This website uses cookies to ensure you have the best experience. Learn more

Business Essay

1038 words - 5 pages

 

Title of the paper
Name
Lecturer

Introduction
Before entering into any agreement one needs to answer the question, “What are you receiving for being a party to this contract?". This principle is known as consideration. For a contract to be deemed legally binding, it must include the benefit that each party expects from the deal.
Consideration only offers a valid basis for an agreement if each p[arty agrees to make changes in their stands or “position”. This comes as a result of;
a) A promise to do something you are not legally ...view middle of the document...

* Equity – the injunction is a type of equity remedy as a specific performance in which someone who enters into contract is forced to execute whatever promises has been reneged upon.

As common law, damages are into actual damages and punitive damages. Actual damages are further divided into special damages which are economic losses such as loss of earning and property damage and non-economic damages like pain and suffering and emotional distress.

Question 2: If you did not agree to their terms, and they walked out, what would you have been able to do if the orders weren’t fulfilled and the business lost $10,000.00?
It is important to remember only the parties to the contract may enforce the terms of the agreement. The owner of the company could reject the agreement on the basis of not being privy of the contract between the manager and the employees.
If the two employees (Sam and Dan) incited 4 other employees and didn’t report to work on the busy day the company would have lost ($ 10,000) resulting into economic losses (special damages) sue able in the court of law. The employer had all the right to take them to court, a court generally awards the sum that would restore the injured party to the economic position they expected from performance of the promise or promises. Expectation measure or benefit-of-the-bargain measure of the damages as a result of loss of money from the function due to non-delivery of flower were also likely to be spoilt being perishable goods making the company to lose $10000.

The employer would have suffered hedonic damages, compensate the claim for the non-monetary aspects of the specific harm suffered. James would have suffered emotional pain as a result of economic and loss of company reputation.

James would have sued the six employees together with the manager for having contributed to the loss of $10000 (ten thousand dollars) and hence demand compensation.

Furthermore, the name of the company would have been tarnished due to the workers negligence of duties whereby the four orders of weddings would not be delivered due to their responsibilities then held responsible...

Other assignments on Business

Business Essay

256 words - 2 pages British Airways Financial Analysis Introduction In this assignment I shall be composing a report which details my confidential analysis of a company based in the United Kingdom; in this model the airline business British Airways. The main aims of this report are to assess whether BA has contemporarily behaved well enough to deserve financial disbursement and to describe in detail why or why not I would admonish it for akin. Within

Business Essay

2793 words - 12 pages , pointed out by Li (2010). However, success of e-book publishing business mostly depends on establishing a successful business model. According to the finding of Vasileiou et al. (2009), establishing e-books related business model is now very complex and there are many incompetents between the producers and the products. Though there are significant advancements have achieved in e-book technology, there are still various incompetents exist in the

Business

296 words - 2 pages The role of business in an economy is involved in any type of activity that provides goods, services, or both to consumers in an attempt to earn a profit. Business drives up the standard of living of quality and quantity of goods and services available to a population and contributing to the higher quality of life in which is overall sense of well-being experienced by either an individual or a group. Business also helps raise the standard of

Business - 285 words

285 words - 2 pages Every business consists of various organizations which are reliant on information systems- without information systems there would be no business! Ensuring that the correct information is fed through to the relevant departments is essential for the success of any business. Within each department there will be requirements for different types of information which will be linked throughout the organization to maintain competitiveness and

Business - 4315 words

4315 words - 18 pages Business Review COMPANY OVERVIEW By engineering out the complexity that stifles business innovation, Fusion Tomo is engineering in speed, reliability, security, and manageability. The result is best-in-class products throughout an integrated stack of hardware and software, with every layer designed and engineered to work together according to open industry standards. Fusion Tomo's complete, open, and integrated solutions offer extreme

Business - 7113 words

7113 words - 29 pages Table of Contents Market 1 Product 1 Price 1 Place 1 Promotion 1 ing 2 Marketing 3 Contents 4 History 4 Earlier approaches 4 Contemporary approaches 5 Customer orientation 6 Organizational orientation 8 Marketing research 8 Marketing environment 9 Geographic segmentation involves a business dividing its market on the basis of geography. There are several ways that a market can be geographically segmented. You can divide your market by

Business - 717 words

717 words - 3 pages approach is where one tries to identify ones best way to manage an organization. The contingency perspective approach, on the other hand, say that because each business is different the appropriate management approach depends on the unique elements in that situation. The contingency perspective is useful in the practice of management today because every situation is different and one situation needs different management that another. There is no one

Business - 7291 words

7291 words - 30 pages in the motor industry………………………………………………………………………………………10 2.1 Apply the elements of contract in both cases business scenarios………………………..12 2.2 & 2.3 Analyze the law of terms in the above two different contract. Evaluate the effect of different terms in the two contracts………………………………………………………….14 Conclusion…………………………………………………………………………………....19 Reference……………………………………………………………………………………..20 Introduction: - The law plays an important role

Business - 621 words

621 words - 3 pages P2 identify how government policies impact on a selected business. Government policy The government produces a set of policies that are used to develop and influence the UK economy. These policies are: Economic Policy This policy is mainly focused to deal with economic growth, unemployment and inflation. Cadbury may have an effect through inflation as inflation means a general sustained increase in price. This could affect them most out

Business - 317 words

317 words - 2 pages to better meet the corporate and business goals.  It’s no longer just the economic issues that drive the department, but also the behavioral ones .In general, HR is becoming more a part of the team than it once was. Rather than being the folks who sit in their closed offices and interview applicants then allow department managers and executives to handle day-to-day operations, HR is now getting involved in decision making, and making a

Business - 818 words

818 words - 4 pages motivate them to work hard if they are able to participate in the upper part of the business. Managers can produce well being in the workforce outside of everything else that goes on. There is so many successful things that a manager can offer and provide. Managers should also make sure that fairness and equality is provided among the employees. Managers should also provide an environment that is enjoyable and productive. They should also create a

Similar Documents

Business Essay 595 Words

595 words - 3 pages Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business Business

Business Essay 1362 Words

1362 words - 6 pages United States International University – Africa Individual Term Paper Name: Tushar Prakash Nainani ID No.: 640633 Course: BUS 1010 – Introduction to Business Organizations Schedule: Mondays & Wednesdays 11:00 – 12:40 Professor: P. Gachago Semester: Fall 2013 Individual Term Paper Now that you have attended several business lectures at USIU, you decide to start a kiosk business in your estate, selling potatoes

Business Essay 1180 Words

1180 words - 5 pages Business History Ýn The United States At The End Of The Twentieth Century The History of Business history Business history in the united states at the end of the twentieth century and the beginning of the twenty-first is simultaneously thriving and strungling with itsidentity.There are clear signs of vigor, including a rising membership in the major professional organization in the field, BHC (Business History Conference). The organization

Business Essay 2440 Words

2440 words - 10 pages Table of Contents Executive Summary 3 Introduction 3 Benefits of Hamel & Prahalad’s concept of Core Competence 4 Disadvantages of core competency 6 The concept of Icarus Paradox and its comparison with core competencies 7 Conclusions 8 References 9 Executive Summary This report takes an account of Core competencies that were introduced by C. K. Prahalad and Gary Hamel in 1990. Evaluating this business concept, its