Contract theory
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Contract theory studies how people and organizations develop legal agreements in uncertain conditions with unknown factors and information asymmetry. It applies to both multi-party negotiations and contracts created by a single entity to specify agreement details. Ideally, a contract specifies all party responsibilities and requirements unambiguously to prevent disputes, but misunderstandings may still occur. Models within contract theory examine risks like moral hazard where a party acts in bad faith by withholding or misrepresenting information. Other models consider adverse selection where one party lacks risk information and signaling where a party conveys qualifying information. Contract theory applies game theory, which analyzes negotiation, conflict and cooperation between entities. Key questions involve why individuals make decisions and how individual decisions impact others.
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Contract theory
Contract theory studies how parties construct contractual agreements in situations of asymmetric information. It represents decision makers' behavior under certain utility structures and aims to motivate optimal actions. Standard models examine moral hazard when actions are unobserved and adverse selection when private information exists. Incomplete contracting research analyzes the effects of inability to specify all future states. Contract theory helps understand privatization costs/benefits and ensures managers act in investor interests. It provides a means to design better agreements and institutions by considering incentive structures.
Protecting Confidential Information When an Employee Leaves-ap
The document discusses protecting confidential information when an employee leaves a company. It outlines that non-disclosure agreements (NDAs) aim to restrict sharing confidential information after employment, while non-compete clauses prevent working for competitors. However, the law around these is complex and varies by state. Courts may modify non-compete agreements to make them enforceable if they are deemed reasonable in terms of restrictions. The best way for companies to protect trade secrets may be through open communication with departing employees regarding stability, compensation, and respect.
Global negotiations
Global negotiations involve balancing cooperation and competition with a foreign partner to achieve both parties' goals. The first steps set the tone and require clearly defining objectives while also considering the partner's needs. Personal relationships and understanding each partner begins the process of relationship building. Sharing information beyond positions allows for a broader agreement with more opportunities that benefit both sides. Contingency plans are important given uncertainties, and dispute mechanisms may be needed to adapt agreements to changing conditions.
Protecting Confidential Information When an Employee Leaves
The document discusses protecting confidential information when an employee leaves a company. It outlines how non-disclosure agreements (NDAs) and non-compete clauses are intended to restrict sharing confidential information and working for competitors after leaving. However, the law regarding these is complex and varies by state. Courts may enforce some portions of non-competes by modifying language but not others based on reasonableness standards of geographic area, duration, and balancing employer and employee interests. Protecting trade secrets ultimately depends more on building stable employment, paying competitive compensation, and showing respect to employees than relying on legal agreements alone.
Mutual non disclosure agreement
The document discusses a mutual non-disclosure agreement (mutual NDA), which is an agreement between two parties exploring a business opportunity to treat any disclosed information confidentially. A mutual NDA prevents the parties from sharing information about their dealings and protects proprietary information shared between them from disclosure. It provides two-way confidentiality protection for both signing parties regarding discussions, decisions, transactions, and other confidential details that occur between them. Mutual NDAs are commonly used when confidentiality is required between companies, firms, individuals, or in other situations like landlord/tenant matters or disputes where privacy is important.
Capacity & Intention in a contract
The document provides an overview of contract law presented by a group. It discusses key topics like the definition of a contract, essential elements, capacity and intention. The presentation aims to help understand contracts and distinguish between valid, void and voidable contracts, including valid infant contracts. Team members are listed and 6 learning objectives are provided on defining contracts and understanding capacity, intention and how they relate.
Contract
A contract is an agreement between two or more parties where one party makes a promise to the other. There are different types of contracts including formal, informal, express, and implied contracts. A contract must have consent, a lawful purpose, capacity to contract, consideration, and compliance with formalities if required by law. Written contracts provide certainty and clarity around the terms of the agreement for both parties.
FOCUSED COLLECTIVE BARGAINING DURING RECESSION
Collective bargaining is a process of negotiation between employers and trade unions regarding terms of employment. It aims to regulate employment conditions at the sector level and provide dispute resolution at the enterprise level. The key parties in collective bargaining are trade unions, employers' organizations, and workplace forums. Collective bargaining occurs through both distributive and integrative styles. Distributive bargaining involves making proposals and counterproposals to reach a compromise, while integrative bargaining focuses on problem-solving. Preparation, opening negotiations, signaling proposals, and packaging agreements are typical stages of the bargaining process.
