Contract Essay Examples

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Contract Essay

350 words - 2 pages Contracts: A contract is an agreement that creates obligations that are enforceable by the law. A contract can either be written or spoken. There are elements to a contract that make it valid and binding. This is defined as a clear manifestation of willingness to enter an agreement made by another person with full understanding that their assent to the bargain is an invitation and is concluded. As to whether there was an offer in this case, yes there is an offer. When the salesman offered the buyers time for a test drive and they finally chose and agreed to buy the blue car it was a clear offer. Acceptance. This basically means that the terms of the offer have been clearly understood and VIEW DOCUMENT
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Team Contract Essay

1663 words - 7 pages TEAM CONTRACT: ___________________________(Group Number) Objective: To develop the roles and responsibilities of individuals and the team to support the management of your team throughout the semester. Background: Your team will be responsible for completing a team project this semester which requires developing and doing a major fundraising event along with 2 presentations and a final report. Each student will be entering in a performance contract with your team members. This document outlines this contract and provides a means for managing your team performance. To develop this team contract team members will need to negotiate team expectations by developing a shared VIEW DOCUMENT
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Sample Contract Essay

2040 words - 9 pages sentence or paragraph. It does not including removing nearly all the text from a page and replacing it with new text. If the client or an agent other than The Foundation4U attempts updating the client's pages, time to repair webpages will be assessed at the hourly rate, and is not included as part of the updating time. The six-month maintenance period commences upon the date the client signs this contract. Changes requested by the client beyond those limits will be billed at the hourly rate of $ _________. This rate shall also govern additional work authorized beyond the maximums specified above for such services as general Internet orientation education, marketing consulting, webpage VIEW DOCUMENT
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Purchase Contract Essay

899 words - 4 pages contract or any part thereof, or make any agreement with any person/company for the execution of any portion of the supply. In this regard consent by THE PURCHASER will not relieve THE SUPPLIER from full and entire responsibility for this Agreement. 13.That THE SUPPLIER shall indemnify THE PURCHASER in respect of all claims, damages, compensation or expenses payable in consequence of any injury or accident caused by them ie. THE SUPPLIER. 14.That the custom duty, VAT or other Taxes and cost of transportation, or any other incidental charges, if required in connection of the delivery of goods shall be borne by THE SUPPLIER. 15.That the Payment shall be made by THE PURCHASER from VIEW DOCUMENT
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Contract Creation And Management Essay

963 words - 4 pages 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, both internally and externally, to accommodate these changes (University of Phoenix, 2002). This case presented how a contract between parties was prepared, but what was required was VIEW DOCUMENT
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Vampire Human Contract Essay

440 words - 2 pages Jeff Cunningham BUL3130_CMB 14 Assignment 4 3 October 2014 Vampire-human contracts for the purchase and sale of blood I proposed the creation of legalized “blood markets” to allow us humans to transfer our property rights in our blood to vampires on a consensual and contractual basis. If both parties benefit, and their is voluntary consent the human-vampire contract should be enforced. It turns an act that was once in the shadows, a sign of duress, into now a legal exercise that has joint cooperation with a beneficial voluntary trade. Their is mutual assent for both parties, the Offeror, the human and the Offeree, being the vampire. When both parties benefit I don’t believe VIEW DOCUMENT
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Contract Of Agency Essay

7591 words - 31 pages CONTRACT OF AGENCY The general law of contracts is embodied in the Contract Act, 1872. The law of agency being a branch of the law of contracts, the same is incorporated in the said Act by giving it a full chapter on the subject. Thus sections 182 to 238 of the Contract Act, 1872 deal with the subject of Agency. Special enactments are also there and where a provision of a special Act is in conflict with the provision of the general Act, the former shall prevail unless the special law itself states otherwise. The wisdom behind this principle is to maintain consistency in law and to oust any ambiguity or confusion concerning any subject. PARTIES TO THE CONTRACT OF AGENCY AGENT AND VIEW DOCUMENT
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Zero Hour Contract Essay

