MANAGMNT 260 Lecture 7: management 10.7
21 Mar 2016
School
Department
Course
Professor
Document Summary
Constitution supreme law of the land. How federal and state laws came from it. Federal is not always above state law, state is fully equipped. Federal and state laws always have to conform to constitution. Legal process, how you begin an action. Contracts important, what business people deal with! Post midterm: business entities, how you want it to be formed, financing it, securities. Issue- the issue is whether or not there was a contract between quest and singh. The elements that make up a contract are an agreement (offer and acceptance), consideration, capacity, and legal subject matter. Agreement: singh gave his part but quest didn"t come through with agreement. Quest failed to meet agreement. (offer and acceptance) Quest offered on this kickstarter campaign for money and will sell you an ipad stand, singh accepted offer and sent in money contract- offer and acceptance! Quest says no contract because the fact that kickstarter is a crowdfunding site and not a store.
