Essentials of Business Law Essay Example for Free

Essentials of Business Law Essay There are many types of contracts made between people, however there are several guidelines to follow for the contract to be valid. A contract is defined as an official agreement which can be written or an oral agreement. A contract is a promise that is made between two or more people and can be formal or informal. There are six elements that make the contract valid, if these elements aren’t present in the contract then it is not considered to be valid. The first element of importance would be that the two parties must have an offer. An offer is the actual promise or agreement that needs to be decided upon because this is what makes the whole contract exist. In order to make a valid offer, there should be at least two people or more so that they can create a legal contract. Then the offer must be accepted by the other party/parties to be a legal valid contract. Both parties must fully be aware of what is being offered as well as what the other party must do in return. Once the offer is made in a contract, the other party must accept the offer. The contract cannot be official without the other party accepting the offer. The other party can accept the offer that is being made by writing or verbally. The next important element in the contract is consideration. Consideration is when the other party gives something back in response to the offer being made. Consideration is anything of value that is given in exchange for goods or services, and is used to induce the other party to enter into a contractual agreement. This makes the contract similar to an exchange between the two parties. In order for a contract to be legally valid, there must be a consideration. Although the Contracts Act 1950 does not state anything on the necessity of the intention to create legal relations, it is considered very important to have this element when making a valid legal contract. This element is an agreement that is not a contract unless it is in the common intention of the parties that it should be legally enforced. Such as an agreement made between two people about belongings that should be inherited after a person’s death. Certainty is another important element in the contract, the guidelines and rules that are made in a contract must be clearly stated and understood by both parties involved in the contract. The agreement must be certain or the contract will no longer be valid. Capacity in the contract is described as the parties in the contract having the legal capacity to carry out the contract. The parties must be at least of the age of 18 or older. Minors or people below the age of eighteen do not have the capacity to enter into a valid contract legally. All types of contracts are different, for example some are long and contain a lot of legal termination while others are written in simple English and are only a page long. Contracts are also used for many different reasons such as for large corporate businesses to personal matters. The many different type of contracts are created for many different purposes such as fix-price contracts, labor contracts, and time- material contracts to name a few. These contracts are created different but they are still required to meet all the expectations of a legal valid contract. References Rogers, S. (2012). Essentials of Business Law. San Diego, CA: Bridgepoint Education, Inc.

Physics of the Turntable :: physics sound music

Have you ever wondered how a record player works? Probably not. After all, who still listens to records? Surprisingly enough, turntables are making a come back. With the recent surge of interest in hip hop music, popular attention has been turned towards the turntable, used by DJs to provide beats, loops and scratching for virtually all of today's hip hop groups. The inner workings of the turntable may seem complex at first but after reading this paper it should become clear that, like all things, the record player works on basic principals of physics. In fact, the turntable is remarkable in that the basic physical principles behind it are quite simple. Some of these will be explored here. Please enjoy your visit. How a record player works is quite simple. A motor is somehow connected to a solid disc so that the disc is rotated at a constant speed. On top of the rotating disc (platter), The record is placed on top, with a slip mat in between. The slip mat can serve two functions. In the past to hold the record in place so that it would not rotate independently of the platter. Now, however, the slip mat serves a much different function. Instead of holding the record in place, the slip mat is now used to reduce the friction between the spinning platter and the record. This way a DJ can scratch (manually move the record, usually at high speeds) the record while the platter continues to spin underneath. Once the record is rotating, a stylus glides along the grooves and picks up the vibrations, these are then converted into audible sound. There are many different models of turntables still being manufactured. Of those being sold, it is possible to divide them into two separate categories based upon their motor system. Virtually all record players being manufactured today have either belt drive or direct drive motors. For the reasons discussed below, direct drives are accepted as the industry standard for professional DJs and turntabilists. Belt Drive - There are two advantages to the belt drive design. The motor in a belt driven turntable is set away from the platter by means of a continuous belt loop. This minimizes vibration to the platter and thus needle skipping. Also, belt drive models tend to be much cheaper than their direct drive counter parts. These advantages, however, do not balance the many short falls of the belt drive design.