1431 words - 6 pages not include the employee’s number of working hours (OGL, 2015). This is considered a way to make fast and easy money. The employee only comes to work when called by the employer (Downie, 2013). Some zero hour contracts include holiday pay; however, they do not include sick leaves (CIPD, 2013). In the United Kingdom, about 697,000 people work on zero-hour contracts, which is 2.3% of the UK’s employment rate (BBC News, 2015). Many people from different careers are on zero hour contracts including low-paid jobs such as McDonalds’ employees as well as high-paid careers (Blanchard, 2015). Considering the advantages and disadvantages of zero hour contract on both the employer and employees, this VIEW DOCUMENT
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Aspects Of Contract And Negligence For Business

4339 words - 18 pages [pic] [pic] | | |UK COLLEGE OF BUSINESS AND COMPUTING | |Course title |Unit number and title | |BTEC HND IN BUSINESS | Aspects of Contract and Negligence for Business VIEW DOCUMENT
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Recognizing Contract Risk And Opportunities Memo

577 words - 3 pages Recognizing Contract Risk and Opportunities Memo Law 531 Charles Cook January 31, 2011 Recognizing Contract Risk and Opportunities Memo DATE: January 31, 2011 TO: Kevin Grant Harold Smith Leon Ther FROM: Michelle Boldt RE: Banking Software Contract Issues Due to recent negotiations with the binding contract between Span Systems and Citizen-Schwarz AG (C-S), necessary changes have come to light. After thorough discussions between myself , Span Systems legal team, and CS's negotiator, Leon Ther, three major amendments within the contract have been agreed upon. Contract clause breaches Performance While performance has been under par in relationship VIEW DOCUMENT
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Social Contract Theory Of John Locke

1278 words - 6 pages Social Contract Theory of John Locke Luca D. Iaria University of Phoenix CJA 532/ Ethics in Justice and Security Professor: Cyril Vierra January 25, 2015 John Locke was a British Philosopher born in 1632. His most famous written work was The second treatise of civil government (written in 1690). This book focused on the natural state of man and how government should be structured. Locke was a fan of man to say the least. Locke describes man in his writing’s as being inherently good natured. Locke goes on to explain that man in a state of nature is peaceful. Locke contested that man should challenge authority by using self reason to search for the truth. He said that man shouldn’t VIEW DOCUMENT
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Parker V. Glosson

464 words - 2 pages Research Assignment Parker v. Glosson Contract In the case of Parker v. Glosson, it was stated that both Douglas and Sandy Glosson offered to see 36 acres that included a truck shop, warehouse, and office. In order for a contract to be valid between Glosson and parker, both Douglas and Sandy Glosson would have to sign the said contract. Only Douglas signed the contract, which made this particular contract void. According to our text, a contract is “an agreement upon sufficient consideration, to do or not to do a particular thing.” If both Sandy and Douglas are the sellers of the 36 acres then obviously both names need to be on the contract in order for it to go through. There was VIEW DOCUMENT
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Business Law

481 words - 2 pages Amanda Persico Case Scenario: Big Time Toymaker 1. At what point, if ever, did the parties have a contract? The parties had an oral contract when BTT and Chou agreed on an oral distribution agreement three days before the 90-day period had expired. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? The facts that would weigh in favor for Chou were the meeting that took place 3 days prior to the 90-day expiration period, the e-mail received from BTT outlining terms that were agreed upon in the meeting, and the fax that BTT sent to Chou requesting a distribution contract. The facts that would weigh against Chou were VIEW DOCUMENT
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Comercial Law Tutorial 3 Question 7

351 words - 2 pages Tutorial 3 question 7 The company was incorporated on 1st May. On 10th June the company commenced business whereby the company’s directors, on behalf of the company, purchased the shop from Jacob. Advise the directors the legal position of the company. In Malaysia the law allows a company to ratify a contract entered before its incorporation. Section 35(1) states that any contract entered into by a company prior to its formation or by any person on behalf of the company prior to its formation may be ratified by the company after its incorporation. In the case above, the contract between the company and Jacob may be ratified. Once the contract is ratified, it is binding on the company and VIEW DOCUMENT
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Paper Mill Scenario

357 words - 2 pages Paper Mill Scenario Natasha Miller Applied Business Law Everest University November 16, 2014 In this scenario, Delilah and I have an agency relationship. An agency relationship is where a principal engages an agent to carry out various duties on his or her behalf. This relationship involves delegating decision making powers to the agent by the principle; which means trust is a fundamental requirement for it to succeed. The agreement is that Delilah will negotiate the contract for wood pulp with the third parties. When determining the liability of the contracts made by the agent, the liability is based on whether or not the identity of the principal was made known to the third party VIEW DOCUMENT
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Week2

