All six elements are present in the above case, therefore, the company should be held accountable for paying the tuition. I have learned through this critical analysis paper the importance of understanding the basic concepts of an oral contract, in order to understand the essentials of business law. I will be able to use what I have learned in this course to show the essentials of business law process within a company. I have realized the importance of knowing what is required in an oral contract and now recognize the legal enforcement elements of every contract. This paper has shown me that corporations and individuals can use these elements to legally enforce the oral contracts that are made on a daily basis.
Protecting the company’s financial, communication, and interest assets are illustrated. The method the company will conduct and regulate competition, money laundering, antitrust laws, insider trading, and bribery are outlined. The company’s international trade and transaction policies are also included that involve anti-boycott laws, import and export controls, and economic sanctions. The code of ethics also incorporates a section on compliance and reporting to enforce the employees’ ability to comply by having every employee read and sign the code, explains protection from retaliation for reporting violations, provides resources, and questions and
An agency relationship is where a principal engages an agent to carry out various duties on his or her behalf. This relationship involves delegating decision making powers to the agent by the principle; hence trust is a fundamental requirement for it to succeed. In this scenario, I’m known as the principal and Delilah is known as the agent. Our agreement is that Delilah will negotiate the contract for wood pulp with the third parties. When determining the liability of the contracts made by the agent, the liability is based on whether or not the identity of the principal was made known to the third party at the time the contract was being negotiated.
Week 4 Learning Team D LAW /421 Week 4 Team D In this case Learning Team will analyze the contract that was brought forth between Armstrong (seller) and GCI (buyer). The process of analyzing will include who is responsible for what and what articles of the UCC protect whom. In this case scenario when Armstrong’s manager wrote in that it would be a destination contract and both parties signed it at that moment it changed who was liable for the press if any issues would arise before delivered to the client (GCI) (Melvin, 2011). Under the destination contract it states that the company/organization and/or person selling the goods must deliver to a specific location and in good working conditions if any complications should take place before it is delivered then the seller
Article 2 of the UCC allows a contract to be enforced based on a picture that consists of past commercial conduct, correspondence or verbal exchange between parties and industry standards and norms. Once in court, the verbal agreement might play its role but the possible issue of fraud could be present stating that Chou was misled. 5. Could BTT avoid this contract under the doctrine of mistake? Explain.
* Mr. Jacobsen sued Nike Canada Ltd. AREAS OF LAW Employment Law Governed primarily by the general provisions of contract law, a contract of employment involves one person doing work for another. The work is performed as an independent contractor, an employee, or an agency. The Control Test determines if the employee is in a master-servant relationship, where the employee is controlled by the employer. This test was used in Samuda v. Recipco Corp. case, to determine employment. The contract of employment outlines the obligations of both the employee and employer.
in distinguishing an employee from an independent contractor"); Merchants, 580 F.2d at 972-73 (same); Restatement (Second) of Agency § 220 (1957) (common law agency principles). Although courts must look to the totality of the circumstances, "[t]he essential ingredient of the agency test is the extent of control exercised by the `employer.' It rests primarily upon the amount of supervision that the putative employer has a right to exercise over the individual, particularly regarding the details of the work." SIDA, 512 F.2d at 357(internal quotation marks and citation omitted). Additional factors that are relevant to this determination include "entrepreneurial aspects of the individual's business; risk of loss and opportunity for profit; and the individual's proprietary interest in his business."
The law of apparent agency refers to a commercial law that deals with contracts. This law involves a person called an agent. The agent is typically authorized to act on the behalf of the other. This will then help aid the relationship with a third party. This apparent agency can differ from other agency principles depending on who the legal representation is for, for example someone could have the representation form a guardian.
This plan will also extenuate the legal risks of you the directors and officers of Riordan and the plan will also address the specific laws or aspects of the law that must be adhered to by Riordan as well as an outline of these steps for employees to adhere to these laws. Risk Management Enterprise There are eight components of the enterprise risk management system that includes internal environment, objective setting, event identification, risk assessment, risk response, control activities, information and communication, and monitoring (COSO.org). The first step in ERM process is to ensure that Riordan has a comprehensive understanding of its internal environment. Riordan and its associates must be able to identify their operating strategies and the way that they are viewed by individuals as well as other companies. Riordan should have a clear understanding of the benefits of operating with integrity and following all ethical guidelines associated with running a successful business.
Being on a ship as more or less a personal servant to the ship captain, Pascal, Equiano became very knowledgeable of what to do at sea. He performed duties all over the vessel, from loading and unloading and keeping watch, to sometimes steering and reporting directly to the captain. He came to be known as Oustavas Vassa on this