LWC1 STUDY PLAN CONTRACTUAL RELATIONSHIPS Chap Study Questions -10 1. What is the definition of a contract? An agreement between two or more parties for the doing or not doing of something specified. 2. Describe the various types of contracts. 1) Bilateral and Unilateral 2) Express and Implied 3) Executory and Executed 3. Identify and describe the theories of recovery in contract law. -17 1. What conditions would constitute a discharge of a contract? 1) Material breach 2) Minor breach 3) Anticipatory breach 4) Mutual Rescission 5) Accord/Satisfaction 2. Describe the conditions for a discharge of a contractual obligation. Full performance: the parties do what they promise. Agreement: termination by mutual …show more content…
Wrongful Discharge 4. Occupational Safety and Health Administration (OSHA) 5. Employee’s Right to Privacy 6. Discrimination in the Workplace 7. Title VII of the Civil Rights Act of 1964 8. Americans with Disability Act (ADA) 1990 9. Wrongful Hiring Practices 10. Contractual Employment 11. Performance Reviews 12. Progressive Discipline Programs WARRANTIES, NEGLIGENCE AND LIABILITY Chap Study Questions 21 1. What is an express warranty? 2. What is an implied warranty? 3. What is a disclaimer? 4. What are the limitations on remedies for breach of warranty and product liability? 5. What is negligence and how does that concept apply to a manufacturer? 7 1. What is negligence? 2. What is strict liability? 3. What are the defenses available to an action for negligence, or an action for strict liability? Key Topics 1. Types of Warranties 2. Strict Liability and Remedies 3. Negligence SARBANES-OXLEY ACT Chap Study Questions 36 1. What are the basic provisions of the Sarbanes –Oxley Act? 2. What are the rights of shareholders? 3. What recourse do shareholders have against corporations if shareholder rights are violated? 37 1. What are the key provisions of the Securities Act of 1933? 2. What are the disclosure requirements of the Securities Act of 1933? 3. How did Sarbanes-Oxley change the disclosure requirements of the Securities Act of 1933? 38 p. 901-907 1. What are the audit
A contract is an official agreement between two parties. There are different types of contract, such as sale and purchase of a business agreement, partnership agreements, lease of business premises, lease of plant and equipment and employment agreements. The format can vary too. It can be face to face, written, or distance selling. The specifications of a contract involve offer and acceptance, the intention to create legal relations, lawful considerations, capacity and legal formalities such as terms and conditions.
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A contract is an agreement that creates an obligation that is enforceable by the law. The law has clear guidelines that before there exists a contract that will be binding, there has to be an offer, acceptance, mutual obligation and all parties should be of sound mind and by law be of legal age. A contract can either be written or spoken. Assuming that the buyers were at the required age went to the car dealership looking to purchase a new car.
Explain the general differences between intentional torts, negligence, and strict liability. Additionally, explain the elements of intentional torts and negligence and provide working examples to illustrate each.
A contract is an agreement between and offeror, and an offeree, that can be enforceable by a court of law or equity (Cheeseman, 2010). A contract consists of the following elements; agreement, consideration, contractual capacity, and lawful object. Understanding each of these elements is of the utmost importance to ensure that each party involved has a good understanding of what is expected from one another.
A contract in its essence according to Davitt is “a union of two or more persons, originating in their mutual promises enforceable in law, for the reordering of their relations of title, duty and claim regarding something to be done or not to be done.” Id. at 273. The tricky part concerns what a mutual promise enforceable in law entails. As stated above, there are many difference schools of thought about what fills in the gaps of promises and what is enforceable by law.
A contract is simply an agreement which has legal value so that it is binding on both the parties, and each of the party can enforce it lawfully in case of any contravention of the terms of agreement. For an agreement to take the form of a contract, it is necessary for it to contain four essential components of a legally binding contract . These include,
Contract is defined as an agreement between two or more parties creating obligations that are enforceable or otherwise recognizable at law. For purposes of this chapter, we are concerned with agreements to buy and sell some type of agricultural product. Contracts 101 You should be concerned about contract law because it determines how parties to the contract will need to keep the promises they make. Although very few contracts ever end up in court, if the parties to a contract disagree on something and are unable to resolve the disagreement, they may have to resort to the judicial process. This means that as the parties negotiate a contract, they need to consider how a judge might ultimately interpret it. For a contract to be enforceable, it must involve:
A contract is an arrangement between two or more parties that creates rights and obligations to each party. The essential parts of a contract are as follows:
for it to qualify as a proper contract in the eyes of the law: offer
A contract is an agreement made with an intention of legal rights and obligations which the law will enforce. It contains the agreement, consideration and intention. It also have some other things to consider, like capacity of parties, genuine consent or legality of object.
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A contract is a written or spoken agreement between two or more parties that involves the exchange of two promises, which is intended to be enforceable by law. The four basic elements are the offer, consideration, acceptance, and mutuality. When elements are broken down individually, each one is just as important as the next. If one of these elements are broken or misunderstood, it could mean result in the contractual agreement becoming not valid and end in lawsuit. The overall purpose of the contract is for legal purpose and to keep a order within an agreement.
A contract is an agreement that is legally enforceable. Contracts provide businesses with security. If contractual promises are broken the innocent party are entitled to seek a legal remedy through the court system. In this instance we are the dominant party relying upon standard terms and conditions of this contract. Our contract is in writing signed by both parties, so