Recommended
Contract theory
Contract theory studies how parties construct contractual agreements in situations of asymmetric information. It represents decision makers' behavior under certain utility structures and aims to motivate optimal actions. Standard models examine moral hazard when actions are unobserved and adverse selection when private information exists. Incomplete contracting research analyzes the effects of inability to specify all future states. Contract theory helps understand privatization costs/benefits and ensures managers act in investor interests. It provides a means to design better agreements and institutions by considering incentive structures.
Protecting Confidential Information When an Employee Leaves-ap
The document discusses protecting confidential information when an employee leaves a company. It outlines that non-disclosure agreements (NDAs) aim to restrict sharing confidential information after employment, while non-compete clauses prevent working for competitors. However, the law around these is complex and varies by state. Courts may modify non-compete agreements to make them enforceable if they are deemed reasonable in terms of restrictions. The best way for companies to protect trade secrets may be through open communication with departing employees regarding stability, compensation, and respect.
Global negotiations
Global negotiations involve balancing cooperation and competition with a foreign partner to achieve both parties' goals. The first steps set the tone and require clearly defining objectives while also considering the partner's needs. Personal relationships and understanding each partner begins the process of relationship building. Sharing information beyond positions allows for a broader agreement with more opportunities that benefit both sides. Contingency plans are important given uncertainties, and dispute mechanisms may be needed to adapt agreements to changing conditions.
Protecting Confidential Information When an Employee Leaves
The document discusses protecting confidential information when an employee leaves a company. It outlines how non-disclosure agreements (NDAs) and non-compete clauses are intended to restrict sharing confidential information and working for competitors after leaving. However, the law regarding these is complex and varies by state. Courts may enforce some portions of non-competes by modifying language but not others based on reasonableness standards of geographic area, duration, and balancing employer and employee interests. Protecting trade secrets ultimately depends more on building stable employment, paying competitive compensation, and showing respect to employees than relying on legal agreements alone.
Mutual non disclosure agreement
The document discusses a mutual non-disclosure agreement (mutual NDA), which is an agreement between two parties exploring a business opportunity to treat any disclosed information confidentially. A mutual NDA prevents the parties from sharing information about their dealings and protects proprietary information shared between them from disclosure. It provides two-way confidentiality protection for both signing parties regarding discussions, decisions, transactions, and other confidential details that occur between them. Mutual NDAs are commonly used when confidentiality is required between companies, firms, individuals, or in other situations like landlord/tenant matters or disputes where privacy is important.
Capacity & Intention in a contract
The document provides an overview of contract law presented by a group. It discusses key topics like the definition of a contract, essential elements, capacity and intention. The presentation aims to help understand contracts and distinguish between valid, void and voidable contracts, including valid infant contracts. Team members are listed and 6 learning objectives are provided on defining contracts and understanding capacity, intention and how they relate.
Contract
A contract is an agreement between two or more parties where one party makes a promise to the other. There are different types of contracts including formal, informal, express, and implied contracts. A contract must have consent, a lawful purpose, capacity to contract, consideration, and compliance with formalities if required by law. Written contracts provide certainty and clarity around the terms of the agreement for both parties.
FOCUSED COLLECTIVE BARGAINING DURING RECESSION
Collective bargaining is a process of negotiation between employers and trade unions regarding terms of employment. It aims to regulate employment conditions at the sector level and provide dispute resolution at the enterprise level. The key parties in collective bargaining are trade unions, employers' organizations, and workplace forums. Collective bargaining occurs through both distributive and integrative styles. Distributive bargaining involves making proposals and counterproposals to reach a compromise, while integrative bargaining focuses on problem-solving. Preparation, opening negotiations, signaling proposals, and packaging agreements are typical stages of the bargaining process.
Acn ass
This document discusses aspects of contract and negligence law. It explains how contracts are formed by requiring elements like offer and acceptance, consideration, free consent, capacity of parties, and intention to create a legal relationship. There are different types of contracts that can be used, including verbal, written, distance selling, and deeds. Contract terms can be expressed or implied, and include conditions, warranties, and innominate terms. Tort liability differs from contractual liability in that tort deals with harm caused without a contractual relationship, while contractual liability involves harm between contracting parties. For negligence liability to exist, a duty of care must be breached that causes damages. Businesses can be vicariously liable for the negligent actions of their employees.
