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Topic 18: Business Law - 53 B Legal requirements for contracts For a valid contract to exist, ve elements must exist: offer and acceptance, genuine assent, adequate consideration, capacity, and legality (1) Offer and acceptance One party must make a de nite, unquali ed offer, and the other party must accept this offer in total Three conditions must exist for there to be a valid offer: intent, communication, and de niteness Three conditions must exist for there to be a valid acceptance: bilateral contract or a unilateral contract, content, and communication (2) Genuineness of assent It is important that both parties are bound by their promises There are certain conditions that would cause a lack of assent so that no valid contract exists: (a) Misrepresentation (b) Duress, indicating a condition of coercion (c) Undue in uence, indicating a lack of assent by the offeree (d) A unilateral mistake, whereby one party knows or should realize that the other party is relying on a mistaken belief or incorrect information (e) A mutual mistake, indicating a contract that contains latent ambiguities and can be avoided by either the offeror or the offeree (f) A lack of mutuality exists in a situation in which a statement has been made that sounds like a promise but does not, in reality, bind the person making the statement to do anything (3) Adequate consideration Consideration is something that is bargained for and exchanged in a contract (4) Legal capacity The parties to an enforceable contract must be capable of entering into the contract in the eyes of the law There are certain parties who lack legal capacity (a) A minor lacks legal capacity (b) An insane person lacks legal capacity (c) An intoxicated person may lack legal capacity (5) Legality The terms of a contract cannot require any laws to be broken C Types of contracts (1) Nature of the promise (a) Bilateral contract The promise of one party is exchanged for the promise of the other party Both parties make promises that are legally enforceable (b) Unilateral contract The promise of one party is exchanged for the other party s performing some act or refraining from some act Only one party can be forced to comply with the contract For example, insurance contracts are unilateral Only the insurer is legally bound to do something The insured makes no promise to do anything Of course, if the insured does not pay the renewal premium, the policy is canceled (2) Legal validity and enforceability (a) Enforceable contract All conditions and elements are present and clear (b) Void contract A void contract has no legal standing because it lacks one or more of the requirements speci ed by law for a valid contract (c) Voidable contract A voidable contract is a legally enforceable contract, but one from which at least one of the parties can escape liability because of lack of capacity, lack of utuality, duress, misrepresentation, undue in uence, or mistake.

54 - General Principles of Financial Planning (d) Quasi-contract Not actually a contract, but can act like one It serves as a remedy where someone has unjustly received a bene t but where there was no contract (e) Unenforceable contract A contract can exist because it has all of the elements of a valid contract However, at least one of the parties may have a defense that can be used to render it unenforceable, such as the Statute of Frauds or a material breach of contract D Two topics in contract law, which are unrelated to each other, concern written agreements (1) The Statute of Frauds states in general that a contract does not have to be in writing in order to be enforceable However, there are exceptions to this general rule The following contracts must be in writing to be enforceable: (a) A promise to answer for debts of another For example, one person promises to pay a debt and another person guarantees that promise The guarantee must be in writing to be enforceable (b) A contract to transfer an interest in real estate must be in writing (c) A contract that cannot, by its terms, be performed within one year from the date of agreement must be in writing (d) The Uniform Commercial Code (UCC) on the sale of goods of $500 or more must be in writing (2) The parol evidence rule also impacts written contracts When a contract is in writing, this rule limits the evidence that can be introduced at trial to prove hat the terms of the contract are The contract as written will be binding on both parties E Any nonperformance of a contract is a breach of the contract However, there are times when nonperformance of the terms of a contract is excused (1) If one party has committed a material breach, the other party is excused from performance (2) Death excuses a party from the duty to perform services, but not from the contractual duty to deliver goods or convey real estate (3) If a breach of contract has occurred, there are various remedies available to the nonbreaching party The nonbreaching party can be awarded monetary damages (a) The general measure of monetary damages is the amount of money that will put the nonbreaching party in the position that he or she would have occupied had there been no breach Such damages are known as compensatory damages (b) Punitive damages are damages aimed at punishing the breaching party rather than merely compensating the nonbreaching party Punitive damages are not usually allowed in breach-of-contract cases (c) Liquidated damages are damages for breach of contract where the monetary amount was agreed to at the time the contract was made Courts allow such damages only if the amount is reasonable (d) Under certain circumstances, the nonbreaching party can be awarded equity 2 Torts A A person can commit two classes of wrongs: public and private (1) A public wrong is a violation of one of the laws that govern the relationships of the individual with the rest of society It is called a crime and is subject to criminal law (2) A private wrong is an infringement of the rights of another individual A private wrong is called a tort, and the person who commits such a wrong is called a tortfeasor A tort.

