COMM 393 Lecture Notes - Lecture 2: Efficiency Ratio, Starbucks
Document Summary
May 17 - class 2: alternate dispute resolution, negotiation: When being upset with each other, negotiation may not work: mediation: An independent third-party facilitator makes suggestions to work with parties to facilitate with a non-binding agreement. Mediation provides chances for parties to find evidence. Mediation works when both parties agree to mediate: arbitration/trial. With binding decision that parties are bound to follow. Offeree: the person who accepts the offer: have to follow what they say, six required elements of contracts, offer, acceptance, consideration. Intention: capacity, legality, offer, contract cannot come into existence until there is an offer & it has been accepted, offer is a proposal of some sort & the intent to be bound should the offer be accepted. Terms of contract must be set out clearly and not ridiculous: can be communicated, orally, written, by conduct, the form of the offer is not important, offers must be communicated prior to acceptance.
