Concepts - Contract Law” The 5 +1 essential elements of a contract are: 1. Consensus – Basic Agreement – Offer/Acceptance 2. Consideration – Price – Money/Goods/Services 3. Capacity – Legal capacity-Competent to Contract… 4. Intent- Genuine Consent – No duress/undue influence… 5. Legality PLUS 6. Form of the Contract – oral/written/implied by performance Segment 1: Contracts: What are they? • contracts are the
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Standard does not deal with the following aspects of revenue recognition to which special considerations apply: (i) Revenue arising from construction contracts;6 (ii) Revenue arising from hire-purchase, lease agreements; (iii) Revenue arising from government grants and other similar subsidies; (iv) Revenue of insurance companies arising from insurance contracts. 3. Examples of items not included within the definition of "revenue" for the purpose of this Standard are: (i) Realised gains resulting from the
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ZAP Pharmaceutical Company had fixed contracts created for the refurbishment of their call center. Going back on the contract do to different events happening will cause a delay in progress. Several problems within the contract arose with the old project manager John that have been ignored and now Shawna has to be the project manager and make sure the project comes to an end. The dilemma that Shawna is having is that the signed contracts have issues and contradicting sections for the contractors
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CITE UCC AS ANALGOUS LAW THAT HAS APPEAL FOR C/L AND REVERSE UNCONTRACTS- Ways to avoid contractual liability other than simply performing the contract. There was no offer-KOON hypo GROG hypo 1. A reasonable person would know I really was joking (objective standard) a. See Lucy (applying the objective standard of assent and holding there was an offer even in the face of many facts that pointed the other way) b. See Pepsico (holding no offer since item offered to large, military
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soliciting sources, choosing a source, administering the contract, and closing out the contract. Procurement management, as far as your PMP exam is considered, focuses on the practices from the buyer’s pointof-view, not the seller’s. The seller can be seen as a contractor, subcontractor, vendor, or supplier. When buying anything from a vendor, the buyer needs a contract. A contract becomes a key input to many of the processes within the project. The contract, above anything else, specifies the rules and agreements
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name a few. (Management Concepts, 2012) Another offering Management Concepts provides is ten certificate programs. Certificate programs “are designed to help professionals develop the comprehensive knowledge and skills needed for highly competent performance and long-term success in their field.” (Management Concepts, 2012) Certificates earned may also be used to meet requirements of other certifying bodies. Management Concepts provides professional services as well. These services include, but are
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researched by Mr. Ashby? CJ Industries (CJI) The first issue presented for CJ Industries was its contract with Great Lakes. Though CJI had sufficient excess capacity to ramp up production on the parts to be supplied in the Great Lakes’ contract, they were not sure about the ability or willingness of Heavey Pumps to increase their production of the bilge pumps. The problem is that CJ Industries had signed the contract with Great Lakes prior to any discussions about ramping up production with Heavey Pumps.
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Recognize Contract Risk and Opportunity Erica D. Thomas LAW/531 June 7, 2010 Craige Harrison Recognize Contract Risk and Opportunity Contracts, no matter how large or complex, are promises negotiated between parties and should be written to ensure business agreements are fulfilled by both parties. Clarity of purpose is the hallmark of successful contracts because contracts are never free of interpretation (University of Phoenix, 2010) and poorly written contracts can ultimately result
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1. The three main stages of negotiating Government contracts are fact-finding, preliminary stage, and negotiation or bargaining stage. The fact-finding session is where both the seller and buyer discuss the different elements of the proposal but mainly both activities are focusing on listening to what the other side is saying. The buyer is asking detailed questions in order to get information required for further analysis, and the seller is trying to answer those questions furnishing as much information
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negotiation of competitors * Concerned abt strategizing regarding the sale of his firm * Primarily an ibm advanced business partner- sold ibm solutions and products * Sells cisco routers..etc * Into facilities management, maintenance contracts, technical consultancy and sale of non ibm software * Sales were negotiated on the basis of price besides brand * Hierarchy : 4 regions, 4 operation heads- operations heads report to CEO daily * Sales and support heads report to operations
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