1. Case study (a) The contractual relationship between you and the plumber is contractor and subcontractor. (b) The plumber can review the plumbing tender and correct the error in his price. Because his price was not confirmed in writting. (c) To prevent this situation, to the subcontractor side, the tender document should be double checked; to the contractor side, all the tender price should be confirm in writting. 2. The annotation means included in the reference of ‘R v M [1995]
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Contract costing is an extension of job costing method, whereby the job to be carried out is not a small job of printing cards, fabricating machines etc., but the job involved is a big job to construct building etc., under a contract. In the history of costing, when contract costing was introduced as a method of costing, financial accounting already had a system of accounting for construction contracts. The same system was adopted under cost accounting as well. This is the reason why contract
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the signing of a base disaster recovery contract with a vendor that you feel will be able to satisfy your requirements over a long period of time. Remember that a commitment to disaster recovery is not for the short fall, but for the long term protection of your organization. Therefore since your investment both in time and money will be considerable, you must make sure that this investment is made wisely. Any disaster recovery vendor should offer contract terms that will fit your particular needs
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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
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When international buyers and sellers disagree No matter what line of business you’re in, you can’t escape sex. That may have been one conclusion drawn by an American exporter of meat products after a dispute with a German customer over a shipment of pork livers. Here’s how the disagreement came about: The American exporter was contracted to ship ‘30,000 lbs. of freshly frozen U.S. pork livers, customary merchandisable quality, first rate brands.’ As the shipment that was prepared met the exacting
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Theory to Practice Normally the contract would have been formed when before the expiration of the 90 day period the parties reached an oral distribution agreement at the meeting. However, the exclusive negotiation agreement stipulated that no distribution contract existed unless it was in writing. The contract was formed when the BTT manager sent the "Strat Deal" to Chou. Since the e-mail contained all the key terms of the distribution agreement including price, time frames, and obligation of
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Case Summary In 2008, entrepreneurs Eric Rybka and Kyle Vaughn created Hottie Hawg’s Smokin’ BBQ after Rybka became impressed with Vaughn’s grilling techniques and meat preparation. When Rybka initially approached Vaughn about a partnership, there were no numbers or facts given—just a casual suggestion that the two should become partners in a new catering business. Their partnership agreement was simple: Rybka would provide the technical knowledge and support of the operation, while Vaughn would
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1. Is Eye Vision’s arrangement with Holland Hospital within the scope of ASC 985-605, Software: Revenue Recognition? In this case, the main content of the Eye Vision’s arrangement with Holland Hospital include embedded software medical equipment and an initial option to purchase a two-year separately priced maintenance agreement. In this case, because “Eye Vision has never sold, nor does it offer to sell, the Clear View Laser without the embedded software because the software is necessary to perform
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shares, growing crops, grass, and things attached to or forming part of the land which are agreed to be severed before sale or under the contract of sale. Land is excluded from Sale of Goods Act, 1957. For Sale of Goods Act, 1957 to apply, it must be a contract of sale for a price. Contract of Sale is defined in Section 4(1) Sale of goods Act, 1957 as a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price. (a) When Ahmad agrees to exchange
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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
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