...Internet sale can be defined as concept of ‘bringing stores to shoppers, not shoppers to stores’. E-consumer is the customer purchases goods and services through electronic systems such as Internet and other computer network. Nowadays consumers can buy anything at anytime from anywhere without leaving their home. E-commerce seems to be more convenient and easy way for consumer because they can purchase any items they want from internet without leaving their home compared to conventional shopping. E-contract can be defined as legally enforceable promises or set of promises that using electronic medium. An e-contract is a service contract that excludes any paperwork or black and white. E-contract is a contract between e-consumer and e-business and related business. It also shows an important relation between them. It is designed to protect e-consumer when they are having a transaction in the electronic area. An e-contract is a contract modelled, executed by a software system. E-contracts can be mapped to inter-related programs, which have to be specified carefully to satisfy the contract requirements. By the way, these programs do not have a capability to handle perplexing relation between parties to an e-contract. An e-contract is an agreement electronic form. An e-agreement can be drafted in the similar pattern in which an agreement is drafted. E-Contracts can be categorized into two types of agreements, shrink-wrap agreements and web-wrap agreements. A person who always makes...
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...into picture, e-business has now become an easy way for interaction between firms and their customers. The Internet era has added a lot of value to the supply chain by helping firms to carry out a cost effective business, transfer of information between companies, suppliers and customers. The impact of e-business on supply chain integration can be seen mainly on four key points: information integration, effective Planning, workflow coordination &new business model. A virtual enterprise is formed when various autonomous companies come together and act as a unit by tightly integrating their business processes by the means of IT & ICT. A contract is an agreement built on the fundamentals of mutual commitment for cooperation, between two or more parties that binds those parties. In a B2B, e-business contract is a formal agreement between a buyer and seller for managing negotiations and validate operations. It is signed to address the issues of fraud and working on specific terms and conditions. It should describe both parties involved, definition of specific terms used in the contract, the jurisdiction under which the contract is valid and enforced, duration of the contract and the terms and conditions for each transaction. Therefore this calls for the need of formal norms for process-oriented contracts and specifies a criteria to form basis for synergy between the private view and public view of a contract on the fundamental lines of open nets & ensures a contract implementation...
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...business need to be invented and worked. Existence of e-contract in the market is accomplishing the need for innovativeness in the traditional business segments. Businesses, both existing and new are trying to create an online individuality and an e-contract stand keeping in view the needs of the modern times. E-contract is one of the divisions of e-business. It holds a similar meaning of traditional business wherein goods and services are switched for a particular amount of consideration. The only extra element it has is that the contract here takes place through a digital mode of communication like the internet. It provides an opportunity for the sellers to reach the end of consumer directly without the involvement of the middlemen. New models of business demands different organisational charters. E-contract demands an organizational charter which caters to its new marketing needs. This mode of business enables businesses to save time on product design and device products according to the individual customer requirement, track sales and get immediate feedback from the customer. Contracts have become so common in day-to-day life that most of the time we do not even recognize that we have entered into one. Right from buying a vegetable and hiring a Cab or to buying an airline ticket online, uncountable thing in our daily exists is governed by contracts. The Indian Contract Act, 1872 rules the way in which contracts are made and...
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...explore the aspects of business contracts and these aspects’ application to business management. Discussion focuses on Internet contracts and international transactions. You conduct a simulation to evaluate contract performance requirements and solutions for if the contract is not upheld Contract Risk and Opportunities OBJECTIVE: Analyze legal issues arising from contract formation, performance, and remedies. Resources: Ch. 9–11, 16, 18, & 20 of Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues Content • Ch. 9: Nature of Traditional and E-Contracts o Introduction to Nature of Traditional and E-Contracts o Definition of a Contract o Sources of Contract Law o Objective Theory of Contracts o E-Commerce o Classifications of Contracts o Equity • Ch. 10: Agreement o Introduction to Agreement o Agreement o Offer o Special Offers o Termination of an Offer by Act of the Parties o Termination of an Offer by Operation of Law o Acceptance • Ch. 11: Consideration and Promissory Estoppel o Introduction to Consideration and Promissory Estoppel o Gift Promise o Contracts Lacking Consideration o Settlement of Claims o Equity: Promissory Estoppel • Ch. 16: Remedies for Breach of Traditional and E-Contracts o Introduction to Remedies for Breach of Traditional and E-Contracts o Performance and Breach ...
