The legal framework - Free Essay Example

Sample details Pages: 4 Words: 1266 Downloads: 9 Date added: 2017/06/26 Category Economics Essay Did you like this example? Introduction An offer An invitation to treat A counter offer According to Un Convention on contracts for the International Sale of Goods applies, explanation for the rights and liabilities of the parties that involved Contract is an agreement of a two parties especially once it is written its enforced law. An agreement refers to a meeting of the minds. There is no magic language necessary to inform an agreement. Don’t waste time! Our writers will create an original "The legal framework" essay for you Create order However, there is an offer must be made by a person to another and so acceptance. In other words, the sides (parties) of a contract must agree given basic terms in order to avoid any misunderstandings which come up after making contract. There are few factors for the existence of a contract. One of the basics is an offer and an acceptance of that offer. https://www.rothlawgroup.com An offer An offer can basically be illustrated as a clear statement of the terms on which a party (the offeror) is prepared to make a business with other party (the offeree). In other words making (by offeror) an offer is promising to do or not to do something which is depending on acceptance by other person (by offeree). An offer is perfomered by an offeror to an offeree. In contract, offer can be bilateral or unilateral; bilateral offer means two sides promise to each other, therefore contract made by agreement with respect of two sides (offeror and offeree) in other words, type of contract which requires agreement and performance from both sides (parties) to the contract. One party promises to do A and the other party promises to do B. Unsimilarly, unilateral contract occurs when only one side (party) makes an offer to another party and the other party might accept by action instead of by offering something back. For example, (bilateral offer situation) if somebody offers pound;20 to a person who will bring him a hotdog, a unilateral contract is formed when a person performs the condition and supplies him with a hotdog. https://uk.answers.yahoo.com To ensure that made offer is legal, it must include all 3 points shown below: Stated terms must be shown clearly Intention to make a business Communication of that intention Once an offer is made by the party, it might: Lapse; Rejected; A counter-offer may be made, which automatically rejects the offer preceding it. These events are important in the context of contract disputes as it is the order of events that determines the extent of any contractual relationship between the parties in the circumstances. An invitation to treat An invitation to treat is an action calling or inviting other parties to make an offer to form a contract. Its sometimes might be a bit difficult to determine that invitation to treat may appear as an offer itself. Invitation to treat can include advertisements, which allows sellers to refuse to sell products at prices mistakenly marked. In some specific ways, advertisements can also be considered offers. Sometimes auctions can be invitations to treat as it gives seller choice of choosing the offer and accept the bid that is offered. However, if the seller notices that the price has not reached up to a price that was expected, auction accepts the offer with the highest price. An invitation to treat is not exactly an offer but a suggestion of a consumers willingness to make a contract. In Harvey v Facey case, suggestion by the landlord of property that he or she might be curious about selling her or his property at a certain price, for example, has been focused as an invitation to t reat. The courts have tended to take a consistent approach to the identification of invitations to treat, as compared with offer and acceptance, in common transactions. The display of goods for sale, whether in a shop window or on the shelves of a self-service store, is ordinarily treated as an invitation to treat and not an offer. The holding of a public auction will also usually be regarded as an invitation to treat. A counter-offer If an offer is rejected is ceases to exist. If offerees then change their minds and try to accept, they will in contractual terms be making a new offer. The same result is achieved by a counter offer. This is an attempt to vary the terms of the existing offer to get more favourable terms, like a price reduction. Hyde vs. Wrench (1840) The defendant offered to sell his farm for pound;50000. The claimant at first said that he would pay only pound;45000, but after a few days said he would pay the full price. He heard nothing from the defendant. It was held that there was no contract between the parties: the defendant had not accepted the offer from the claimant, who had destroyed the defendants original offer by his counter offer of a reduced price. The claimants subsequent statement that he would pay the asking price could not revive the original offer. It was a new offer which the defendant never accepted. If the offeree, while not accepting an offer, asks for further inform ation, or tests out the ground to see if further negotiation is possible, this is not treated as a counter offer; it, thus, does not destroy the offer. Law for business students Alix Adams; fourth edition; p53, 2006 An offer made in response to a previous offer by the other party during negotiations for a final contract. Making a counter offer automatically rejects the prior offer, and requires an acceptance under the terms of the counter offer or there is no contract. According to United Nations Convention on contracts for the International Sale of Goods there are factors about contracting between seller and buyer at Part 2 articles between articles 14 and 24 which are shown below: An offer to contract must be addressed to a person, be sufficiently definite that is, describe the goods, quantity and price and indicate an intention for the offeror to be bound on acceptance.Note that the CISG does not appear to recognise common law unilateral contracts but, subject to clea r indication by the offeror, treats any proposal not addressed to a specific person as only an invitation to make an offer.Further, where there is no explicit price or procedure to implicitly determine price then the parties are assumed to have agreed upon a price based upon that generally charged at the time of the conclusion of the contract for such goods sold under comparable circumstances. Generally, an offer may be revoked provided the withdrawal reaches the offeree before or at the same time as the offer or before the offeree has sent an acceptance. Some offers may not be revoked, for example when the offeree reasonably relied upon the offer as being irrevocable.The CISG requires a positive act to indicate acceptance; silence or inactivity are not an acceptance. The CISG attempts to resolve the common situation where an offerees reply to an offer accepts the original offer but attempts to change the conditions. The CISG says that any change to the original conditions is a rejection of the offer it is a counter-offer unless the modified terms do not materially alter the terms of the offer. Changes to price, payment, quality, quantity, delivery, liability of the parties and arbitration conditions may all materially alter the terms of the offer. References: https://www.rothlawgroup.com https://uk.answers.yahoo.com Law for business students Alix Adams; fourth edition; p46, 2006 https://www.4lawschool.com/ Law for business students Alix Adams; fourth edition; p53, 2006

