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Contract Creation and Management - Essay Example

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Contract Creation and Management Instructor: Task: Date: Was contract formation achieved in the video? Explain why or why not. How does your interpretation of whether or not Janet is considered an acting agent of the company influence your decision? In the video, of Nature of Agency, several legal problems that occur when having contractual agreements and administering contracts are exposed…
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Contract Creation and Management
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Download file to see previous pages It also shows how serious the leasing contract is being broken. The executives of Quick Takes video are extremely much surprised on learning of the news of the lawsuit. They argue that the contract was not viable since they did not sign it as they are the owners of the company and that they had not authorized Janet, the secretary to sign any contract that was binding them with Non-Linear Pro in the leasing of the equipment. The Quick Takes Videos’ attorney argues that Janet was acting as an agent to the company, and thus the argument cannot work since an agent is permitted to conduct business on behalf of the principal who was away during that time. The executives also try to argue that Non-Linear Pro brought faulty junk equipment and hurriedly gave the secretary the contract to sign. Janet said that she signed the contract because she taught it was a delivery. The equipment that was brought was to be on a trial basis for a month, and then they would sign the lease. That was supposed to be the agreement that was made by the Quick Takes Video executives and Non-Linear Pro. ...
This shows how the Non linear Pro is misrepresenting its equipment and its product in general. The other issue is that the secretary of Quick Takes Video, Janet acted on behalf of the company’s executives in the level of an agent and signed the lease by mistake thinking it was a delivery paper that she signs all the time. She did not take her time to read what was in the paper before signing it. This in turn, is souring up the two company’s relationship and it is making it worse. One of Quick Takes Video executive Hal says that piece of equipment that was supplied by Non Linear was a piece of junk and that the equipment that was brought was supposed to be one month trial equipment and not the real lease. Administering of Contracts In this case, the executives of the Quick Takes Video did not define to Janet on who was responsible to signing off some specific contracts in the company. During creation of contracts and managing them, business owners are supposed to define to their employees on who is responsible for signing contracts that bind the company to legal terms. Quick Take Video should define to Janet on what her authority in the company actually is. She should be told on what contracts she is responsible for signing and which contracts are her natures of signing. In the video, the executive of Quick Takes is to blame since they directed the Non Linear Pro to finish all the arrangements with Janet. They did not however, limit the sales person that specific contractual signing was to be made by the executives alone. This is where the problem arose from. The Non Linear Pro sales person might have thought that Janet had the authority to sign off these contracts. On looking at both companies allegations against each other, they both have strong cases against ...Download file to see next pagesRead More
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