Contract Laws Of A Country

847 Words Jun 5th, 2016 4 Pages
Legal
• Contract Law - Contracts arise all the time in business relationships. It is important to understand the contract laws of a country, so mistakes are not made while writing up contracts. Incomplete contracts can cause problems if someone breaches the contract and stipulations were not outlined ahead of time in the contract. Understanding contract laws of a country will enable the company to avoid possible future problems that could end up being costly and timely for the corporation.
• Manufacturer Warranty - This has to do with the relationship between the customer and the company. When a consumer chooses a product, any expressed warranty on the product must be upheld. If the company promises satisfaction guaranteed, then they must express what the returned value would consist of if a consumer is not happy, and follow through on that promise. Consumers expect a level of implied warranty as well, this means they expect a certain level of quality with a product, and any failure of that means the company will also need to offer equal value for a failure to meet that warranty. If a thumb is found in a can of Coca-Cola, the company must step up to correct this issue for the consumer even though the circumstance was not outlined as an expressed warranty on the can. Consumers expect a level of quality when they purchase a product, and the company must stand behind the product.
• Product Liability - If a claim is brought against a company for their product harming a…

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