81,82 Section 5.4 demonstrates the use of these multivariate tools. div>. Printing PDF 417 In Visual Studio .NET Using . Barcode Creation In .NET Using Barcode generation for ASP .Related: 

Creation In NET Framework Using Barcode encoder for Visual Related: .

Barcode Generator for Crystal Reports - Free Trial Version Download. Download Barcode Generator for Crystal Reports Trial For Free. .Related: VB.NET Barcode Generator , Barcode Generation ASP.NET Library, SSRS VB.NET Barcode Generator

bytescout.com/taxonomy/term/14">BarCode Generator SDK </category . bytescout.com/taxonomy/ term/15">BarCode Reader SDK . 24px;&quot;&gt;Sorry, the product is not .Related: 

multivariate data analysis tools. PDF 417 Recognizer In Visual Studio .NET Using Barcode scanner for .NET . PDF-417 2d Barcode Generation In Visual Studio .NET a>.Related: 

input 12 digits. EAN-13 Generation in Excel. How Install Excel Barcode Addin. . in .net framework. How to Link EAN-13 Barcode to Cell Contents. .Related: Barcode Generation SSRS .NET Winforms , Print Barcode Crystal Library, SSRS Barcode Generating Library

KeepAutomation). UPC-A Generation in Excel. How to Install Excel Barcode Addin. 1 . barcode image. How to Link UPC-A Barcode to Cell Contents. .Related: Barcode Generation SSRS , Barcode Printing Word Library, Printing Barcode Word

Architecture, Infrastructure, and Tools. Quick Response Code Creation In .NET . Adopting an Architecture. QR Code 2d Barcode Generation In Visual C# Using .Related: 

package for .NET IDEs; Barcode .NET Creation Tutorial : Quick access to integrate dynamic barcodes in .NET IDEs; Barcode Control for ASP .Related: .NET Barcode Generation , Barcode Printing ASP.NET VB , Create Barcode SSRS

Fixed: GDI World Transform in combination with NormalizeDC . New setup (MSI) and improved product manuals; . PowerBuilder 10; ASP/Word Barcode Generator; Visual Basic .Related: 

EAN-13 Add-In for MS Word encodes: 0, 1, 2, 3, 4, 5, 6, 7, 8, 9. EAN-13 Generation in MS Word. How to Install Barcode Plugin. . How to Generate EAN-13 Barcode. .Related: Make Barcode Word how to, Crystal Barcode Generator how to, Crystal C# Barcode Generation

by-step instructions for adding barcode generation technology to . to use, consider the code 128 barcode fonts used . from the Visual Studio .NET (VS.NET) IDE menu .Related: .NET Intelligent Mail Generation

image formats. EAN-13 Barcode Maker Component SDK Library . 1. Download KA.Barcode Generator for .NET Suite (for EAN-13 generation) trial package and unzip. .Related: Print Barcode Word , Generate Barcode RDLC ASP.NET , Barcode Generation Crystal

IIS). 1. Unzip the trial package and copy "barcode" folder and its contents to your IIS, create a new virtual directory "barcode". .Related: Barcode Generation Java , Print Barcode ASP.NET , Create Barcode ASP.NET

cs file to the project: Click Project .Related: 