August Wilson’s real name is Fredrick August Kittel, and...

August Wilson’s real name is Fredrick August Kittel, and he was born on April 27, 1945. His father was a white German immigrant baker. Wilson was the fourth of six children that lived with their mother in Pittsburgh. His father hardly ever visited them, their mother raised them alone. Their mother was a cleaning woman, but her work did not make enough to bring the children out of poverty. When he was in high school he dropped out because of a racist problem that happened there. So far he has had three marriages. His plays usually show the exclusion of African Americans from history (Shannon 16). He has many ways of writing stories, but his themes explore and communicate the black experience in a way which seems particular to blacks but†¦show more content†¦At Pittsburgh’s Halfway Art Gallery he found his audience for poetry, and got to meet some of Pittsburgh’s black literati. In 1981, Wilson submitted Ma Rainey’s Black Bottom, and it was accepted in the O’Neill Center. It did however, undergo many changes in the summer of 1982, it went on to play at Yale and became the first Broadway play in 1984. His next play that he wrote was Fences. Now Fences is a interesting play to read, because reading the background information I feel as if he was writing this book from his point of view. His dad was not always there, his dad cheated on his mom, his mom raised the kids, and his dad was a worker and then came home and never messed with the kids or played with them. Not so much as he treated the kids like slaves, but in a way you could say he did. Reading the play and then writing this paper has been a wonderful experience. Reading the play gives us some back ground information about what the â€Å"1980s† were about. The racism, the abandonment, the shame, the cheating, we see it all in this play. Wilson did a good job at showing us what it was like to be a boy in this time when you wanted to play baseball but could not because you were black, or wanted to go somewhere and you could not because you were black. Some people would think that only â€Å"blacks† would like to read something like this because they would â€Å"understand† it, but that is not true. Reading Wilson’s

