Agreement may not be necessary

Agreement may not be necessary Disclaimer: This work has been submitted by a student. This is not an example of the work produced by our Law Essay Writing Service . You can view samples of our professional work here . Agreement may not be necessary Every contract is an agreement but agreement may not necessary to be considered as contracts if the agreement does not made in lawful way. A binding contract consists of these four essentials which consist, an offer s.2(a) CA1950, an acceptance s.2(b) CA 1950, consideration s.2(d) CA1950, as well as intention to create legal relations (Adams 2010). On the other hand, (Ayus, 2009,page 197) defined an offer as â€Å"an ‘intimation’, by words or conduct, of a willingness to enter into a legally binding contract, and which in its terms expressly or impliedly indicates that it is to become binding on the offeror as soon as it has been accepted by an act, forbearance or return promise on the person to whom it is addressed†. However, based on the opinion given by Duxbury (1991), an acceptance may be defined as an unconditional assent, which communicated by the offeree to the offeror, to all terms of the offer, made with the intention of ac cepting. It should be noted here that a contract will not be binding unless the parties have expressed themselves with reasonable certainty. 1.0 Issue The issue of this question is about a sale of car for RM30, 000 that advertised in the local newspaper by Ah Chong, whether or not he has a contract with any of the three parties. This question is regarding offer and acceptance whereby offeror signifies his willingness to do something or not to do, with a view to obtaining the consent given from the offeree. 2.0 Law S.2(a) CA1950 defined offeror/proposal as stated in appendix. In unilateral contracts, the party who offers something to offeree/acceptor may not necessary to be an offeror, but an offeree which is stated in s.2(b) CA1950. A contract binds between offeror and offeree by completing communication of proposal, acceptance, and revocation that stated in s.4(1), s.4(2), and s.4(3) of CA1950 respectively. According to s.4(1) CA1950, it stated that: â€Å"the communication of a p roposal is complete when it comes to the knowledge of offeree†. In other word, proposal is effective upon its communication has been communicated to the offeree. When offeree reply his/her acceptance (by email, by post, by hand) to the offeror, there is an official contract exists between the both parties – s.4(2)(b) CA1950. In postal rule, the moment offeree posted his/her acceptance letter into postbox, the contract binds offeror provided that the letter has been placed into the hand of the relevant postal authorities – s.4(2)(a) CA1950. Acceptance must be made within a reasonable time embodied in s.6(b) CA1950. On the other hand, in situation whereby offeree posted an acceptance, it must be certain and fixed based on the condition given by the offeror since the offer contained the element of consideration [s.2(d) CA1950] by offeror and shall not be in the midst of negotiating or bargaining s.7(a) CA1950. Hence, a purported acceptance that is different from the stipulated in the offer would not be an acceptance in law and may end up to a counter-offer. (Nabi Baksh & Arujunan 2005)

Did Credit Rating Agencies do good work (with impact on the Qatari Term Paper

Did Credit Rating Agencies do good work (with impact on the Qatari Context) - Term Paper Example The research will analyze the roles and benefit of CRAs in the last financial crisis of 2007 – 2009. The research will provide evidence of the financial crisis on the credibility and accountability of credit rating agencies. The credit crunch will be explained and also the contribution of credit rating agencies to the financial crisis. The benefit of credit rating agencies to investors is also discussed in the paper. The research methodology and design and reporting and analysis will be dealt with by the research paper. The role of credit rating agencies during and before the financial crisis will also be discussed in the paper. The implication of the financial crisis in the economy of Qatar will be discussed a bit to establish the impact of it is on the people. Contents Abstract 1 Contents 2 Introduction-What Is Credit Rating? 3 Research Objectives 4 Literature Review 4 Role of Credit Rating Agencies During and Before Financial Crisis 6 Credit Ratings Assignment Process 7 Res earch Methodology and Design 8 Reporting and Presentation of the Project 9 Credit Rating Agencies as Coercive Regulators 10 How CRAs Impact On Financial Market Participants 10 Relation between Credit Rating and Agency Problem 11 Implications of Financial Crisis on Qatar’s Economy 12 Conclusion 12 References 13 Introduction-What Is Credit Rating? Crediting rating is a common statement that refers to opinion concerning a debt instrument and its issuer company. It gives an investor a clear indication on whether the debt instrument is safe or risky. It also tells the investor the capability of the issuer company to pay interest and the principal amount in time. However, credit rating is simply an opinion rather than a recommendation and thus does not require an investor to buy or sell an instrument. Currently, global rating is undertaken by several credit rating agencies with the general ones are Standard and Poor’s (S&P), Moody’s Corporation both of whom are based in the USA and Fitch Rating Firm. The above named rating agencies hold the majority of the credit rating share. However, there are more than 100 minor credit rating agencies in the market offering quality credit rating in national markets and industries (Benmelech 2009). Credit rating is usually done by experts who examine various factors and provide the rating is expressed in either alphabetical or alphanumeric symbols. AAA is the highest possible rating as per the S&P agency. High quality credit investment grades are grades AAA and AA whereas grades A and BBB offer medium credit quality investment grades. However, grades BB, B, CCC, CC and, C means that the issuer has a low credit quality and maybe there is no existence of investment credit quality. Grade D is the lowest possible credit rating, and this means that there is no way that the creditor will recover his interest plus the principal amount. According to this credit rating, those companies with AAA, AA, A and, BBB grades p resents less risk and thus most investors will be attracted to invest in them since they have assurance that there will be a gain in their market share. Credit Rating Agencies (CRAs) plays a bigger role in today’s financial markets in Qatar. The rating is normally followed closely by the investors, issuers, borrowers and government’s financial institutions. Research Objectiv

