This document discusses consideration in contracts and cyberpayments. It defines consideration as a bargained-for exchange between parties where each party provides benefits and suffers detriments. Consideration must involve a legal detriment like doing something one is not required to do or refraining from something one can legally do. The document also discusses issues like adequacy of consideration, bargained exchanges, and exceptions to consideration like promissory estoppel. It analyzes cyberpayment options and security issues in light of EU privacy directives.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Larry McClatchey presented "Keeping the Gold: Successfully Resolving Preference Claims" on November 18-19 at the 2015 Great Lakes Region Credit Conference.
The presentation examined the definition of preference law, preferential transfer, courses of business defense and new value issues in the courts.
Secrets and Scandals - Trends in Partial and Multi-Party Settlements (cle)Burns Logan
Sometimes a dispute cannot be settled completely in mediation. In that case, this presentation shows how you can use partial settlements in multi-party and single party disputes to narrow the dispute through partial settlements.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Larry McClatchey presented "Keeping the Gold: Successfully Resolving Preference Claims" on November 18-19 at the 2015 Great Lakes Region Credit Conference.
The presentation examined the definition of preference law, preferential transfer, courses of business defense and new value issues in the courts.
Secrets and Scandals - Trends in Partial and Multi-Party Settlements (cle)Burns Logan
Sometimes a dispute cannot be settled completely in mediation. In that case, this presentation shows how you can use partial settlements in multi-party and single party disputes to narrow the dispute through partial settlements.
Don Gregory presented "Competitive Bidding" to the Ohio Prosecutor's Association on December 3, 2015.
The presentation examined the requirements for competitive bidding including existing exceptions, bidding thresholds and non-collusive affidavits.
Eric Travers presented "Negotiating Retainage" on January 13, 2015, for the ASA Building for Profit Internet Learning Series. He discussed ways to reduce and eliminate retainage and how to negotiate from a position of strength. Eric also provided tips and examples of how to modify bids to eliminate or disincentive retainage.
Bid Shopping + Bid Peddling: What It Is, Why It Hurts, and What Can Be Done A...Kegler Brown Hill + Ritter
Eric Travers presented "Bid Shopping + Bid Peddling: What It Is, Why It Hurts, and What Can Be Done About It?" at the LMCI/FIF Convention in Las Vegas, NV in December 2015.
The presentation discussed understanding bid shopping and peddling, legal and ethical problems and practical options.
The basics of the loan purchase and sale process is relatively straight forward, but like any transaction, the devil is in the details. Following are eight steps involved in the purchase and sale of loan assets followed by a discussion of the most common pitfalls to avoid throughout the transaction.
Kegler Brown, in conjunction with Overmyer Hall Associates, presented "Bond Claims: How to Make Them + How to Avoid Them" on Wednesday, February 26. This seminar focused on providing bond claim information and insurance updates to subcontractors and general contractors.
"The Nuts + Bolts of Construction Financial Management" was presented by Stephanie P. Union and Peter Berg on September 23, 2015, at the office of Kegler Brown.
The morning briefing covered the nuts and bolts of construction financial management, including, but not limited to, the steps and best practices for prompt collection.
The annual Legal Seminar For Credit Professionals, presented by Kegler Brown in conjunction with NACM – Great Lakes Region and American Subcontractors Association, was combined with an international business and construction legal program. Topics included selling internationally, post-judgment collection, bankruptcy, bids and pay-if-paid clauses.
Navigating the real estate road avoiding pitfalls and potholes march 2015 ssPolsinelli PC
Commercial property developers, owners and brokers know that the road to a successful real estate deal is not always a smooth highway, and some of the twists and turns are more easily handled than others. Obstacles that have frequently led to litigation can provide valuable lessons on how to avoid future bumps. Polsinelli's Real Estate Litigation attorneys address common issues in the real estate industry that have led to litigation, and advise on steps that can be taken in the negotiation, drafting and early dispute processes to ultimately avoid the courtroom.
Presentation materials for my talk on the basics of contract law given to the Canadian-Chinese Professional Accountants Association. It covers some of the basic concepts, and some common terms. I discussed common errors and misunderstandings, and elaborated on different negotiation strategies as well.
Don Gregory presented "Competitive Bidding" to the Ohio Prosecutor's Association on December 3, 2015.
The presentation examined the requirements for competitive bidding including existing exceptions, bidding thresholds and non-collusive affidavits.
