CHECK THESE SAMPLES OF Terms of a Contract
It seeks to unveil the steps involved in entering into a contract.... a contract is a legally binding agreement between legal persons for an exchange of services and goods that are of value.... Using a contract in business transactions binds the engaging parties to abide by the terms as nonperformance of the responsibilities as per the requirements of the contract may lead to a lawsuit and payment of damages.... For there to be fewer conflicts in the business world, there has to be generally accepted terms of engagement....
8 Pages
(2000 words)
Term Paper
Many contractual parties are unable to determine their obligations and even rights when implied Terms of a Contract are in contention.... The paper "Implied by Law" presents that pertinent issues of a contract include the rights and obligations of the contractual parties, which are contained in the terms of that particular contract.... It is however difficult to contemplate and expressly state all the contingencies in a contract due to intricacies involved in various cases....
6 Pages
(1500 words)
Term Paper
Thus, when there are serious doubts about the economic environment's stability for prices of labor and materials used by small contracting firms during the period of performance of a contract, it is eminent all pre-defined contingencies subject to fluctuations are measured and determined (Stanberry, 2012).... The fixed-price contracts EPA allow for pre-determined adjustments to contract rates or terms, which are reliable and standardized indices based on e.... Thus, small business owners can take advantage of favorable economic conditions to make supernormal profits when price adjusts upward by negotiating high terms for the ceiling of the contract price and negotiating low base level prices during adverse economic conditions....
1 Pages
(250 words)
Term Paper
The author of the "Damages in Torts and Breach of Contract" paper states that damages on breach of contracts and torts are similar in terms of the intent of the law to compensate the aggrieved party for losses incurred due to the wrongful act of another.... nbsp;… The defense of good faith and “force majeure” is valid in cases of breach of contract.... Although both are premised on an “invasion of a legal right” there is a marked difference in the elements constituting the invasion of the right differs between a breach of contract and torts....
7 Pages
(1750 words)
Term Paper
nbsp; To understand the various rights and responsibilities of the shipper, the consignee, the cargo owner and the carrier it is necessary to understand when title to goods passes under a contract of sale and in particular when risk in the goods passes.... a contract of sale is not only the contract whereby goods are transferred for a price but may also be the agreement to transfer goods for a price at some later time or under some particular term or condition....
14 Pages
(3500 words)
Term Paper
Moreover, both the countries prohibit minors from signing a contract.... Persons who sign a contract on behalf of minors should take the responsibility of any consequences occurring from the contract.... Larson (2003) has mentioned that a contract intends to formalize an agreement between two or more parties, in relation to a particular subject.... Contracts may include a variety of matters including the sale of goods or real property, the terms of employment or of an independent contractor relationship, the settlement of a dispute, and ownership of intellectual property developed as part of a work for hire (Larson, 2003)....
11 Pages
(2750 words)
Term Paper
This research paper, 'Importance of Contract Formation', presents a clear view of what are the essential forming elements of a contract and what would be the consequences of not considering, or missing any of these elements.... The formation of a contract becomes very significant.... That is how, the formation of a contract, with its essential elements, becomes very significant.... It could be oral, in writing, through electronic means, or a combination of one or more of these means of a contract....
5 Pages
(1250 words)
Term Paper
For the case of IOC One, one of the key issues that will be vital is selecting and recommending a contract type for the maximization of financial and operational performance.... However, there are several types of contracts that can be recommended for use and they will be described in the paper "Contracting and Procurement - contract Types Recommended".... hellip; Project managers must understand that there is a substantial need to have the required knowledge on contract management before choosing the best type of contract....
13 Pages
(3250 words)
Term Paper