Contract

General

Differences Between a Contract and a Strategic Initiative

There are distinct differences between a contract and a strategic initiative. First, a contract is an agreement that is legally binding between two or more parties, while a strategic initiative in an organizational tool that helps in achievement of organizational goals. Strategic initiatives are seen as means over which an organizational vision is transformed into […]

General

Contract Definition And Components

What is Contract? A contract is basically an intended plan concerning two or more parties and which is enforceable by law as a legally binding agreement. What are the components of a legal contract? The contract is only considered to be valid and legal if it contains the six essential components. One of them is

General

What is social contract theory?

The social contract theory holds that in earliest history man lived in a “state of nature.” No government existed. Each man was only as secure as his own power and mental awareness could make him. By agreeing with one another to make a state by contract, men within a given area joined together, each surrendering

General

Federal Acquisition Review And Contract Provisions for Protection

Evaluate the importance of the standard default clause. As a contracts officer for the IRS, suggest two (2) ways in which you could combine the standard default clause with the FAR’s delay provision for the protection of both parties to the contract. The standard default condition permits the central government to end an agreement for

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Provisions in Labor Union-Employer Contracts

Introduction Contracts are agreements, which are legally enforceable and binding. The parties to specified contracts enter them out of their own accord. The contracts are formed when the attendant offers are accepted by the parties another according to Hanami (1979). The parties ought to have intentions to be bound lawfully by the provisions constituting the

General

Aspects of Contract and Negligence for Business

Introduction Gergen (2013) provides that negligence is the failure of an individual to exercise a reasonable duty of care which any prudent individual would have exercised within a similar case scenario. Therefore, the tort of negligence is put in place to cater for the harm which arises in situations where harm, rather than intentional harm,

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Preparing to Contract

For the last class, you are going to negotiate a contract with another student as your final project. The facts applying to the contract negotiation will be given during class. After the contract terms are negotiated, you will have to write (IN CLASS) a contract and include all of the required material terms.  The requirements

General

Contract Law: Sales and Product Liability

Case study (Contract Law: Sales and Product Liabilities) KELLER v. INLAND METALS All WEATHER CONDITIONNING, INC. Facts: When Brain and Clarice Keller installed an indoor swimming pool in the athletic club they owned, customers began to complain that the air near the pool was hot, humid, and foul-smelling. The Kellers sought help from two contractors. Inland Metal submitted

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