made in response to a previous offer by the other party during negotiations for the final contract. Discussion- The case clearly shows that Tom was offering to sell a Triumph TR6 for $10,000. Chris in reply offered $8000 which the defendant refused and stated that cheque was preferred for advertised amount. The plaintiff then sought to accept the original offer of $10,000. However there was no contract. Where there is a counter offer, this destroys the original offer so that it is no longer
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1. How would you define Lancer’s business? Lancer Gallery is a company headquartered in Phoenix, Arizona that sources and sells South American and African artifacts. Lancer Gallery began in the early 1900s as a trading post operation near Tuscan, Arizona. The company became known for selling original southwestern jewelry and pottery. Lancer eventually expanded its product line to artifacts from Peru and Venezuela, along with tribal and burial artifacts from Africa. Lancer established a national
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Accepting the contract offer from the mass merchandiser is ill-advised for the following reasons: loss of competitive strength, demoralize buyers, and create the challenge of meeting demand of replicas. Artifacts which are sold to collectors at a high price will become less common and perceived as fake while replicas which can be bought by anyone for decorative purposes will increase in number. Accepting the contract will change the current distinctive competency and brand image. Furthermore,
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well. Again this increases inherent risk. Failure to take action against employee fraud brought to the directors’ notice by the auditors is more serious. This fosters a visible culture of unethical behaviour that is likely to permeate the company and to be shared by other employees. This will result in a weak control environment. Introduction of a new computer system must be undertaken very carefully. In addition, an unnecessarily complicated system is one of the warning signs of fraud
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Introduction Lancer Gallery is a limited liability company that sells a wide variety of authentic artifacts such as African and South American Artifacts. The company was well known as a reputable dealer in selling authentic southwestern jewelry and pottery and also as main sources for these kinds of artifacts. Problem Lancer realized that the company faces with the shortage of supply of authentic artifacts. This problem arises because it’s quite hard for Lancer to find new authentic artifacts
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Baker Popcorn v. Ratzlaff PART I In the civil case brought on by the plaintiff Bernard Baker of Baker Popcorn Company against James W. Ratzlaff, the farmer he contracted with to grow the popcorn crop, the courts sided in favor of Bernard Baker. The plaintiff, Baker, claims that Ratzlaff breached the contract that was drafted by Ratzlaff that Baker would provide the seed for the popcorn crops and Ratzlaff would grow and harvest the corn and then deliver it to Baker’s plant. The plant that Baker
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to a third party vendor. This in return resulted in Foodmart suing masterpiece for a breach of contract. Who wins? In the case of Foodmart vs. Masterpiece, Foodmart wins. Although, Masterpiece argued commercial impracticability, the first element of the commercial impracticability states “Something unexpected must have occurred"(Cohen Seglias Pallace Greenhall & Fermac PC, N.D.) for a company to plead impracticability. The third element states and the unexpected occurrence must have rendered
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Introduction S 2(b) - when a person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted, a proposal when accepted becomes a promise. The person accepting the proposal is called the ‘promisee’ or the ‘acceptor’. * A proposal when accepted becomes a promise. * The person accepting the proposal is called the promisee. * When an acceptance of any promise is made in words, the acceptance is said to be expressed. * If the acceptance is made in words, the
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Selling price is $4,350 per unit, based on the company’s normal volume of 3000 units. Problem Statement Hospital Supply Inc. has an opportunity to increase its profits with the following course of actions: •Cutting the selling price. •Accepting a contract offer from the federal government. •Entering a foreign market. •Partnering with an outside contractor. Objective The objective of this case is to recommend which among the opportunities should Hospital Supply Inc. take in order to
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before confirming we are making a bad part. This is similar to the R&D at Corwin where West had just completed the first fife tests and was planning to make changes with the results obtained from those tests. Ray the representative form Peters Company had redirected the project and disregarded any previous testing. West did the right thing by reviewing the results and new matrix with the engineers. But he did not fallow thought with their recommendation. As a project manager the first thing I would
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