Essays on Contract

The Reasons Schools Contract Out their Services to Private Companies

The use of contracting services out to specialized service providers is increasing in school districts nationwide. Two of the most frequent areas where this practice occurs are in the custodial and transportation areas. The primary reason that this subcontracting of services is initialed is to save money. Many districts are struggling financially and service providers tout a huge savings while saving the school district’s administrative and other headaches in the process.
Relieving some of the headaches from administrators might sound well and good, but in truth, however, that in some cases, the subcontracting of services does save school Continue reading...

Introduction

A negotiable instrument is a document that guarantees payment to a specific person. The instrument must name the payee or otherwise indicate his identity. A negotiable instrument is transferable and in essence, it is a signed document with a promise to pay the holder of the document a given fixed amount of money at a specified date or on demand. Upon the transfer of the instrument, the legal title of the instrument is passed to the owner.

Promise and negotiable instruments

A negotiable instrument is a document used in contracts, and which guarantees the payment of a given sum of money unconditionally on Continue reading...

The growing popularity of the online business has brought up a significant impact on the contract law. In the past days, people used meet so that they can discuss on the term of the contract under subject. In this case, the parties involved had to agree on the same terms when they met. However, due to the emergency of internet, people do not necessarily need to meet in order to develop a contract. As a result, the internet had positively affected the contracts. In the recent years, people simply engage in agreements by a click of a mouse to Continue reading...

BUSINESS LAW

PART A
1. A contract refers to an agreement or a promise that is legally enforceable (Carter, 2006). In most cases, two parties are involved in making the agreement. For an agreement to be considered to be a contract, it must have some basic elements. The first basic element of a simple contract is offer (Allan and Hiscok). In general, terms, offer is the willingness that a party to the contract may express to certain terms of the contract. The offer is mostly made with the intention that the agreement immediately becomes binding after the offer has been accepted Continue reading...

Timmy Aldrich is a high school student who has been hired to sweep up the backrooms of Smedley Bottled Gas Company’s warehouse for two hours every Friday. Therefore, Timmy works two hours a week for the company. Under the law, Timmy may be classified as an independent contractor instead of an employee. To determine whether Timmy is an employee or an independent contractor, you will want to examine such things as whether or not Timmy offers his cleaning services to other businesses. As Timmy only works for that company for two hours on Friday, he could go to Continue reading...

- For Locke:John Locke, Second Treatise on Government, 1689
In the “second treatise of government”, Locke advocates that governments are formed through mutual agreement. He is of the view that those who are given the mandate to govern must do so without violating the fundamental rights and freedoms of the people. He opines that people acquire the rights to property, life, and liberty upon birth. Locke’s contention is that governments are supposed to protect the foregoing rights for the benefit of the citizens. Accordingly, he observes that the power to make laws is a preserve of the people.
Continue reading...

Introduction

The case dwells upon a decision, which is to be taken by the Global Positioning System Navigator (GPSN) Manager Wally Wizard at the largest automobile manufacturer in the United States, Behemoth Motors Corp (BMC). The scope of the decision looks at two alternatives: 1) in-house production of 8,000 units of GPSN per months to be installed on the Sports Utility Vehicles (SUV), and 2) outsourcing of this production volume to reasonably new Far East Enterprises (FEE) Company under the terms of two-year contract. There are three critical aspects that should be considered as part of the decision-making process: Continue reading...

When a breach of contract occurs, there must be a remedy of damages. This is the payment in one form or the other for a breach of contract by the breaching party, to the non-breaching party. There are various kinds of remedies, which include; Compensatory damages, Punitive damages, and Liquidated damages. In the law of contract, when a breach of contract occurs, the non-breaching party has to do all he/she can in order to minimize, the damages caused by the breach (Calamari and Perillo 45). However, some contracts contain provisions that specify a certain sum of money that is Continue reading...

The Oltz v. St. Peter’s Community Hospital
The Oltz v. St. Peter’s Community Hospital
Anti-trust laws or statutes are of fundamental importance to the health sector, as they influence existing health care entities in several ways. Influence is significant in factors such as how the health care entities grow and expand, especially regarding their relations with medical providers and suppliers and in their own individual or group interaction. Anti-trust statutes, as found under the United States anti-trust law, pertain to a collection of both state and federal government laws that are crucial in regulating the overall organization Continue reading...

1. Introduction
The supreme construction Pvt Ltd is one of the leading companies in the field of construction. Our company has a lot of clients; we are in this business since 25 years. The government has assigned the construction projects to the CE enterprises. CE enterprises have to build an IT park near the capital city. Initially, we need to choose the geological area for construction work: we need to choose the soil type and water: We need to choose the resources and the depth of the water table and the building area. The size of the building is Continue reading...