Install UPC-A Barcode Encoder Library into ASP.NET Projects. 1. Download KA.Barcode Generator for ASP.NET trial version and unzip. .Related: QR Code Generator Word , QR Code Generating Excel Data, QR Code Generating Word Data

45 8.3.1 Text Elements 45 8.3.2 Barcode Elements 46 8.3.3 Picture Elements 46 . 49 9.3.3 HTML Formatted Expressions 50 9.4 Simple Text (Barcode Elements) 51 .Related: 

Download Free Trial Version of KA.Barcode for .NET Suite. Free evaluation package of KA.Barcode for .NET Suite to create barcodes in .NET now! .Related: QR Code Generating C# Data, QR Code Generation Java Image, QR Code Generator .NET WinForms

Add Existing Item from the VS.NET IDE menu; . The IDAutomation ActiveX Barcode Control allows generation of Windows .Related: 

Free Trial Version Download for KA.Barcode for Excel. Now download KA.Barcode for Excel trial for free! Licenses & Prices for KA.Barcode for Excel. .Related: QR Code Generating Java Data, QR Code Generation C# Image, QR Code Generator .NET

display on a system without needing access to a . an application known as Aeromium Barcode Maker to create a . For more details, please visit : Barcode in Crystal .Related: Excel ITF-14 Generating , Create QR Code Excel , Create QR Code Word

to user barcode component SDK with no fonts or third party tools needed; . To view more detailed code for RM4SCC barcode generation and adjustment, please click he "View More" button.Related: Print Barcode RDLC C# , Barcode Generating Crystal , Print Barcode RDLC SDK

44 8.3.1 Text Elements 44 8.3.2 Barcode Elements 45 8.3.3 Picture Elements 45 . 49 9.3.3 HTML Formatted Expressions 50 9.4 Simple Text (Barcode Elements) 51 .Related: 

software comes with a 30 day free trial. . v6.75) This version supports the MS Access 2007 (.ACCDB . file format, updates GS1-128 Barcode Applications Identifiers .Related: Create EAN-8 C# , Intelligent Mail Printing Word , Codabar Generating VB.NET

Request your free trial license online for free . Base64 encoded TFF files and repository access in JAVA . of Barcode Studio - the popular barcode maker software for .Related: Generate Interleaved 2 of 5 Excel , Print Code 39 VB.NET , Create EAN-8 Excel

Reports : Barcode Generator for .NET Crystal Reports generation guide; . Control for Java : Professional Java Barcode component for . NET UPC-A : VS .NET Linear upc .Related: Barcode Generator RDLC ASP.NET , Generate Barcode ASP.NET , Generate Barcode Java

Integration: Access; Crystal Reports; Excel; FileMaker; FoxPro, VFP; . TrueDoc format: BitStream's Web Font Maker and HexMac . example that creates a code 39 barcode. .Related: Codabar Generating Word , Printing ISBN Word , Excel Data Matrix Generating

Request your free trial license online for free.&lt . encoded TFF files and repository access in JAVA . barcode-studio/Default.aspx" title="Barcode Maker and Barcode .Related: Intelligent Mail Printing .NET WinForms , Intelligent Mail Printing .NET , EAN-13 Generator Word

Select a list of cells for barcode generation, and click quot;Generate" in the setting panel. : Accurate linear 1d barcode Bookland EAN creating with KA.Barcode Generator for xcel. NET Intelligent Mail : VS .NET Barcode Generator for .Related: Barcode Generating VB.NET , Create Barcode .NET Winforms C# , C# Barcode Generation

Generator In VS .NET Using Barcode generator for Visual . Equation 104. Universal Product Code Version A Drawer In .NET Framework Using Barcode encoder for .Related: .NET Winforms Barcode Generation Library, Barcode Generating RDLC .NET Winforms , Print Barcode .NET Winforms

Barcodes; Barcodes by e-mail; Barcodes in Access; Barcodes in ASP.NET; Barcodes by e-mail; . OneCode (now renamed Intelligent Mail); Online barcode label maker. .Related: EAN 128 Generation .NET , Print Code 39 .NET , Create QR Code .NET WinForms