” email. This email repeated the key terms of the distribution agreement; it
Words: 1002 - Pages: 5
company directive to reduce parts pricing by 25%. The flap shrouds and equipment bay door supplier arrangements have come up for consideration and the opportunity to satisfy the new strategic sourcing policy of fewer suppliers with long term, fixed contracts, along with reductions in cost of materials, has presented itself by going out to tender. Kim Tomar, Financial Analyst (material) is evaluating 9 RFP submissions for suppliers of flap shrouds and equipment bay doors in order to make a recommendation
Words: 2267 - Pages: 10
Question Zarul and his wife, Zanira, received a pamphlet from Oo La La Travel and Tour Ltd (OLLT). In the said pamphlet, OLLT advertised a tour package to Pulau Gemia, Terengganu for a family package of four for the price of RM20,000. The tour package included these items: a) Four nights and five days stay at Hotel Seri Gemia, two suites with ocean view; b) Four meals at Hotel Seri Gemia, the restaurant serving international dishes; c) Free access to Hotel Seri Gemia’s gym, SPA, Oympic
Words: 5958 - Pages: 24
first fact, with telephoning Elite, the issue is whether Ezy Bank can sue and ask for an indemnity from Elite Accountants. Here, we can clearly recognized that there is no intention, agreement and consideration between Ezy Bank and Elite, thus no contract is made. So the relevant area of law is negligent misstatement. To conclude whether Elite Accountants was negligent to Ezy Bank, three elements of negligence should be considered: * That Elite Accountants owed Ezy Bank a duty of care *
Words: 1090 - Pages: 5
Subject Matter of Contract: 1. (i) A Proton Waja car belonging to Saiful was stolen in April 2004 from a parking lot in Kuala Lumpur. Saiful lodged a report with the police promptly, but was not successful in recovering the vehicle. In June 2004, he gifted the car the whereabouts of which was still unknown to his friend Azhar. The car was found intact in July 2004. Upon being demanded by Azhar to handover the car, Saiful refused to deliver the car arguing that the previous contract of gift was not
Words: 4489 - Pages: 18
Root, U.S. District Court. A lawsuit filed in federal court in DC by the US Army, alleged that KBR violated the contract by failing to obtain Army authorization for arming subcontractors and allowing the use of private security contractors who were not registered with the Iraqi Ministry of the Interior. The case was dropped by the US but then in 2014 the Armed Services Board of Contract Appeals advised that KBR use of private security contractors did not violate contractual terms with the Army. The
Words: 895 - Pages: 4
the fact that the garage was very busy when she arrived, Amy was not asked to sign the usual document. She was, however, given a receipt for the car, which she accepted without reading. On the back of the form were printed Brakes Ltd’s usual business terms including the above statement. After collecting the car after its service, Amy was driving home when she suddenly lost control of the car and crashed into a tree. As a consequence, Amy was severely injured and was unable to work for three
Words: 1001 - Pages: 5
at the time of posting the letter.” The rule itself was established in the 19th Century when the only communication between mutable parties was to deal wit each other via mail. There was none of the types of communication that we have today. Thus contracts were created face-to-face or by correspondence. The rationale for the creation of the postal law came form the case Adams v Lindsell which involved the sale of wool between two parties, the defendant
Words: 2068 - Pages: 9
When international buyers and sellers disagree No matter what line of business you’re in, you can’t escape sex. That may have been one conclusion drawn by an American exporter of meat products after a dispute with a German customer over a shipment of pork livers. Here’s how the disagreement came about: The American exporter was contracted to ship ‘30,000 lbs. of freshly frozen U.S. pork livers, customary merchandisable quality, first rate brands.’ As the shipment that was prepared met the exacting
Words: 996 - Pages: 4
parties have a contract the moment that Chou and Big Time Toymaker (BTT) entered the exclusive negotiation agreement. A contract is considered perfected the moment the parties reached an agreement which signifies their consent, the object of the contract and the consideration or price. It bears to stress that the first element to test whether a contract has been perfected is that there must be intention on the parties to be legally bound. The second element to test the perfection of a contract is when the
Words: 1315 - Pages: 6