Ac 10
TAM's College hired a marketing agency, NAMS, to help improve their reputation. NAMS agreed to provide intensive promotion for one month for £2500. However, NAMS stopped the marketing campaign early due to lack of payment. TAM's College sued NAMS for breach of contract. Additionally, a night guard at TAM's College was injured while on duty for not wearing the proper uniform, as instructed. The guard's family sued and won due to the doctrine of vicarious liability, whereby TAM's College was held legally responsible despite not being directly at fault.
Aspects of contract and negligence for business
Law identified with business can be finished up as all the law which applies to the rights,
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Contract Law Drafting ExerciseJuliana Williams, .docx
Contract Law Drafting Exercise
Juliana Williams, Judith Hobbs, Shawn Wilson, Jessica Denton, and Christopher Gilbert
LAW/421
May 9, 2016
CONTRACT LAW DRAFTING EXERCISE
CONTRACT LAW DRAFTING EXERCISE
Professor Alan Williams
1
Contract Law Drafting Exercise
In week 3, Team B decided to examine Intellectual Property contract clauses. Our team is writing about the necessary elements to form a valid contract as well as how to apply a contract clause within a business setting. We will also be summarizing the potential legal defenses available and potential remedies for a breach contract. The clause that we have drafted that could be pertinent to an Intellectual Property contract is as follows:
Contractor shall not use data collected by any means from Owner for any purpose other than that which is expressly outlined in the contract documents herein, for the lifetime of this contract, and any time thereafter, unless written consent has been received by the Owner or his designee. Any changes to leadership, ownership, or principals, must be reported to Owner immediately, as all responsibilities of this contract will be assigned to the new Contract holder, and all responsibilities herein, shall be adhered to as outlined in the original contract documents.
Elements Necessary to Form a Valid Contract
Contract Clause found in Article 1 of the United States Constitution was created to avoid states from interfering with private contracts. With this clause no state should pass any law impairing the obligation of contracts. The clause was made to protect contractors from creditors and debtors. Now the contract clause is there to protect individuals from the intrusion of state government. The contract clause is also a contract made by partnerships and corporations which will include as well vendor contracts and lease contracts.
The foundation of binding agreements that can be forced by the court will require some exigency to be processed. The number of requirements may not be numerous yet they must be met before the rights and duties of the contract can be enforceable by the law. Some of the requirements that can be considered a valid contract would be;
· Creating a legal relationship
· If an offer is being made
· If an individual is accepting or considering the contract
· If an individual has the capacity to a contract
· If an individual is in a state of being in accordance with the law.
Besides these requirements, some contracts must be in writing. It is preferable that a contract should be formatted in an electronic print to be enforceable. If a contract has all of these elements, then it can be enforced by the court.
Legal Issues and How the Contract is Applied to Business Managerial Settings
Rights to intellectual property can be incredibly lucrative, making huge sums of money. Infringement claims have also bankrupted large profitable companies without warning. With so much at stake, anyone dealing with issues in this area of law should seek ad.
Negotiation
Negotiation is a method to settle differences and reach compromise or agreement without argument. There are two main types of negotiation - distributive and integrative. Distributive negotiation involves bargaining over a fixed amount of value, while integrative negotiation aims to create value and find solutions where both parties benefit. Successful negotiation requires preparation, open discussion to clarify goals, and finding outcomes where all sides achieve mutual gains. Various strategies like making multiple offers simultaneously can help negotiations succeed in resolving conflicts to the satisfaction of all parties involved.
Free consent(indian contact act )
This PowerPoint presentation (PPT) offers a comprehensive exploration of the vital legal concept of "Free Consent." Delve into the core principles and significance of free consent in various legal agreements, contracts, and transactions. Learn about the essential elements, factors affecting consent, and real-life case studies. This informative PPT provides a clear and engaging insight into the pivotal role free consent plays in ensuring fair and just legal relationships.
Encyclopedia on commercial contract management
It is common knowledge that contracts are heart and soul of any business activity. A full proof contract requires vast knowledge of the business world, a thorough understanding of drafting knowledge. Commercial contracts form the backbone of many commercial transactions from vendor agreements to client engagement agreements.
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The document discusses key elements of contract formation and negotiation strategies. It covers the nature of negotiation, preparation, distributive bargaining, integrative negotiation, and closing deals. Distributive bargaining is a competitive strategy used when goals conflict and trust is low, using tactics like establishing a strong bargaining position. Integrative negotiation is less competitive and allows parties to find mutually beneficial solutions by addressing underlying interests rather than positions.