The critical behavior in the tender negotiation process

In discussing this contract with industry members, it is advisable while to possess characters that should send a signal of one who can be trusted and win the GPS Navigation System tender. This is a critical area that shows the capability of the fulfillment of the required conditions if our organization is to be awarded the tender. There are several behaviors that are most important. Professionalism and efficiency will convey information concerning our company in this tender application process . These qualities will show full knowledge in this field. In addition, being efficient will give the government agent, who is Continue reading...

Introduction

Disputes in the construction industry or in the process of honoring roles in a construction contract are not uncommon in many countries, a good of example which would be the United Arab Emirates (UAE) wherein the construction industry has been in a stage of boom for the past several years . Some of the world’s Mega structures and other fascinating architectural works are located in this Middle Eastern country. It is one of the largest exporters of oil and petroleum products and this country’s largest city, Dubai, is home to a range of spectacular and grand architectural works. Continue reading...

Domestic Sale of Goods

The selling of goods in the United Kingdom (UK) and the binding contract between both (seller and buyer) are regulated by The Sales of Goods Act (1979) together with its later Amendments. A contract for the sale of goods provides that the transfer of goods for the seller to the buyer will only be complete through money or consideration transaction also known as the price. In some instances, the contracts for the sale of goods will have additional terms and conditions that are super-imposed to the general rules that are applicable to specific contracts. These contracts include sale of Continue reading...

Purpose

Procurement outsourcing is usually utilized to reduce costs for goods and services. Acquisition of goods and services can be outsourced with the help of a third party, for example, a procurement outsourcing company. Outsourcing of business operations will result in cost reduction, efficiency of business processes, enhanced compliance, increased competitiveness, increased revenues, and offer an opportunity for the Company to focus on its core competencies.
According to Above the Standard Procurement Group Inc. (2012), many companies do not have enough internal staff or the level of expertise of internal staff engaged in procurement is low. Therefore, internal staff cannot Continue reading...

There are two major types of contracts; written and unwritten. Unwritten contracts are also known as oral contracts. Written contracts are usually a signed agreement between the parties. Written contracts prevail in courts of law over oral contracts when there is a dispute. Some contracts are partly written and partly oral.
I have come to appreciate the purpose of the contract in my personal life. Contracts allow parties to enter into business deals within the scope of the law. Contract formation acts as the evidence for the formation of the contract. Contract formation helps the parties to the contracts Continue reading...

Brian Epstein brought into the Beatles band some essential skills of management which were significant in improving the band’s image in the public and the media. This was quite beneficial in enhancing the popularity of the rock band. However, Brian had no prior experience with the players in the music business which includes; the media and the entertainment industry. This would, therefore, give room for the media and individuals in the entertainment industry to take advantage of Brian’s situation and exploit the entire music band. As a result, it would be prudent for the band manager to Continue reading...

Real Life Application Observations

The basic law of Supply and Demand:
If the demand increases and the supply remain unchanged a shortage occurs, leading to higher prices. This is one of the most relevant laws of economics that can be applied to real life. Let us take an example of today’s real estate market. The real estate prices have increased almost five to six times over past twenty years. This is mostly due to the influx of more and more people into our cities. Who thought that there would be a day where we would actually buy water! Thanks to the ever-increasing Continue reading...

Answer 1)

Securities Exchange Commission and Commodity Futures Trading Commission have an important role to play in the US Economy. While the function and objetcivbe of SEC is to protect theinvestors by ensuring that all the public listed companies provide fair and accurate financial information through their mandatory SEC Filings every year. It also ensures order and efficiency in capital markets which facilitate capital formation in US economy. Thus, the approach of SEC, assure that the securities market in US Capital Market are fairly traded, which helps the investor to take high- risk gambles and allows them to make sound financial Continue reading...

Quality performance in a global supply chain

A supply chain is required to be one of the most effective departments in any organisation if the organisation is to meet its objectives. However, from time to time, there are issues that emerge which hinder the smooth and the effective performance of the supply chain. These problems are quite detrimental in that they reduce the quality of the supply chain (Adobor and McMullen, 2007). The rationale of this paper is to fully examine some of these weak leaks in the supply chain and identify their causes. In addition, focus will be put on the ways in which the Continue reading...

1. What are the advantage and disadvantages of using currency futures and options to hedge?
1. Using Currency futures and options to hedge certainly have their pros and cons. The first and perhaps the greatest advantage is that hedging acts as a tool that can be used to diversify, which in turn leads to higher returns on investments. Secondly, hedging helps cut down the uncertainty levels by curbing down on the risk factor. This can lead to an increased sense of surety for a particular business, thereby ensuring that the business operates in a smooth manner. Lastly, hedging provides Continue reading...

The first instance represents a conflict of interest. This is because the printing firm owned by the spouse of the board member got the contract in a noncompetitive process. Contrary to good corporate governance which dictates that only the best and most efficient option be taken, this firm got the contract under terms that are suspect and thus vague. The cost of the contract is also suspect because it costs 25000 dollars instead of 1000 dollars.
The second example does not constitute a conflict of interest. This is because all board members had the choice on whether or not Continue reading...

