Invitation to treat

Qantas, like other Australian companies will have to shift to AASB 15 regulations when they come into effect in 2018. The regulations set guidelines for recognition of revenues. Indeed, it requires that revenues are recognized in a way that it is representative of goods/services that an entity has promised to transfer to consumers on basis of values that reflect the entity’s expectations in return for the goods/services supplied. a) Outline how companies are required to account for revenue…

1. Name three specific cyber issues that have necessitated new laws. 1) Credit card fraud. 2) Cyberstalking. 3) Theft of intellectual property and Identity theft. 2. What are the elements required to form a contract?  Offer and acceptance: • Offer must be specific, complete, capable of acceptance and made with the intention of being bound by acceptance. • An acceptance is a final and unqualified expression of assent to an offer that is made in response to an offer and corresponds with the…

Homework Assignment #2 1. Case 8.1 “Unilateral Contract” The "Pioneer Trail Ultramarathon" had an advertised prize of $10,000 but Rocky reserved the right to change the terms of the race at any time. Although his actions are shady and deceptive in my opinion, there was not a breech of contract. His decision to change the prize from $10,000 to $1,000 was within the rules stated in his legally enforceable unilateral contract. 2. Case 8.2 “Intention” Sullivan merely stated he would not take…

While it is easy for one to give up on their goals and move on, one can truly show strength by conquering the various challenges on their way to success. Homer’s, The Odyssey, is able to depict how persistence can lead to fulfillment. Homer’s purpose in the epic poem The Odyssey is to show society that though there are setbacks in life, one can overcome them with perseverance by employing katabasis by emphasize the various struggles Odysseus faces. Homer utilizes katabasis initially to…

1. (a) Going through Naiker’s case, we will be concluding if there is an enforceable contract or there is not an enforceable contract. In Naiker’s case, Ahmad is the offeror and Naiker himself is the offeree. Basically, Naiker somehow developed an interest in playing the piano, and he wanted to purchase a second hand piano for learning purposes. Ahmad knew about it and he decided to post an offer by letter to Naiker to sell his piano on Monday 2 June stating, “Good quality piano for sale $2,500.…

Introduction The major issue of the case was (1) whether there was a constructive trust and (2) whether the certainty of interest in the property justified its existence. This was the first case to apply the principles laid down in Cobbe v Yeoman’s Row Management Ltd, distinguishing interest pursuant to formal written agreements from interest in property. In addition, Mr. Justice Morgan in Herbert (para 91) touched on the topic of certainty in constructive trust and in contract. This case…

Rehaf AL Sehli Getting to Yes, Fisher and Ury. pp. 1-106 Principals of negotiation according to Roger Fisher and William Ury are: Chapter I: The Problem 1- Don’t bargain over positions Taking positions between parties could provide an anchor in an uncertain and pressured situation which leads to an acceptable agreement. Positional bargaining fails to meet the basic criteria of producing a wise agreement if agreement is possible, efficiently and amicably. There are some methods of why…

Abstract: Contract is an agreement enforceable by law. An agreement consists of two important things, offer and acceptance. Offer and Acceptance is a conventional approach in contract law which is used to decide when an agreement exists between two parties. In order to form a contract, there must be an offer by one person to another and an acceptance of that offer by the person to whom is made. Acceptance in order to be legally binding, it is appropriate to fulfill three main rules. To start…

This essay seeks to discuss the Doctrine of Promissory Estoppel and the Doctrine of Consideration, as well as a clear analysis, with the use of case law, how Promissory Estoppel has become an exception to the general principle that a promise may only be enforced if it is supported by good consideration; it will ultimately conclude whether or not a promise to accept a smaller sum in discharge of a larger sum, if acted upon, is binding notwithstanding the absence of consideration. A contract is a…

The given question has dealt with the area of private express trusts under which one must consider whether the question represent the constitution and three certainties. In order to consider the given issue as a private trust we must first consider whether it fulfills the requirements of creating a trust. Which can be acquired by considering various requirements such as capacity, formality, legality and public policy etc. When considering what is the impact of equity ; general…