451 words - 2 pages Read the “Theory to Practice” section at the end of Ch. 6 of the text. Answer Questions 1 through 6 based on the scenario in the “Theory to Practice” section, and complete the following in your response: At the end of the scenario, BTT states that it is not interested in distributing Chou’s new strategy game, Strat. Assuming BTT and Chou have a contract, and BTT has breached the contract by not distributing the game, discuss what remedies might or might not apply. Explain your answers and refer to Section 7-6 in Ch. 7 for support. Submit your answers – there should be 7 total. 1. There was never a contract. BTT asked Chou to fax them a distribution VIEW DOCUMENT
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Paper

414 words - 2 pages Danny Edwards De Castro V. Vastola, 877 A.2d 372, 379 N.J. Super. 277 (2004) Facts: On March 18, 2004 plaintiffs, Carol Kilarjian and Dave de Castro and defendants John and Joan Vastola entered into a contract to sell the Vastola’s house on June 15, 2004. On June 14th the defendants’ real estate attorney wrote plaintiff’s real estate attorney notifying them that they will not convey the title. The reasoning for breaching the contract is that Joan Vastola has spinal muscular atrophy that has gotten considerably worse between the times the contract was entered to the time of closing of the contract. This disease has made it impossible for Joan to live independently and is now confined to VIEW DOCUMENT
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Business Law

2030 words - 9 pages Crime as In Illegal Contract Contents Summary 3 Introduction 3 Illegal Contracts violating statute or common law 3 Agreement to commit a civil wrong or crime 3 Contract to commit corruption 4 Agreements promoting prostitution 4 Contracts obstructing administration of justice 4 Agreements prejudicial to safety of public 4 Manner of Performance of contract is unlawful 4 Void Agreements due to public policy 5 Effects of Illegality 5 Restitution 6 Severance 6 Conclusion 6 References 7 Summary There is zero tolerance in contract law towards illegal, criminal or unfair transaction, and towards such methods which threaten the freedom of consent. The common law VIEW DOCUMENT
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Apple

1060 words - 5 pages Chapter 20 What constitutes a Breach of Contract? * The question of remedies does not become important until it is first determined that a contract has been violated or breached. Breach - failure to act or perform in the manner called for in a contract. Anticipatory breach – Promisor’s repudiation of the contract prior to the time that performance is required when such repudiation is accepted by the promisee as a breach of the contract. Anticipatory repudiation - repudiation made in advance of the time for the performance of the contract obligations. * To constitute such repudiation, there must be a clear, absolute, unequivocal refusal to perform the contract VIEW DOCUMENT
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Foodmart

1271 words - 6 pages When two parties have an agreement with each other and both agree to accept the terms, those parties form a contract. Many different types of contracts exist including written, oral, or implied. These contracts will allow both parties to see exactly what they are agreeing to and to help make any changes that may be necessary. A contract can be made void if that contract is made under duress, if any misrepresentation or fraud exists, or if there are mistakes made in the contract. Learning Team A will review several scenarios that involve contracts to determine the outcome of each as well as the legal ramifications. Scenario One Foodmart contracted with Masterpiece Construction to renovate VIEW DOCUMENT
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Hello

405 words - 2 pages Nearly as old as philosophy itself, social contract theory is the outlook that persons’ moral and political obligations are dependent upon a contract or agreement among them to form the society in which they live. Socrates uses something quite like a social contract argument to expound to Crito why he must stay in prison and accept the death penalty. However, social contract theory is properly associated with modern moral and political theory and is given its first full exposition and defense by Thomas Hobbes. After Hobbes, John Locke and Jean-Jacques Rousseau are the best known proponents of this enormously influential theory, which has been one of the most paramount theories within moral VIEW DOCUMENT
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Business Law

562 words - 3 pages Erica Patterson Week 4 Homework Assignment Business Law Professor McGovern 7/22/15 1. Does a contract to convey real property exist between Heikkila and McLaughlin? A contract to convey real property does not exist between Heikkila and McLaughlin because in this case a contract has not been put together at all. Now, David McLaughlin only submitted written offers to purchase three of the parcels and by the way, these are only “offers”. Not an actually contract or agreement. Heikkila has every right to withdraw from Mr. David McLaughlin to sell. I mean, he did not break any laws and there was no contract in place whatsoever. This is just a case of trying to VIEW DOCUMENT
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Boston Transplant Center

