International bussiness law Coursework Example | Topics and Well Written Essays - 1750 words

International bussiness law - Coursework Example With regard to the efficiency along with the adequate significance of a valid contract, the aspect of consideration is often viewed as one of the major attributes which ensures to clearly understand about the conditions accepted by both the contractual parties during an agreement (MacMillan & Stone, 2012). This paper intends to critically define and explain the aspect of ‘consideration’ in relation to the law of a contract. In order to critically understand the major guidelines underneath the aspect, the discussion of this paper would highly focus on critically evaluating the statements regarding consideration that include â€Å"past consideration is not good consideration† along with â€Å"consideration must be sufficient but does not have to be adequate†. (i) Definition and Explanation of Consideration in relation to the Law of Contract In relation to the perspective of contract law, the aspect of consideration is identified as a set of principles that ar e agreed by both the parties while entering into an agreement. With the purpose of enforcing a contract, it is essential for both the party(s) to agree with certain terms along with conditions concerning payment. Therefore, consideration in a contract can further be stated as the commitment of paying the price of a contract by the other party. Consideration may also be recognised as the benefit or interest acquired by one party with loss or liability given by the other party (Field, 2012). Moreover, consideration is also defined as the fundamental prerequisite which denotes certain essential terms along with conditions, to be accepted by both the contractual parties in achieving the predetermined objectives of the contract. Owing to the stated concern, the fundamental law governing the facet of consideration is generally defined as agreed equivalent and inducing causes of the parties, for the purpose of satisfying the value and validity of the contract (Xie, 2010). Therefore, consid eration of a valid contract generally incorporates three major types of obligations that efficiently enable the contractual parties to accomplish their desired objectives. In this regard, the obligations relating to the doctrine of consideration include the following: The obligations associated with a valid and a justified contract law ensure to act independently for smooth progress of the contractual agreement The obligations that are allocated by the third party of the contract and The obligations that exist in a particular contract with an individual, who has created a new promise, for which the persisting obligation is suspected in offering a valid consideration of a contract (MacMillan & Stone, 2012). Roles and Significance of Consideration With reference to the law of contract, consideration ensures to play a decisive role for both the parties in order to achieve a valid contractual agreement. In relation to determine the importance of consideration, it can be affirmed from a broader outlook that ensuring the incorporation of valid conditions in line with the justifiable requirements of a contract is an essential role of consideration. The aspect i.e. consideration

Preety Vs Non Preety Thesis Example | Topics and Well Written Essays - 3000 words

Preety Vs Non Preety - Thesis Example It will be argued that those who appear better always do relatively better in their lives – keeping all other factors aside. It will further be contended that people who are physically more attractive tend to get more opportunities in their lifetime as compared to their colleagues with unattractive personalities. Moreover, the idea that people with more attractive physical appearances comparatively achieve more in their lives, will be put forward with the help of observation of each and every stage of a human life. ‘Physical appearance’, for the purpose of this paper must not be misinterpreted as ‘beauty’, as the idea of beauty as mere physical appearance is subjective. The physical appearance indicated throughout this paper will relate to only physical attractiveness which may find its roots in different characteristics of a person like his/her intelligence, approach, personality, richness, way of communication and/or prettiness etc. The paper propos es that even though a person’s physical attractiveness may not usually determine his/her working capacity, it is a recurring phenomenon that a person’s physical appearance affects other people’s perception of him thus giving rise to unequal distribution of opportunities amongst the working class based on their physical attractiveness (Loh). ... to show its effects† (Jackson) It is further proposed that the phrase ‘deciding his/her life’ refers to one’s eventual success in life through different stages that every human has to live e.g. childhood, teenage, young adulthood, adulthood and finally old-age. It does not mean that one’s personal life decisions are based upon his physical appearance, however, it refers to the idea that other’s decision with respect to him/her will definitely depend upon his/her physical appearance. The human society revolves around interdependence and notions of social contract (Hampton) which require social interaction and such social interaction is undoubtedly influenced largely by each individual’s physical appearances. Throughout the paper, the main focus will be upon the influence of physical appearance in the social interactions (reflections and perceptions) in different frameworks of various institutions that one happens to come across in his ent ire life-time. â€Å"Democratic or not, physical attractiveness has an important influence in almost every realm of behavior in which its effects have been studied† (Jackson). Through following three subdivided stages of one’s life, this paper will discuss above mentioned contentions in the light of physical attractiveness – (a) Childhood (Kindergarten), (b) Teenage and young adulthood (Middle & High School), (c) Adulthood & Old-age (Job market and Retired life). 2. Effect of Physical Appearance in one’s Childhood life: The birth of a child is known to have been the most beautiful gift of nature. But is this beauty enough to blossom that child as beautifully as others who were born at the same time as him? The most logical answer that follows is – no. There will always be an unequal distribution of resources