A couple of years ago, I worked for Regal Contractors – a middle sized construction and renovation business organization. I was working under an employment contract which comprehensively spelt out the dos and don’ts that defined my job. Among these provisions was a requirement that I should dedicate my effort and skills solely to the best interest of my employer. To this end, I was only supposed to direct potential clients to the business organization, where they could be served accordingly. A time came when I got too many clients for my employer to handle.
I shared this information Continue reading...

Advantages of a partnership between Alpha Corporation and Omega private limited company in production and selling of calendars with African paintings
The main advantage of this partnership is pooling of both companies resources bringing about availability of sufficient capital. Thus, ensuring access to improved resources like experienced staff, experienced technicians, greater capacity plus financial resources
Second, the both companies have different skills and experiences and therefore the benefit of their common knowledge will be available to the business venture common to them.
Partnership also means sharing of profits and losses in an established ratio implying that risks are borne Continue reading...

Intricacies of the Time of Acceptance in Contract Law

Program
[Year] [Topic] Paper
Intricacies of the Time of Acceptance in Contract Law

Section Leader: [First Last Name

[Acknowledgement]

Introduction 04

The Rejection of David’s Offer .. 05

Andrew’s Acceptance . 06

Conclusion .. 10

References 11

Introduction
Beatty, Samuelson and Bredeson (2013: 252-235) identified seven elements for the creation of a valid contract between two principals: offer, acceptance, consideration, legality, capacity, consent, and writing. The offer must be of serious intent, reasonably definite, and communicated to the offeree (Ashcroft and Ashcroft, 1999: 57-58). The acceptance must unconditionally agree to the terms and communicated (Beatty, Samuelson and Bredeson, 2013: 252, 231). A consideration must be received by both parties (Ashcroft and Continue reading...

Business Law

Business Law
The subject of the essay is the rescission of the contract due to misrepresentation of Elvis Eggplant to induce Mr. Manfredi to buy the café from Happy Hippie Pty Ltd. The fraudulent scheme employed by Elvis led Mr. Manfredi to believe that the café was a profitable business to induce him to buy it.

Issue in the case:

The issue in this particular case is whether or not Mr. Manfredi can rescind the contract that was obtained by material false representation by Mr. Elvis Eggplant. Elvis misrepresented the past and future profitability of the vegetarian café by inflated at least 60 Continue reading...

Labor Environment for Unions

Labor unions impact the performance of an organizations as well as also impact on the role of human resource management therefore when a HR manager is hired it is also seen that whether the manager is able to deal with the labor management issues. Labor union means that according to act of national labor relations all employees have right to form a union in which they can use their bargaining power with the organizations. In organizations where unions are formed have to pay higher wage rate to their employees for their productivity .these unions safeguard the rights of all Continue reading...

International Finance Management

Reference list .
Introduction
Increasing participation in international trade exposes companies to the exchange rate risk. That owes to the possible loss of value in the amounts that are to be received for exports or the increase in the amount that has to e paid for imports. In that respect, companies need to apply strategies to manage the risk through various available techniques. In that view, this report presents a demonstration of those techniques’ application with reference to a company involved in payments and receipts of foreign currency. The report presents an analysis of the forward, swap arrangements and futures Continue reading...

The Situation

Regarding the chance hypothetically that you enter into a contract agreement with a job it is important to be aware of what this contract is legally binding you to. In this situation the contract in question will be regarding the fabulous hotel that hired a person as a head chef with a two year employment contract. When those two years were complete another job offer at a different hotel is presented to this person but there is one problem, and that is the employment contract at Fabulous hotel that was signed stated in it that, “The below-signed agrees not Continue reading...

Mayfair Ltd. would be obligated to pay Speedymove the increased price of £8,000 because the modification made to the contract was valid.
A binding contract is created through the process of mutual assent (offer and acceptance) and consideration, definiteness, and when no valid defenses or excuses to contract exist. In this case, both parties appear to agree that a valid contract was formed and existed to deliver 150 frames for an exhibition at the price of 6,000, 25 frames at a time over a period of six weeks, although the fact pattern does not specify whether the Continue reading...

The following analysis and recommendation was prepares in response to a request for add more personnel to our security force. There are four options available for consideration, namely proprietary, contract, hybrid and virtual.

Analysis

The oldest security system is the proprietary, or in-house, security force. A proprietary system works in and for the “parent business” (Ortmeier, 2004). Indeed, a proprietary system is an integral part of the staff and similar to any other company department such as administration, engineering and sales. The only difference is the focus; which for the proprietary system is to ensure that safety and security of Continue reading...

