1. Betty drove three hours in one hundred degree heat. Explain if this fact has any bearing on whether or not the dealer must perform in accordance with the published advertisement. By law an advertisement is not a contract however, in most states the printed ad is technically an offer to sell in a specific vehicle at a specific price and if you take them up on the offer, then they have to sell it to you just as they advertised because you accepted the offer and were ready to pay the advertised
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be done before, during and after an international agreement. “Whenever a U.S. firm enters into a contract situated in a different country, it should make sure the agreement is officially enforceable.” (Melvin, 2011) Each company must understand the international trade regulations, mandates and laws; in addition to the cultural nature of their international business partner. Continuous legal and business discovery will allow for intentional neutrality in both good and threatening situations. The ultimate
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every contract in business requires critical analysis for every term in accordance to the specifics upon which both parties are involved. The reason for analyzing such terms carefully is because it can become a crucial part in determining the decision making when addressing any business problem. This is generally more important from the perspective of the company management because some situations can result in high intensity and significance for the company. Analyzing the terms of a contract will
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‘English law is based on an objective theory of contract. The commercial advantage of this approach is that it promotes certainty and predictability in the resolution of contractual disputes. Also as a matter of principle, it is not unfair to impute to the parties to a contract or a potential contact an intention that in the event of a dispute a neutral judge should decide the case applying an objective standard of reasonableness.’ Discuss whether an objective approach is satisfactory and the extent
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that no distribution contract existed unless it was in writing. This paper will explain if Big Time Toymaker and Chou had an enforceable contract and any remedies they may use. Big Time Toymaker and Chou entered in a verbal contract when both parties negotiated the terms of BTT paying Chou $25,000 in exchange for exclusive negotiation rights for a 90-day period. The parties had an oral agreement at the conclusion of their meeting, and this converted into written contract when BTT sent the email
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INTRODUCTION TO BUSINESS LAW Introduction What is a contract and what constitutes a valid contract (chp 5) Quest.1: The employment of workers (chp 13) a. Refer to the definition-explain the relationship of the employee & employer and then the relationship of an employer/worker. b. Explain the difference between an employee and worker-each category has different rights. Refer to the text and also look at the website below. c. The employer offers a salary in exchange
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Oral contracts a. are not legal. b. cannot be enforced in court. c. lack agreement. d. are harder to prove than written contracts. 2. An illegal contract generally would be considered a. valid. b. voidable. c. implied. d. void. 3. Carlson fully performed her part of a contract to the complete satisfaction of Briggs, who has not yet paid Carlson. This is an example of a(n) a. executory contract. b. executed contract. c. formal contract.
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to market you’ll need a clear understanding of your target market and the needs and preferences of your target customers. Before entering a new market, you’ll also need to take time to evaluate your business and its strengths and weaknesses. Ask yourself the following questions: • How is business done in our industry sector and in our target market? • Where are the potential customers located? • What are their information requirements? • How sensitive are they to price? • What export experience
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ever, did the parties have a contract? Big Time Toymaker (BTT) granted Chou an agreement to a option contract. BTT pays Chou $25K to keep exclusive negotiation rights for a 90-day period. Therefore, BTT purchased the rights to negotiate a distribution agreement for Chou’s invention (a board game). The agreement stipulated that at the end of the 90-day period, if the parties could not come to terms on a distribution deal. Chou would be free to enter into a contract with another distribution company
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replacement criteria Principles: procurement strategy; specification; supplier identification; selection criteria; working with specialist suppliers; stock control LO2 Understand the suitability of various forms of finance and taxation available to UK business in general and the hospitality sector in particular Internal: managing the elements of working capital to free resources; internally generated funds; retained profits External: short-, medium- and long term; caring; risk and reward Cost of capital:
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