Imp collective bargaining levels
Collective bargaining is a process of negotiation between employers and organized workers, represented by their union, to determine terms and conditions of employment such as wages, hours, and working conditions. The goal is to reach agreements that are acceptable to both parties. Collective bargaining helps resolve conflicts, improves understanding between labor and management, and establishes rules governing the workplace. It plays an important role in industrial relations by promoting harmony, regulating employment terms, and allowing workers to protect their interests through their union.
Ac 6
The document discusses a case involving TAM's College hiring a marketing firm, NAMS, to promote the college. TAM's paid NAMS £1500 upfront but NAMS broke the contract terms by missing deadlines. TAM's is suing NAMS to get their money back. Additionally, a TAM's staff member was injured on the job for not wearing proper protective gear as required. TAM's is facing legal penalties due to vicarious liability policies. The document analyzes contract elements, types of contracts, negligence torts, and defenses against negligence in analyzing both legal situations.
A Novel Fair Anonymous Contract Signing Protocol for E-Commerce Applications
With the economy developing and popular Internet, the general concept of contract signing has changed. In the past, people usually sign a contract at the same time and same place face to face, but actually each party involved in contract may live in different part of earth, they want to sign something for business or some other things in economic, efficient, secure and fairway. A fair contract signing protocol allows two potentially mis-trusted parities to exchange their commitments (i.e., digital signatures) to an agreed contract over the Internet in a fair way, so that either each of them obtains the other’s signature, or neither party does. Based on the LUCAS signature scheme, a new digital anonymous contract signing protocol is proposed in this paper. Like the existing LUCAS-based solutions for the same problem, our protocol is fair, anonymous and optimistic. Furthermore, the proposed protocol satisfied a new
property, i.e., it is abuse-free. That is, if the protocol is executed unsuccessfully, either of the two parties can not show the validity of intermediate results to others.
Ethics 4
This document discusses several responsibilities and rights related to employment, including collegiality and loyalty, collective bargaining, confidentiality, intellectual property rights, and discrimination. It provides details on the definition of these concepts, case studies to illustrate them, and how they relate to maintaining professional relationships and standards in the workplace.
Ethics 4
This document discusses several responsibilities and rights related to employment, including collegiality and loyalty, collective bargaining, confidentiality, intellectual property rights, and discrimination. It provides details on each topic, including definitions, case studies, and examples. Collegiality involves respect among colleagues working toward a common purpose. Collective bargaining is a process of negotiation between employers and unions over working conditions. Confidentiality principles protect private information disclosed to certain professionals. Intellectual property rights confer ownership over creative works to their creators.
Unconscionable Contract
Courts use the term "unconscionable" to describe conduct that is either unjust or one-sided to benefit one party more than the other. In contract law, an unconscionable contract is one that no reasonable person would enter into without some very compelling reason. Those who do end up entering into unconscionable contracts tend to be poorly educated, living in poverty, or have been unable to find a fairer agreement elsewhere. Bhanu Prakash Singh Markam"Unconscionable Contract" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-5 , August 2018, URL: http://www.ijtsrd.com/papers/ijtsrd17083.pdf http://www.ijtsrd.com/humanities-and-the-arts/other/17083/unconscionable-contract/bhanu-prakash-singh-markam
TextSeaquist, G. (2015). Employee and labor relations A practic.docx
Text
Seaquist, G. (2015). Employee and labor relations: A practical guide. San Diego: Bridgepoint Education
· Chapter 7: At the Bargaining Table
· Chapter 8: Grievances, Mediation, and Arbitration
7.1 Collective Bargaining
What is collective bargaining, and why is it such an essential right of organized labor? The theory behind collective bargaining is that it reduces the power differential between management and workers, making the relationship more equal; by compelling management to come to the table and meet with workers, there is a significant shift in power. This section sets the stage for the process of bargaining. It explores what it means that unions are the exclusive representatives of their bargaining unit and reviews the three classifications of bargaining subjects: mandatory, permissive, and illegal.
The Principle of Exclusive Representation
In Chapter 4 we saw that a first step of unionization was for workers to identify who should be a member of the bargaining unit. Once that was established, workers in the designated bargaining unit signed authorization cards, and if at least 30% of the workers voted to unionize, the process of moving toward an election could begin. If the prerequisites were met and an election took place, the National Labor Relations Board (NLRB) certified the union, which meant it then became the exclusive representative of that bargaining unit.
Exclusive representation is an important concept that is found in Sections 8(b) and 9(a) of the Labor Management Relations Act of 1947. Those sections explicitly empower a union that represents a majority of the employees in a bargaining unit to act as all employees’ exclusive representation in collective bargaining.