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...A contract dispute between two businesses is very common. Litigations are handled in state courts or federal courts and during the arbitration. The disputes commonly involve intellectual property, privacy, ethics, and security. Many business to business contract disputes will include construction companies, real estate, Insurance claims, and in some cases they will include television stations. Upon reading an article with the famous TV show the Simpsons and the contract dispute with CBS, the show was almost canceled due to a contract dispute. The dispute between CBS and the TV show the Simpsons was over the salaries of the cast members. This would not be classified as an intellectual property legal issue. Intellectual property (IP) typically involves patents, trademarks, industrial design, copyrights and artistic work. Since it is much easier to prove that you own a physical object than it is to prove that you own an invention. In the contract dispute between CBS and the Simpsons it was more of an ethical issue that took place (CBS News, 2011). Disputes such as the dispute between CBS and the cast of the Simpsons still would not fall under patents, copyrights or trademarks. Patents are for an invention to grant property rights to the inventor. A patent is valid for 20 years from the date on the application. A copyright is a protection for the authors of original work. If the dispute had been over the Simpsons and another’s use of the catchy quote “d’oh” it would have fallen...
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...frequently not found in the construction, coal, and trucking industries. 2. A party's resistance point on a bargaining issue represents that point beyond which that party would prefer no settlement to settlement on unacceptable terms. 3. In labor negotiations, it is possible for both union and management negotiators to perceive they have been successful after completing contract negotiations. 4. Management would probably prefer centralized bargaining if it had three separate manufacturing facilities (bargaining units), each making the same product. 5. The proportion of an employer's total operating costs comprised of labor costs is termed the degree of labor intensiveness. 6. Bargaining power is more likely to be an important determinant of negotiated outcomes when the parties use a distributive bargaining approach or strategy. 7. Auto industry contract negotiations in 2007 represent an example of pattern bargaining. 8. Generally, high unemployment reduces the union's cost of disagreeing with management. 9. Smaller-sized (less than 10 individuals) bargaining teams are generally preferable to larger bargaining teams to enhance bargaining effectiveness. 10. "Voluntary" (also called permissive or non-mandatory) issues must be bargained over but agreement does not have to be reached. 11. Any failure to reach an agreement on contract language concerning a mandatory bargaining subject represents a violation of the duty to bargain in good faith. 12. Unions...
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...patents in e-business and intellectual property. Patents are important when running an e-business. This is so because it is on an open market and the competition may be from any location. E-business should be aware that patents might not automatically cover new invention. Before opening an e-business potential owners should research e-business patent laws (Mello, 2002). They should be aware of domestic and international laws. Understanding general patents will help e-business owners better understand e-business patents. Patents are only enforceable in the country which it is established. Therefore, e-business owners need to determine the different countries they may potentially go into business with so they can be protected (Mello, 2002). E-businesses are still fairly new and many laws still need to be updated to protect these types of businesses. E-businesses owners has to be more careful than traditional business owners as they are more prone to fraud and copyright infringement. In order to have a clear chain of title for intellectual property e-business owners should have employment contracts. Having employment contract that include clauses that protect the company’s information is very important in running an e-business. These clause need to clearly state that the employer is entitled to all intellectual property developed by employee during the course of their employment (Mello, 2002). Once patents are obtained, they can be used to keep outsiders out of the e-business...
