you need them. 1. Can Big Bank’s president rescind the contract? Under what circumstances can a contract be rescinded by either party? What facts have to be alleged and proven? What is the result of a contract that is rescinded? 2. Big Bank’s president also threatens legal action. What potential causes of action could you foresee him bringing in court? Would he be successful? Why or why not? What arguments could Systems Inc. raise in its defense? What are Big Bank’s potential damages?
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Can Big Bank's president rescind the contract? Yes, but this is an involved process and both parties need to agree to modify it. This is because both parties had problems fulfilling their parts of the contract. Also, an organization (the Big Bank) can cannot eradicate the business contract, because since their party did something improper (that seems to be them whom input the data incorrectly). Under what circumstances can a contract be rescinded by either party? This can happen when an offer to
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Big Bank’s president also threatens legal action. What potential causes of action could you foresee him bringing in court? Possible causes for Big Bank legal action: Misrepresentation “Data processing systems were the fastest around” “Systems Inc. never missed a deadline” When one party to a contract is not given full or accurate information by the other party about the contract subject matter, misrepresentation occurs. In the case of misrepresentation in the formation of a contract, the
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------------------------------------------------- Top of Form Week 4: Contracts and IP Issues - C: You Decide Group C Project Thread Begin answering the project questions here. | Responses Responses are listed below in the following order: response, author and the date and time the response is posted. | | Response | Author | Date/Time | | | | Contracts and IP Issues - Question # 1 | Julie Hicks | 11/19/2012 5:30:48 AM | | | I have tried to go through the case and answer the 1st question
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Double coincidence of wants, e.g. you have a horse you want to trade, and you want a cow—now you need someone who has a cow, and wants a horse. Depreciable commodities (2) Store of Value Money may be used as a store of value. Not all stores of value are money. (3) Unit of Account Unit in which prices are stated and accounts maintained. (4) Statement of Deferred Payment Measure of what must be paid in long-term transactions like loans and annuities. What is Payment Systems? Concerned with
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Students Posts 41 Pages Keller Class in this thread we will seek to address essentially corporate citizenship. In other words, when the necessity from help arrives and your organization is the only organization that has what can deliver the society in which you operate in from peril, what do you do? In your discussion of the Bayer problem you will find yourself balancing and wondering, how do you overcome some of the barriers of doing the right thing from the corporate perspective? In the fall of 2001
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Students Posts 41 Pages Keller Class in this thread we will seek to address essentially corporate citizenship. In other words, when the necessity from help arrives and your organization is the only organization that has what can deliver the society in which you operate in from peril, what do you do? In your discussion of the Bayer problem you will find yourself balancing and wondering, how do you overcome some of the barriers of doing the right thing from the corporate perspective? In the fall of 2001
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