Category: Economics

LEGAL ADVICE TO THE ECONOMIC PARTIES CONTRACTS
1.consider the legal advice which all concerned might require….

2. refer to the Law Acts in order to solve the dispute…………

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Special Economic Zone

 

The assignment details:Conduct research and write a report on the following topic:
– examine the phenomenon o fa Special Economic Zone (SEZ) through a country within the Asia Pacific Region .
– Define the term SEZ – explain how and why the location for the SEZ zone within the country was selected and who is involved in its operation. – critically analyse and compare the labour patterns and conditions prevailing within that SEZ compared to that of the country’s general labour terms and conditions for workers. – Explanation and comparison of labour patterns and conditions of the above must be in terms of the convergence/ divergence dichotomy.

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LEGAL ADVICE TO THE ECONOMIC PARTIES CONTRACTS
1.You are asked to consider the legal advice which all concerned might require….

2.You must refer to the Law Acts in order to solve the dispute…………

INTRODUCTION

Polly designs the children clothes and sells them. On merging with Ollie Ltd, a new brand is made by Zak as suggested by Ollie. Besides Polly outsources from Molly and Dolly as they they all run unicorporated business. The new brand that was made was sold to Anu. The dress got damaged while Anu was washing it using the washing machine. It is clear that there exists various contracts in the subject matter: The contract between Dolly, Molly and Polly; contract between Polly and Ollie; contract between Polly, Ollie Liability Ltd and Zak, and contract between Polly and Anu.

Contract to Dolly, Molly and Polly

Polly outsources from Molly and Dolly as her business expanded, the raw materials offered should be of Mechantable quality. According to the Sale of Goods Act, the goods must be fit for the purpose made for. But in these case the parties involved had a common mistake. Both parties assumed the goods were fit for the purpose in Staiman Steel Ltd. V commercial and Home Builders Ltd commercial Home builders bid for steel at an auction with presumption that it had a mixture of new and used steel, when in the case it was only used steel. The court then decided reasonably that the contract was bidding on both parties depending on the agreement and conduct of the parties involved. Therefore Dolly, Molly and Polly contract might depend on the agreement among them concerning the quality of the materials offered.

Contract between Ollie Liabilty Ltd. and Polly

There was a contract between Ollie Liability Ltd and Polly. The clothes designed by Polly are sold through Ollie’s toy shop. Ollie toy shop was at stake for bad image if found selling substandard goods. But in this case, Ollie is the person to blame for the damaged goods since he contracted Zak to make the new brand and the brand turned to be of poor quality. The parties in question should then strike an agreement on how to settle the tainted image on Ollie’s toy shop and the spoilt brand suggested by Ollie and contracted by him.

Contract between Zak and ollie , Polly Ltd

Zak was contracted to make the new brand and in this case was to exercise professionalism for the work assigned. He made a poor quality brand and therefore he was liable to the damged dress. He should be sued by Polly and Ollie Ltd for the cost of dress and the tainted image. In Sodd Corp. V. N. Tessis (Duhaime, 2010)

Tessis purchased furniture that had been mispresented in value in the statements by Sodd Corp, a trustee in bankruptcy. The court ruled in favor of Tessis due to negligence on the part of Sodd Corp in their precontractual agreement. Therefore, Zak is liable to be sued for negligence which is breach of tort.

Contract between Polly and Anu

Polly though placed a statement on the dress about payment for the cost of goods only the client Anu did not read it as it was tiny. This is a mistake on both parties as Polly had a duty to inform Anu to read the instructions and on the other hand Anu had an obligation to ask or look for any conditions attached to the dress before accepting it therefore this stipulates into a common mistake. Anu cannot sue for the cost of derss and the shawl. She can only ask for the damage for cost of goods in Upton V. Tribilcock (1875, U.S.A) it will not be prudent for anyone to enter into a contract and when called upon to react to its commitment alleges that he did not read it when the contract took place. Anu had an obligation to read the instructions.

Similarly there was misrepresentation as Anu did read the standard terms as in Marvco Color Research Ltd. V. Harris(1982)( Rau, Robert, Windhor, Windfohr, 2009)

The defendants signed aloan guarantee failing to read the document first and depending on the word of the loan debtor that they were signing only an adminstrative document that was insignificant. When the they were sued for the debt they pleaded that it wasn’t there action. The court ruled in favor of the bank since it was the carelessness of the defendants to discover the misrepresentation. Therefore Anu has no legal capacity to sue for the cost of dress and the cost of the other garments spoilt during the laundry. She can only sue for the cost of the dress bought .

Conclusion

As mentioned in the various cases above Zak must pay for the damages to Polly and Ollie and Polly to pay for the cost of the dress as in the agreement.Molly, Dolly and Polly can agree on how to settle if they are the ones who provided the raw materials while Zak and Polly having the company in joint ownership will have to bear the costs mutually since it was a common mistake.

 

 

References

Alan Scott Rau, Robert F. Windhor & Anne Burnett Windfohr, Contract Law in the United

States:An Overview, The University of Texas, Austin School of Law (2009).