Exclusive representation has a number of meanings. One is that the employer may not bargain with any other employees, no matter how well intentioned the conversation. Nor may the employer engage in discussions with another union purporting to represent some of the workers. The certified union is the only one with whom the employer may deal.
Exclusive representation obligates all workers in the bargaining unit to participate in union activities, though individuals may choose not to be a member of the union if they have that option. In many states, by law, workers cannot be mandated to join a union or pay dues as a condition of employment. These are referred to as right-to-work states. Despite the fact that the bargaining unit may include workers who do not agree with the union or its philosophy, the union has the duty to represent each worker equally and without bias, no matter their status (union or nonunion; dues paying or not).
In the News: Challenging the Right to Exclusive Representation
Twenty-seven thousand home care workers are part of a union that represents workers who are paid by the state to care for disabled or elderly patients. The National Right to Work Legal Defense Foundation filed a lawsuit in 2014, however, challenging the union’s r.
Introduction to agreement and contract
The Slides provide the complete introduction to the Contract law in India as per The Indian Contract Act, 1872
Value added vs non value added
This document discusses value added versus non-value added activities. It defines value as something a customer is willing to pay for. Activities that do not add value are considered waste. The seven main types of waste are defined as waiting time, excess motion, handling, excess inventory, overprocessing, overproduction, and defects. Examples are given to illustrate each type of waste and how identifying and eliminating non-value added activities can improve efficiency.
Transport choosing mode of transport
There are many factors to consider when choosing a mode of transport. Transport options for delivering goods from or to Finland include sea, land, road, rail, air, and combined transport, using containers or semi-trailers. Key considerations include the physical characteristics of the goods, their value, type, destination distance, batch size, urgency, fragility, packaging, and loading/unloading conditions. The requirements of the specific transport mode must also be taken into account.
Concurrent engineering
Concurrent engineering is a process where project workers carry out each stage of product development at the same time, rather than completing one stage before moving to the next. This allows teams like designers and engineers to work simultaneously, shortening development time. Some advantages of concurrent engineering are faster time to market, higher quality through earlier issue discovery, lower costs by decreasing design time, and increased productivity as workers can begin contributing value immediately rather than waiting for other stages to finish.
Service vs utility
Service refers to an action or work that is produced and then consumed, while utility refers to the ability of a commodity to satisfy needs or wants. In computing, a service is a function provided by one program or machine for another, while a utility is a software program designed to perform a single or small set of tasks to manage hardware, operating systems or software. In sports, a service is the act of serving the ball to start play in tennis or volleyball, while utility refers to the ability to play multiple positions. Overall, a service is an event where an entity acts on behalf of another, and a utility is the state of being useful.
Active listening
Listening is an important skill that impacts job performance and relationships. However, most people only remember 25-50% of what they hear in a conversation. To improve listening skills, one should practice active listening by focusing fully on the speaker without distractions, acknowledging what is said through nods or brief responses, and asking questions to ensure understanding. Mastering active listening can boost productivity, influence, and avoid conflicts through better communication.
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This document discusses aspects of contract and negligence law. It explains how contracts are formed by requiring elements like offer and acceptance, consideration, free consent, capacity of parties, and intention to create a legal relationship. There are different types of contracts that can be used, including verbal, written, distance selling, and deeds. Contract terms can be expressed or implied, and include conditions, warranties, and innominate terms. Tort liability differs from contractual liability in that tort deals with harm caused without a contractual relationship, while contractual liability involves harm between contracting parties. For negligence liability to exist, a duty of care must be breached that causes damages. Businesses can be vicariously liable for the negligent actions of their employees.
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TAM's College hired a marketing agency, NAMS, to help improve their reputation. NAMS agreed to provide intensive promotion for one month for £2500. However, NAMS stopped the marketing campaign early due to lack of payment. TAM's College sued NAMS for breach of contract. Additionally, a night guard at TAM's College was injured while on duty for not wearing the proper uniform, as instructed. The guard's family sued and won due to the doctrine of vicarious liability, whereby TAM's College was held legally responsible despite not being directly at fault.
