Essential Elements of a Binding Contract Research Paper

Essential Elements of a Binding Contract - Research Paper Example The lack of experience in dealing in drafting legally binding contracts by businesses and individuals has promoted the occurrence of illegal acts in the administration and formation of contracts. In order to ensure that non-enforceable contracts do not occur in the future, both parties entering into a contract are required to take into consideration all the relevant requirements of a legal and valid contract. Definition of a Legal Contract According to Miller and Hollowell (2008), a contract is a legally binding agreement between two or more persons. The two parties agree on acts that will be refrained from or performed in fulfillment of a promise. Disputes from the contracts arise when one party refuses to fulfill their part of the promise made to another contracting party. The objectives of the contract theory are to show how a contract is formulated and enforced. The theory aims at describing and showing the intention of the parties to enter into a contract. The intention of the parties to enter into a valid contract is determined by an external party normally by the court of law. The courts rely on the words that a party said when he/she was entering into the contract, the actions of the party before he/she entered or what the appearance of the party looked like before entering into a contract. The law recognizes that the party entering into a contract that is valid must be based on free will. However, the law is responsible in regulating the freedom that an individual can enjoy from a contract. The law does not allow individuals to abuse the freedom to contract (Emerson, 2009). Parties in a Legal Contract The main parties to the contract include the offeror, offeree, and the government. The offeror is the party that agrees to deliver services or goods or services. The offeror is the party that agrees to accept the goods at the agreed consideration and the government acts as an agent to ensure that a contract is enforced. The main obligations of an offeror in a contract include specifications of the terms of the contract. The specifications should be enough and clear to enable the offeree to understand and accept the offer. For example, an offeror selling a house must specify the boundaries of the land holding the house and the price of the house. The offeror must specify the duration of the contract and the day that the contract will expire. The offeror reserves the right to revoke his offer in a valid or change the terms specified in a contract (Miller & Jentz, 2010). The obligations of the offeree are to accept the offer based on the requirements laid do wn by the offeror. Legally the offeree has a responsibility of paying the offeror the consideration they agreed upon. If any of the parties does not bind by the rules of the contract, there exists a breach of contract. The Role of a Third Party In a Legal Contract Collins (2003) states that, the role of the third party in a contract is to give a constructive notice or provide some kind of influence in the performance of a contract. However, the role played by a third party in the performance of a contract is limited. The third parties may be used to solve a dispute arising from a contract or a friend who passes important information to both the offeror and the offeree. The third party can also be a beneficiary who has the right to enforce a contract.

Sub-Atomic Particles :: Physics Science Sub Atomic Particle

Introduction In Ancient Greece, many believed that everything was made up of simple particles called Atoms. They called them Atoms because they believed that they had no parts and could not be broken. This had been believed for many centuries until evidence that something smaller actually existed (the electron). Once scientists found the electron, they were not satified. Scientists kept creating new theories and testing new hypothesis' attempting to find what makes the world tick. Now, the universe's fundimental particles have seemingly been found, but scientists are still searching for a more complete answer. The sub-atomic particles that are known to exist now are a strange and vast new addition to the seemingly grand scale that is our universe we live in. There are many things left to find, create, observe, and explain, but it is human nature to attempt to do these things and find out what got us here. There are many different types of sub-atomic particle. They all can be classified down to 3 basic types: Bosons, Fermions, and Hadrons. Of these, Bosons and Fermions are fundimental particles and therefore cannot be broken down any farther. Boson is the term for a particle with a even integers as spin (0, 1, 2). Spin being the intrinsic angular momentum of a particular particle. There are 5 different known bosons. These are gluons, photons, W- bosons, W+ bosons, and Z bosons. There is one more theorized boson, the graviton, but it has not been observed yet. Bosons are known as Force-Carrier Particles, and they act as "inbetween's" for particle interaction. The most commonly observed boson is the photon. It is the force-carrier particle for the electromagnetic force. It is massless, has a spin of 1, has no color or electromagnetic charge, and travels at c (the speed of light). Gluons are the next boson of importance. Gluons are the force-carrier particles for the strong nuclear force. They are also massless, chargeless, and have a spin of 1, except they do carry a specific color charge (color charge is the indicator for the strong nuclear force). Gluons exist to keep quarks together into cohesive units with a color charge of 0. W-, W+, and Z bosons are the force-carrier particles for the weak nuclear force. Each has a specific mass, a specific electromagnetic charge and a spin of 1, but no color charge (so they do not participate in the strong force). Weak interactions are the flavor changes between particles (flavor being the specific type of particle).

