Business Law

Due to its nature, partnership is generally liable for the acts of the individual partners if committed in the course of the partnership business. However, liabilities of every partner may be regulated by the written agreement signed by partners. If no written agreement is signed by partners, liabilities of the partnership are regulated by the Partnership Act. If one of the partners retires, he or she may not be liable for the future debts of partnership if an official notice of the change is sent to creditors and the public. However, there were no official notice sent by the partners in the case; therefore, Toby may be liable for the debts of partnership. Due to the death of the third partner, partnership may be dissolved. In order to pay off the debts, assets should be sold and partners are free to continue the same kind of business after the dissolution of the

3. NuTech Company agrees to sell computer equipment to Office Stores, inc (OSI) for OSI to make to its customers. Their construct will be unenforceable if it does not include: the quantity of the goods.

36. Principle of Law: The transaction between Browne and Houlihan was just under negotiation process and not form the contract. Browne did not acknowledge Houlihan’s e-mail and did not reply to accept Houlihan’s request, so he sold the television set to another. Houlihan then purchased a new set more expensive than Browne’s set. Both of them didn’t break the contract because there’s no contract between them. Therefore Houlihan had no legal basis to sue Browne for $1,000.

8.  When is a buyer considered to have accepted performance regarding goods that are delivered pursuant to a contract?

 - the seller is to follow through with what is outlined in a contract. Buyers are required to pay for and accept items as any contract states.

The Uniform Commercial Code has language that requires certain sales of goods contracts to be in writing in order to adhere to the law, commonly known as the Statute of Frauds (Beatty, Samuelson, & Bredeson, 2013). The general rule for a sale of goods contract is that if the price for the goods are over $500, the contract must be in writing (Beatty, Samuelson, & Bredeson, 2013).

Market shall not exceed the net realizable value b. Market shall not be less than net realizable value reduced by an allowance for an approximately normal profit margin. Net Realizable Value Estimated selling price in the ordinary course of business less reasonably predictable costs of completion and disposal.

Mercedes Connolly and her husband purchased airline tickets and a tour package for a tour to South Africa from Judy Samuelson, a travel agent doing business as International Tours of Manhattan. Samuelson sold tickets for a variety of airline companies and tour operators, including African Adventurers, which was the tour operator for the Connollys’ tour. Mercedes and injured her left ankle and foot. She sued Samuelson for damages. Is Samuelson liable?

They also agreed on the quantity of goods to be sold and the pricing of the goods. Since the parties admitted to these things, K.S.A. 84-2-201 did not prevent the contract from being enforced.

u. P2) This implies that the seller who intends to enter a contract with a customer has a duty to disclose exactly what the customer is buying and what the terms of the sale are.

1. Identify the ethical, strategic, operational, and financial issues in this scenario and list them in priority order from most to least critical.

C. Quality: The degree to which a product or service meets customer requirements and expectations.

1. We conclude that Rump should recognize the liability for the expected employee termination benefits on the communication date, upon meeting all four criteria presented in ASC 420-10-25-4 and communicated to the employees, which is December 31, 2005. We believe that the termination of the employees is involuntary. We also concluded that the benefit arrangement is not to be treated as an enhancement to an ongoing benefit arrangement.

25.   Quality of conformance is concerned with whether a product or service conforms to its specifications.

S.14 also states that the seller of the goods must ensure that the goods sold are of satisfactory quality and also fit for purpose. That is the daily purpose and other purposes that were specifically agreed upon between the seller and buyer. The buyer is entitled to make a claim under the SOGA where the goods fail to meet the requirement of satisfactory quality and fit for purpose the buyer is entitled to make a claim