In this assignment, you will evaluate the requirements for a valid contract and contract clause considerations.
You are a business planner and accountant. Gloria has come to you to get some advice on which supplier will best meet her needs and objectives. You are a business planner and accountant. Part of your expertise is in helping prospective business owners evaluate the various manufacturing and supplier options available based on the product they manufacture. You have a long history of working with widget manufacturers, which is why Gloria is meeting with you. Additionally, you are an expert in global business issues and can help Gloria review foreign supply options, including the applicable laws, customs regulations, and tax implications of using a foreign supplier versus a domestic supplier. Gloria has come to you to get some advice on which supplier will best meet her needs and objectives.
Prepare a paper that addresses the following.
- What elements are necessary for a valid contract to exist? Define what constitutes a “valid offer.” Evaluate each proposal and discuss whether each of the offers constitutes a valid offer. Why or why not?
- Each proposal involves a different country. What are the particular concerns for Gloria in doing business in other countries? What contract provisions does she need to include in any business contract in order to protect her business?
- How can Gloria continue to protect herself and her family from personal liability if she obtains her widgets from a foreign manufacturer? Use your textbook and library references to answer these questions. Evaluate each proposal. Does it constitute an offer?