Law case Essay Example | Topics and Well Written Essays - 1500 words

Law case - Essay Example Beth's profits fell alarmingly. Beth advised Morris that financially she could no longer continue with the agreement and would have to close the business. Further, she accused Morris of knowing that the competitor was about to open up and therefore she was commencing legal action to rescind the contract based on fraudulent misrepresentation. Morris contacted Beth and made the following comments: "I absolutely deny your accusation. By my reckoning you still owe me $55,000. However, if you continue with the agreement I'll reduce that amount to $35,000." Beth accepted the deal. Six (6) months later Beth landed a huge contract laminating all the posters for a chain of tourist attractions along the north coast of New South Wales. Beth's profits have soared. Morris is now demanding that the original contract price be complied with (i.e. Beth pays the remaining $55,000). This discussion is going to specifically deal with what a valid contract contains, because if these elements are essential to determining a valid contract. This is done from a sale of goods perspective; however the basics are the same whatever the type of contract. Finally this discussion will stress the importance of these elements and the necessity for all three, i.e. agreement, consideration and intention, to be present or the contract is void or voidable. The first element that will be dealt with is the notion of agreement between the seller and the buyer. This element contains the ingredients of offer and acceptance. The notion of a valid offer has to be distinguished from a mere invitation to treat, for example goods in a store on display is a mere invitation to treat and an offer happens until the buyer takes the goods to the sales person and it is the discretion of the sales person to accept the individual's offer to buy. The sale of goods concerns a bilateral agreement whic h consists of an exchange of promises, i.e. Item on sale for 10.00 (Invitation to Treat); Item taken to till which equates to - I will buy this item for 10 pounds (Offer); 10 pounds asked for by sales person (Acceptance); hence important with the sales of goods, when it comes to the standing of an advertisement or goods display or the communication of acceptance because there has to be an exchange of promises as opposed to the offeror alone making a promise and the acceptance is the act that the offeror has promised to pay for (unilateral agreement), i.e. rewards for lost items returned to the offeror. Therefore the sale of goods concerns a bilateral agreement, where two promises are exchanged as the offer and acceptance. An offer is a clear promise to be bound, as long as terms are accepted. A valid offer must be clearly communicated by writing, mouth or act in order to allow the other person or group of persons1 to decline or accept. In relation to sales of goods there is no requi rement for the agreement and offer to be in writing, as with the sale of property; however the offer has to be certain in its terminology and must be clearly distinguishable from an invitation to treat. In respect to certainty of terms both parties must make their intentions clear, as the courts will not enforce a vague agreement2 or an incomplete agreement3; in addition it has to be more than a wish to enter negotiations, which the individual does not want to be bound (invitation to treat)4. Therefore the elements of a valid

Strategic fit analysis of Gilbert sports Equipment Company Essay

Strategic fit analysis of Gilbert sports Equipment Company - Essay Example Strategic fit analysis of Gilbert sports Equipment Company However, when the rules of Rugby and thereby rules regarding ball shapes and sizes got formalized in the early part of the 20th century and with availability of Rubber bladders, Gilbert Sports Company started making the modern Rugby balls. Although, the company changed hands quite a few times, the company continued to modernise and update the quality of the balls through the second part of the 20th century particularly during the 1980’s and 90’s. It was during the same period, they developed the first range of balls for Netball. However, it fell into the debt trap in 2002, and so it was acquired by another sports equipment maker, Grays of Cambridge in the same year. It continues to function with a lot of autonomy and even diversified into other product segments, with Grays of Cambridge ‘stewarding’ it. Thus, after rising from the internal crisis in 2002, Gilbert under Grays ownership has been able to consolidate its position. However, there are certain fact ors in its macro and micro environment, which could impact as well as influence its functioning. Market Environment Analysis Certain factors in the external environment as well as in the ‘immediate’ external environment will always influence the functioning and the strategies formulation of any organizations in the sport equipment manufacturing sector. Gilbert is no exception to it, as it can be controlled by the factors in the macro-environment, and also by factors in the micro-environment. Both these macro and micro factors can be collected and assessed in a detailed manner through certain analytical tools. The macro environment of Gilbert can be assessed through PEST analysis, while its micro-environment can be analyzed through Porters’ Five Forces. PEST Analysis Political When one focuses on the political factors in Gilbert’s external environment, the UK government can play both a regulatory and constructive role. Regulatory role in the sense, governme nt with its regulations on quality, advertising, pricing, etc., influences the production processes of sports equipment companies including Gilbert. Constructive role in the sense, the UK government through programs like Schools Sports Partnership provide funds to schools to buy sports equipments and construct other infrastructures, so the children can have an active lifestyle with good fitness levels. Although, the UK government had â€Å"plans to end funding for the Schools Sports Partnership program, it was forced to back down as a result of pressure from top athletes, educators and school children themselves.† (caloo.co.uk 2011). Economic The economic aspect of the UK Sports Equipment manufacturing and retail market shows a positive picture, because it â€Å"is valued at US$4.1 billion and grew at a CAGR of 4.19% for the period 2004-2008.† (Reportlinker 2009). However, with the British economy showing little signs of full recovery from the 2008 economic recession, and threatening to go into recession again, the prospects of these sport equipment manufacturing organisations could also suffer. â€Å"Bank of England policymakers agree that Britain's stalled economy will fail to pick up in the current fourth quarter, according to minutes of their last meeting published on Wednesday.† (AFP 2011). If this situation continues, there could be lack of readily available finance options because of credit crunch, and this will make the consumers cut back on their non-essential