...Rule about Contracts: -common law/UCC uniform commercial code. UCC is for buying and selling goods, common law contract is for everything else, Party, subject matter, price,delivery, payment terms – all neds to be listed in common law Party and subject matter – 2 things for UCC- everything else is filled by the judge based on the reasonableness. Contract is a promise or set of promises for breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty. Contract is a set of voluntary promises that the law will enforce for private parties. Sources of Contract Law:/ Law that governs contracts 1) Common law * First law of contracts * Law decided by the judges and they used statutory law to interpret the common law * Common law applies to contracts that have land or services as their subject matter. Eg employment, home etc * Party, subject matter, price, delivery, payment terms * General treatment of the common law for contracts can be found in Restatement of Contracts 2) UCC – uniform commercial code * Common law lacks uniformity * Businesses experienced great difficutly and expense when they contracted across state lines because of differences in state contract common law * To address the need for uniformity, the National Conference of Commissioners on Uniform State Laws and the American Law Institute worked to draft a set of commercial laws appropriate for business people, lawyers, and law...
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...and contrast UCC contracts and common law contracts. UCC contracts and common law contracts are both governed by contract law. In other words, any contract that is written up has to follow the rules and regulations of contract law in all fifty States of America. Common law contracts are dictated by any changes in the contract. For instance, a change in a common law contract is seen as a rejection or a counter offer. When this happens it causes the offeree to change to the offeror and vice versa. Most importantly in order for a common law contract to be valid it has to have description, quantity, time, nature of the work or service, and an offer. UCC the Unified commercial code contract are still bonded if any change occurs. A binding contract will depend on the circumstances to the person that accepts the contract and to the person who drew up and wrote the contract and how much deviation to the contract. Also, a common law contract requires a consideration to keep a contract open but a UCC contract do not have too. Greg’s Part There are a few distinct differences between common law and UCC contracts. Common law contracts relate to transactions with real estate, services, intangible assets, and employment. UCC covers transactions with goods and tangible objects. Under common law, when the contract is has a change, it is a rejection and becomes a counter offer. With the UCC, even if there has been a change, it still may be a binding contract. There is also a...
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...International Contracts between Common Law and Civil Law: Is Non-state Law to Be Preferred? The Difficulty of Interpreting Legal Standards Such as Good Faith Giuditta Cordero Moss∗ ∗ University of Oslo, g.c.moss@jus.uio.no Recommended Citation Giuditta Cordero Moss (2007) “International Contracts between Common Law and Civil Law: Is Non-state Law to Be Preferred? The Difficulty of Interpreting Legal Standards Such as Good Faith,” Global Jurist: Vol. 7: Iss. 1 (Advances), Article 3. Available at: http://www.bepress.com/gj/vol7/iss1/art3 Copyright c 2007 The Berkeley Electronic Press. All rights reserved. International Contracts between Common Law and Civil Law: Is Non-state Law to Be Preferred? The Difficulty of Interpreting Legal Standards Such as Good Faith∗ Giuditta Cordero Moss Abstract Most commercial contracts are nowadays written on the basis of English or American contract models, irrespective of whether the legal relationship that the contracts regulate is governed by a law belonging to a Common Law system or not. These contract models are drafted on the basis of the requirements and structure of the respective Common Law system in which they were originally meant to operate. These models may therefore be in part ineffective or parts thereof may redundant, if the governing law belongs to a Civilian system. To overcome this tension between Common and Civil Law, it is sometimes recommended to subject international contracts to non-state...
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... project plan 5.0 6 project plan 5.1 6 project MILESTONES AND DEADLINES 5.2 7 WHAT COULD GO WRONG 5.3 7 MAINTAINENCE 6.0 8 WEBSITE MAINTAINENCE AND DEVELOPMENT 6.1 8 POST MAINTAINENCE 6.2 9 conclusion 7.0 9 bibliography 10 Mission Statement Kennesaw State University Dining Facility, Commons is to provide students, faculty, and staff with quality food and services. This is accomplished by practicing creative menu development, ensuring a friendly environment, incorporating variety, and convenience. Executive Summary The Commons at Kennesaw State University is very popular and has a meal plan that is required by all students with the exception of seniors. ……………………. It would be in the best interest of Kennesaw State University to fix this problem with the university growing rapidly. In addition to the meal plan already in place, another reason to improve the Commons is due to the upcoming football team in 2015. There will be an influx in newly recruited athletes at KSU. We are designing a smartphone application to help the university’s Culinary Department to become more efficient. Also, we have chosen to improve the Commons of Kennesaw State University and would like to implement an up-to-date menu, incorporate social...