Asian Agri and the future of Palm oil Essay

Is Tanoto correct that palm oil has a bright future? Tanoto is correct that palm oil – aka the â€Å"golden corp† of Southeast Asia – has a bright future. It is very economic to be produced, due to its high yield and low cost of production compared with production of other edible oils. With higher economic growth, the demand for food and fuel is rapidly growing in the Asian countries of India and China. So, it is likely that we see a similar positive effect on the demand for Palm oil. Additionally, in today’s world, there are health concerns regarding the rise in the use of trans-fat. This has led consumers and packaged goods to companies limit its use. The increasing health consciousness has would contribute to increased use of this commodity as palm oil is trans-fat free. Furthermore, with increasing requirement for biodiesel, palm oil could well become an important part of the renewable fuel and play a vital role in the energy business. If yes, how should Asian Agri strengthen its position? If no, what should Yeo’s strategy be? If unclear, what could Yeo do to improve the global use of palm oil? I think due to the increasing role that palm oil has to play in the global economy, Asian Agri should strengthen its position in the industry and promote the global use of palm oil. They could do this through: Sustainable Production Asian Agri should aggressively stimulate the use of sustainable palm oil. They can do this by keeping to the set of economic, environmental, legal, and social standards set, in the production process of palm oil. Since sustainability will be an important factor for the company to differentiate itself from competitors and to stay strong in the industry, the company should continue to get all its â€Å"properties† certified as â€Å"sustainable†. They can also train middle managers, supervisors and workers on sustainable palm oil production. Expansion With palm oil demand rising, Asian Agri should continue to expand their plantation size. Although there are visible difficulties to acquire land in Indonesia, the company should not desert their expansion plans. I feel that it will be a good choice to diversify geographically, predominantly to countries in Africa and South America where land is abundant. This helps the company to diversify risk both politically and financially. It makes good financial sense to not put all their eggs in one basket – Indonesia, and good political sense as political instability or riots are a very real possibility in Indonesia. Additionally, by growing its trading and sourcing operations, Asian Agri can derive more value from its market expertise and refining activities. This will help the company to establish direct linkages with its customers at the destination market. This could also help reduce supply chain related expenses for of the company. Marketing and Promotion I think Asian Agri can undertake more marketing and promotional activities, which could help them increase market share. They can play off the fact on health advantages that palm oil has over other edible oils. The point that palm oil is trans-fatâ€Å"` free can be put to good use in the marketing campaign, which will help address increasing concerns of trans fat consumption. They can do this through advertisements, usage of social media, and distribution of brochures that will help educate customers. With projections indicating that global palm oil production would nearly double by 2020, it makes sense that Asian Agri to be proactive in its expansion, marketing and promotional plans. Although we recognize the rising anxiety from environmental NGOs and other challenges, the fact remains that palm oil business has very high potential, given sustainable production and good promotion.

Marketing Plan For Mahindra Xuv500 Essay - 2144 Words

MARKETING PLAN: Purpose of marketing plan: The purpose for building up a marketing plan for Mahindra XUV500 is to set the organization on a particular way in marketing. To begin with and the most imperative reason for existing is to offer solid esteem recommendation for the item. The most ideal approach to start this procedure is by changing the logo and to promote new marketing campaigns. The second motivation behind the promoting strategy concentrates on making Mahindra the market pioneer in the portion of 7-seater SUV by expanding its market share. The marketing objective typically adjusts itself to the more extensive organization targets along with a marketing plan that underscores systems to expand their client base. Realizing marketing offer, expanding client mindfulness, and building a great business picture are a portion of the objectives that can be identified with marketing plan. Following are the things which keeping in mind while the process of this marketing plan report: ïÆ' ¼ Marketing Research ïÆ' ¼ Competition ïÆ' ¼ Market plan strategies ïÆ' ¼ Marketing plan budget ïÆ' ¼ Marketing goals ïÆ' ¼ Monitoring of the marketing plan results Marketing Analysis: According to Marketing plan is a most important aspect for each business plans today whether the business is on small scale or large scale. A Marketing plan includes expressing the goals of the business, after which an appropriate plan is defined to meet the laid out goals. The Mahindra XUV500 has been analyzed in this case, and aShow MoreRelatedCase 11 Mabindra Mabindra B 10337 Words   |  42 PagesCase 11 Mahindra Mahindra (B): An Emerging Global Giant? I have been on record to say that my philosophy of going global is because if you dont succeed abmad or dont have the capacity to succeed abmad and to carve out some turf abroad you are not going to be safe at home [. . .}. If you want to compete with multinationals you have to be a multinational. So that is the logical rationale for going abmad.HI -ANAND G. MAHINDRA, Vice Chairman and Managing Director, Mahindra Mahindra Ltd., in