Common Sentence Error Free Essays

Common Sentence-level Errors The Run-On, The Comma Splice, The Fragment RUN-ON A run-on or fused sentence is two independent clauses that are not separated by any punctuation. Run-on:  Ã‚   Wearing a seatbelt is not just a good idea it’s the law. Revision:   Wearing a seatbelt is not just a good idea; it’s the law. We will write a custom essay sample on Common Sentence Error or any similar topic only for you Order Now Even if one or both of the fused sentences contain internal punctuation, the sentence is still a run-on. COMMA SPLICE A comma splice is the unjustifiable use of only a comma to combine two separate sentences. One should use either a period, a semicolon, or a coordinating conjunction and a comma to separate the two statements. ) Comma splice:   Wearing a seatbelt is not just a good idea, it’s the law. Revision:  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Wearing a seatbelt is not just a good idea; it’s the law. =========================================== Both run-on sentences and comma splices may be corrected in any of the following ways: Run-on:  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Tevon won the award he had the highest score. Comma splice:   Tevon won the award, he had the highest score. 1. Separate the sentences with a period. Tevon won the award. He had the highest score. 2. Separate the sentences with a comma and a coordinating conjunction (for, and, nor, but, or, yet, and so). o Tevon won the award, for he had the highest score. 3. Separate the sentences with a semicolon. o Tevon won the award; he had the highest score. If a conjunctive adverb like therefore, however, then, or consequently separates the two sentences, use a semicolon also. o I was unwilling to testify; however, I did it anyway. 4. Separate the sentences with a subordinating conjunction such as although, because, since, or if. Tevon won the award because he had the highest score. Page 2 SENTENCE FRAGMENT A fragment is an incomplete construction which may or may not have a subject and a verb. Specifically, a fragment is a group of words pretending to be a sentence. That group of words may be — A phrase — A dependent Clause ——————————————————————— Fragment:  Ã‚   Traffic was stalled for ten miles on the freeway. Because repairs were being made on potholes. Revision:  Ã‚  Ã‚  Ã‚   Traffic was stalled for ten miles on the freeway because repairs were being made on potholes. ———————————————————————– Fragment:  Ã‚   It was an excellent movie; one that was nominated for an Oscar. Fragment:  Ã‚   It was an excellent movie. One that was nominated for an Oscar. Revision:  Ã‚  Ã‚  Ã‚   It was an excellent movie, one that was nominated for an Oscar. ————————————————————————- Fragment:  Ã‚   Prospectors invaded the newly discovered territory. Some in wagons, some on horseback, and a few in heavily laden canoes. Fragment:  Ã‚   Prospectors invaded the newly discovered territory; some in wagons, some on horseback, and a few in heavily laden canoes. Revision:  Ã‚  Ã‚  Ã‚   Prospectors invaded the newly discovered territory, some in wagons, some on horseback, and a few in heavily laden canoes. NOTE: The above explanations coincide very well with Bedford’s explanations in Chapters 19 and 20. Please use this handout along with the above chapters in your Bedford Handbook as guides in studying for the quizzes and in eliminating fragments, run-ons, and comma splices from your sentences. How to cite Common Sentence Error, Papers

