Assignment front sheet Qualification Unit number and title Pearson BTEC Level 5 HND Diploma in Business Unit 5: Aspects of Contract and Negligence for Business) Assessor name Student name Barrister A S M Sayem Uddin Khondoker Date issued Completion date 03 February 2014 ____/_____/ 2014 Assignment title Submitted on Contractual Aspects and Business Negligence: Application in Business Context Learning outcomes Assessment criteria for pass The learner can: LO1 Understand the essential elements of a valid contract in a business context 1.1 explain the importance of the essential elements required for the formation of a valid contract 1.2 discuss the impact of different types of …show more content…
He lives near to you. By an agreement he provides you with a lift to work in return for a contribution towards the petrol. Would this contract be legally enforceable? Justify your answer with legal arguments. 75 words Q2.2: Alban is the business development manager of Green Pharma. Four months ago he bought a ‘Landmaster’ car from Brenda’s Garage Ltd for use in his business activities. He paid £12,500 for the car and was given a written guarantee in the following terms. ‘Brenda’s Garage Ltd guarantees that, for three months from the date of purchase, it will put right free of charge any defects in the vehicle which cannot be discovered on proper examination at the time of purchase. Thereafter all work and materials will be charged to the customer.’ The sales manager recommended to Alban that he should take out the ‘special extended warranty’ under which, for payment of £350, the car would have been guaranteed in respect of all defects for a further two years, but Alban declined. Last week the engine and gearbox seized up. The repairs will cost £2,000. Advise Alban. Would your answer differ if he bought the car only for his personal use? 200 words Q2.3: Explain the effects of the following in the running of a Pharmaceutical company such as Green Pharma: a) breach of conditions, warranty and innominate terms, b) Legality of exemption clauses. Please include relevant examples to
1. Breach of an express warranty - An express warranty is a guarantee from the seller of a product that specifies the extent to which the quality or performance of the product is assured and states the conditions under which the product can be returned, replaced, or repaired. It is often given in the form of a specific, written "Warranty" document. However, a warranty may also arise by operation of law based upon the seller's description of the goods, and perhaps their source and quality, and any material deviation from that specification would violate the guarantee. For example, an advertisement describing a product is often full of express warranties; the product must substantially conform to what is advertised. Many advertisers insert disclaimers for this purpose (e.g., "actual color/mileage/results may vary", or "not shown actual size"). Commonly, written warranties will assure the buyer that an article is of good quality and against defects in "materials and workmanship." A warranty may also apply to services that
replaced on the car by just the average person rather than having to take it to a mechanic and
Those target markets who rely on Johnson & Johnson health and medical needs are mostly patients, doctors, nurses and civilians. Therefore, the company need to sustain their products and services over all these years to ensure that lower income people and underprivileged patients are able to access on their medicines. This however requires the company to balance patient’s access and competitive dynamics in line with their need as the company need to have enough resources to keep on being innovating, creating new and better medicines and at the same time making sure there will be a fair return to the shareholder as well. Johnson & Johnson also work closely with the governments, physicians, non-government organizations and the international donors all around the world to provide its products within an affordable prices to its
2. Patent related and Generic Competition: The developed countries like US and Europe have strong patent protection laws which gives a lot of benefits for the pharmaceutical companies. But, the patent
In the case in the text where someone purchased a used safe at an auction for $50, but
In this case study, we are assuming the contract entered into between Raymond Smith, the buyer, and the auto dealer, the seller, is a legal
The company is so large that no one drug can lift it from its current sales doldrums. In addition, the company was once highly attractive to investors, but its recent stock price fell to 1997 lows. This may put pressure on the company to attempt acquisitions at a time when the company is ill-equipped to integrate a new company into its organization, and it is engaged in a cost-cutting program at a time when it may need to invest even more in research and development (McTigue Pierce, 2005).
The second rests in Pfizer’s expiring patents on several popular drugs that invite their competitors to enter the market with similarly performing pharmaceuticals. Once these patents expire, Pfizer will either have to extend the patent through reformulating the performance of the drug for another purpose called “ever greening”, or abandon the line in the pursuit of another, more profitable product. Regardless of what they do in terms of their own product offerings, generic imitations of their products will enter the market, diluting the profitability of the drug and forcing reliance on the sales of other existing products to make up the loss.
In regards to other legal issues that are to be addressed I will break them down by a case by case basis.
Our preferred settlement would ideally be to purchase the Jetta since it seems it would fit into what we need for our job at this time. We are willing to trade off on possibly a couple of hundred dollars but we must see what the car needs, it could possiblly need new tires, brakes or other things where we could ask for some leeway to try to save ourselves some money.
i)The most important information that influenced Green & Co’s decision to enter the US market
ML had developed a policy of selling manual machines and renting automatic machines. Manual machines did not cost much, did not require service, and could be modified to attach different fasteners inexpensively. Automatic machines were rented on an annual basis because they would have been more expensive to sell and it provided annual income to ML. However, about 700 of the rented machines were returned each year. During the time that machines were in inventory, ML would modify the machines to attach different fasteners. This was expensive with an average cost per modification of $2000. If all 700 machines were modified during a given year this would have cost $1.4 million per year. It was also industry practice to provide preventative maintenance and
This is a problem. It is not the distributors issuing the warranty. It is Handy Andy’s warranty given to the customers as a testament to stand behind their product. This is not a third-party warrant that is sold at say a used car lot. Again, this reflects poorly on Handy Andy and how they value their customers.
This siutation was a win-lose strategy that I’ve encounter. I had to scarafice more time and expend more money for gas that I didn’t planned for. I have yet to inspect or pay for this vehicle and have already faced two type of negotiation strategy.