Offer The first element in a valid contract would be offer. An offer or a promise or an agreement needs to be in contract because if there is no offer than there will be no contract. In the Contracts Act, 1950, the first elements in a contract would be offer. It is one of the elements to make sure that the contract is legally valid or acceptable. In a contract, it is very important that a party would make an offer. There is a difference of offer between an advertisement and an option. To make an
Words: 1969 - Pages: 8
without security officers, because there would be little protection from the police. Security officers are citizens, and as such, may detain someone until the police arrive to transport them. The police may have the security officer place the person under citizen's arrest, since the detainee did not commit a crime in the presence of the police officer. Security officers work hand in hand with the police to provide another level of protection. The security
Words: 12620 - Pages: 51
However, the result is pleasure as baby is born. This not only brings happiness to the mother, also to a greater amount of people especially the family members. The greatest happiness is given to greatest number. Bentham said: ‘Nature has placed us under the governance of two sovereign master, pain and pleasure. An act is right if it delivers more pleasure than pain and wrong if it brings about more pain than pleasure.’ This approach of Bentham can be used to decide on the right course of action as
Words: 833 - Pages: 4
for decades. However, a recent decline in contracts has resulted in a growing awareness of the dependence the business has on local economic conditions. Diego Martinez, president and son of the founder of Martinez Construction, now faces a growing certainty that the survival and continued growth of the family business depend on expansion into the international marketplace. In Barcelona, Diego had met many German tourists. They seemed to enjoy the warm sunshine of Spain. He also knew that many German
Words: 1965 - Pages: 8
INTRODUCTION Company profile NS Plastic & Metal Trading Sdn Bhd (933699-P) is a locally incorporated company under the companies act 1965 section 16(4) of the Malaysian Law. NS Plastic & Metal Trading Sdn Bhd (933699-P) was established in 24th February 2011 but NS Plastic & Metal Trading (001317810-P) was established in 2nd of October 2001 in response to high growing demand for recycling industry needs and the wholesale market for industrial waste products. They have developed strategic
Words: 8459 - Pages: 34
seems low because of the South Korean government’s guarantee of up to 90% of our capital investment, along with privileged access to low-interest loans.3. We have to consider how manufacturing in North Korea, given the international sanctions it’s under, would affect customs and trade agreements. Exporting goods made in the KIC could be problematic. | | Mark Lee: | Our factory would provide a better work environment than what they’re used to. But we would have no transparency and very little autonomy
Words: 592 - Pages: 3
Risk Tolerance The amount of risk NASA tolerated with the Challenger launch is absurd. NASA acted as though it were a busing system going to and from space. This high tolerance towards risk may have been caused by NASA falling into an overconfidence psychological trap. An overconfidence psychological trap is the process of estimating an overly narrow range of possible values, caused by initial impressions or past events (Hammond, Keeney & Raiffa, 1999). Prior to the Challenger, NASA had been
Words: 1410 - Pages: 6
When consumers make purchase decisions about products they will consume in the future, there are two forces: Impatience (which causes the product’s value to decrease if the consumers need to wait longer) and Uncertainty (which makes the consumers to over-estimate gains in the future and under-estimate loss in the future). Knowing those, and searching for some information on your own maybe, please try to answer the following questions: (1) How do you expect the two forces to make a consumer’s estimation
Words: 838 - Pages: 4
CRITICAL THINKING PROBLEM DUE ON THURSDAY, NOVEMBER 15 (ALONG WITH CASE #5) Europa, Inc., has two divisions, A and B, which manufacture expensive bicycles. Division A produces the bicycle frame, and Division B assembles the rest of the bicycle onto the frame. There is a market for both the subassembly and the final product. Each division has been designated as a profit center. The transfer price for the subassembly has been set at the long-run average market price. The following data are
Words: 1098 - Pages: 5
Moral behavior and acts are usually labeled by society as “good” or “bad” based on the ethical foundation that society deem them moral or immoral. Ethical acts and decision are sometimes questioned in certain situations because logically no moral code or law can be fair in every situation. In the article, the priest made the notion that stealing is valid for certain justified reasons in front of his congregation. This expressed that society today possibly we have abandoned to address some fundamental
Words: 962 - Pages: 4
