Commercial contracting Essay Example | Topics and Well Written Essays - 6000 words

Commercial contracting - Essay Example For advising Transco regarding these issues, the following discussion, relating to the terms used in the letters from Minerva and Hedge Plc have been taken up for discussion. Essay 1 Subject to Contract The formation of contracts is a process that is subject to continual change. This process has gradually acquired considerable intricacy and involves much higher stakes. Nevertheless, some features of this process have remained unchanged. For instance, the negotiators are interested at reaching an agreement and are keen to gain the maximum profit from it. These objectives are inherently contradictory; because, a party that is interested in effecting an agreement might be required to behave in a manner that diminishes its profits.1 It has been a long standing practice to employ the device of subject to contract in contractual negotiations. This expedient prevents the emergence of contractual liabilities, during contractual deliberations. Its use in correspondence that transpires before a contract is formed connotes the absence of contractual liability till such time as a contract is formed.2 The subsequent conduct of the parties to an agreement, primarily determines the outcome of the condition subject to contract. ... Furthermore, this term cannot be employed to indicate that no binding contract can be formed. In addition to the written words and negotiations the conduct of the parties also determines the existence of a binding contract.4 As a result, any instruction to commence work, prior to arriving at a final agreement, should be dealt with great care. In Regalian Properties plc v London Dockland Development Corpn [1995] it was held that an offer that had been accepted, subject to contract was not binding in nature. In this case, the plaintiff was a property developer who made its offer via a letter entitled subject to contract. 5 Due to difficulties envisaged in acquiring the land by the defendant and other reasons, the contract proved difficult to materialise. The plaintiff claimed heavy damages, which the court rejected, as the work had been undertaken on the basis of subject to contract, which implied the absence of a contract betwixt the plaintiff and the defendant. The plaintiff had incu rred considerable expenditure, in the anticipation of procuring the contract. The court held that the plaintiff’s actions had been at its own risk, as there was no binding contract between the plaintiff and the defendant.6 Thus, subject to contract provides a stratagem for circumventing liability in such claims. In Confetti Records v Warner Music UK Ltd [2003], it was ruled by the court that the inclusion of a track from the album did not constitute an infringement of copyright. The inclusion of the term subject to contract indicates that the party has no intention to confer a binding nature on deal memo. However, the act of sending the track and invoice by the claimants was to be considered a valid offer. If the defendant had

Management Essay Example | Topics and Well Written Essays - 1750 words - 3

Management - Essay Example Refreezing is about eh stabling the change process. Mainly the organization looks to complete the refreezing stage through organizational norms, culture and structures (Carnall, 1994, p. 351). Organizational Level One of the most famous analytical models that describe the process of change at an organizational level has been developed by Harold J. Leavitt. According to Leavitt organizations are like multivariate systems that have four most important variables such as the structure, goal, technology and players (Moore, 1963, p. 141). According to Leavitt structure is the structure of authority, communication and responsibility and work relations. The players are the employees of the organization; Technology is the techniques and equipments that are used by the players or employees of an organization to achieve desired organizational goal. Leavitt considered goal as â€Å"la raison d’etre† of an organization. Leavitt believed that organizational goal is the rationale that complements the functioning and the existence of the organization. Leavitt believed that these variables lead to organizational change. The core concept model was represented by the strong relation and interdependence between the four variables leading to main consequences: One of the variables can be modified to inflict desirable changes in the other type of variable. The change of one variable may quite possibly lead to some unwanted and unexpected changes in the other variables (Ridley, 2008, p. 301). Researchers related to the field of organizational science and psychology however felt that the theory proposed by Lewin was a little dispersed and may require some modification so that the organizational... The study has been conducted in order to analyze the process of organizational change and development. Organization change can be defined as a transformation phase than an organization goes through when the structure and strategies of an organization is altered. The study looks to describe in the modern day business environment an organization has to go through a process of change not only to gain competitive advantage but also for ht mere survival. The study shows the role of the managers as a change agent. Organizational development can be defined as the answer to the organizational that is conducted to modify the norms, values and attitudes and structure of an organization. There are several inadequate processes of organizational change and development. Some of the essential factors need to be monitored before implanting organizational change within the firm. The present study looks to provide a brief over view of the organizational change and development process. During the course of study organizational change from and individual and organizational perspective has been analyzed. Theoretical and analytical models such as the Lewin’s three sate model, Harold J. Leavitt model of change and also model suggested by model suggested that Jeanne Watson, Ronald Lippit and Bruce Westley; which also happens to be a modified version of the three stage model proposed by Lewin has been presented. Also the process of organizational change implementation has been provided.