Administrative Law and Business
Administrative Law and Business
Discussion 1: Regulation and the Greater Good
After viewing The Crisis of Credit Visualized (Links to an external site.) video: respond to each of the following:
- How could government regulations have prevented or mitigated the credit crisis of 2008?
- Discuss whether too much governmental regulation of business or too little governmental regulation of business presents the greater danger to:
- the greater good
Discussion 2: Administrative Law and Business
Some argue that government needs to increase its regulation of business for the good of society as a whole. Others believe that the marketplace is self-regulating and that government intervention through needless regulation places an unfair, costly burden on businesses in general and on small businesses in particular. What role do you believe government regulation should play to ensure ethical conduct by businesses? How do different political viewpoints potentially shape the answer to this question?
Assignment : Elements of a Contract
Suppose that the Fabulous Hotel hires you as head chef under a two-year employment contract. After two years, another hotel wants to hire you. However, in the original employment contract you signed with the Fabulous Hotel, the following paragraph appears:
“The below-signed agrees not to work as a chef for another hotel in the same metropolitan area for a period of two years after leaving our employ.”
- Describe and analyze the five elements of a contract that must exist for this agreement to be enforceable.
The two parties to a contract are the offeror (the person making the offer) and the offeree (the person who has the power to accept the offer). Offer creates in the offeree the power of acceptance. Therefore, one can say that the offeror is the party who makes the offer, and the offeree is the party who has the power of acceptance.
Acceptance is one of the four events that can happen after a valid offer, but it is the only one that leads to contract formation (the second element).
Consideration is the third element required of all contracts. Despite its importance to contract law and its long and deep history, it has really become quite archaic. As a result, we will discuss it only briefly. The concept of consideration is what makes a gift different from a contract.
The fourth element of a valid contract is capacity. This relates to the mental state of the parties to the contract. A party who lacks capacity does not have the ability to understand the consequences of entering into a contract.
The fifth and final element of a contract is the requirement that the contract be legal. So even if it fulfills all other four elements, if it is for the transfer of goods or services that are illegal, it is invalid.
Explain why this contract is governed by common law or the Uniform Commercial Code (UCC).
Examine at least two circumstances in which this non-compete agreement would be unenforceable.
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