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...Discussion Questions Environmental Collaboration RPTS 609 Edward Abbey – “Society is like a stew. If you don't stir it up every once in a while then a layer of scum floats to the top” Advocacy Questions: 1) In regards to your advocacy paper, what were your advocacy group’s mission/key initiatives? What made them successful in fulfilling their mission? 2) Have you ever been a part of an advocacy/non-profit group? If so why did you join? Overcoming Locally Based Collaboration Constraints (Margerum) 1) What was the purpose of this study? 2) What are some positive attributes associated with Localism? 3) What are the five collaboration constraints associated with localism? Are these constraints limited to localism? Do they outweigh the benefits of Localism or grass-root programs? 4) How does the Nested Collaboration Model of the Rogue Basin address these constraints? Making It Work: Keys to Successful Collaboration in Natural Resource Management (Schuett, Selin, & Carr) 1) What are the six categories that emerged in successful collaboration? How do these categories rely on the stakeholders involved in collaboration? 2) Are there any limitations to the methods used in the study? Is there anything you would change? 3) In both articles by Margerum and Schuett, success is based on qualitative interpretation. Is this a good way to measure success? Are there other ways that we ought to measure success? Is This the Course You Want to Be...
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...concepts introduced in earlier chapters. Marc and Craig begin by taking the simplest example of raising a few thousand dollars and move on to greater feats like raising over a billion dollars to help victims of natural disasters. The authors begin by describing a school in Toronto that has dozens of obstacles that it faces on a daily basis. Among those issues are racial tension, frequent violence and gang problems. The authors described this school as a type of school that was thought of as “needing help rather than giving it.” The authors describe how the student body was inspired by a speaker from Free the Children and ended up raising over $30,000 to help several causes in Africa. The authors then begin talking about the “tragedy of the commons” and truly begin hitting on their point of UNITY. Through several concise examples readers learn how working together for the greater good is much more effective than simply working alone. Continuing with the theme of unity, the authors talk about an issue that hits very close to home for me; family values. I have written extensively in prior assignments about my close relationship with my family and I’m very glad to see that Marc and Craig hold similar views on this issue. The whole philosophy of Me to We begins at a very young age and a tight-knit family is a key element that harbors a vibrant...
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...worked with YWCA administrators to research and develop a successful three-year funding proposal that greatly expands supportive services and facilities for women in the program. Prior to the expansion, staff offices and program locations were spread out over seven floors, with staff available mostly on weekdays during office hours. Now services are consolidated on one floor with a friendly, convenient “drop-in” center approach for residents. Supportive service staff are available around-the-clock to help residents achieve their goals, and to improve building safety and security. PSC continues to work with the Resident Council to refine the new program design, and coordinates meetings of the peer recovery program in partnership with the Commons at Grant and YMCA supportive housing...
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...Elements of a Contract BUS 670 August 25, 2015 Elements of a Contract Introduction A contract is a legal agreement between two entities that creates obligations by both parties that are enforceable by law. As Verkerke (2015) notes, individuals are often ill-informed of the legality of most common dealings in their lives. With a common ignorance of legal matters, it is essential that contracts contain the required elements to be legally binding and protect both parties involved. Additionally, it is pertinent to understand the difference between contracts governed by common law and those governed by the Uniformed Commercial Code (UCC). Finally, prior to signing a non-compete agreement or asking someone to, it is important to understand the circumstances that make it enforceable as well as the diversity of enforcement standards as they vary from state to state. Five Elements Required for Enforcement Every contract contains promises that are enforceable, however only certain conditions are enforceable by a court if they meet the following five elements: an offer, an acceptance, consideration, capacity, and legality (Seaquist, 2012). The first element, the offer, occurs between two parties, the offeror (the one who makes the offer) and the offeree (the one who has the option to accept the offer) which grants the offeree the power of acceptance (Seaquist, 2012). Although some preliminary negotiations may take place before the final acceptance of the offer, they are...
