Saturday, February 22, 2020

News Article related to Liquidated Damage Clause Essay

News Article related to Liquidated Damage Clause - Essay Example It often includes a reading that the parties involved in the contract are agreeing beforehand, as it would probably be unmanageable to decide the compensatory damages in the event of contract breach, although, such a statement is not mandatory. This clause may be conducted towards both parties involved in the contract. For instance in these words: "If both of us neglect to execute, one will be obliged to pay the other party $20,000." But it is not essential too. Normally, a liquidated damages clause is conducted towards only one party, along with the specified date of delivery of amount. The California Association of Realtors has provided a benchmark contract involving residential purchase that entails a liquidated damages clause that emphasizes that if a buyer failed to fulfill the completion of purchase contract due to fault by buyer, the seller will retain the amount deposited actually as the liquidated damages. The most noteworthy items in the mentioned clause include the asymmetry of the provision; as it puts the whole burden on one party, its limitation to a specific unit of residential property set by the Civil Code 1675 and the requirement of agreement by signing to ensure damages are paid. The signatory agreement is required to ensure that both parties have agreed that the contract has breached. Otherwise an arbitration or judicial decision will be needed. Initialling or signatory agreement on a liquidated clause is not mandatory but optional. Though it is printed priory in the agreement of CAR purchase, it is applicable only on the indication of both parties. Mostly in the encounter of a liquidating clause, a principle has the liability to inquire the meaning of the clause replied by the seller as defined by law. At times the contract has been breached by the buyer and this hurts the seller who desires to have more than the deposited amount so the inclusion of liquidated damage clause helps in

Wednesday, February 5, 2020

ISMG Essay Example | Topics and Well Written Essays - 1250 words

ISMG - Essay Example Atkins, and many others in the MDCM IT department were already aware of this. MDCM, Inc. Strategic IT Portfolio Management, Page 2. During the meeting there were many options made available to the IT department. The IT department would implement new strategies in an effort to cut costs, and save the company money. McMullen has found blame for the companies loss of revenue in the previous five quarters on the IT department. McMullen hired Atkins to begin an assessment of the IT department, and to help the company begin posting profits again as soon as possible. Atkins began his position with an internal audit of the IT department. Some of the options discussed in the meeting were to create a company email. Every personnel who needed to communicate would be given their own email address. With a just one email address for everyone in the company this will filter out possible important information being filtered to the junk folder by the recipients email provider. The company was going t o an overhaul the computer system within the organization. The company was going to update all computers throughout. Every computer would then operate with the same operating system. With the computers operate with the same operating system the computer would be compatible with each other. Currently there are computers with four types of operating systems. The computers are not compatible with each other. ... The company will also create a website. The website will allow customers to order products directly from the site with no need to contact a representative in the organization. The website will allow a customer to leave an email message, and to contact the company if necessary. The company will implement new strategies for the different offices too effectively, and efficiently communicate with one another. The company will cut some of the labor force. The United States division of the company currently has the largest work force. The company will begin to eliminate some of the jobs. Every position the company eliminates will help the company save money. The company wanted to assess the situation, and develop the most effective solution to the company’s current situation. The company will use the savings of cutting some of the positions and appropriate the funds to the Information Technology department. Atkins requested an increase in the budget for the IT department. The compan y found they could not increase the current budget of the IT department without cutting costs elsewhere. The company, Atkins, and the leaders of the IT department have developed the strategy to cut some of the positions and re appropriate the funds to the IT department budget. With the extra funds available to the IT department the company will be permitted to implement the strategies, and recommendations made by Atkins, and other leaders of the IT department. When the company implements one network, this will be beneficial to the company. There can possibly be a strong financial gain to incorporating one network. In having only one network, the associates in France will communicate more efficiently, and effectively. The network will be one, so there will be no compatibility