Late one evening Charles and Henry are discussing the purchase and sale of $2,500 of coffeeshop equipment after entrepreneurship class. They are in the classroom when Henry writestheir agreement on the classroom whiteboard and both Henry and Charles sign it on thewhiteboard. Discuss if this whiteboard document is sufficient to provide a binding writtenagreement?

Contracts are legally valid agreements signed by two or more parties. These agreements can be…

Answered: Late one evening Charles and Henry are…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Similar questions

Select the statement that describes how bilateral and unilateral contracts are alike and different. Both contract types involve two parties. But in bilateral contracts, both parties make a promise; in unilateral contracts, only one party does. Both are valid contract classifications, but only bilateral contracts involve two parties. Both are valid contract classifications, but only unilateral contracts involve two parties. Both contract classifications involve two promises, but only bilateral contracts involve two parties.
What are the terms used for the parties involved in the offers and negotiations leading up to the final contract? offeree and counteror offeror and recipient offeror and counteror offeror and offeree
In a word document start the first six sections of your bargaining agreement as indicated below: Preamble Article 1 – Definitions Article 2 – Parties, Recognition and Representation Article 3 – Management Rights Article 4 – Employee Rights Article 5 – General Employment Policies & Conditions Refer to Pacific County Bargaining Agreement: Do not copy and paste please thoughtful in defining each section of your agreement. Include a title page with the name of your company and the name of the bargaining unit that is represented. Additionally start a table of contents. The paper should contain one (1) inch margins on all sides, page numbers in the bottom left corners. All paragraph sections are to be double spaced, justified and all headers should be centered and bolded. Each section should be on a separate page. Please be original and please have fun!
Companies A and B differ only in their capital structure. A is financed 30% debt and 70% equity: B is financed 10% debt and 90% equity. The debt of both companies is risk-free. a. Rosencrantz owns 1% of the common stock of A. What other investment package would produce identical cash flow for Rosencrantz? b. Guildenstern owns 2% of common stock of B. What other investment package would produce identical cash flows for Guildenstern?
Able does not ever want Baker's shares to be transferred to Baker's brother, who has been convicted of criminal fraud and embezzlement on several occasions and who is currently serving time in a federal prison for one of those convictions. Which of the following types of restrictions on the transfer of Baker's shares might Able insist to accomplish this, even if Carter and Dennis don't share Able's concerns? Multiple Choice A put agreement Option agreement Provision disqualifying purchasers Buy-and-sell agreement Right of first refusal
Ben London owns and operates Fantastic Footage, a film-editing company in Los Angeles that does contract work mostly for production companies in Hollywood. Not long ago, a local landscaping business completed nearly $8,500 worth of work around London's offices. While the initial bid seemed a little high for the amount of work that was actually done, there is no question that the work completed was of high quality, and London finally feels comfortable inviting potential clients to meet him at his office to discuss possible deals. However, because of an apparent oversight, the landscaping contractor never submitted a bill. It's been more than 15 months since the completion of the project, and London has come to conclude that the contractor somehow lost track of the project. He is thinking about calling the company to ask for a final invoice so that he can settle up, but business has been really slow over the last year or so, and it hasn't been easy to pay all of the bills as it is.…
When signing a contract, how can you ensure consideration? Renegotiating an excisting contract : how do you meet the consideration requirement?
The elements of a valid contract is an offer, acceptance, consideration and intention to contract. An offer and acceptance equals an agreement. While consideration can be defined as something in the eyes of the law which can compensate or be adequate compensation for the promise to do an act. However, consideration is not an essential element in any contractual agreement. Parties to a contract simply have to establish an agreement and consideration can be ignored. Critically discuss. Requirements 1- An introduction and a conclusion. 2- A critical discussion on the concept of what are the elements of a valid consideration, inclusive of rules governing a valid consideration. Use landmark cases such as: Chappell and Co v Nestle Ltdjones vs padavattonstilk v myrickfisher vs bellhyde v wrenchhyde vs wrenchCurrie v Misa . Provide scholarly references
You've read about the statute of frauds and how it requires certain agreements to be in writing (remember the acronym MYLEGS). Thinking about all contracts, do you think that all contracts should be in writing? Or do you think this would hinder or slow down transactions? Please discuss your thoughts on these questions while keeping in mind the purpose behind the statute of frauds.
Choose the best answer. 3. What are the three most common hybrid work models? "Remote-First," "Office Occasional," and "Office-First, Remote Allowed" "Office-Only," "Remote-First," and "Hoteling" "Windowed Working," "Remote-Only," and "Office Allowed" "Remote-Only," "Office Encouraged," and "Remote-First" 2. If a firm uses a hybrid work model, what is an effective way to ensure employees coming to the office will have a place to work? <br> Assigning a desk to every employee. Using a "first come, first serve" system for desks. Provide dedicated desks to managers and only. Use a hoteling approach.
Read the case of Lambert v. Barron. What are the most important facts that support Lambert’s position that a contract existed? What are the most important facts that support Barron’s position that a contract did not exist? Do you agree with the outcome of the case? https://caselaw.findlaw.com/la-court-of-appeal/1241354.html
5. List the six (6) types of contracts that must be in writing.

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