FORMATION OF A CONTRACT OFFER AND ACCEPTANCE For a contract to be valid‚ firstly there must be an AGREEMENT between the parties i.e. one party must make an OFFER which is UNCONDITIONALLY ACCEPTED by the other. OFFER What is an offer ? An offer is a promise that the person making the offer (known as the offeror) is prepared to be legally bound upon specified terms – he is making a statement of the terms on which he is prepared to be legally bound‚ for example A
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Contract: Offer and Acceptance LAW 531 December 12‚ 2012 Offer and Acceptance Creating the contract is an extremely difficult process. A contract must have an offer and acceptance determine whether an agreement exists between two parties. An offer is a suggestion made by one person to another of his or her readiness to enter into an agreement under certain terms and conditions without further negotiations. The contract is accepted when the offer has been formally communicated to the offeror
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Introduction Offer and Acceptance Introduction: For a contract to be legally binding there needs to be 4 ingredients: 1. Offer 2. Acceptance 3. Intention to create legal relations 4. Consideration Building on this‚ in order to prove that a contract is legally binding 5 things need to be proven: 1. That an agreement has been reached. This is usually done by demonstrating that one of the parties has made an offer which the other accepted. 2. The agreement has been
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09 November 2012 Mr. Sumit Sachan Uttar Pradesh Dear Sumit‚ We are pleased to offer you the position of ‘Guest Service Associate – Food and Beverage’ with Courtyard by Marriott‚ Bhopal as agents of Deligent Hotels Corporation Pvt. Ltd. with effect from 03 December 2012. However‚ this offer is subject to you being declared medically fit by a reputed medical practitioner and satisfactory references from your referees. Your compensation will be Rupees 11‚075/- per month [Total Remuneration]. The breakdown
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Environment of Business These are powers which are deeply related with company and company can control these type of environment by improving its capacity and efficiency. 1. Suppliers Suppliers are the persons who supply raw material to company. 2. Customers Customers are the persons who buy goods from company. 3. Market Intermediaries Market intermediaries are those person who helps company to sell its products. 4. Financial Intermediaries Financial intermediaries are those
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The Sale-and-run Type Compnay Well‚We will bet you dollars to donuts‚there are so many crusher provider which are sale-and-run type company that make you a long-tailed cat in a room full of rocking chairs to choice the best equimpments for quarry or mining.Wait‚what is the sale-and-run type company?Typically‚the sale-and-run type company is that before they sale the crushing equimpents‚they will service the customers as God so that they can contract with the clients.But‚after they sale out their
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are 4 types of segmentation‚ which are mass marketing‚ niche marketing‚ selective marketing‚ and individual marketing. Mass marketing is refers to the maximum exposure of product advertising to consumers. It also means that advertising the idea and market products to specific target markets. Thus‚ the target market which is a segment of consumers that identified through research to buy some particular product. For example‚ bread‚ television‚ radio‚ and household cleaners are the products that advertising
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Product Life Cycle The diagram above shows that the respective sales (in red) and profits (in blue) across five stages are illustrated. The typical Products Life Cycle consists of five main aspects : Product Development Stage Introduction Stage Growth Stage Maturity Stage Decline Stage Product Development Stage Product Development is a very expensive stage. Panasonic Company will carry out Research and Development (R & D) at this stage. Panasonic Company may decide to introduce
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usually takes the form of offer and acceptance. An offer is defined by Treitel as "an expression of willingness to contract on certain terms‚ made with the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed"‚ the "offeree". In addition‚ an offer is a statement of the terms on which the offeror is willing to be bound. When an offer has been made‚ it doesn’t means a contract has formed until the offeree accepts the offer. The "expression" referred
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Business Law: Offer and Acceptance. For a simple contract to be valid one party must make an offer and the other party accept it. An offer is made where a person (the offerer) unequivocally expresses to another (the offeree) his willingness to make a binding agreement on the terms specified by him if they are accepted by the offeree’ (Card 2002). This offer could be made to a specific person‚ in which case it cannot be accepted by anyone other than that individual. On the other hand it could
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