Eric Travers presented "Negotiating Retainage" on January 13, 2015, for the ASA Building for Profit Internet Learning Series. He discussed ways to reduce and eliminate retainage and how to negotiate from a position of strength. Eric also provided tips and examples of how to modify bids to eliminate or disincentive retainage.
Bid Shopping + Bid Peddling: What It Is, Why It Hurts, and What Can Be Done A...Kegler Brown Hill + Ritter
Eric Travers presented "Bid Shopping + Bid Peddling: What It Is, Why It Hurts, and What Can Be Done About It?" at the LMCI/FIF Convention in Las Vegas, NV in December 2015.
The presentation discussed understanding bid shopping and peddling, legal and ethical problems and practical options.
The basics of the loan purchase and sale process is relatively straight forward, but like any transaction, the devil is in the details. Following are eight steps involved in the purchase and sale of loan assets followed by a discussion of the most common pitfalls to avoid throughout the transaction.
Kegler Brown, in conjunction with Overmyer Hall Associates, presented "Bond Claims: How to Make Them + How to Avoid Them" on Wednesday, February 26. This seminar focused on providing bond claim information and insurance updates to subcontractors and general contractors.
"The Nuts + Bolts of Construction Financial Management" was presented by Stephanie P. Union and Peter Berg on September 23, 2015, at the office of Kegler Brown.
The morning briefing covered the nuts and bolts of construction financial management, including, but not limited to, the steps and best practices for prompt collection.
The annual Legal Seminar For Credit Professionals, presented by Kegler Brown in conjunction with NACM – Great Lakes Region and American Subcontractors Association, was combined with an international business and construction legal program. Topics included selling internationally, post-judgment collection, bankruptcy, bids and pay-if-paid clauses.
Navigating the real estate road avoiding pitfalls and potholes march 2015 ssPolsinelli PC
Commercial property developers, owners and brokers know that the road to a successful real estate deal is not always a smooth highway, and some of the twists and turns are more easily handled than others. Obstacles that have frequently led to litigation can provide valuable lessons on how to avoid future bumps. Polsinelli's Real Estate Litigation attorneys address common issues in the real estate industry that have led to litigation, and advise on steps that can be taken in the negotiation, drafting and early dispute processes to ultimately avoid the courtroom.
Presentation materials for my talk on the basics of contract law given to the Canadian-Chinese Professional Accountants Association. It covers some of the basic concepts, and some common terms. I discussed common errors and misunderstandings, and elaborated on different negotiation strategies as well.
Contract Formation in the Digital Age - Idene SaamUBA-komitet
Сппільне засіданні Комітету з питань телекомунікацій, інформаційних технологій та Інтернету та Комітету з міжнародного права «Контракти за правом США, Великобританії та Канади: знайомство та типові для ІТ положення»
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
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Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
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Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
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➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
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RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
2. Case Study
• Dougherty v. Salt (1919)
– Elderly aunt writes a note to her nephew promising
$3,000 at her death or before
– Aunt dies, estate won’t pay
– Nephew sues
Should the court uphold the agreement?
11-4
3. Case Study
• Hamer v. Sidway (1891)
– Man promises his nephew that he would pay him $5000 if he
refrains from drinking, using tobacco, swearing, and playing
cards or billiards for money until he became 21 years of age
– The nephew agreed and fully performed the conditions.
– Plaintiff tries to enforce agreement, but defendant won’t
comply, citing no contract due to lack of consideration
11-5
4. Requirements of Consideration
• Consideration
– The mutual promise to exchange benefits and
sacrifices between the parties.
Quid pro quo – something for something
11-6
5. The Nature of Consideration
• A gain by the offeree is a loss to the offeror
• Likewise, the gain bargained for by the offeror
will result in a loss or sacrifice by the offeree
• Mutual benefit and detriment
11-7
6. The Nature of Consideration
• Legal detriment
– the legal term used to describe the sacrifice that each
party must experience
11-8
7. The Nature of Consideration
A legal detriment can be:
(1) doing something that one has a legal right not
to do
(2) giving up something that one has a legal right to
keep
(3) refraining from doing something that one has a
legal right to do (forbearance)
11-9
8. The Characteristics of Consideration
1. The agreement must involve a bargained-for
exchange
2. The contract must involve adequate
consideration
3. The benefits and detriments promised must
themselves be legal
11-10
9. Bargained-for Exchange
An agreement involves a bargained-for exchange
when:
1. a promise is made in exchange for another
promise
2. a promise is made in exchange for an act
3. a promise is made for forbearance of an act
11-11
10. Adequacy of Consideration
• In general, the courts do not look to see whether
the value of the consideration was fair to both
parties
• However, a court may refuse to enforce a
contract or any clause of a contract if it considers
the contract or clause unconscionable
– So ridiculously inadequate that it shocks the court’s
conscience
11-12
11. Case Studies
• Tillman v. Commercial Credit Loans, Inc., 655
S.E.2d 362 (N.C. 2008)
– An unfair arbitration clause in a subprime mortgage
contract declared unconscionable
• Ting v. AT&T (2003)
– A binding arbitration clause in AT&T’s phone contracts
declared unconscionable
11-13
13. Problems with Consideration
• Disputed amount
– one on which the parties never reached mutual
agreement.