319 words - 2 pages CASE 9 QUESTIONS BOSTON TRANSPLANT CENTER Marginal Cost Pricing Analysis 1. What is the marginal cost estimate of the Phase 4 hospital services, assuming that 60 percent of the designated costs are fixed and the remaining costs are variable? 2. Create the relevant underlying cost structure (cost behavior) equation. What is the relevant range for this structure? How does the structure change if the contract is expected to bring more than 30 additional transplant patients? 3. What fixed cost proportion is implied if the price for Phase 4 hospital services is set at $90,000? 4. Now assume that the fixed cost proportion is only 50 percent. What price must be set to cover variable costs VIEW DOCUMENT
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Types Of Government Contracts

1191 words - 5 pages The contract type (e.g., fixed-price, cost-reimbursement) is a key consideration in any decision-making because the type of contract may determine the financial impact of the decision. For example, the financial effect of schedule changes varies widely, depending on the type of contract. This article focuses on how the type and attributes of government contracts must be considered to support successful financial performance for both the government and the contractor. Such information will be helpful to new project managers and others responsible for contract performance, as well as to more experienced managers who may benefit from a review of the basics of government contracting VIEW DOCUMENT
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Culbertson V Brodsky

847 words - 4 pages Mr. Culbertson V. Mr. Brodsky 788 S.W.2d 156, 1990 Tex. App. LEXIS 1008 Texas Court of Appeals, 1990 An illusory promise is a statement which appears to form a legal contract; however, it is vague, and lacks mutuality, providing an option for the person making a promise to have no actual obligation to perform as stated. For example, if someone says "I will make you a pie tomorrow”, this is an illusory promise, because the subject of the pledge is not being asked for anything in return and the baker is receiving no consideration for the promised activity. Because there is no consideration, there is no contract and neither party can enforce the deal (Beatty Sameulson). Mr. Brodsky VIEW DOCUMENT
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Working With People

310 words - 2 pages BTEC CENTER OF HFUT SCHEME OF WORK |Program |Business in Management and Business in Accounting Services | |Unit No |5 | |Unit Title |Aspects of Contract and Negligence for Business | |Name of Tutor |Zhang Hongsheng | |Name of Internal Verifier | | |Date Submitted VIEW DOCUMENT
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Essay

935 words - 4 pages CCL Assignment – Problem solving Mengqi Sun ------------------------------------------------- 17636587 1. Issue There are basically 2 issues in this case shown as following: (i) Whether there is a legally binding contract between Wacko and the Darebin City Council? If there is, how much should Wacko claim for prize money? (ii) Is there a legal binding contract between Leecher and Darebin City Council? If there is, how much should Leecher claim for the prize money? 2. Principles (i) Offer An offer is a legally binding promise made by one party (the offeror) to another party (the offeree). Once offers have been accepted, offeror cannot revoke it. The VIEW DOCUMENT
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Business

5143 words - 21 pages Acknowledgement I would like to express my gratitude to all those who helped me to complete this report. I am deeply thanks to the support from Mr. Rashani Meegama whose helps me to get information and knowledge that needed to make this work successful. I am also grateful to all my fellow mates who supported in the success of this assignment in providing necessary details. I would also like to thank my mom, whose support was very important in achieving the glory and success of this assignment. Executive Summary In this report it states that all aspect of contract and negligence of for business. Some of main aspects of contracts where further elaborated and discussed for the convenient VIEW DOCUMENT
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Business Law - 369 words

369 words - 2 pages Problem 1 ISSUE Is the terms of Ash’s contract with Davis Car Rental Pty Ltd unfair under the ACL? LAW ACL s.23 states that a consumer’s contract is unfair if: * It causes a significant imbalance in the parties’ rights and obligations, * It is not reasonably necessary to protect the legitimate interests of the business; and * It would cause detriment to the consumer. APPLICATION The car hire contract is considered as a standard form of consumer contract because Ash paid a deposit of $500 and signed the document. The terms in the contract referring to “the customer must return the vehicle by no later than the agreed time. Any failure whatsoever to comply with the VIEW DOCUMENT
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Aspects

