Reasons why it is preferable to put contracts in writing? What are these reasons? Please explain if possible.
It is my belief (and I could be wrong) that a contract is not valid and a company is not liable if the contract was signed by an employee who did not have the authority to enter into a contract with a third party, i.e. a switchboard operator signs a contract for a cleaning service. What law, if any, absolves the company from li ...continues
Government [U.S.] & Commercial Suppliers -
3) An unpriced change order is issued. If the specific-cost-method of calculating an equitable adjustment is used, what would the contractor be compensated for? [A] The cost of all expenses incurred in performing the change [B] The additional costs of performance, as estimated by expert witnesses [C] Th ...continues
Determining Violation of either a 'Major Fraud Act' or 'Fraud & False Statements Act'
A contractor receives an un-priced change order on a $500,000 fixed price contract. The contractor incurs $50,000 in additional labor costs in performing the change. In its request for equitable adjustment, the contractor “pads” the claim and requests to be reimbursed for $60,000 in additional labor. To support its claim, the co ...continues
1) What are the four elements of a contract? Discuss each. 2. What is the difference between bilateral and unilateral contracts? Discuss each. 3) When must a contract be in writing? Can a contract for over a year be oral, if not why, and if so what would be required? 4) What is legal capacity? How can it be ...continues
Scenario: Grocery retailier and UCC contracts/supplier contract
Scenario: Grocery, Inc., is a retail grocery store chain based in Any State, U.S.A. Grocery has stores throughout the United States. Grocery has written contracts with many different vendors to purchase the products they sell in their stores. Vendors range from individuals to international corporations. Tom Green works as the pr ...continues
Can you help me understand the questions below. They each made a $10,000 profit so far, but since they've invested some back in to another house depending on the sale of that property the funds could decrease. I'm also not sure what other legal issues are present. Jamie, Louis, and Lisa form a partnership, under a written agr ...continues
Business Law - Every contract has both
1 Which of the following is true? a. Contracts can be classified as either voluntary or involuntary. b. All contracts are legally enforceable. c. The terms of a valid contract become private law between the parties. d. Contract promises are generally not enforced by the c ...continues
Business Law - To create an enforceable contract, which of the following is(are) needed?
To create an enforceable contract, which of the following is(are) needed? a. Agreement b. Agreement and consideration c. Agreement, consideration and contractual capacity d. Agreement, consideration, contractual capacity and a lawful objective 4 The basic concept that both pa ...continues
Which of the following are necessary to meet the requirements of a definite offer?
Which of the following are necessary to meet the requirements of a definite offer? a. Identification of the parties, subject matter, and quantity. b. Consideration to be paid. c. Time of performance. d. A, B, and C. e. A and B only. 6 In order for an offer to be valid, the follow ...continues