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...required for the formation of a valid contract 9 1b. Analyse the scenario from the perspective of the law of contract. Apply the rules of offer and acceptance in a given scenario, also considering any impact of new technology 11 1c. Assess the importance of the rules of intention and consideration of the parties to the agreement 12 1d. Explain the importance of the contracting parties having the appropriate legal capacity to enter into a binding agreement 14 2a. Analyse specific contract terms with reference to their importance and impact if these terms are broken 16 2b. Apply and analyze the law on standard form contracts 17 References 19 1a. Explain the different types of business agreement and the importance of the key elements required for the formation of a valid contract To implement the business activities with others, an person and even an organization needs make the legal contracts. The contract is considered as a versatile legal tool which guarantees legal enforcement of its terms. There are four popular types of business agreements such as sales agreements, employment agreements, independent contractor agreements and confidentiality agreements (1). * Sales agreements: this is a type of business contract between merchants and consumers. It is considered as a binding contract which binds the related parties if they sign the contract. The parties will be responsible for implement follow the terms of contract. The party of merchants usually has responsibility...
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...Elements of a Contract Nicole Castro BUS670 Legal Environment Prof. Robert Tocker September 2, 2013 A contract of employment is a type of a contract used in labor law to attribute rights and responsibilities between parties to a contract (Blum, 2007). On the one end stands an "employee" who is "employed" by an "employer". A written employment contract is a document that someone and their employee sign which sets forth the terms and conditions of the employment relationship (Tepper, 2011). Many rules, exceptions and considerations apply when dealing with employment contracts. Suppose that the Fabulous Hotel hires you as head chef under a two-year employment contract. After two years, another hotel wants to hire you. However, in the original employment contract you signed with the fabulous Hotel, the following paragraph appears: “The below-signed agrees not to work as a chef for another hotel in the same metropolitan area for a period of two years after leaving our employ.” First, it is crucial to know and understand which law governs the employment contract. According to Seaquist, contract law is governed by the common law or the Uniform Commercial Code (UCC) (Seaquist, 2012). If the contract handles the sales of goods, it is governed by the UCC (Seaquist, 2012). If the contract handles anything besides the sale of goods (such as real estate, insurance, personal services like employment, etc.) then it is governed by the common law (Seaquist, 2012). ...
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...ELEMENTS OF A CONTRACT AND ENFORCEABILITY UNDER COMMON LAW AND UNIVERSAL COMMERCIAL CODE (UCC) Student Name: Michael Shepard Course Name and Number: Business 670: Legal Environment of Business Instructor: Dr. Leah Westerman Submission Date: April 20, 2015 Abstract This article will define the five elements needed to form an enforceable contract under common law and the Uniform Commercial Code (UCC). It will describe which types of contracts come under common law and under UCC. It examines one hypothetical, non-competitive agreement between a Chef and an employer (namely, Fabulous Hotel) in terms of enforceability and whether common law or UCC need to be applied to the specific case. The contract in question requires Chef to not become employed at any other dining establishment in the same metropolitan area for a period of two years after separation of employment with Fabulous Hotel. The article shows under four possible conditions in which the contract may become unenforceable. It concludes with reinforcement of contractual elemental requirements and suggests more appropriate contract formation provisions in serving best interest of both parties under common law and UCC. Five Elements of a Contract The five elements needed to form a viable contract are: offer by one party to another or many, acceptance by the offered party, consideration (usually in the form of remunerative compensation for accepted offer) in exchange for accepted offer, legal capacity...
