Question

The questions it comes like this and the course is LEGAL & ETHICAL ENVIRONMENT OF BUSINESS. I hope this helps.

1. 2. 3. Other than cost, a main benefit that Negotiation has over a Trial is: Partnership agreements should address the following issues to avoid long term problems: Contracts that are terminated as a matter of law or public policy are considered: To determine if a statement was an offer, the courts would use: Which of the following are elements of both fraud and misrepresentation: 4. 5.

Answer 1

1. Other than cost, the main benefit of negotiation over a trial is that in some cases it enhances the relationship between the parties once an agreement has been reached between them and it may reduce the delays of the trial. Thus, it also helps in saving of the rime.

2. In order to avoid long term problems, partnership agreement should address the following issues:

a) It should clearly define the ratio and proportion of investment and the profit and losses that each partner is going to share.

b) It should include all the considerations associated with the authority of all of the partners in the business

c) It should include which partner can enter into contract with the third party and up to what extent.

d) It should clearly specify who would be involved in the liabilities if any of the partners go beyond the agreement.

e) It should also include how the partner could exit from the business and how business would be dissolved.

3. contract that are terminated as a matter of law or public policy are considered to be invalid if it results in a breach of law, harms citizens, or causes injury to the state.

4. To determine if a statement was an offer, the court would use mutual assent document signed between both the parties.