Lloyd Duhaime, Duhaime’s Contract Law, Permalink, (2010).

Sale of goods(Amendment) Act 1995,U.K

 

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10

Special Economic Zone
The assignment details: you are required to conduct research and write a report on the following topic:
– You have to examine the phenomenon o fa Special Economic Zone (SEZ) through a country within the Asia Pacific Region ( I choose Singapore).
You must – Define the term SEZ – you have to explain how and why the location for the SEZ zone within your country ( Singapore) was selected and who is involved in its operation. – you have to critically analyse and compare the labor patterns and conditions prevailing within that SEZ compared to that of the country’s general labor terms and conditions for workers. – Explanation and comparison of labor patterns and conditions of the above must be in terms of the convergence/ divergence dichotomy.
You will be assessed on your ability to critically analyse, recognize and discuss the key Issues, you are required to use at least 15 academic reference material to support your arguments. The quality of the sources of information you use, as well as your referencing skills. will also be assessed
Important notes: – I am required to follow the Chicago 16 references style, So Please keep the page number in your in text references like this (Robert 2010. P6) and your end text references like this ( with articles’ links or DOI no except books)
McQuade, Eamonn, Ellen Sjoer, Peter Fabian, Jos? Carlos Nascimento, Sanaz Schroeder. 2007. “Will you miss me when I’m gone?: A study of the potential loss of company knowledge and expertise as employees retire” Journal of European Industrial Training 31(9): 758 ? 768. Doi: 10.1108/03090590710846701. …………..

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Foreign Aid to Developing Countries

– State of the World, Why Economic Freedom is Vital

– Wealth Creation and Economic Growth

– Basic Trade Concepts

– Specialization and Comparative Advantage

– History of Trade / Interaction of trade and globalization

– Potential Problems/Fears of Trade/Globalization’s detractors

– Cost and Reasons of Trade Restrictions

– Trade Issues Discussion

– Do Restrictions Work?, Special Interests & Reducing Restrictions

– Currency Exchange Markets, Value of money

– Currency Exchange Systems, History

– Macro policy impact on exchange rates

– Balance of Payments/Current Accounts/Capital Movement

– EU Debt Crisis – EU and Euro

– China’s future and influence

– Immigration Policy; econ and morality

– NGOs: WTO, IMF, World Bank

– Role of Aid, Growth Models

– History of International Development Aid

– International Development Aid- a new perspective

– How do we help the 3rd world?

– What about culture?

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Economics Questions

1. A company has developed the production function of Q=80 L^(0.5) K^(0.6) where L represents labour and K represents capital.
a. If L is increased by 2% with K unchanged, what is the resulting percentage change in output?
b. Describe the nature of returns to scale for this production function.

2. A firm makes and sells lawn tractors. The sum of the costs of frames, assembly and the engine equals the cost of each tractor. The firm produces its own engines according to the cost equation CE=235,000+800Q+3Q^2. The cost of the frames and assembly is $550 per lawn tractor. The demand function is Q=320-0.04P.
a. What is the MC of producing an additional engine and the MC of each lawn tractor? Find the firm’s profit-maximizing quantity and price.
b. Assume the firm has the chance to buy an unlimited number of engines from another company at a price of $845 per engine. Will this option affect the number of lawn tractors the firm plans to produce? What would their price be? Will the firm continue to produce its’ own engines? If so, how many?

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The essay has has 2 parts which are as follows;

PART `A`: What is meant by `A Shock To Aggregate Supply`? How can economic policy be implemented to counter such a shock?

PART `B`: How does government expenditure and taxation affect the multiplier in the standard Keynesian model? What would happen if the Government increased both taxes and the expenditures by the same amount?

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Economics Questions

1. A company has developed the production function of Q=80 L^(0.5) K^(0.6) where L represents labour and K represents capital.
a. If L is increased by 2% with K unchanged, what is the resulting percentage change in output?
b. Describe the nature of returns to scale for this production function.

2. A firm makes and sells lawn tractors. The sum of the costs of frames, assembly and the engine equals the cost of each tractor. The firm produces its own engines according to the cost equation CE=235,000+800Q+3Q^2. The cost of the frames and assembly is $550 per lawn tractor. The demand function is Q=320-0.04P.
a. What is the MC of producing an additional engine and the MC of each lawn tractor? Find the firm’s profit-maximizing quantity and price.
b. Assume the firm has the chance to buy an unlimited number of engines from another company at a price of $845 per engine. Will this option affect the number of lawn tractors the firm plans to produce? What would their price be? Will the firm continue to produce its’ own engines? If so, how many?

 

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Micro economics

Write a FIVE TO SIX page essay analyzing the topic or critique the article from economic perspectives.

The questions to address in this essay may include,

· What is the main economic issue?
· How is the economic issue related to the concepts or models that you have learned from this course?
· What sorts of arguments/opinions have been discussed?

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Experimental economics The guidelines for the project are embarrassingly similar to those for that junior high science fair project .

1 What is the idea?

2 What was intended to learn?

3 What are the details of experimental design?

4 What is the original contribute

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