Management Assignment(LAW) Essay Example | Topics and Well Written Essays - 1000 words

Management Assignment(LAW) - Essay ExampleCharles Fried stated that persons entering into a postulate are morally bound to keep it.*4 Therefore, a resolve is equivalent to a written promise to deliver a service or goods in convince for some consideration and fairness in transactions is the goal sought to be achieved in commence law.Traditional nonions of laissez faire have been eschewed in modern contract law. In interpreting contracts and determining their validity, the courts have demonstrate that it is not the meaning a person actually intended to convey but what a credible person would have construed it as, which is referred to as the process of objective interpretation.*5 In order that a contract be deemed valid, the parties to the contract must be clearly specified and the terms upon which the parties agree to conduct melodic line must also be clearly laid out. In the case of Intels suppliers, the contract would thereof exist between Intel and the suppliers, since the engineers are in effect, acting on behalf of Intel and not as independent agents. This would moreover qualify as a bilateral contract since it involves the two parties Intel via its engineers and the suppliers.In purchasing their supplies, the engineers functioning as Intels agents will be deemed to have made an plead for acquire of goods*6, which will not even so be enforceable unless the suppliers have agreed and indicated their agreement through a written contract. An offer which is not communicated to the offerree will be deemed to be invalid or ineffective.*7 Therefore, assuming that Intels engineers have communicated their offer to the suppliers and there is a counter proposal made by the supplier in regard to the purchase price of the goods, this will be deemed to negate the original offer.*8 It is then up to the offerer to all agree with the counter proposal and indicate