In addition, each chapter is carefully organized and enriched by illustrative hypothetical and case examples that relate the material to real-life experiences.
Agreements between two entities, creating an enforceable obligation to do, or to refrain from doing, a particular thing.
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How does the law determine which promises are enforceable contracts and which are not? In a dispute, the court must initially determine whether the agreement constitutes a contract or not.
In order for an agreement to be considered a valid contract, one party must make an offer and the other party must accept it.
There must be a bargained for exchange of promises, meaning that something of value must be given in return for a promise (called "consideration").
When the parties have no express or implied agreement on the essential terms of a contract, there is no contract.The 12th Edition includes new "Going Global" features that highlight the international aspects of legal issues, more than 30 recent cases, updated coverage of limited liability companies and suretyship, amendments to UCC Articles, SEC rules on social media, recent U. Recognized for accurate, relevant, and straightforward coverage, BUSINESS LAW AND THE REGULATION OF BUSINESS, 12E illustrates how legal concepts apply to today's common business situations.The purpose of a contract is to establish the agreement that the parties have made and to fix their rights and duties in accordance with that agreement.The courts must enforce a valid contract as it is made, unless there are grounds that bar its enforcement.The book's comprehensive, yet succinct, approach provides the depth of coverage ideal for business success and CPA exam preparation without technical jargon.