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...vast majority of the population relies on electronic means to conduct their everyday business. We pay our bills online, make purchases online and sometimes even enter into contracts online. No longer do you need a person’s John Hancock to make a contract legally binding. We have transformed into a society where electronic signature (E-Sign) is just a binding as your wet ink signatures. E-Sign and the Uniform Electronic Transactions Act (UETA) are often compared to each other, but in all actuality they are different when it comes to the way consumers are actually treated. The basic purpose of UETA is to support the use of electronic commerce. The primary objective of this act is to establish the legal equivalence of electronic records and signatures with paper writings and manually signed signatures, which ultimately helps remove barriers to electronic commerce. Once difference between the two is that UETA is state and E-Sign is Federal. You can trace the creation of E-Sign back to UETA. Keep in mind that UETA only applies to Article 2 and 2A transactions and as of July 2006, only forty-six states to include the District of Columbia and the U.S. Virgin Islands have adopted UETA (White & Summers, 2010). Due to the fact that all of the states failed to adopt UETA, Congress felt the need to enacted E-Sign in 2000; which in some ways covers the same areas. UETA is one of several United States Uniforms Acts that has been proposed by the National Conference of Commissioners...
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...Theory to Practice Normally the contract would have been formed when before the expiration of the 90 day period the parties reached an oral distribution agreement at the meeting. However, the exclusive negotiation agreement stipulated that no distribution contract existed unless it was in writing. The contract was formed when the BTT manager sent the "Strat Deal" to Chou. Since the e-mail contained all the key terms of the distribution agreement including price, time frames, and obligation of both parties, the e-mail complied with the requirement that the contract should be in writing. When the BTT manager sent the e-mail, the contract was formed (Andrews. N, 2011). There is an objective manifestation of intent to contract. The first manifestation of the intent to contract is the payment by BTT of $25,000 in exchange for exclusive negotiation rights for a 90-day period. The second manifestation of the intent to contract is the meeting between BTT managers and Chou where they reached an oral distribution agreement. Third the sending of e-mail drafted by BTT manager shows the intent to contract. Fourth, the stating of all the terms that had been agreed upon in the BTT manager e-mail shows the intent to contract (Barnett. R, 2010). According to the contract law, the offer is a manifestation of intent. During the negotiations an offer was made to Chou. This was the manifestation of intent to contract. The second manifestation was the valid acceptance of the offer during the meeting...
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...frequently not found in the construction, coal, and trucking industries. 2. A party's resistance point on a bargaining issue represents that point beyond which that party would prefer no settlement to settlement on unacceptable terms. 3. In labor negotiations, it is possible for both union and management negotiators to perceive they have been successful after completing contract negotiations. 4. Management would probably prefer centralized bargaining if it had three separate manufacturing facilities (bargaining units), each making the same product. 5. The proportion of an employer's total operating costs comprised of labor costs is termed the degree of labor intensiveness. 6. Bargaining power is more likely to be an important determinant of negotiated outcomes when the parties use a distributive bargaining approach or strategy. 7. Auto industry contract negotiations in 2007 represent an example of pattern bargaining. 8. Generally, high unemployment reduces the union's cost of disagreeing with management. 9. Smaller-sized (less than 10 individuals) bargaining teams are generally preferable to larger bargaining teams to enhance bargaining effectiveness. 10. "Voluntary" (also called permissive or non-mandatory) issues must be bargained over but agreement does not have to be reached. 11. Any failure to reach an agreement on contract language concerning a mandatory bargaining subject represents a violation of the duty to bargain in good faith. 12. Unions...
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...8 ASSIGNMENT 2 LEG 210 WK 8 Assignment 2 - Business-to-Consumer e-Commerce The overwhelming use of the Internet for the purchase of products has led to the inception of cybercrime and increased fraud and liability concerns. Identify a company in your state that sells products via the Internet. Write a five to six (5-6) page paper in which you: 1. Determine whether the consumer would have any recourse for defective products purchased on the Internet via a production liability action. Support your position. 2. Determine whether the Statute of Frauds could be applied to prevent the sale of that company’s product on the Internet. Support your position. 3. Compare and contrast the difference in the use of a generic electronic signature versus a digital signature when entering a contract with your chosen company. Determine which would allow you to void the contract if a contract issue arose. Cite one (1) current case (from 2009 or later) in which enforcement of an e-Signature was at issue in the case. More Details hidden... Activity mode aims to provide quality study notes and tutorials to the students of LEG 210 WK 8 Assignment 2 in order to ace their studies. LEG 210 WK 8 ASSIGNMENT 2 To purchase this visit here: http://www.activitymode.com/product/leg-210-wk-8-assignment-2/ Contact us at: SUPPORT@ACTIVITYMODE.COM LEG 210 WK 8 ASSIGNMENT 2 LEG 210 WK 8 Assignment 2 - Business-to-Consumer e-Commerce The overwhelming use of the Internet for the purchase...
