...LAW EXTENSION COMMITTEE WINTER SESSION 2012 CONTRACTS SAMPLE OF AN ANSWER TO A PROBLEM QUESTION QUESTION Alan is a tenant of a home unit owned by Bill. Ten days ago Alan received a letter from Bill in which Bill stated that he (Bill) was ‘interested in selling’ his flat and asking Alan to ‘let him know’ if he (Alan) was willing to buy the home unit for the price of $450,000. Three days later Alan posted a letter to Bill in which he agreed to buy the home unit for the price set out in Bill’s letter. After receiving Alan’s letter, Bill telephoned Alan and told him that he had decided that he did not want sell the home unit. Alan seeks your advice as to whether he has a contract with Bill for the sale of the home unit. ANSWER Introduction For a contract to arise in the circumstances of the question, one of the parties has to make and offer which is duly accepted by the other. If there is an offer followed by an acceptance there will be a contract between the parties. Issue The issue raised by the question is whether Bill’s letter constitutes an offer. If it does, Alan’s reply is an acceptance of the offer, with the consequence that a contract exists between the parties. However, if Bill’s letter is only an invitation to treat, no contract exists between the parties because Alan’s reply will not be the acceptance of an offer. In fact, Alan’s reply would constitute the making of an offer to purchase the unit from Bill, and it is clear that Bill rejected...
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...Contract of Sale of Real Estate — Particulars of Sale Part 1 of the standard form of contract prescribed by the Estate Agents (Contracts) Regulations 2008 Property Address: |The vendor agrees to sell and the purchaser agrees to buy the property, being the land and the goods, for the price and on| |the terms set out in this contract. | |The terms of this contract are contained in the— | |( Particulars of sale; and | |( Special conditions, if any; and | |( General conditions; and | |( Vendor's Statement | |and in that order of priority. | |The Vendor's Statement required by section 32(1) of the Sale of Land Act 1962 is attached to and forms part of the terms | |of this contract. | |IMPORTANT NOTICE TO PURCHASERS ...
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...Overview CQI's Q Coffee System locates specialty coffees at origin and helps to improve those that have the potential to meet specialty standards. The effect is a common language between buyers and sellers that draws attention to more specialty coffees while creating an infrastructure that gives producers greater opportunities to enter the marketplace and to increase their economic viability. When a coffee moves through the Q Coffee System and becomes verified as a Q Coffee™, it signifies an independent confirmation of quality that can truly be deemed specialty. Green coffee samples are submitted to an In-Country Partner (ICP), and 3 Licensed Q Graders (professionally accredited cuppers) cup and score the coffee. Coffees that meet the standards for green, roasted, and cup quality are issued a Q Certificate. If a coffee does not meet specialty standards, it receives a technical report that explains why. Reinforcing Standards | A Differentiated Approach According to SCAA standards, a coffee that receives a score of 80 or above is considered specialty, Q Coffees™ provide an assurance of quality that consumers can trust. While many variables in roasting and brewing affect the taste of coffee, Q Coffees™ confirm that the beans being used are among the highest quality in the world - properly milled and having distinguishable characteristics that separate them from other coffees. A good bean is the first step toward achieving a perfect cup of coffee. Reinforcing the standards of...
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...Research Proposal: A CRITICAL ANALYSIS ON THE IMPLICATIONS AND EFFECTS OF CORRUPTION IN THE SOUTH AFRICAN ECONOMY AND HOW IT CAN BE MANAGED About the writer: Tyson Thamsanqa Sibanda Rosebank College South Africa: Bachelor of Business Administration 3 (2015) Contact details; Tyson.msimanga@gmail.com 0027786500000 / 0027815993434 BACKGROUND AND ORIGIN Corruption in South Africa has been so widespread that, unless it is decisively tackled in this presidential term, there is a real danger that it will become embedded as a ‘normal’ aspect of life in our country. Once it becomes part of the ‘culture’ of our society, it will be almost unmanageable to uproot. Corruption is generally defined as the abuse of public office for private gain. It usually comes in two forms. Firstly, the alleged ‘big-time’ corruption which take place when public officials bend the rules to channel patronage to relatives, friends and associates, or accept bribes; as well when private agents bribe public officials to give them exclusive advantages or privileges. Secondly, there is the quiet corruption, which occurs when public servants purposefully neglect their duties to provide public services or goods. Quiet corruption may not involve an exchange of money, but involves providers of public services such as teachers, nurses or other government officials, twisting the rules for their own private welfares. This includes, for example, public servants, such as a minister or nurses not turning up for work when...
