Question 1 Step 1 The legal issue is whether the element of agreement can be established to form a contract between Jordan and Will. Step 2 Making a contract requires three elements‚ which are agreement‚ intention to be legally bound and consideration (Do and Duperouzel‚ 2014). However‚ the element of agreement will be discussed here. An agreement is a meeting of the minds of both parties in which they comprehend what essential terms for the contract are. It is made of offer and acceptance. Offer
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explain how air brakes in trains work and why they are there. Throughout this report there is information on the function of the Air Brake‚ the history and development of the brake‚ The component materials used in the brake‚ the environmental considerations of the brake‚ its safety features and social implications. The Air Brake was invented in 1869 by a man named George Westinghouse. It was originally designed for trains but Westinghouse then went on to develop the brake for trucks and some cars
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For example‚ if the offeror states that the acceptance must come via fax and no other method is allowed‚ it is the only form that can be accepted. In order for a binding contract to be created‚ there must be consideration in order for it to become legally sufficient. The consideration in contracts is when one party for a specific promise gives something of value from the other party stated in the contract.
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liver transplants. Issue(s): (a) Was Reed’s oral commitment and letter of intent to play hockey at UND conditioned on an obligation by UND to provide health care? (b) Was the release Reed signed before the race was not enforceable due to consideration. Holding(s): (a) Reed presents no evidence that his agreement to play hockey was conditioned on an obligation by UND to provide health care. Pursuant to the Letter of Intent‚ UND agreed to give Reed financial aid in exchange for his agreement
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Factory building is a factor which should receive serious considerations on the part of the management of every industrial enterprise‚ new or old‚ big or small. Once the plant location is decided upon‚ the management’s next important task is to raise a suitable buildings for the plant. A modern factory building is much more than a mere work-shed. It is required to provide protection for men‚ machines‚ materials‚ products or even the company’s secrets. It has to serve as a part of the production
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elements necessary to the formation of a valid‚ contract? • What are the various types of contracts? • What are the requirements of an offer? • How can an offer be accepted? • What are the elements of consideration? CHAPTER 7 Contracts: Nature‚ Classification‚ Agreement and Consideration © 2005 West Legal Studies in Business A Division of Thomson Learning © 2005 West Legal Studies in Business A Division of Thomson Learning Contracts Contracts • Function of Contracts
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of ways‚ cash‚ cash equivalents‚ or assets. 4million-acquisition costs. ASC 805 – 30-25-5 The consideration the acquirer transfers in exchange for the acquire includes any asset or liability resulting from a contingent consideration arrangement. 20million- contingent consideration. ASC 805-30-30-11 The portion of the fair-value based measure of the replacement award that is part of the consideration transferred in echange for the acquire equals the portion of the acquire award that is attributable
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behaviour is an accepted problem‚ associated with decreased audit quality. This study develops and tests a theoretical model that identifies factors contributing to dysfunctional audit behaviour. Budget emphasis‚ leadership behaviour structure and consideration‚ and effectiveness of audit review were examined as antecedents of attitudes toward dysfunctional audit behaviour. A path analysis from a partial least square (PLS) approach was employed based on survey results from 225 Audit Managers in Malaysia
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Service Request SR-kf-013 Dale Parent‚ Katie Miller and Joel Arthur BSA 375 Monday September 2‚ 2013 John Maloney Service Request SR-kf-013 Introduction According to Kudler Fine Foods internet site (2013)‚ “Kudler Fine Foods is a local upscale specialty food store located in the San Diego metropolitan area. We have three locations (La Jolla‚ Del Mar and Encinitas). Each store has approximately 8‚000 square feet of retail space located in a fashionable shopping center. We have the very
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effect to their contract. Definition of contract According to section 2(h) of the Indian contract act‚ 1872. “An agreement enforceable by law is a contract. Section 2(e) defines agreement as ‘’every promise and every set of promises forming consideration for each other. A promise is a proposal when accepted; therefore an agreement consists of a proposal or offer from one party and its acceptance by another. According to SALMOND‚ a contract is “An agreement creating and defining obligations Between
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