Compudata – a computer software & systems company. You receive an inquiry from BMI, Inc. regarding your company’s various services. a. What are some of the legal issues you need to consider? i. How do we enter into a contract Contracts ii. What happens if BMI breaches Remedies iii. How do we protect our product IP iv. Are we dealing with the right person Agency v. What happens if we have a dispute Litigation
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off fireworks. Besides hiring new employees, we might run into a problem where if the large orders stop, we might not have the funds to continue to pay extra help. In this paper I will determine which contract the owner and the other business will need. I will also need to determine if the contract is governed under the common law or the Uniform Commercial Code (UCC). Conduct to see if all the five essentials elements are met in the contact. Develop different employee types and relationships while
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titanic that he will have to leave and look for a cheaper location of titanic cannot assist him in this difficult situation. Titanic, which desires to keep its tenants, agrees to accept $1000pm (but the rental agreement is not formally amended). Offer and acceptance, intention, commercial agreement, consideration, Joe did not provide consideration in support of titanic’s reduction in rental thus this promise is not binding. Rule in pinnel, part payment does not discharge the debt. Promissory estoppal could
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2. What are the features of consideration? Consideration is necessary for the validity of a simple contract. It can be a benefit or a loss to a party to the contract. Consideration may be executed or executory but it cannot be past. Consideration must be beyond the existing obligation of a party. This means, a party must do more than he is bound to do. In Stilk vs, Myric, the Captain of the ship promised extra salary to cover the work of two seamen who left the ship. Later, he refused to pay
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downtown Chicago, Illinois. He sells Rolek watches for $50 a piece which he purchases from Randy Rolek, a wholesaler in Milwaukee, Wisconsin. Business has been good and Wally needs to replenish his stock of Rolek watches. He calls Randy Rolek and offers to purchase 100 of them at $25.00 apiece for a total cost of $2500.00. Randy agreed to the sale and explains he is going to fax a written order for the sale of the watches which when Wally signs and sends back he will ship the watches. The order
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and Mr Mr C: There is no contract; this is an invitation to treat. And on another hand Mr. C made verbal agreement not to sell the book to anyone else until Mr. A phones him back in three days with a new offer, this is a new contract, but it does not exist yet. In the case of Mr A and Mr C, Mr A can claim that these was an agreement, and intention because it was a commercial arrangement, he also claim he providing consideration by offering to call back with a new offer. Mr C can defend himself
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against Defendants, A.H. and Ida Zehmer, for specific performance of a memorandum for the sale of the Defendants’ farm. Mr. Zehmer argued that their offer to sell to the Plaintiffs was a joke, and that they never intended to sell their land. Plaintiff offered to purchase the Defendants’ farm for $50,000 cash. Mr. Zehmer, believing that Mr. Lucy offer was a joke, executed a signed memorandum for him and his wife’s to sell their farm to Mr. Lucy for $50,000. The Defendant has several drinks when he
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Offer Cases 1. Wrench (D) offered to sell his estate to Hyde for 1200 pounds and Hyde (P) declined. Wrench then made a final offer to sell the farm for 1000 pounds. Hyde in turn offered to purchase the property for 950 pounds and Wrench replied that he would consider the offer and give an answer within approximately two weeks. Wrench ultimately rejected the offer and the plaintiff immediately replied that he accepted Wrench’s earlier offer to sell the real estate for 1000 pounds. Wrench refused
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What Is My Role in Managing the Contract? Introduction Introduction Approximate Length: 1 hour 45 minutes Welcome to the What Is My Role in Managing the Contract? lesson. Upon completion of the lesson you will be able to answer these questions: What Is the COR's Role in Contract Administration? Why Should the COR Talk with the KO? What Makes Up a Contract? What Else Might I Encounter When Dealing with a Contract? Print Version For a printer friendly version of this lesson, select the icon on the
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Week 4 Reflection LAW/421 June 15, 2015 Elizabeth Manassau Week 4 Reflection “A contract is promise enforceable by law to either do something or refrain from doing something” (Melvin (2011). We deal with contracts or agreements on a daily basis, it happens everywhere. There are four elements of a contract. First is the agreement, which includes two parts: offer and acceptance, this indicates mutual assent, the second one is consideration, which indicates the values that must be bargained
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