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...ASMA FATHIMA REG NO: 11SKCMA016 TITLE OF THE STUDY: “A STUDY ON PERFORMANCE MANAGEMENT SYSTEM OF LIFESTYLE INTERNATIONAL PVT LTD” 1. TITLE OF THE STUDY: “A STUDY ON THE PERFORMANCE MANAGEMENT SYSTEM OF LIFESTYLE INTERNATIONAL PVT LTD.” 1.0. INTRODUCTION TO THE STUDY: Performance Management System (PMS) includes activities which ensure that goals are consistently being met in an effective and efficient manner. Performance management can focus on the performance of an organization, a department, employee, or even the processes to build a product of service, as well as many other areas. PMS is also known as a process by which organizations align their resources, systems and employees to strategic objectives and priorities. In organizational development (OD), performance can be thought of as Actual Results vs Desired Results. Any discrepancy, where Actual is less than Desired, could constitute the performance improvement zone. Performance management and improvement can be thought of as a cycle: • Performance planning where goals and objectives are established • Performance coaching where a manager intervenes to give feedback and adjust performance • Performance appraisal where individual performance is formally documented and feedback delivered It is to understand the gap between two things: A performance problem is any gap between Desired Results and Actual Results. Performance improvement is any effort targeted at closing...
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...All of the following data are demographic data except a. income b. age c. education d. residence e. religion * Data Types The following question elicits _____ data. How satisfied are you with the last flight you took with American Airlines? Very Somewhat Neutral Somewhat Very Dissatisfied Dissatisfied Satisfied Satisfied 1 2 3 4 5 a. demographic b. psychographic c. attitude d. behavioristic Types of variables marketing researchers may work with include all of the following except a. nominal b. ordinal c. logistic d. ratio The variable in which numbers serve only as labels to identify or categorize objects or events is the ____. a. nominal variable b. ordinal variable c. interval variable d. ratio variable The following question will result in a ____ variable. Which is your favorite Yogurt brand? __ Yoplait __ Dannon __ Chobani __ Stonyfield __ Other () a. nominal variable b. ordinal variable c. interval variable d. ratio variable Which type of scale is the following question? Please rank the importance of the following product features in your decision to buy a laptop computer. (1=most important, 4=least important) a. Rank order b. Likert scale ...
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...200 workers who responded to the survey questionnaires expressed a high level of interest in the topics of corporate restructuring and redesign of benefits programs. However, a critical review of the claim and its premise cast some doubts on the validity of the argument. First, corporate restructuring and redesign of benefit programs is a small part of management issues and thus cannot be used as a basis to say workers have interest in management issues. Second, for workers to have merely indicate on a questionnaire that they have interest in the topics of corporate restructuring and design of benefit programs is not enough to conclude that they actually do it in reality. Finally, a generalization made from the result of a survey with a sample size of 1,200 workers without stating the population size is not adequate. First and foremost, the discussion will touch on the inadequacy of the premise as against the claim. With this, I state that, corporate restructuring and redesign of benefit programs is a small part of management issues and thus cannot be used as a basis to say workers have interest in management issues. Management issues encompass several measures. These are inclusive of spinning of departments into agencies to enhance efficiency, changing of product lines, merging with or acquiring of other firms and so on. Again, the emphasis of benefit programs is so obvious that workers will be concerned with since it directly affect them thereby resulting in the kind of response...
