Contract law - Coursework Example The paper defines a contract as an agreement between two parties or corporations that creates legally binding obligations and rights as pertains to the concerned entities. Contracts form the bulwark of communication, understanding and conducting business between two entities: individuals, or Business Corporation. Parties to a contract need to be very sure of the requirements of the contract and their stake in the endeavor, otherwise, they stand to lose financially extensively. This therefore means that for a contract to be sound: it has to involve two parties, there has to have been an agreement reached by the two parties and the contract must create legally binding rights and obligations. Litigation against a fellow passing by customer is invalid. To begin with, there is no contract arrived at by Arju and the fellow customer. Law defines their agreement as idem (mind agreement) but not a contract that is legally binding to both parties. This translates that litigation against the fellow customer is null and void. This is since the customersâ€™ information is not reliable and also the fellow customer has no duty of care towards Arju, this shield him from any litigation as a result of the information rendered to Arju and the consequences thereafter.Secondly, Arju cannot succeed in suing the fellow customer for compensation on the basis of caveat emptor (buyer beware). This is affirmed in a court ruling involving Smith v Hughes involving the sale of oats between the litigating parties. The plaintiff exhibited oats for the defendant to sample prior to the actual purchase and the defendant never complained. However, upon delivering the oats to the defendant, the defendant rejected them on the prospect that they were old and the plaintiff sued the defendant for compensation. In an appeal hearing, it was ruled that the seller acted in the best of interest and the buyer should have been aware of the shortfalls of contracts and not blame it on the seller. The court therefore revoked the litigation by the buyer. On this basis, by the fellow customer merely suggesting that Arju purchases the AK 47 water squirt as the ideal power washer, the liability for its non performance did not befall him. Arju should have been more careful and have adequate information on the best power washer and also be aware of the shortcomings of the power washer he was compelled to buy. It is evident that litigation against the fellow customer by Arju would not be successful2. A2. A sales assistant from the home decorating department who assures Arju that the store sells quality equipment, yet he has received over 200 faulty equipments in the past four hours Arju would successfully file litigation against the home decorating department assistant on the basis of misrepresentation. This is since the misrepresentation by the home decorating assistant has the four qualifications for a successful compensation to Arju as will be outlined. To begin with, the misrepresentation was a statement. This statement is classified as a half truth as held by Lord Justice James in Arkwright v Newbold3 where he asserted that even if everything previously said is true but some information id left out, it qualifies to a false statement and consequently to misrepresentation. Even where the participants in the negotiations have no direct relationship with each other,
Analyze the Capital Cycle (healthcare related) - Assignment Example
There are two components of a capital structure. The first comprises of strategic planning and implementation, while the second comprises of the development of supporting infrastructure which include financial planning, capital structure and capital allocation. The importance of a financial plan to an organization is that it places the organization in financial equilibrium position, which defines its organizational capabilities. The financial infrastructure plays an important role in giving integrity and momentum to the capital cycle. Capital structure on its part looks at the questions relating to the financing of the organization, which is best described as a combination of debt and equity that seeks to finance the strategic plan. Capital allocation should be done in consideration with the best practices that relate to financial objectives and policies, review of the project and the approval of the capital expenditures of the organization. ...
Poplin (2011) observes that capital capacity has significantly reduced the hospital capacity, and defined the amount of capital available to the organization for funding both the routine capital requirements and the strategic plan of moving forward. Feasibility and impact of improved operating performance shows that organizations geographically located in markets that do not expect to experience organic growth have difficulties in closing the gap between projected sources and the application of finances over that time horizon. Strategic position and viability of strategic plans cautions executives to look closely at the strategic plans in line with the current financial plan. Some strategies may have to be extended to a later date while others may require some urgency in implementation. According to Coss (2009), labour efficiency in a healthcare institution is an important factor in the capital cycle. However, it is difficult to access individual workerâ€™s productivity of the organization. In case it has to be done, a desired understanding of what defines a desired output is put into consideration. Healthcare investments that are aimed at improving the efficiency are increasing being considered by organizations. The various processes that are put into more focus include the workflow analysis, workplace architecture, product design, and information technology. The major difference is vested on the persons involved in the purchase of equipment and the actual users of the equipment. Different sets of purchasing and marketing motivators affect the purchasing decisions of high ranking decision making officials in a different way than those who regularly put the equipment to
Write something about yourself. No need to be fancy, just an overview.