3505 words - 15 pages Topic An Assignment on Aspects of Contract and Negligence for Business ------------------------------------------------- ------------------------------------------------- Submitted By: ------------------------------------------------- Student ID… ------------------------------------------------- Module Name: ------------------------------------------------- Group: ……. Date of Submission: …………… Table of Contents LO1 A valid contract in a Business Context 3 1.1 The importance of the essential elements required for the formation of a valid contract 3 1.2 Impact of different types of contract 4 1.3 Analyse terms in contracts 5 LO2 Elements of a contract in VIEW DOCUMENT
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Edexcel Assisgnemnts

1117 words - 5 pages | | | | | |Qualification |Unit number and title | |HIGHER NATIONAL DIPLOMA IN BUSINESS |5 / ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS | | | | |Assignment title |Aspects of Contract and Negligence for Business VIEW DOCUMENT
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Answer To Problem 2 Finacc2

7904 words - 32 pages actual warranty costs approximate the estimate. If sales and warranty repairs are made evenly during the year, the warranty expense for 2014 and 2015, and the estimated warranty liability on Dec.31,2015 are determined as follows: WARRANTY EXPENSE RELATED TO 2014 SALES 2014 First contract year of Jan. 1,2014 sales (2250000x20%) 450,000 First contract year of July 1, 2014 sales (2250000x20%x6/12) 225,000 2015 First contract year of July 1, 2014 sales (2250000x20%x6/12) 225,000 Second contract year of January 1, 2014 sales (2250000x40%) 900,000 Second contract year of July 1, 2014 sales (2250000x40%x6/12) 450,000 2016 Second contract year of VIEW DOCUMENT
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Week 5 Reflection

494 words - 2 pages Weekly Reflection – Common Contracts vs. UCC Article 2 Contracts are used on a daily basis. For example, agreeing to terms and conditions to download an app on a mobile device occurs daily and is considered a contract.  It is important to read and know what one is agreeing too; in this case apps are able to retrieve personal data from the authorized device. Both parties need to be in agreement with the terms of the contract in order for the contract to be made. If someone agrees and then adds to what was stated, it is not a valid contract (Melvin, 2011). The contract laws are governed by the common law and the Uniform Commercial Code known as the UCC. Common laws and the UCC are VIEW DOCUMENT
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Mark Reality Inc Vs Rogn

726 words - 3 pages " the brokerage agreements before the properties were sold and that the broker had never performed under the agreements. The trial judge construed the brokerage agreements to constitute mere offers to enter into unilateral contracts under which the broker would be entitled to a commission only if he performed by "finding a purchaser of the above property."  If the documents in question are merely offers limited to acceptance by performance only, the trial judge's analysis and conclusion would be correct. We cannot agree that the documents were only offers for a unilateral contract.  The documents illustrate what has been termed "the usual practice" in the making of bargains.  One party VIEW DOCUMENT
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Eth/321

2646 words - 11 pages Week 3 Knowledge Check Study Guide Concepts Mastery Score: 17 / 24 Questions Requirements for the formation of valid 67% 1 2 3 Enforceability of contracts 100% 4 5 6 Statute of frauds 67% 7 8 9 100% 10 11 12 67% 13 14 15 100% 16 17 18 33% 19 20 21 contracts Remedies for contract breaches Equitable remedies Sole proprietorships and partnerships Limited liability companies and limited liability partnerships Corporations 22 33% 23 24 Concept: Requirements for the formation of valid contracts Mastery 67% Questions 1 2 3 1. In which case is VIEW DOCUMENT
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Business Law - What Are The Rights And Duties Of A Minor In Relation To Partnership Business Distinguish Between (I) Sub-Agent And Substituted Agent (Ii) Sale, Bailment And Pledge

363 words - 2 pages Pledge 4. (a) Explain the rights of a partner. (b) Distinguish between the following: (i) Succession and Assignment. (ii) Contract of Indemnity and Contract of Guarantee. 5. Write short note on. i) Non-registration of a firm. ii) Capacity of Contract iii) Kinds of Bailment. iv) Anticipatory breach of a Contract. 6. a) When is a Surety Discharged from Liability by the conduct of the creditor. b) Describe the rules relating to passing of property in the sale of goods. 7. a) What is an illegal agreement? State the effects of illegality. b VIEW DOCUMENT
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Conflict Of Interest