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...to have duties under the law of contract and the main legal requirements for the formation of a contract with practical examples and applied theory to support the arguments and then we are going to discuss about how business-people come to have duties for negligence under the law of tort and the main legal requirements for liability in negligence with practical examples and applied theory to support the arguments and then we are going to discuss briefly about the E-commerce and how business-people have duties under the law of e-commerce with exactly one legal requirement of the E-commerce Regulations 2002 and then finally we will discuss briefly about the business ethics and then thoroughly about if the business-people operate mainly out of self-interest or not and then we are going to discuss briefly why we are disagree with statement of "The Wealth of Nations" (1776) by Adam Smith. “Contract and how do business-people come to have duties under the law of contract” When two or more parties agreed upon specific terms and conditions in written and willingly want to perform their duties and responsibilities is called agreement and when the agreement is enforceable under the law is called contract. Every contract should need to have the offer and acceptance from two or more parties and with something in return (consideration) and with the purpose to make legal relations. The main legal requirements for the formation of a contract are as follows: • Capacity: ...
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... Law of Contract: Discharge of the Contract INTRODUCTION In this lecture, we will first discuss a number of ways in which a contract can be discharged (that is, brought to an end), including the right of termination for major breach of contract. We will then consider the issue of breach of contract in further detail, with a focus on the common law remedy of damages together with the principles by which the Courts can assess damages. We will then discuss the equitable remedies for breach, chiefly specific performance and injunctions, and conclude by considering the issue of expiration of time and the loss of the right to sue. On successful completion of this lecture, you should (within the scope of the course) be able to: identify the ways in which a contract may be discharged describe discharge of a contract by performance describe discharge of a contract by agreement describe discharge of a contract by operation of law describe discharge of a contract by breach describe the remedy set respectively available for breach of condition and warranty describe and understand the remedy of damages and how the quantum of damages is assessed by the Courts describe the principle of causation describe the principle of remoteness describe the types of losses recoverable, and distinguish between pecuniary and non-pecuniary loss describe the duty of mitigation of loss describe the equitable remedies for breach and understand when they apply describe the issue of limitation...
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...to Practice A contract is an agreement a court of law will recognize. An agreement may result in a binding contract whether it is an oral or written agreement between parties (Melvin, 2011, p. 126). Contracts are put in place to protect both parties on either end of the agreement. A big time Toymaker (BTT) was interested in a new game invented by Chou. BTT entered into an agreement with Chou for exclusive rights to his inventory for a 90-day period at the cost of $25,000 (Melvin, 2011, p. 155). This paper will discuss some pros and cons of a contract, if and when a contract should apply to a situation, and some remedies for a breach of contract. Contract BTT and Chou made an exclusive negotiation agreement for a 90-day period. This agreement had stipulations that a contract had to be in writing within this period. Before the expiration of this period, the parties reached an oral agreement in a meeting followed by an e-mail from BTT to Chou repeating their oral agreement on paper. This electronic document reiterated the key terms of what was agreed upon in the meeting between the parties (Melvin, 2011, p. 155). With areas agreed upon, the parties should be considered under contract. Positive and Negative Facts of Agreement There are several areas in this simulation that show positive and negative facts for Chou in terms of the intent of contract. The facts that weigh in favor of Chou: * Meeting that was concluded with an oral agreement * Follow-up e-mail from BTT...
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