Aspects of contract and negligence for business
Law identified with business can be finished up as all the law which applies to the rights,
relations and behavior of people and organizations occupied with trade, marketing, exchange,
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Contract Law Drafting ExerciseJuliana Williams, .docx
Contract Law Drafting Exercise
Juliana Williams, Judith Hobbs, Shawn Wilson, Jessica Denton, and Christopher Gilbert
LAW/421
May 9, 2016
CONTRACT LAW DRAFTING EXERCISE
CONTRACT LAW DRAFTING EXERCISE
Professor Alan Williams
1
Contract Law Drafting Exercise
In week 3, Team B decided to examine Intellectual Property contract clauses. Our team is writing about the necessary elements to form a valid contract as well as how to apply a contract clause within a business setting. We will also be summarizing the potential legal defenses available and potential remedies for a breach contract. The clause that we have drafted that could be pertinent to an Intellectual Property contract is as follows:
Contractor shall not use data collected by any means from Owner for any purpose other than that which is expressly outlined in the contract documents herein, for the lifetime of this contract, and any time thereafter, unless written consent has been received by the Owner or his designee. Any changes to leadership, ownership, or principals, must be reported to Owner immediately, as all responsibilities of this contract will be assigned to the new Contract holder, and all responsibilities herein, shall be adhered to as outlined in the original contract documents.
Elements Necessary to Form a Valid Contract
Contract Clause found in Article 1 of the United States Constitution was created to avoid states from interfering with private contracts. With this clause no state should pass any law impairing the obligation of contracts. The clause was made to protect contractors from creditors and debtors. Now the contract clause is there to protect individuals from the intrusion of state government. The contract clause is also a contract made by partnerships and corporations which will include as well vendor contracts and lease contracts.
The foundation of binding agreements that can be forced by the court will require some exigency to be processed. The number of requirements may not be numerous yet they must be met before the rights and duties of the contract can be enforceable by the law. Some of the requirements that can be considered a valid contract would be;
· Creating a legal relationship
· If an offer is being made
· If an individual is accepting or considering the contract
· If an individual has the capacity to a contract
· If an individual is in a state of being in accordance with the law.
Besides these requirements, some contracts must be in writing. It is preferable that a contract should be formatted in an electronic print to be enforceable. If a contract has all of these elements, then it can be enforced by the court.
Legal Issues and How the Contract is Applied to Business Managerial Settings
Rights to intellectual property can be incredibly lucrative, making huge sums of money. Infringement claims have also bankrupted large profitable companies without warning. With so much at stake, anyone dealing with issues in this area of law should seek ad.
Negotiation
Negotiation is a method to settle differences and reach compromise or agreement without argument. There are two main types of negotiation - distributive and integrative. Distributive negotiation involves bargaining over a fixed amount of value, while integrative negotiation aims to create value and find solutions where both parties benefit. Successful negotiation requires preparation, open discussion to clarify goals, and finding outcomes where all sides achieve mutual gains. Various strategies like making multiple offers simultaneously can help negotiations succeed in resolving conflicts to the satisfaction of all parties involved.
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This PowerPoint presentation (PPT) offers a comprehensive exploration of the vital legal concept of "Free Consent." Delve into the core principles and significance of free consent in various legal agreements, contracts, and transactions. Learn about the essential elements, factors affecting consent, and real-life case studies. This informative PPT provides a clear and engaging insight into the pivotal role free consent plays in ensuring fair and just legal relationships.
Encyclopedia on commercial contract management
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Imp collective bargaining levels
Collective bargaining is a process of negotiation between employers and organized workers, represented by their union, to determine terms and conditions of employment such as wages, hours, and working conditions. The goal is to reach agreements that are acceptable to both parties. Collective bargaining helps resolve conflicts, improves understanding between labor and management, and establishes rules governing the workplace. It plays an important role in industrial relations by promoting harmony, regulating employment terms, and allowing workers to protect their interests through their union.
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The document discusses a case involving TAM's College hiring a marketing firm, NAMS, to promote the college. TAM's paid NAMS £1500 upfront but NAMS broke the contract terms by missing deadlines. TAM's is suing NAMS to get their money back. Additionally, a TAM's staff member was injured on the job for not wearing proper protective gear as required. TAM's is facing legal penalties due to vicarious liability policies. The document analyzes contract elements, types of contracts, negligence torts, and defenses against negligence in analyzing both legal situations.