• If a creditor accepts as full payment an amount
that is less than the amount due, the dispute has
been settled by an accord and satisfaction.
• Undisputed amount
– one on which the parties have mutually agreed
11-15
14. Problems with Consideration
• Accord
– the implied or expressed acceptance of less than what
has been billed the debtor
• Satisfaction
– the agreed-to settlement contained in the accord
11-16
15. Agreements Without Consideration
Enforceable Agreements
•
•
•
•
•
Promises Under Seal
Promises After Discharge in Bankruptcy
Debts Barred by Statutes of Limitations
Promises Enforced by Promissory Estoppel
Option
11-17
16. Promises Under Seal
• Varies according to jurisdiction
• Seal
– a mark or an impression placed on a written contract
indicating that the instrument was executed and
accepted in a formal manner
• Locus sigilli
– “place of the seal”
11-19
17. Debts Barred by Statutes of Limitations
• Statutes of limitations – laws that limit the time
within which a party is allowed to bring suit.
• The time allowed for the collection of a debt
varies from state to state, usually from three to
ten years
http://www.fair-debt-collection.com/SOL-by-State.html#34
11-20
18. Promises Enforced by Promissory Estoppel
• Promissory estoppel
– legal doctrine that restricts a party from denying that
a promise was made under certain conditions, even
though consideration has not been exchanged to bind
an agreement.
Ex: I promise you a job if you move to California. You
move, but I refuse to give you a job.
11-21
19. Case Study
• East Providence Credit Union v. Geremia (1968)
– Credit Union issues car purchase loan to defendants,
required accident insurance, bank warned that they
will get insurance and bill defendants
– Car wrecked, but bank did not buy insurance
– Court ruled that Bank’s warning was a promise on
which D’s reasonably relied and thus Bank was liable
under promissory estoppel.
11-22
20. Option
• Option
– The giving of consideration to support an offeror’s
promise to hold open an offer for a stated or a
reasonable length of time
– Firm offer (irrevocable offer)
• Must be signed by the offeror, and for a period no longer
than three months
11-23
21. Unenforceable Agreements
• Preexisting Duties
– A promise to do something that one is already
obligated to do by law or by some other promise or
agreement cannot be made consideration in a new
contract
11-24
22. Unenforceable Agreements
• Past Consideration
– A promise to give another something of value in
return for goods or services rendered and delivered in
the past, without expectation or reward
• Promises for Future Gifts
11-25
23. Unenforceable Agreements
• Illusory promise
– One that seems genuine but that on close
examination actually fails to obligate the promisor to
do anything
Ex: I promise to give you all A’s, unless I decide not to.
11-26
25. Cyber-Price and Competition
• The Internet has helped improve the
transparency of the pricing process.
• Consumers can now use the Internet to seek out
competitive prices, thus improving their ability to
set the consideration at a level with which they
are comfortable.
11-28
26. Cyber-Price Shopping
• Some consumers subscribe to several objective
shopping search engines that provide pricing
comparison information.
• Expedia, Travelocity, Orbitz
11-29
27. Cyber-Payments Options
• Credit card, debit card
• European stored value or smart card
• Alternative payment system - PayPal
11-30
28. Cyber-Payment Security Issues
• EU Data Protection Directive along
• with the EU E-Privacy Directive guarantee the
rights of European citizens while, at the same
time, ensuring the smooth exchange of data
among those nation-states that honor the privacy
and data protection standards themselves.
11-31
29. Cyber-Payment Security Issues
• Safe Harbor Principles
– U.S. corporations that are involved with EU
corporations must demonstrate that the companies
themselves will promise to honor the same degree of
protection to data and to privacy as guaranteed by
the EU.
11-32