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...Elements of a Contract Sandee Jones Ashford University Business Law BUS670 Mr. Michael Huang December 16, 2013 Elements of a Contract Our entire economy is based on the freedom of individuals and businesses alike to form contracts, and a legal system of laws that enforces each to freely enter into. Most folk are used to seeing a contract in written form, and so most assume it must be lengthy, and in writing to be enforceable. This is not 100 percent true. However, there are five elements of a contract that must exist for the agreement to be enforceable (Seaquist, 2012). Contracts have no particular form. There are no particular words or phrases that must be used by either party. But someone needs to make an offer, which is element number one of a contract. The three characteristics of an offer are: 1. The language of the offer is definite and certain. This means that words that mean you are serious and “for sure.” 2. The transaction looks like a contract and it passes the “objective test,” and 3. The offer has been communicated to the offeree. The second element is “Acceptance.” Acceptance can happen after a valid offer, but it is the only one that leads to the “contract formation.” This means that one party has made an offer and another person has accepted the offer. For example, if an offeror says, “I will sell you a car for $5,000” and the offeree says, “I’d love another dependable car for $5,000.” The two have agreed to the terms of the offer and...
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...Christy Matheny Regulation 11/10/2014 Kim v. Son Case Study Reading and learning about the Kim v. Son case was very interesting and brought up different contract principals to examine. In this study we see that Jinsoo Kim invested money into two corporations owned by Stephen Son. The two businesses ended up failing and all of Kim’s investment went down the drain. Down the road, after the downfall of the corporation, Kim and Son met to eat and drink where Son made an intoxicated promise with his own blood to repay Kim for his lost money (Beatty and Samuelson, 2008, p.164). At first glance of this case my thoughts went right to intoxication and how this contract could be voidable since Son was intoxicated when the agreement was made. However, further reading suggested that courts vary rarely allow a contract to be voidable purely because of intoxication. Some may be too intoxicated for certain things, but as long as they were aware of the contract being made, it would not be voidable (Beatty and Samuelson, 2008, p.164). Therefore, the argument that Son was in fact intoxicated would not hold up in a court of law. Looking more deeply into the case, I researched what the initial investment entailed. Kim invested money into the two companies; MJ. Inc. and Netouch International Inc. The investment money, as far as could be seen, was not given to directly benefit Son, but to benefit the companies. During the initial investment there was also never a promise to guarantee the loan...
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...The Law Handbook Your Practical Guide to the Law in New South Wales 11th edition Contracts 12 Author Carolyn Penfold, UNSW, Sydney The information contained in this document is as up-to-date and as accurate as possible at time of publication in August 2009. 340 The Law Handbook A consumer is a person who acquires goods or services for personal or household use. We are all consumers. Most consumer dealings, whatever their size, cost or importance, are based on a contract. The basic principles of contract law are discussed in this chapter. These apply to purely commercial transactions (such as between a manufacturing business and its supplier), as well as transactions where one of the parties is a consumer. The development of contract law Contracts under common law Contract law is largely a product of the common law – it has been developed by the courts rather than by parliament passing laws. A basic common law principle is the assumption that a contract is a bargain made freely between equal parties (freedom of contract). Because of this, courts have been unwilling to set aside or alter contracts except in very limited circumstances. Even where there has been unfairness or sharp practice the principle of sanctity of contract has generally prevailed, and contracts have been upheld. not the equality that contract law has traditionally assumed. Limited bargaining opportunity In practice there is usually little opportunity for bargaining – goods and services...
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...Elements of a Contract Week 3 Assignment Bus: 670 Legal Environment Micah Blount Prof. Jennifer Stephens February 17, 2014 Introduction The goals of a contract are to ascertain the concord that the parties have prepared and to allot their privileges and responsibilities in accordance with that contract. The legal courts should implement a legitimate contract as it is created, unless there are basis that affect its enforcement. It is the purpose of the decree to promote the development of contracts between capable parties for legal rationales. As a universal statute, contracts by able parties, justifiably prepared, are compelling and enforceable. The provisions to which they have settled force persons to a contract. The purpose of this paper is to determine whether the contract in question is legally bidding. Many people call contracts “agreements”; however, I prefer the term contract, because it can mean one or more agreements within the contract. In contract, word “agreement” sounds as though only one agreement was made. A contract is formed when two or more persons or “parties” (hereafter party) agree to do, or to refrain from doing, something; and each party has some sort of stake in the outcome. In other words, one party cannot provide all the benefits while the other party provides nothing. For a valid contract to be formed that is enforceable by a court, each of the following criteria must be present: offer, acceptance, consideration, capacity, and legality...
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