A Novel Fair Anonymous Contract Signing Protocol for E-Commerce Applications
With the economy developing and popular Internet, the general concept of contract signing has changed. In the past, people usually sign a contract at the same time and same place face to face, but actually each party involved in contract may live in different part of earth, they want to sign something for business or some other things in economic, efficient, secure and fairway. A fair contract signing protocol allows two potentially mis-trusted parities to exchange their commitments (i.e., digital signatures) to an agreed contract over the Internet in a fair way, so that either each of them obtains the other’s signature, or neither party does. Based on the LUCAS signature scheme, a new digital anonymous contract signing protocol is proposed in this paper. Like the existing LUCAS-based solutions for the same problem, our protocol is fair, anonymous and optimistic. Furthermore, the proposed protocol satisfied a new
property, i.e., it is abuse-free. That is, if the protocol is executed unsuccessfully, either of the two parties can not show the validity of intermediate results to others.
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This document discusses several responsibilities and rights related to employment, including collegiality and loyalty, collective bargaining, confidentiality, intellectual property rights, and discrimination. It provides details on the definition of these concepts, case studies to illustrate them, and how they relate to maintaining professional relationships and standards in the workplace.
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This document discusses several responsibilities and rights related to employment, including collegiality and loyalty, collective bargaining, confidentiality, intellectual property rights, and discrimination. It provides details on each topic, including definitions, case studies, and examples. Collegiality involves respect among colleagues working toward a common purpose. Collective bargaining is a process of negotiation between employers and unions over working conditions. Confidentiality principles protect private information disclosed to certain professionals. Intellectual property rights confer ownership over creative works to their creators.
Unconscionable Contract
Courts use the term "unconscionable" to describe conduct that is either unjust or one-sided to benefit one party more than the other. In contract law, an unconscionable contract is one that no reasonable person would enter into without some very compelling reason. Those who do end up entering into unconscionable contracts tend to be poorly educated, living in poverty, or have been unable to find a fairer agreement elsewhere. Bhanu Prakash Singh Markam"Unconscionable Contract" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-5 , August 2018, URL: http://www.ijtsrd.com/papers/ijtsrd17083.pdf http://www.ijtsrd.com/humanities-and-the-arts/other/17083/unconscionable-contract/bhanu-prakash-singh-markam
TextSeaquist, G. (2015). Employee and labor relations A practic.docx
Text
Seaquist, G. (2015). Employee and labor relations: A practical guide. San Diego: Bridgepoint Education
· Chapter 7: At the Bargaining Table
· Chapter 8: Grievances, Mediation, and Arbitration
7.1 Collective Bargaining
What is collective bargaining, and why is it such an essential right of organized labor? The theory behind collective bargaining is that it reduces the power differential between management and workers, making the relationship more equal; by compelling management to come to the table and meet with workers, there is a significant shift in power. This section sets the stage for the process of bargaining. It explores what it means that unions are the exclusive representatives of their bargaining unit and reviews the three classifications of bargaining subjects: mandatory, permissive, and illegal.
The Principle of Exclusive Representation
In Chapter 4 we saw that a first step of unionization was for workers to identify who should be a member of the bargaining unit. Once that was established, workers in the designated bargaining unit signed authorization cards, and if at least 30% of the workers voted to unionize, the process of moving toward an election could begin. If the prerequisites were met and an election took place, the National Labor Relations Board (NLRB) certified the union, which meant it then became the exclusive representative of that bargaining unit.
Exclusive representation is an important concept that is found in Sections 8(b) and 9(a) of the Labor Management Relations Act of 1947. Those sections explicitly empower a union that represents a majority of the employees in a bargaining unit to act as all employees’ exclusive representation in collective bargaining.
Exclusive representation has a number of meanings. One is that the employer may not bargain with any other employees, no matter how well intentioned the conversation. Nor may the employer engage in discussions with another union purporting to represent some of the workers. The certified union is the only one with whom the employer may deal.
Exclusive representation obligates all workers in the bargaining unit to participate in union activities, though individuals may choose not to be a member of the union if they have that option. In many states, by law, workers cannot be mandated to join a union or pay dues as a condition of employment. These are referred to as right-to-work states. Despite the fact that the bargaining unit may include workers who do not agree with the union or its philosophy, the union has the duty to represent each worker equally and without bias, no matter their status (union or nonunion; dues paying or not).
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This document discusses value added versus non-value added activities. It defines value as something a customer is willing to pay for. Activities that do not add value are considered waste. The seven main types of waste are defined as waiting time, excess motion, handling, excess inventory, overprocessing, overproduction, and defects. Examples are given to illustrate each type of waste and how identifying and eliminating non-value added activities can improve efficiency.