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...(1) Assign a single number to each element in the sampling frame. – (2) Use random numbers to select elements into the sample until the desired number of cases is obtained. • The method is not very different from winning a lottery. 2. Systematic Sampling • Steps: – (1) Calculate the sampling interval as the ratio between population size and sample size, I = N/n. – (2) Arrange all elements in the population in an order. – (3) Select a case in the first interval randomly. – (4) Select every ith case from this point. 2. Systematic Sampling (continued) I I 1st element, randomly chosen I I I I – Systematic Sampling is easier and simpler than SRS – The text warns of a danger to this method. What is it? 3. Stratified Sampling • Stratified sampling is more complicated than SRS. The advantage is the guaranteed representativeness in some important characteristics. • For example, say that we want to select a sample of 100 individuals. Sex ratio in the sample is up to chance if we do SRS. We can guarantee the 50-50 split if we do stratified sampling: Stratified Sampling, Graphic Representation Population SRS SRS Sample • Stratified sampling is often used to reduce the variability of a sample. Oversampling, Graphic Representation Population SRS SRS Sample • Increasing the representation of a group in a sample. This is often done when groups are very different in size – e.g., race 4. Cluster Sampling • Cluster sampling is...
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...INTRODUCTION The Study is entitled “IRREGULAR SUDENTS CAUSES AND EFFECTS TO ITSELF”. The researchers chose this topic because nowadays, the researchers have noticed that there is an increasing population of irregular students. The researchers would like to know what causes them to become an irregular and the effects of being one. STATEMENT OF THE PROBLEM The main Problem is about the causes and effects of being an irregular student. The study seek to solve the following sub-problems: 1. What is the percentage of CITHM Tourism irregular students? 2. What are the causes that make the Tourism students irregular? 3. What are the effects of being an irregular student to the following? a. Grades/Class performance b. Schedule c. Course Completion d. Financially e. Social Life/Classmates 4. What are the actions being implemented by the college to minimize this problem? OBJECTIVES OF THE STUDY 1. To know the percentage of CITHM Tourism irregular Students. 2. To determine the causes that make the Tourism students irregular. 3. To find out the effects of being an irregular student to the following. a. Grades/Class performance b. Schedule c. Course Completion d. Financially e. Social Life/Classmates 4. To know the actions being implemented by the college to minimize this problem. BACKGROUND OF THE STUDY (Discuss the significance of the study, how the study contributes to existing knowledge, social relevance of the study...
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...sampling Cluster sampling is a sampling technique where the entire population is divided into groups, or clusters and a random sample of these clusters are selected. All observations in the selected clusters are included in the sample. Cluster sampling is typically used when the researcher cannot get a complete list of the members of a population they wish to study but can get a complete list of groups or 'clusters' of the population. It is also used when a random sample would produce a list of subjects so widely scattered that surveying them would prove to be far too expensive, for example, people who live in different counties in the Country. Advantages One advantage of cluster sampling is that it is cheap, quick, and easy. Instead of sampling the entire country when using simple random sampling, the research can instead allocate resources to the few randomly selected clusters when using cluster sampling. A second advantage to cluster sampling is that the researcher can have a larger sample size than if he or she was using simple random sampling. Because the researcher will only have to take the sample from a number of clusters, he or she can select more subjects since they are more accessible. Disadvantages One main disadvantage of cluster sampling is that is the least representative of the population out of all the types of probability samples. It is common for individuals within a cluster to have similar characteristics, so when a researcher uses cluster sampling, there...
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...Definition of Terms Target population * the population we want to study Sampled population * the population from where we actually select the sample Sample * these are the elements from the sampled population who are actually selected to participate or to be the subject in the study Sample size * Total number of elements in the sample SAMPLING * the process of selecting a small number of elements from a larger defined target group of elements such that the information gathered from the small group will allow judgments to be made about the larger groups SAMPLING TECHNIQUES * PROBABILITY SAMPLING a method of selecting a sample wherein each element in the population has a known, nonzero chance of being included in the sample. Simple Random Sampling a probability sampling method wherein all members of the population have equal chances of being included in the study. When to use: * If the members of the population are not so spread geographically. * If the members are homogeneous with respect to the characteristic under study. Systematic Sampling probability sampling method wherein the selection of the first member (random start - r) is at random (using simple random sampling) and the selection of the other members in sample is systematic by successively taking every kth member from the random start, where k is the sampling interval. When to use: * If the arrangement of the members is according to magnitude...
