new apartment or starting a new business. Contract Law: it can be stated as “the body of law that administrates oral and written agreements associated with exchange of goods, money and property.’’ A contract law includes certain other aspects such as the nature of contract, contracts limits, freedom of contract and ending period of contract. Contract law is an agreement between individuals and is upheld by law and penalties are enforced if the contract is void or tempered with once the agreement
Words: 2903 - Pages: 12
Otis Toy Trains is faced with the challenge of dealing with increasing labor costs. Until this point, Otis has been able to deliver a detailed and refined train series at a price customers are satisfied with. Chinese company JLPTC has announced its ability to produce the same train and cut manufacturing costs up to 60 percent. In order to survive, Otis needs to cut costs and evaluate the potential success of its strategic options. Otis could accept the proposal in its entirety. By doing this, Otis
Words: 653 - Pages: 3
and those without direct financial interests in the client such as the broader business and financial community and members of the public. All these people could be reliant on the quality of the auditor’s work, even though they are not party to the contract between the client and the audit firm. The reliability of the financial reports and the audit report is potentially damaged if the auditor does not act with integrity (honesty), objectivity (being independent), with professional competence and due
Words: 10923 - Pages: 44
Sesame’s behaviour? How will competition laws be enforced globally? (5 Marks) 4. If SesamWare had been headquartered in a country that had no competition laws, as is the case in many developing countries, or if SesamWare never entered into a contract (for example to buy out a competitor) with a party from the U.S., how could the U.S. claim jurisdiction over the enforcement of its competition laws?? (5 Marks) 1. Assuming that ParaWorld is an open-world game, the scope for IP infringement
Words: 672 - Pages: 3
Marietta Corp for denying employment because of her gender. She too added other allegations such as the company wasn't accepting job application from those women who has pre-school kids, but at the same time men who had pre-school kids were employed and company was accepting their application. As, a result nothing could be proved as the company showed that it was hiring women and men equally in the company in different positions (PHILLIPS v. MARTIN MARIETTA CORP, 1971). Jennifer Maudlin a single mother
Words: 641 - Pages: 3
did not tell company B after accepting to work there that he already accepted to work company A. • The student did not notify career services office about any of this. Step 2: Clarify the Facts • The student agreed to work for company A at the beginning, because he did not hear from company B (yet). • The student later was accepted to work for company B; since this was his first choice he accepted that offer as well. • The student went back on his words and declined company A after already
Words: 1413 - Pages: 6
Bloom Appellant v The American Swiss Watch Company Respondents 1915 AD 100 Appellate Division, BLOEMFONTEIN. 1915. February 2, 3. INNES, C.J., SOLOMON, J.A., and DE VILLIERS, A.J.A. Flynote Contract. --- Reward. --- Animus contrahendi. --- Contractual privity. Headnote After certain property had been stolen a reward was offered to any person giving information which would lead to the arrest of the thieves and the recovery of the property. The appellant and others claimed this reward for information
Words: 3534 - Pages: 15
requirement, on June 15. Four suppliers have submitted substantially different bids for this contract which begins in August 1. Loren Inc. is the Canadian subsidiary of a larger chemical company, and have an excellent reputation for quality products and had substantial in total sale. Brent has been appointed raw material buyer, reporting to the manager of chemicals buying group, and the hexonic acid contract will need to be approved by his immediate supervisor and the director of department. Brent
Words: 853 - Pages: 4
You Be the Judge – 2 SUBJECT: The Marley Cooling Tower Company v. Caldwell Energy & Environmental, Inc., 280 F. Supp. 2d 651 United States District Court for the Western District of Kentucky, 2003 A. Facts From the case notes, Caldwell manufactures and installs cooling systems for power plants. There was an agreement between Caldwell and Duke/Fluor Daniel to install one of their systems in South Carolina. Part of the contract stated that Caldwell would “pay liquidated damages of $5,000
Words: 1046 - Pages: 5
ELEMENTS OF A CONTRACT AND ENFORCEABILITY UNDER COMMON LAW AND UNIVERSAL COMMERCIAL CODE (UCC) Student Name: Michael Shepard Course Name and Number: Business 670: Legal Environment of Business Instructor: Dr. Leah Westerman Submission Date: April 20, 2015 Abstract This article will define the five elements needed to form an enforceable contract under common law and the Uniform Commercial Code (UCC). It will describe which types of contracts come under common law and under UCC.
Words: 2736 - Pages: 11