Corporate Reporting

Question: Corporate environmental disclosure has garnered attention globally in recent years across multiple stakeholders groups including businesses, investors, watch groups and legislative branches of governments etc. for its far-reaching social and economic implications. It has become a major challenge for business organizations to address and deal with environmental issues. (Farooque Ahulu, 2015). Critically discuss the above statement by outlining some advantages for Corporate Environmental Disclosure (CED) and challenges for reporting entities with regards to CED. Do Australian companies provide higher levels of environmental performance disclosure within their annual reports? Answer: Corporations have a huge impact on the environment at all scale from international to local forums. It is necessary to have information on corporate sustainability policies required to comply with international and national standards of environmental protection. However, in many cases the corporate players have the ability to continue to act in secret (Higson, 2003). Countries need good data tools to address environmental issues and communicate the risk posed by corporations. Therefore corporate take up the following mantle to implement the rules: Develop public outreach programs to communicate information about the quality of air and water, besides the waste present in the environment. These programs would be developed by private corporations and publicly owned companies that recognize their responsibility for preventing pollution and emissions, plus about corporate ethics itself Provide environmental information in a re-usable and understandable format, which really explain to the people what the risks they are exposed. Data on emissions and waste from the corporate sector should be sent to the government, enabling the monitoring of the environment. This information should be published in the public interest, and never have confidential information of commercial type, since it is directly related to the environment and public health. Environmental issues are such as emission of gases by the green houses and the pollution of the environment (DiPiazza and Eccles, 2002).Disclosure of the achievements of companies: Be it companies for packaging more sustainable can be a strategic tool if achieved adequately communicate the environmental improvements made in packaging so that consumers and other agents of interest to assess the efforts made in the placing on the market of products packaged environmentally friendly. Governments support to member companies in the disclosure to the various agents of interest, achievements in environmental improvement of their packaging. It is intended to provide information to other companies, consumers and the different public administrations on the commitment of companies to the environment in improving the environmental performance of their packaging. Here are some of the actions: Are your packaging good ambassadors of your environmental commitment? where you will find suggestions and recommendations for responsibly communicate the environmental improvements that companies make on packaging. Participation in conferences and other forums of interest in inviting companies to tell their own experiences and achievements in eco-design. Publications prevention. Success stories eco-design of packaging, packaging practices guides, environmental improvements communication, information on the main results obtained by the GIS in prevention and recycling of containers, packaging and consumer (Crowther, 2012) .. Active presence on the network such as plant recycle and blue and yellow co... In the web environment you can find various information regarding the integrated management system and its operation, as well as in relation to the prevention of packaging waste, eco-design Australia companies Development and implementation of the international development trend, the various limitations of corporate behavior, environmental quality specification of products with international standards, which will certainly affect enterprises to participate in international competition. Environmental issues have gone beyond the borders, becoming a global problem. Australia enterprises to enter the market, the product must participate in international competition; it is bound to be pressures related to the environment. Thus, they appear less necessary and urgent study and application of environmental management. As interpreted by the Environmental Protection Agency US environmental accounting is divided into macro and micro levels: the macro level related to the accounts and reports related to financial accounting firms micro and presentation national reports. In the field of accounting to micro environmental level, the first to enter professional practice is the disclosure of environmental information companies, also known as environmental reports; the company produces a variety of activities in the environmental impact disclosure of information to the external community (Wu, 2013). Environmental information disclosure was first reported as a social responsibility as an integral part. Different organizations face different specific environments. However, for most organizations, the factors that create uncertainty are - Providers: When you think about providers, usually come to mind the firms providing materials and equipment. However, it also includes those who provide labor and financial inputs. Managers try to ensure a steady flow of supplies needed at the lowest possible price. Since these inputs involve uncertainties, managers often make great efforts to ensure that all of them will receive a reliable and steady flow. - Customers: the person who absorbs the production of organizations that exist to satisfy the needs (The Social Responsibility Research Network, 2013). Of course, some organizations face a substantially higher degree of uncertainty than others, in relation to consumers does do (egg, can change the taste) - Competitors: all organizations, up monopolies, have one or more competitors. Managers cannot afford to ignore the competition, but must keep an eye to be prepared to answer it. - Government: federal, provincial, and local government influence you as organizations cannot do. There are laws that have significant implications. Organizations spend a lot of time and money to comply with government regulations, but the effects of these go beyond time and money. Actually, they also reduce the administrative discussion by limiting the options available to managers. - Lobbying: managers must recognize the special interest groups that defend and try to influence the actions of organizations. As the y evolve social and political movements, so does the power of lobbyists. The general atmosphere: They must be considered: - Economic conditions: interest rates, inflation rates, changes in disposable income, rates the stock market and the stage in the overall business cycle is are some economic factors in the general environment that can affect administrative practices of an organization. - Political Conditions: include the overall stability of the countries where the organization and specific attitudes that have to the business sector operates government officials. - Social conditions: managers must adapt their management to the changing expectations of society within which operating practices. When changing the values, customs and tastes, managers have to change too. This applies to their offers as internal policies. - Global Conditions: globalization is one of the main factors affecting managers and organizations. - Technological Conditions: We live in an age of technologic al changes. For managers of all organizations, technological advances mean the ability to make better decisions more expeditiously form (The Social Responsibility Research Network, 2011). Valuation risk: The risk assessment is the identification and analysis of relevant risks to achieving the Control activities Control activities are the policies and procedures that help ensure that carried out the instructions of the management of the company. They help ensure that necessary measures are taken to control the risks associated with achieving the objectives of the company. There are control activities throughout the organization, at all levels and in all functions. Information and communication: should identify, collect, and communicate relevant information in the form and terms that allow each employee to fulfill their responsibilities. Computer systems produce reports containing operational, financial and compliance data standards allowing direct and control the business informati on properly. Monitoring: It must continuously monitor internal controls to ensure that the process works as planned. This is very important because as changing internal and external factors, suitable controls that were once effective and may no longer be appropriate and to give reasonable assurance management offered before (Suder, 2007).The absence or weakness of any of these components can cause the risks identified in the external environment and industry, have a high probability of occurrence with a significant impact on the financial statements. In addition, the company may have an inappropriate organizational structure, lower skills of its employees, the absence of advantages of its processes, no effective internal communication, and poor culture of its employees that may generate risks of fraud. References Barnhill, T. and Schumacher, L. (2011). Modeling correlated systemic liquidity and solvency risks in a financial environment with incomplete information. [Washington, D.C.]: International Monetary Fund. Corporate reporting. (2009). Institute of Chartered Accountants in England and Wales. Crowther, D. (2012). A social critique of corporate reporting. Farnham, Surrey: Gower Pub. DiPiazza, S. and Eccles, R. (2002). Building public trust. New York: John Wiley Sons. GEO-5 for business. (2013). Nairobi: UNEP. Goerke, L. (2014). Income tax buyouts and income tax evasion. International Tax and Public Finance, 22(1), pp.120-143.