Armstrong is obligated to transfer and deliver conforming goods to GCI. Conforming goods requires that the goods must conform exactly to the agreed upon description provided by the buyer to the seller. This action is referred to as tender of delivery and the UCC obligates the seller to have or tender the specific goods requested. By substituting the third part of the press Armstrong has not yet breached the contract but has not provided perfect tender. Armstrong’s failures to meet their obligation gives GCI three options: they may reject the entire shipment of goods, accept the shipment of goods as is, or accept any number of commercial units and reject the rest of the goods, (Melvin 2011, pg.
According to the Latin maxim “nemo dat quod non habet” set out in S21(1) of the Sale of goods Act 1979 the seller cannot pass to a buyer a better title to the goods than he himself possesses. This is an indication that English law generally opts to safeguard the rights of the true owner although there have been attempts to tip the scales in favour of the private purchaser. There are exceptions set out in the SGA, which protect the rights of third parties who have bought the goods from a non-owner without knowledge of the fraud. One of those exceptions is contained in S27(1) of the Hire Purchase Act 1964 which awards a good title to a private purchaser, who buys from a hirer a motor vehicle subject to a hire purchase or conditional sale agreement. According to S27(2) he must do so in good faith, without any notice of the hire purchase agreement.
rejection by entering into a substitute transaction, he is excused from performance obligations B. Determined by Little condition is not completely within the promisor's control C. Sufficient cause An agreement that gives one party an unfettered right to terminate at any time will be interpreted to require “reasonable notice,” thus placing a limitation on that party's freedom sufficient to satisfy the consideration requirement 1. Certain terms (open) buyer is constrained to request amounts that are not unreasonably disproportional there is clearly consideration for the modification and it is enforceable the modern rule, an offer for a unilateral contract becomes an option for the offeree 2.
* Pareto Optimality wasn’t obtained because maximum benefits of most wanted goods and services produced at minimum cost of least wanted resources. * They are the duties you believe you owe to other people based upon your rational thought processes. According to Aristotles universal principle of personal virtue they he had done wrong. (p.89) If Dennis was really proud of what he was doing he would be open, honest, and truthful about the practice, informing everyone he
If there was a contract signed between these two, then Bob could enforce that the original terms of the contract be kept. However, the acceptance of the offer without a signed contract allows for the method of payment to change. Had the price decided to be changed, then that would be a counter offer and therefore a new contract. While this does not become enforceable under U.C.C. Article 2, it is enforceable as a verbal contract in court.
Unit 1 Exploring Business Activity Assignment 3 D1 Evaluate how external factors, over a specified future period, may impact on the business activities, strategy, internal structures, functional activities and stakeholders of John Lewis. A few years later… John Lewis Political The political factor has impacted John Lewis enormously. New laws bring limits on what they can do and what is legal to do. There are a few major laws that have affected John Lewis more than others: Sales of good act 1979, goods must be: • To a satisfying standard • Made to work for the purpose known by the seller • As described This law makes sure that John Lewis produces goods to a satisfying standard and that they actually work for the purpose that the seller knows. All products must be as described making the marketing job harder as they must not be biased.
1. “The Concorde project can be regarded as a technical and engineering triumph but a commercial disaster.” What is the criterion for judging the success of a project? The success of a project is based on schedule, performance, and cost. The project needs to stay on schedule. Performance is how well the project scope is done.
It is normal in commercial practice for goods to be supplied on credit – a manufacturer may need to sell the goods they have produced before being able to pay a supplier of the raw materials. This can create problems for the supplier because if the buyer becomes insolvent before payment and after property in the raw material has passed, they become part of the buyer's general assets and the seller will simply rank alongside other unsecured creditors, which will involve expense in lodging proof of a claim and may yield little or no benefit. As such, to some extent, the seller can guard against this possibility by not passing the property in goods to the buyer. S.17(1) SGA 1979 states that where there is a contract for the sale of specific goods, the property in them is transferred to the buyer when both the parties to the contract intend it to be transferred. If the parties do not intend the property to pass, it will not do so, even if the buyer obtains possession (Tank and Vessels Industries v Devon Cider).
Lockean rights require that people must refrain from acting in certain ways, in particular refrain from interfering with others. Nozick’s theory of economic justice, which is called ‘entitlement theory,’ maintains that people are entitled to their holdings (for example, goods, money and property) as long as they have acquired them fairly, meaning that they have been acquired without violating anybody’s Lockean rights (Shaw, Barry, & Sansbury, 2007 (a)). Nozick’s entitlement theory has three principles, acquisition, transfer, and rectifying injustice in holdings. Acquisition refers to the fact that a person who acquires a holding without violating anyone’s Lockean rights is entitled
For utilitarian school of thought, an individual strives to do the most good, even at the expense of the minority. Utilitarianism and Kantianism find the basis of their differences in the idea that the ends justify the means. Utilitarian beliefs support this idea while Kantian philosophy rejects this. Modern ethics were devised from these two basic ethical beliefs in an attempt to combine the best aspects. Generally, the morally “right” action benefits the majority while affecting the fewest amount in a negative way.