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...1.12 What is the difference between a sample and a population? In most studies, it is difficult to obtain information from the entire population. We rely on samples to make estimates or inferences related to the population. Population means the population of the whole area. Sample means a sample of people taken out of the population to be tested or studied. 1.13 What is the difference between a statistic and parameter? The difference between parameter and a statistic is that a parameter is a number obtained by calculation from a population while statistic is a number calculated from a sample. A statistic is usually used to estimate a parameter. 1.22 A Gallup poll indicated that 74% of Americans who had yet to retire look to retirement accounts as major funding sources when they retire. Interestingly, 40% also said that they looked to stocks or stock market mutual fund investments as major funding sources when they retire. (data extracted from D.Jacobs, “Investors Look Beyond Social Security to Fund Retirement,” www.gallup.com, March 28, 2011). The results are based on telephone interviews conducted March 24, 2011, with 1,000 or more adults living in the United States, aged 18 and older. a. Describe the population of interest. They are the Americans that have not retire yet. b. Describe the sample that was collected. They are the 18 and older group of adults. c. Is 74% a parameter or a statistic? Explain. It is a parameter...
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...INTRODUCTION Definitions Each country has its own currency through which both national and international transactions are performed. All the international business transactions involve an exchange of one currency for another Scope of the study * The study can help in analyzing Growth in currency derivatives. * Companies are looking to get a competitive edge * Quick returns are possible for short term profits in currency derivatives * Future growth of currency derivatives OBJECTIVES OF STUDY * OBJECTIVES OF THE STUDY The basic idea behind undertaking Currency Derivatives project to gain knowledge about currency future market. * To study the basic concept of Currency future * To study the exchange traded currency future * To understand the practical considerations and ways of considering currency future price. * To analyze different currency derivatives products. Limitations of the Study Every study is bound by limitations and as such this is no exceptions. 1. The analysis was purely based on the secondary data. So, any error in the secondary data might also affect the study undertaken. 2. The currency future is new concept and topic related book was not available in library and market. 3. Confidential matters were not disclosed by the company. 4. There were time constraints. Existing & proposed product Produts and services 1.Equity Trading The best way...
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...size of research population, it is not feasible to test all the individuals of the population since it will take too much time and will be expensive as well. So the researchers take few individuals from the research population ( a subset of the set of target population) using sampling techniques. These techniques helps to take out sample as per the requirements of the type of research that is to be conducted. A research population is also known as a well-defined collection of individuals or objects known to have similar characteristics. All individuals or objects within a certain population usually have a common, binding characteristic or trait. Usually, the description of the population and the common binding characteristic of its members are the same. "Government officials" is a well-defined group of individuals which can be considered as a population and all the members of this population are indeed officials of the government. There are various sources from which a sample is created. A set of all these sources is called a Sampling frame from which the sample is selected. With the help of sampling frames, researchers are able to select the sample population from the target population that will be tested for the research or survey. A sampling frame should have the following characteristics: Completeness: A frame should be complete in a sense that all the individuals of the target population should be covered in the frame. In case we are...
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...Simple Random Sampling is done when every individual subject in the population has an equal chance of being selected for the sample, without any bias (Explorable). For example, if a researcher wants to represent the population as a whole, they can pick random numbers or names out a hat or use a program to randomly choose names so the information is not biased. Stratified Sampling is performed by, dividing the population into at least two (or more) groups or sections, which share certain characteristics, called “strata” (Explorable). For example, a researcher who wants to compare the average economic status of different racial groups may use this technique in order to divide the population into groups based on race and ethnicities and then compare the whole average from each ethnic group. Cluster Sampling is done by dividing the population into separate sections or “clusters” and then picks a cluster randomly and chooses all the members from those clusters for the sample (Explorable). For example, using a geographical cluster, in order to look at the academic performance of students. The researcher can divide Nassau County in Long Island into clusters based on the towns. Then, randomly select a certain number of these clusters or towns and include all the students from those clusters to be part of the sample. Systematic Sampling is performed by, using and selecting a point at which to begin and then selecting every x number after that point (Explorable). For example,...
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