866 words - 4 pages individual’s ability to perform his or her duties and responsibility objectively. The Contract Manager has the following conflicts: * Fails to disclose conflict of interest in tender invitation list ie brother; * Partakes in selection recommendation process whilst remaining silent about brother. * Failure to disclose conflict of interest to the CFO * Presents potential and perceived conflict with ongoing management of the service provider. WA Government Integrity Coordinating Group stresses a conflict of interest is not necessarily wrong or unethical but must be managed to ensure the interests of the organisation take preference. Personal interests such as brothers interest VIEW DOCUMENT
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Business Law Report

3252 words - 14 pages Part A: Question 1 Step 1: The legal issue of this case is to establish if there are legal intentions and also consideration that is required for contract. Step 2: An agreement is a compilation of acceptance and offer that both parties are able to agree on. An agreement is not able to form without the two components. An offer must be concise to the extent where it may be easily be approached to the other party to contract, which make the offer a legally binding document. An offer must be completed thoroughly and promissory, only then it can be considered an offer. A completed offer is defined as both party had come to an agreement and both parties understand the term and VIEW DOCUMENT
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Warren Agency Inc

494 words - 2 pages Warren could sell Allston within a month, he would get the commission for the sale and an option to sell the second property. At this stage, if Warren decided not to sell any more properties, then the contract would terminate. However, if Warren decided to sell a second property, then he had to choose between Belmont and Cambridge at this stage (but not both). Once he made the choice, he had one month to sell the property. (iv) If Warren failed to sell the second property within a month, then the deal was off. Warren would not receive any further commission or the chance to sell the third property. (v) If successful, Warren had the option to terminate the contract or sell the third VIEW DOCUMENT
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Fiffny Ess

515 words - 3 pages Date: 03/21/2013 UNITED HEALTHCARE PO BOX 740800 ATLANTA, GA-30374 To Whom It May Concern: We have not received a payment for services rendered to the above-referenced patient.. On 02/21/2013 our office was contacted by a third party carrier (Multiplan) requesting that we sign an agreement to reduce our rate from $43,124.00 to $489.00 stating that the rate was based on the primary surgeons’ reimbursement .Please understand that the primary surgeon has a contract with UHC, therefore to base our rate on a contract agreement between your office and another provider is unacceptable , furthermore after waiting for payment for over 7 months; There is no way that we will VIEW DOCUMENT
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Maple Farms V. City School District

526 words - 3 pages Issue This is a motion for summary judgment in an action for declaratory judgment whereby the plaintiff seeks, first, a determination that the contract wherein the plaintiff agreed to supply milk to the defendant school district at an agreed price be terminated without further liability on the grounds of legal "impossibility" or "impracticality" because of the occurrence of events not contemplated by the parties which makes performance impracticable and, second, a determination that the defendant school district has authority to unilaterally relieve the plaintiff of its contract without violating Rules The courts look at two elements in determining whether a person is able to be VIEW DOCUMENT
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Industrial Law

320 words - 2 pages LEGAL ASPECTS OF BUSINESS Credit Units: 03 Course Objectives To give insight to various Legal Aspects of Business so that the students are able to interpret the provisions of some of the important laws and apply the same in commercial and industrial enterprises. Course Contents Module I: Indian Contract Act, 1872 Nature and kinds of Contracts, Concepts related to offer, Acceptance and Consideration, Principles Governing Capacity of Parties and Free Consent, Legality of Objects, Performance and Discharge of Contract, Breach of Contract and its Remedies,Special contracts of Bailment and Pledge, Indemnity and Guaratnee, Contract of Agency. Module II: Sale of Goods Act, 1930 VIEW DOCUMENT
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Marketing

3584 words - 15 pages positions being adopted in a difference of opinion, parties may seek to enforce them or avoid them. An EAC may, depending on its wording, seek to: 1. confirmation the agreement of the parties that all the express terms are said in a document, thereby excluding other alleged express terms; i) prohibit a term that might otherwise be implied; ii) restrain (perhaps cease) a party from claiming that it was induced to enter the contract by some inaccurate representation of the other party; iii) specify that the parties need to deter courts from resort to "factual context" or "surrounding circumstances" when interpreting the contract; and/or 2 VIEW DOCUMENT
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Fasb Codification Case

