Business Law Essay Example | Topics and Well Written Essays - 2000 words - 4

Business Law - Essay Example informs the seller the particular objective or need for which the goods are being requisitioned , so as to show that the buyer places trust and faith on seller’s skill or judgment, and the goods are of a description which it is in the course of the seller’s business to supply (whether he is the manufacturer or not), there is an implied condition that the supplied product will serve this purpose...† (Modification of Act for Certain Contract: Implied Terms About Quality of Terms. 1979). It could be said that the clients had relied on the skill and expertise of the vendor company, Ace Computer Ltd., but unfortunately fourteen of the twenty computers supplied turned out to be defective. In such a situation, it is possible that by applying the Warranty clause that is in force, Ace Computers would need to replace the defective computers with good ones. It needs to be argued that under such circumstances, the question of taking back the defective computers and repaying the amount does not arise, since the contractual obligation between Ace Computers Ltd. and the clients, Stevens, Wiley and Company, does not consider refund of the purchase price. The contract does not enjoin that costs of defective goods would be refunded, but it is possibly that replacements of four defective computers could be made, and also the models supplied to Damien, could be replaced. It could be argued in this case, that the contractual obligations under the agreement signed between the parties are binding, and there being no clause that specifically provides for refund of purchase price, it may be not be enforceable under law. However, when considering arguments from point of view of the clients, their main allegations would be in terms of the fact that they are not in the regular business of buying computers, but Ace Computers are in the business of providing computer business solutions for years. They have placed the order on the basis of assurances provided by Gerald, the director,

Micro and Macro Economics Assignment Example | Topics and Well Written Essays - 500 words

Micro and Macro Economics - Assignment Example So the jobless workers used to join the companies where there is no existence of the union. As the number of employees increased in those nonunion companies, salary/wages used to get reduce. In this case the spillover effect is [($20-$10)/10]*100= 100%Estimated Union Advantage with the Spill-Over Effect:The revised salary of the nonunion company is $10 where as new salary in the Union based company is $20. Although the spillover growth is showing a value of 100% growth in actual term, growth in the wages in the union based company is 33.33%.Increase at wages in Firm B: The increase in the wages of firm B is known as threat effect. Generally, companies where no union is present used to take this way to minimize the possibility of development of concept of union controlled labour system. Generally, the increase in wages is lesser in this companies compared to that of the unionized firms. As an example, in this example, the rate of increase in the wage for firm A is 50% ($20 to $30) whi ch is unionized whereas for B it is 25%. ($20 to $ 25)Union Advantage: In firm A, the growth in wages are [($30-$20)/$20]*100=50%; whereas for firm b, which is a non-union firm growth in wages are: [($25-$20)/$25]*100= 20%. There is a clear difference of 5% in increase of wages between union and nonunion firm.Prevailing Wage can be defined as hourly wage system, usually added benefit and structured overtime compensation paid to the majority of the people belonging to working group within a particular area.