Employment contract

Cost reimbursement is another alternative contract in which the contractor is reimbursed for the actual cost and fixed costs which incurred for the work .Cost-reimbursable contracts might be used for the projects in which the general scope and nature of the work are defined, but there is uncertainty in quantities or execution. This type of contract is risky for client because under cost-reimbursable contracts, all uncertainties in the scope of project are incurred by the client and the final…

elements, value and exchange which decide whether the consideration is valid or not (Beatty & Samuelson, 2013). To have value, both parties must get something of value from the contract that is able to be measured (Beatty & Samuelson, 2013). In the case of Kim v. Son, Son was not getting anything from the contract of measurable value. Son was going to try to repay Kim back the money that…

Chapter 10 is entitled Making Rational Decisions in Negotiations and is said to outline the framework for a rationale two-party negotiation. It looks to improve your outcomes as the primary negotiator and improve the outcomes for all parties involved in the negotiation. Economists were the first to give advice in this area and the most effective is game theory which is mathematical models to look at potential outcomes in multi-party negotiations, if all involved act rationally. It is the most…

payment mechanisms in public-private partnerships projects, it is useful to start briefly with some definitions of P3 term. Indeed, P3 can be defined as a long-term contract to provide a public service or maintain a public facility, such as highways, hospitals, and bridges, between the private sector and the government entity . In this contract, the private sector will be taking the risk and the responsibility to maintain, operate, and manage the public facility at high-performance level.…

Requirements of a Legally Binding Contract under English Law Under English law, a legally binding agreement is a contract among two parties for prerequisites related to services or exchange of goods. A contract is intended to make legally bind so that further proceedings of courts could be executed in future if necessary. In this situation, the contract will be an enforceable contract, which is defined as a contract in which one party is legally obliged to perform their actions for other party…

Introduction G.S Adam Junior and Bruce B. Bickham met on the 23rd day of January 1974 and struck a deal for Bickham to transact all his businesses with the bank while in return the bank was to; a) Immediately stop charging service charges on Bickham’s demand deposit accounts effective January 24th 1974 b) Lend money to Bickham and his corporations at the rate of 7.5 percent per annum c) Give Bickham and his corporations loans of a maximum of $500,000.00 d) Grant Mr. Bickham a ten year loan…

Ashley on behalf of Gridiron Association (GA), if there is a binding contract between the two parties. There are essential elements which must be satisfied for a binding contract to exist including agreement, consideration and intention to create legal relations. Agreement Offer and acceptance analysis may be used to show agreement. An offer is a statement of intention by one party to be bound by certain terms of the contract without further negotiation. Whether a statement is an offer is…

Situation (a) 1. In this case, Brock Lesnar as a member of the audit team has a borrowing guaranteed by the audit client - Richardson which is not a bank or similar institution, then according to APES 110. 290.120, a self-interest threat is created. In accordance with APES 110.290.120, if a member of the audit team accepted a loan which is guaranteed by an audit client that is not a bank or similar institution, the self-interest threat to independence would be so significant that no safeguards…

Issue 1: Duty of Care The first issue involved in Michelle and Rebecca case is, did Michelle the defendant owe the plaintiff Rebecca duty of care under law of tort when Michelle offered Rebecca a ride home when she was drunk. Duty of care is referred to the legal responsibility which is compulsory to any individual that requires the reasonable care when performing any act that could direct or indirectly harm others. An essential element of duty of care is foreseeability. Rule 1 In relation…

Chinese Fireworks Industry The purpose of this analysis is to provide Jerry Yu with a recommendation on weather or not he should take his family up on their offer to invest in the village’s fireworks factory. The aim will be to conduct a Porter’s Five Forces analysis in order to determine the attractiveness of the industry. In addition, I will conclude weather this industry is in fact a “sunset” industry that is unlikely to return on Mr Yu’s investment in the long term. There is a vast threat…