Apple Marketing Strategy analysis Essay Example | Topics and Well Written Essays - 2500 words

Apple Marketing Strategy analysis - Essay Example The firm that is analyzed in the paper is Apple red as giant in the consumer electronics market and its products are considered as one of the most successful and hot selling items. From a mediocre organization to the best firm in the industry, Apple has made tremendous progress in terms of product innovation and service delivery. It started as a computer manufacturing and selling firm however, it has now transformed itself into a consumer electronics manufacturing firm with product range as wide as TVs, MP3 Players, Smartphones and Tablet Computers. Apple started as Apple Computers Inc during 1977 however, Apple rolled out its first personal computer during 1976. Steve Jobs and Steve Wozniak started the company with an aim to manufacture and sell personal computers. As a result of this effort, Apple-1 was introduced during 1976 and Apple afterward continued to build upon its technical superiority and was able to expand its overall range of products. Over the period of time, Apple rem ained under the control of different CEOs however; its glory and success came under the leadership of Steve Jobs – the co-founder of the company who was also later on removed from this position during 1990s. One of the key reasons for the success of Apple as a firm was the leadership style and approach adapted by Steve Jobs. It is argued that Steve Jobs broke almost every principle of leadership and cultivated a new and unique style which allowed Apple to dominate different markets at the same time. Considered by many as dictator and tyrannical, it was the unique vision and micromanagement ability of Steve Jobs which contributed mostly towards the success of the firm (Emerald Group Publishing Limited). It was because of this leadership style of Steve Jobs that the overall culture of Apple evolved as a culture with strong accountability and very clear and swift communication from the top. Most of the decisions were centralized and revolved around Steve Jobs owing to his person al genius and detailed oriented leadership style. Much of the Apple’s culture as well as corporate success was dependent upon the innovative genius of Steve Jobs, his ability to manage everything on his own and enforcement of a strict corporate culture with very little tolerance for dissent and low performance. (Allen) The Mission Statement â€Å"Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.†1 The above Mission Statement of the firm suggests that Apple has been able to dominate four different market niches in consumer electronics industry i.e. personal computers, digital music, mobile phones and mobile media and computing. Though the mission statement seems vagu e but it clearly outlines the current ambitions of Apple and its will to dominate different markets at the same time. Exceptional factors contributing to the success of firm One of the key factors behind the success of Apple was the leadership of Steve Jobs under whose visionary presence; firm was able to transform itself into a giant in consumer electronics industry. Steve Jobs expanded the overall vision for the firm and included other product ranges coupled with effective market strategies which allowed Apple to become number 1 firm in the industry. The leadership and corporate culture of firm helped Apple to enforce strict accountability and create further room for creativity and innovation. Such approach therefore resulted into the development and marketing of products which became hot selling due to their innovativeness and ease of use for end users. Apart from this, Apple’s products are considered as of highest quality and durability along with their ability to offer a complete experience to customers. Apple started its music