look at providing value above basic telephony services and provide value added services which will allow it to charge a premium • Contracts must be drawn to outsource activities that can be done better by market firms to free up resources for other activities; avoid contracting and tendering repeatedly to reduce transaction costs associated with going for a new contract every few months Decision to outsource • Bharti Airtel should enter the outsourcing agreements and hand over the responsibility
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Make vs. Buy Revisited Reassessing your company’s manufacturing strategy M ake or buy? The classic manufacturing question still has no easy answer. Amid signs of demand recovery, but with capital still limited and resources thinned by restructuring, top executives today are revisiting the issue. To come to the right make-or-buy decision, leading companies resist the temptation to “feed the beast.” Instead of focusing only on short-term gains, these leaders keep their long-term strategy
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2014) High-level process steps for conducting project procurements The process of conducting project procurements incudes an exercise whereby responses are obtained from sellers, selection of a seller who the project finds suitable and awarding the contract to this seller. This process involves utilization of various inputs, tools and techniques to obtain desirable output. The process of conducting project procurement is multistep and the process includes five major steps as follows: Specification
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From: Erin N To: Contracts Course grader Date: 12/13 Re: Assignment 1 MEMO FACTS Bernie lives in Richmond, VA and he decides on February 1 to advertise the sale of his 2006 Ford Fusion for $13,500 in the local newspaper. After several weeks and no offers he gets a call from Vivian on March 1st offering to purchase the car for $12,000. Bernie realizes he may not get any other offers and sets up to meet with Vivian on March 5th to complete the sale transaction. After the negotiations
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transactions may differ. Discussion 5-step revenue recognition proposed model 1. Identify the contract 2. Identify the separate performance obligations 3. Determine the transaction price 4. Allocate the transaction price to separate performance obligations 5. Recognize revenue as performance obligations are satisfied Basic elements of the proposal * It would apply to all contracts with customers except leases, insurance, financial instruments and certain nonmonetary exchanges
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3. Partnerships a. Definition: the relationship that exists between persons carrying on a business in common with a view of profit (section 1 Partnership Act 1892 (NSW) It is the pooling of resources in order to make profits persons • carrying on a business • in common, and • with a view of profit. • Persons — At least two persons are required to form a partnership. There is also a maximum number of partners: no more than 20.4 Certain professional partnerships, however, are excluded from this
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INTRODUCTION TO THE LAW OF CONTRACT DEFINITION A contract may be defined as a legally binding agreement or, in the words of Sir Frederick Pollock: “A promise or set of promises which the law will enforce”. The agreement will create rights and obligations that may be enforced in the courts. The normal method of enforcement is an action for damages for breach of contract, though in some cases the court may order performance by the party in default. CLASSIFICATION Contracts may be divided into two
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Marie S. Hemsley Contract Negotiations Mon-Wed. 7-8:20pm Chapter 6 – Section VIII NEGOTIATIONS Negotiating government contracts and modifications is an art, a science, and an acquired skill. In order to acquire the skill, the negotiator must have a firm knowledge of the basic rules of government contract law and appropriate contract procedures. A successful negotiation depends on communication, price demands, and complete preparation. Negotiation without adequate preparation invites failure
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“A statement that appears to assure a performance and form a contract but, when scrutinized, leaves to the speaker the choice of performance or non-performance, which means that the speaker does not legally bind himself or herself to act.” That is what an Illusory Promise technically means. Illusory Promises are pretty much fake contracts. Courts will not enforce an illusory contract. Most of the time, a contract is considered illusory when it has a lack of consideration. This name came from
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Formation of Contracts McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. Written versus Oral Contracts n While the word “contract” is often used to describe a written document, many contracts are not in writing and yet are enforceable. 6-2 Bilateral Contracts versus Unilateral Contracts n A bilateral contract involves two promises and two performances. A unilateral contract involves one promise, followed by one performance, which then
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