288 words - 2 pages Case Study: FASB Codification Case Question 1: Access the FASB Codification and prepare responses to the following questions, providing Codification references as support for your answers. Access the glossary and give the definition for: Answer: A. Firm Fixed-Price Contract – A Fixed Price Contract is essentially a contract where an adjustment can’t be made because of the cost experience of the contractor or his or her performance under the contract. (FASB, 2012). So in another words, the price quoted is the final price—no extra hidden charges or fees can be added. B. Amortized Cost – Amortized Cost is where the sum of the initial investment minus the cash collected then VIEW DOCUMENT
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Cacts Assignment 1

915 words - 4 pages Relevant Facts Bernie placed an ad in his local newspaper advertising his 2006 Ford Fusion for sale for $13,500. Vivian calls him a few weeks later and offers to purchase the vehicle for $12,500. Bernie and Vivian enter into a contract on March 10th that states “Vivian shall buy the 2006 Ford Fusion for $12,500; the transaction shall take place no later than March 31. In the event that the seller breaches the agreement, the seller must refund the purchasers deposit, but the parties shall be limited to this remedy and only this remedy. In the event the buyer breaches the agreement, the seller may keep the buyers deposit, but the seller shall be limited to this remedy and only this VIEW DOCUMENT
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Case Study

448 words - 2 pages Case Study #1 Discussion Questions 1. Both Australia and Singapore are common law countries. Singatron and Semicontronics conclude their first round of negotiations with a Letter of Intent (LOI). If the deal falls through, will either party be bound to their commitments as detailed in the LOI? What can the parties do to limit the obligations to the terms of the LOI? Although LOI's may resemble a contract, they are not entirely binding. If the deal falls through neither party should be bound to any commitment outlined in the LOI unless there are provisions in the LOI like a non-disclosure agreement that is specified to be binding regardless of the status of the deal. To limit the VIEW DOCUMENT
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Asaiment Work

484 words - 2 pages When a contract is formed the declarations made between the two parties involved can be seen as either terms of the contract or mere representations, it is quite essential for the parties to be able to distinguish the difference between the two as it is criticall for both parties to know what course of action to take if such a term or representation is breached. In order to distinguish wheteher a declaration is a term or a mere representation the courts will analyse four factors, the parole evidence rule, relative expertie of the parties, importance of the declaration and the time that has passed form the declaration to the signing of the contract (e-lawresources). This paper will supremely VIEW DOCUMENT
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Law421 Wek 3

501 words - 3 pages Week 3 Individual Paper LAW/421 August 18, 2014 Rob Tischer Week 3 Individual Paper When an individual is looking to receive a specific product or service from another individual a contract is a viable piece of the puzzle. When you look at the different aspects of how a contract comes about both parties have to be aware of all the outlying terms and conditions. Mary displayed an offer to Liam and Mike to paint her house for a specific amount of $2500.00 dollars. When she spoke the terms of what service she wanted to receive from these two individuals she was speaking aloud an offer. A contract is formed when four viable steps are taken; offer, acceptance, intent of legal VIEW DOCUMENT
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Case 06-7: Crazy Computers

1817 words - 8 pages of coverage provided by the manufacturer’s original warranty. Product Maintenance Contracts An agreement to perform certain agreed-upon services to maintain a product for a specified period of time. The terms of the contract may take different forms, such as an agreement to periodically perform a particular service a specified number of times over a specified period of time, or an agreement to perform a particular service as the need arises over the term of the contract. Separately Priced Contracts An agreement under which the customer has the option to purchase an extended warranty or a product maintenance contract for an expressly stated amount separate from the price of the product VIEW DOCUMENT
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Asdflkasdf

1008 words - 5 pages Mr Leow has been an Australian resident for tax purposes for 6 years. United Nations offered him a job in an engineering role. The service was to be rendered in Somalia. The employment contract agreement was made between Mr Leow and an independent foreign company. Mr Leow was paid $25,000 by the independent foreign company under United Nation’s supervision. Mr Leow was offered this job in June 2010 and he was out of Australia continuously from 1 August 2010 to 14 November 2010. Mr Leow argues that the income he received from the service rendered in Somalia is exempt under s23AG of ITTA36. This essay will discuss about the tax liability of the income he received by reviewing his residency VIEW DOCUMENT