dollars. This way their clients will continuously receive the data on the location and routes of their boats. The clients must accept this service by means of two contracts. One that stipulates the purchase of the tracking equipment and other that stipulates the monthly fee by the tracking service, usually with duration of a year. Both contracts could have a discount, depending on the amount of services and equipment that is acquired. Lighthouse is the only producer of the tracking equipment and it does
Words: 787 - Pages: 4
Contracting and Payment Options Chontil Neville Procurement and Contract Law Professor Levasseur Introduction The government pays to its contractors when they submit invoices containing the prices of the supplies or the services rendered according to the contract’s terms. The invoices also contain any discounted or deducted amounts. The government is obligatory to pay upon deliveries unless they specify a due time to pay. For the purpose of selecting payments methods for the services and
Words: 2038 - Pages: 9
According to law for a contract to be sufficient but need not be adequate. There are four major elements which is very important in contract laws. First element is offer, whereby there must be an offer offered by the offeror or by offeree to each other which is accepted by the parties and which consequently creates a binding contract; offer is also an expression of willingness to contract done with an intention of creating a binding contract in as soon as the offer is accepted. The nature of offer
Words: 800 - Pages: 4
Final Paper – Acme Fireworks As the manager for Acme Fireworks, I have been asked to determine if common law or the Uniform Commercial Code (UCC) will govern the contracts entered into by Acme Fireworks. In addition, I am to analyze whether the five essential elements of a contract have been met. Acme Fireworks is currently licensed as a sole proprietorship. As such, I will examine any potential personal liability they may have if a spectator was to get injured during a firework display. Further
Words: 2902 - Pages: 12
scenario one many issues are in question such as whether this contract was legally formed, if the contract was assignable or if the contract was disregard and what the appropriate standards is for the non-breaching party. They need to take a look at the contract and decide if the contract was an acceptance and consideration. After reading the scenario the contract does not show any formation process, it also does not show whether the contract is valid between the two companies. In order for Foodmart
Words: 1474 - Pages: 6
1) Unilateral contracts require that only one party make a promise that is open and available to anyone who performs the required action, like collecting the reward for finding a lost car. This sometimes applies to advertisements to an extent. Some contracts are: 2) Bilateral contracts work differently because it requires two parties enter into an agreement where both parties promise to do something. However, the elements of either contract remain the same: - Offer by the promisor - Acceptance
Words: 279 - Pages: 2
Bank of America Name Professor’s Name Institution Date How administrative agencies like the Securities and Exchange Commission (SEC) or the Commodities Futures Trading Commission (CFTC) take action in order to be effective in preventing high-risk gambles in securities / banking, a foundation of the economy. Securities and Exchange Commission ha s the role of looking after United States investors against possible loss of profits. This is by keeping a reasonable and organized practice
Words: 1634 - Pages: 7
careless behavior which means somebody is not taking enough care in a situation where care is expected. People must be careful if actions affect others. If Alphonso wanted to sue the doctors for negligence, he should prove the four elements of negligence. For the Elements of negligence, it includes the duty of care, standard of care, causation and remoteness of damage.To duty of care, the defendant owed the plaintiff a duty of care about the reality of the lap band surgery. And the defendant had a
Words: 2201 - Pages: 9
Acme Fireworks Jessica Seibert BUS 311 : Business Law I Instructor Mark Cohen August 9, 2015 Introduction The future design of a company is not always thought about when deciding which entity a business should be. In the case of Acme fireworks, the owner, who we will call Jim, never anticipated his business would be more than a sole proprietorship. As his business grows, so does his liability as well as his taxes. It is time for Jim to change entities. His best bet would be to form an LLC
Words: 3033 - Pages: 13
Contract Creation and Management Assignment Paper George Van Hoosier LAW 531 June 26, 2012 Dr. Beverly Spencer Contract Creation and Management The scenario presented is on contractual conflicts. In summary, a software development company and a hotel company entered into a business partnership to develop an electronic reservation system for the hotel company. The groundwork of the plan changed and obfuscated what was expected by both parties. These changes were not communicated well enough
Words: 963 - Pages: 4
