An agreement requires a meeting of the minds of both parties. The two sub-elements, offer and acceptance must present to form an agreement. Offer is a statement that indicates a willingness to contract. There are two parties involve in an offer: Offeror and offeree. The offeror is the person who makes offer and the offeree is the person who receives the offer from the offeror.
For example, the lender that provides the secure card can still review your credit history. The application documents will indicate if the lenders can do this as part of the application process. If you are declined, the law requires that you be given a reason why your application wasn’t approved. It will also tell you whether a credit report was used and how to get a copy of it. Ask Mr. Credit Card explains more on how you can get denied in the article Is Everyone Eligible?
Learning Team Reflection Week 4 Esther Calice Law 531 - Business Law Robert A. Zigmond, Facilitator University of Phoenix October 29, 2012 Contract Administration plan involves developing a tool for monitoring a company’s performance and compliance to the contract developed between both parties. This paper will address how development of a contract administration plan affects a company’s business, as well as does the company I work for subscribes to such an activity. A contract is a binding agreement between two parties or more (Luther, 2012). The parties can be government and business entities or individuals (Luther, 2012). During contract negotiations, one party offers to complete specific actions in consideration for payments from the other party or parties (Luther, 2012).
During the offer-acceptance process counter offers may be allowed and an agreement can be established based on the original terms outlined. The offer-acceptance process though must follow the rules of communication test of whether a binding agreement was made. Those rules are as follows: “1. The acceptance must be communicated. Prior to acceptance, an offer may be withdrawn.
* Given name | * PETER | * Surname | * CHAPMAN | * Student number | * 17428327 | * Email | * firstname.lastname@example.org | * Unit name | * Business Law 100 | * Unit code | * 11011 | * Assignment title | * Assignment two- Case study | * Date submitted | * 19/10/2013 | * Student’s comment to tutor | * | * | * * | * * Marker’s comments | * | * Recorded mark | * | * Marker | * | * Comments | * | Business Law 100 ASSIGNMENT TWO: Case Study The Four Step Process Peter Chapman Student Number: 17428327 Due Date: 21/10/2013 Lecturer: Christina Do Word Count: 2264 Assignment 2: The Four Step Process Question One The legal issue arising from the scenario is whether there is an element of agreement between the two parties and if there is a reason for Oscar and Kate to legally enforce the contract. For a legally enforceable contract, the element of agreement must be satisfied. This consists of two things, offer and acceptance. Each has rules that must be satisfied to be legally enforceable. For an offer to be satisfied, certain rules must apply.
This paper is to examine these two negotiation strategies through analysis of two articles, which involve actual negotiations between parties using the two distinct negotiation strategies. In addition a description of the processes as well as comparing and contrasting the two strategies, and how the strategies apply in a work environment. Through proper research of each parties goals, intentions, and strategies, negotiators can detail processes that identify the needs set by parties or constituents, and implement procedures that align with effective resolution. Description of Articles The first article entitled, “Purchasing Agents’ Use of Negotiation Strategies” (1991) details the negotiation processes, styles, and strategies used by purchase agents. As stated by the articles authors, Perdue and Summers (1991), “The negotiating stance adopted by industrial buyers is characterized by their reliance on three basic negotiation strategies: problem-solving, manipulating perceptions about competition, and tough tactics”
Collective Bargaining is a process in which the representatives of the employer and employees meet and attempt to negotiate a contract governing the employer- employee union relationship (Fisher, Schoenfeldt & Shaw, 2004). The collective bargaining process has always been known for its outcome, as it always ends up determining the relationship between the union and the employer in regard to wages, benefits, hours and working conditions, etc. The process of collective bargaining involves three steps: * Preparation for Negotiation: It involves preparation to negotiate a contract. Both the parties should interpret the contract completely to identify the loopholes. Once the parties are ready with their evidence, they should construct a strong and logical argument to be presented for negotiation.
His letter was precise and sufficiently definite he also indicated in this letter his specific price term. His statement “let me know as quickly as possible” would appear as though he is willing to create contractual relations with Rose. For a contract to be formed there must be an acceptance of the offer, this acceptance proves that each party involved in the contract agrees to the terms of the contract. It can be therefore argued that when Rose presented her terms when accepting Charlie’s offer, this counter offer would not be valid for acceptance. To be an offer (whether an original offer or a counter offer), a statement must contain a promise or promises as was indicated in Harvey v Facey So the question
Negotiation process in business and contracting 1. Define the nature of the negotiation process and the appropriate uses of negotiation in the business and contracting processes. The definition of negotiation is to communicate or confer with another so as to derive a settlement of some matter. Engaging another to arrive through discussion at some kind of agreement or compromise about something. Negotiation can be also be defined as an exchange of ideas for the purpose of reaching an agreement.
In this question, there are many distinguishing between offer and invitation to treat. The first is from meanings. Offer is 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. Invitation to treat different with offer it means an invitation to make an offer. An invitation to treat is not an offer, but an indication of a person's willingness to negotiate a contract.