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There are many factors to consider when choosing a mode of transport. Transport options for delivering goods from or to Finland include sea, land, road, rail, air, and combined transport, using containers or semi-trailers. Key considerations include the physical characteristics of the goods, their value, type, destination distance, batch size, urgency, fragility, packaging, and loading/unloading conditions. The requirements of the specific transport mode must also be taken into account.
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Service refers to an action or work that is produced and then consumed, while utility refers to the ability of a commodity to satisfy needs or wants. In computing, a service is a function provided by one program or machine for another, while a utility is a software program designed to perform a single or small set of tasks to manage hardware, operating systems or software. In sports, a service is the act of serving the ball to start play in tennis or volleyball, while utility refers to the ability to play multiple positions. Overall, a service is an event where an entity acts on behalf of another, and a utility is the state of being useful.
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Listening is an important skill that impacts job performance and relationships. However, most people only remember 25-50% of what they hear in a conversation. To improve listening skills, one should practice active listening by focusing fully on the speaker without distractions, acknowledging what is said through nods or brief responses, and asking questions to ensure understanding. Mastering active listening can boost productivity, influence, and avoid conflicts through better communication.
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The 20-80 rule, also known as Pareto's principle, states that for many events, roughly 20% of the causes create 80% of the effects. It originated from Vilfredo Pareto's observation in 1906 that 20% of Italy's population owned 80% of the country's wealth. Later, Joseph Juran observed the "vital few and trivial many" principle, where 20% of defects cause 80% of problems. While Juran coined the term, it became known as Pareto's principle. The principle can be applied to management, sales, staff performance, and more - that 20% of inputs often lead to 80% of outputs. Managers should focus on identifying and addressing that important 20
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Contract theory
- 1. Contract theory Contract theoryisthe studyof howpeople andorganizationsdeveloplegal agreementsinsituations withuncertainconditions,unknownfactorsandinformationasymmetry.Contracttheoryappliestoboth multi-partynegotiationsbetweenaprincipal andone ormore agentsandcontracts createdby a single individualororganizationtospecifydetailsof multi-partyagreements,suchasemployee contracts. Ideally,acontract specifiesthe responsibilitiesandrequirementsof bothpartiessometiculouslythat there can be no room fordispute ormisunderstanding.However,thatideal mayneverbe achieved,for variousreasons.Moral hazard, one model withincontracttheory,isthe riskthatone party to a transactionisnot actingin goodfaith. For example,thatpartymayhave withheldimportant informationorprovidedmisleadinginformationormayhave undisclosedmotivationdrivingelementsof an agreementthatare beingnegotiated.Moral hazardofteninvolvesthe assumptionof risksthat disadvantage the partywithlessinformation.Othermodelswithincontracttheoryinclude adverse selection,inwhichthe principal partyisnotfullyinformedof the agent’sriskfactors,andsignaling,in whichthe agentreliablyconveysinformationaboutitself tothe principal,forexample,ajobapplicant listingqualificationsthatmatchthe hirer’slistof requirements. Contract theoryisa special applicationof game theory,whichisthe studyof mathematical modelsof negotiation,conflictandcooperationbetweenindividuals,organizationsandgovernments.Central questionsof game/contracttheoryinclude whyanindividualmakesaparticulardecisionandhow the decisionsmade byone individualaffectothers. Contracts A voluntary,deliberate,andlegallybindingagreementbetweentwoormore competentparties. Contracts are usuallywrittenbutmaybe spokenorimplied,andgenerallyhave todowithemployment, sale or lease,ortenancy. A contractual relationshipisevidencedby:- • An offer, • Acceptance of the offer,anda • Valid(legal andvaluable) consideration Each party to a contract acquiresrightsanddutiesrelativetothe rightsanddutiesof the otherparties. However,whileall partiesmayexpectafairbenefitfromthe contract(otherwise courtsmaysetitaside as inequitable)itdoesnotfollowthateachpartywill benefittoanequal extent. Existence of contractual-relationshipdoesnotnecessarilymeanthe contractisenforceable,orthatit is not void(see voidcontract) orvoidable (seevoidable Contract).Contractsare normallyenforceable whetherornot ina writtenform,althoughawrittencontract protectsall partiestoit.Some contracts, (suchas for sale of real property,installmentplans,orinsurance policies)mustbe inwritingtobe legally bindingandenforceable.Othercontracts(see impliedinfactcontractand impliedinlaw contract) are assumedin,andenforcedby,lawwhetherornotthe involvedpartiesdesiredtoenterintoacontract