- Compare and contrast fixed-price contracts and cost-reimbursement contracts
Fixed price and cost reimbursement is two methodologies for making contracts for administration work. With the fixed price system, the agreement and contracting gathering consent to a fixed cost toward the begin on the project that does not change.

Benefits and drawbacks of fixed price contracts

With government occupations, organizations are normally needed to submit offers in specific ways, which regularly command an altered cost for the whole project. Organizations giving administrations to private organizations and shoppers would take a gander at the qualities and shortcomings of fixed price contracts in respect to different alternatives. Buyers progressively Continue reading...

- Methods used by Enron to manipulate accounting figures
The fall of Enron was one of the highly publicised corporate failures. The directors of the company manipulated the financial statements of the company to mislead users of accounting information. The methods used by the firm included mark-to-market and off-balance sheet financing as well as interference with auditor independence.

Mark-to-market accounting

Enron changed its revenue recognition policy from the traditional revenue recognition principle to mark-to-market accounting. As an energy company, Enron’s incomes were derived from mainly the sale of natural gas. As a practice, Enron entered into several long-term contracts with Continue reading...

Office floor cleaning is held as a service offered by the UCC. Since the UCC article 2 & article 9 covers only sales and/or cleaning as a franchise service or as an added complementary action to a sale, Serviceco’s contract will not be enforceable under the Uniform Commercial Code. Therefore, we need to subject it to the common law.

For our analysis, let us first do the following

Step I: The conditions of a contract which make it legally enforceable.
A contract is an agreement between two parties under which there is a
- An expression of interest from one party
- An offer from the second party.
Continue reading...

If the choice is between renegotiation and termination, Missan should renegotiate rather than terminate the contract. Unilateral termination may not be available to the company because of the weak grounds for its justification. It can, additionally, expose the Company to risk for potential wrongful termination, which can result to liability. On the other hand, a renegotiation can give Missan an opportunity to set new terms that are more favourable to it, taking into account the present circumstances.

Repudiatory Breach as Justification for Termination

Missan can only terminate the contract with Depeche if such termination can be justified, otherwise it may be exposed to liability for Continue reading...

According to Davide Colander, government acts like a “referee” in that government can act to “set rules” in the course of commerce. The major way is through federal and state legislation through the mechanisms of “taxes, subsidies, or regulations” (Colander, 2013). This works principally in business when two parties act together in a private contract to benefit each other financially. A problem arises when they are likely to “not take into account any effect that an action may have on a third party” (Colander, 2013). This is defined as an externality – company A and company B enter into a Continue reading...

Introduction

Insurance companies have been known to prefer large companies for business. The companies would rather indulge in companies that are massive in size. What appears to be the universal rule for many insurance companies is that the bigger the size, the more preferable a client will be. Many reasons can be used to explain the position taken by these insurance companies. However, the one fundamental factor that controls how business is done is the force behind this notion; money. It is evidenced that big businesses result in big money.
The insurance firms are likely to enter into a contract Continue reading...

[Subject/Course]
[Submission Date]

Social Contract Theory: Social Contract Theory was founded by Thomas Hobbes, a renowned English philosopher. According to this theory, the moral and political obligations of individuals depend upon an agreement (contract) among them for the formation of the society they belong to. The purpose of this contract is the establishment of a constitutional act for keeping the political body subordinate to moral values. Hobbes believes that social contract makes it possible for human beings to continue their survival on this planet. He maintained that by contracting socially, men surrender their inherent liberties for enjoying the safety Continue reading...

Depreciation can be described as a reduction in value of a given asset because of many factors. These factors include decay, rust, depletion technological outdating, usage, wear and tear, passage of time, inadequacy or any other such factors. Facility capital cost of money, on the other hand, is the imputed value that indicates the contractor`s cost of employing capital on investing in assets of facilities under construction that benefit the government. In other words, we can say plant capital cost is the accrued cost of investing in an asset while depreciation is the drop in value on this Continue reading...

Thomas Hobbes and John Locke are two English philosophers of the 17th century, who explored the nature of political processes such as the emergence of states and the subordination of the individual or society to political power. Although they used the same philosophical and scientific instruments and share categorical apparatus, their conclusions are quite different to each other. The fact that their ideas influence the political process in England at that time indicates the historical importance of their ideas. The fact that these ideas have been adopted by different political groups indicates a significant difference in the estimates. Hobbes Continue reading...

A broker in the dictionary is defined as a go-between in making relationships or a middleman (for example, a stockbroker or an insurance broker). (Tennyson 8)
A broker is any person engaged in the business of effecting transactions in securities for the account of others. (Compliance Guide to the Registration and Regulation of Brokers and Dealers)
In general broker operates as an intermediary between different organizations or private people that are willing to cooperate as partners in a sustainable development initiative.
There are internal and external brokers. Internal broker is a person, who deals within a partner organization and Continue reading...