•JoeCo. recently made a relatively large sale of computers to a new customer, The Gamery. As part of the sale, the customer ordered 12 extremely fast and expensive ABC video adapters, which is not an item you regularly stock, so you would have to special order them. •At the time for shipment of the computers per the agreement, you still hadn’t received the adapters from your vendor. Per instructions from the customer, you went ahead and shipped the computers and were to ship the video adapters
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essential that contracts contain the required elements to be legally binding and protect both parties involved. Additionally, it is pertinent to understand the difference between contracts governed by common law and those governed by the Uniformed Commercial Code (UCC). Finally, prior to signing a non-compete agreement or asking someone to, it is important to understand the circumstances that make it enforceable as well as the diversity of enforcement standards as they vary from state to state. Five
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his business through proposing a new business entity, different employment types and relationships relevant to law, the liability to Acme Fireworks if spectators are injured due to his displays, and the contract and whether it is enforceable under UCC. II. Body paragraph #1 - Topic Sentence # 1 As with all other business, Acme would be no different when coming into a problem with potential personnel liability. If a spectator is injured by a stray firework from one of their
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A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, with the payer named on the document. More specifically, it is a document contemplated by or consisting of a contract, which promises the payment of money without condition, which may be paid either on demand or at a future date. The term can have different meanings, depending on what law is being applied and what country it is used in and what context it is used in. Examples
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Business law assignment Business Law Assignment Common law and stare decisis Common law is all that law that is made by judges. It is initiated by citizens when they file cases in courts. Stare decisis is a term used in the common law to mean that decisions made in court cases should be based on previous decisions. It simply means that the decision should stand. It therefore means that in business, this is a principle that can assure a business person of the ruling of a case that is similar to
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Case: Jannusch v. Naffziger, 379 Ill.App.3d 381,883 N.E.2d 711(4th Dist. 2008) FACTS: Plaintiffs Gene and Martha Jannusch operated Festival Foods, a business serving concessions to the general public at festivals and events in Illinois and Indiana. The business operated annually from late April to late October. Along with concessions, the business included assets of a truck, serving trailer and food preparation and serving equipment. In 2005, Defendants Lindsey and Louann Naffziger expressed
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an agreement will determine if the contract is valid or unenforceable. In this scenario both parties have an oral agreement, which took place before the 90 day expiration period. According to Uniform Commercial Code (UCC) a contract can be enforced based on a larger picture that consists of (1) past commercial conduct, (2) correspondence or verbal exchanges between the parties, and (3) industry standards and norms (MELVIN, 2012, p. 182). The question is, are the agreements enforceable since both a
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following contractual elements including: (a) offers, (b) acceptance, (c) legal consideration, (d) capacity, and (e) legality of purpose. In addition, the assignment will identify the components that govern the parameters of common law and the Uniform Commercial Code (UCC). For the purpose of this study, a fictitious scenario (myself) has been hired and offered a two year contract as the head chef of the Fabulous Hotel Company. As a sample to illustrate contractual issues that individuals may encounter,
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| | Business Law and Corporate EthicsBe Careful What You Sign| | Tiffany Sigala| 7/30/2014| The purpose of this essay will be to state my opinion of which country the dispute should be handled in.| If Letisha does not pay and Sudson sues her for breach of contract, what legal arguments could be raised in Letisha’s defense against the enforcement of the automatic renewal clause? According to definitions.us.legal.com, some state and local laws do not enforce automatic renewal clauses
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Especially when regarding risk of loss. Risk of loss in sales contracts refers to who will be held liable if an unforeseen incident occurs as in damage or loss of the items for sale. Under section 2-301 General obligations of parties of the Uniform Commercial Code, “The obligation of the seller is to transfer and deliver and that of the buyer is to accept and pay in accordance with the contract.” However, there are some additional conditions. 2-509. Risk of Loss in the Absence of Breach. (1) Where
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