What are the essential elements of a valid contract under business law, and how do they contribute to the enforceability of the contract?
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What are the essential elements of a valid contract under business law, and how do they contribute to the enforceability of the contract?
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Solved in 3 steps
- What are the elements of a contract? Explain who the parties of a contract might be.what is the functionalist view on zero hour contracts?Contracts are meant to be broken. What happens when you breach a contract? Find a case and explain what went wrong with the contractual situation, what was the outcome and the remedy. Did the Parties need to mitigate damages? How would you have handled the situation to avoid the outcome of breach? Are you in agreement with the outcome? Why? Remember to cite the case name and give us a factual background as to what happened.
- What are the main differences between arbitration and mediation in negotiation? Briefly explain both!WHAT IS THE MEANING OF THE OBJECTIVE THEORY OF CONTRACTS AND HOW DOES THE OBJECTIVE THEORY OF CONTRACTS RELATE TO CONTRACTUAL INTENT?What risks do buyers associate with each of the different types of contracts (fixed-price, incentive, or costs contracts)?
- Explain the concept of contract law. What are the essential elements of a contract, and what types of contracts are enforceable? What remedies are available for breach of contract, and what steps can a business take to minimize its liability for breach of contract?Defined as an unconscious ignorance or forgetfulness of the existence or non existence of a fact,past or present,material to the contract.In terms of contract law, what is meant by the phrase "meeting of the minds"? The two parties have met but have yet to agree to the terms and conditions of the contract. One party has a list of their desired terms and conditions and is ready to meet with the other party to discuss them. Both parties to the contract have a general idea of what they want but the specifics still need to be worked out. All the terms and conditions needed for full acceptance of the offer have been agreed upon by the two parties to the contract.