A is a certified public accountant. He agrees with B, a building contractor, that he will advise B on setting up a new accounting information system if B, in return, will carry out some renovation work at the house of A’s girlfriend, Fanny. But finally, B refuses to carry out his original promises. Fanny is very anxious to ha ...continues
Agency law and business entities
What is the relationship between agency law and the different types of business entities?
Pros and cons of pursuing litigation vs binding arbitration
What are the pros and cons of pursuing litigation versus binding arbitration?
Bilateral and Unilateral Contracts
Just need to understand what distinguishes a Bilateral contract from a Unilateral contract. Would appreciate any insight in this issue please.
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 unpriced 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 con ...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