Digital Advertising vs Print Advertising

Advertising is the action of calling something to the attention of the public especially by paid announcements. This has been accomplished using a variety of mediums that have evolved through the use of new technologies. Approaches to advertising include television, radio, online, product placement, billboards, newspapers, and magazines. Digital advertising has become a more accessible and effective form of advertising than press advertising in our growing society. Digital advertising promotes ads through technologically advanced means, such as the internet, television, and telecommunications. It is not to be confused with digital signage, which is a form of electronic display like LCD, LED, and plasma screens. The internet now offers ways to reach an unlimited number of consumers and innovative ways to narrow this selection. A customer can be chosen based on the sites that they surf. An ad for designer perfumes is likely to appear on a website for someone shopping on an online department store. Press advertising uses spreads in newspapers, spaces in magazines, and flyers. Slower societies without electricity rely on newspapers which is responsible for its success in the past. Therefore, there is no way to be selective in the people you are trying to cater to. Newspaper stands and subscription magazines gain loyal customers allowing press advertising to be an ideal form of communication for small businesses. Globally known products that are commonly purchased in a local area are often advertised using print advertisements. Advertising is a single component of the marketing process. It's the part that involves getting the word out concerning your business, product, or the services you are offering. It is not to be confused with the whole of marketing. Marketing consists of advertising, market research, media planning, public relations, product pricing, distribution, customer support, sales strategy, and community involvement. Moreover, advertising is a multibillion dollar industry that businesses use to promote the image of their company, which in turn sparks interest and increases sales. Although, advertising is not limited to a profitable business, it is also used by individuals, organizations, and political candidates. Persuading someone to share a common idea, to utilize services, or to buy something is the main goal of advertising. This has been since 79 A. D. when Romans in Pompeii made billboards to exhibit their testimony on the state of society. A more commonly known advertisement in history is that of Volkswagen, â€Å"Think Small†. The simplicity and use of white space in the campaign gained great response from the German people. Thomas Jefferson was one of the first persons to acknowledge the power of white space around headlines to catch ones attention. This aspect has been modified and has led to the use of bright colors, flashing lights, and shocking phrases. In the present day there are ads like Nike’s â€Å"Just do it,† and â€Å"Got Milk. These very campaigns have developed over the last twenty years. Changing from ads on the back of milk cartons to magazine spreads to television commercials, they have grown in their versatility. In a sense, they have grown with their generations and the technological advances that came with them. The invention of the television, telephone, and internet extremely changed the advertising industry. In the United States, the first television commercial recorded is that of Bulova Watch Company. They aired an ad on New York’s News Channel, WNBT before a baseball game between the Brooklyn Dodgers and Philadelphia Phillies. The ad featured the slogan â€Å"America runs on Bulova time. † Commercials frequently use slogans, jingles, humor, and animations to promote and idea or product. The use of these aspects allow for it to grasp the audience’s attention, be remembered, and depicted in ways that through the mere use of actors could not be accomplished. They range in length from a few seconds to a couple minutes. The telephone was an invention that many also took advantage of to advertise. This is more commonly known as telemarketing. It is a salesperson directly soliciting to customers over the telephone. This form of advertising leaves more up to words instead of a created image. DialAmerica Marketing Inc. was first company committed to telemarketing for sales and services. Telemarketing techniques are increasingly used in political campaigns. Because of free-speech issues, the laws governing political phone calls are much less strict than those applying to commercials. Many people find these calls to be annoying; subsequently, some states have banned political calls and initiated â€Å"Do Not Call List†. The internet has a caused a massive influx in the change of advertising form. Online advertising is disguised in well-known search engines like Google and Yahoo that are used on a daily basis. Rishad Tobaccowala, the â€Å"chief innovation officer† of Publicis, one of the world’s biggest advertising groups, says that advertising in this form allows advertisers to â€Å"make lots of spearheads and then get people to impale themselves. † The advertisements that show up are in some context related to what is entered in the search bar. The first online advertisement was the ad banner created by HotWired for AT;T on October 25 1994. The thing that these forms of advertising have is that they employ direct-response marketing. This allocates customers to contact advertisers directly and immediately. Direct-response advertising consist of four primary elements, an offer, sufficient information, an explicit â€Å"call to action,† and multiple means of response, like toll free number, web link, or e-mail. Technological innovations have depleted the once thriving ways to communicate products, and promote people and ideas. The technology formerly used is the printing press. The rapidity of typographical text production, as well as the sharp fall in unit costs, led to the issuing of the first newspapers. In 1704, the first newspaper advertisement, an announcement seeking a buyer for an Oyster Bay, Long Island, estate, was published in the Boston News-Letter. In 1810, Frederick Koenig invented the improved printing press. William Carlton of J. Walter Thompson advertising company was the first to begin selling advertisement space in newspapers in 1864. Newspapers began using digital production processes and using computers in 1967. Newspaper advertising has gone a long way over a longer period of time, opposed to online advertising which was almost overnight. In society today, the use of billboards, classified ads, coupon mailers, fliers, and radio are known as small-budget advertising. All of these except radio are forms of print advertising. Whether driving by a billboard, listening to the radio or flipping through the TV channels, every advertisement has dot. com present. A comprehensive advertising campaign is the only way to make a web site successful. The evolution of the Internet has business taking a new direction. Print newsletters require time and effort, while E-newsletters are the easiest, quickest and cheapest newsletters to produce. Each issue is produced electronically and can be sent to all subscribers through Email. Digital and print advertising are in competition, and so far digital is in the lead. According to Voice of America News, advertisers in the United States are spending more on ads on the internet than in newspapers. The internet passed newspapers in 2010 U. S. ad revenue, making the internet the second-largest ad medium behind TV, according to Interpublic Group of Cos. ‘ MagnaGlobal. One newspaper after another is going out of business across the United States, and the ad revenues of traditional print media, even of highly respected magazines, is declining. Pushing a message at a potential customer when it has not been requested and when the consumer is in the midst of something else on the net, will allow it to fail as a major revenue source for most internet sites. Better targeting of ads using individual interests and individual behaviors ensure that people are not bored or annoyed with each ad. As for paid search, it is closer to other mechanisms that allow a website to sell access to potential customers. It works effectively as a revenue source for Google. Online advertising poses as a threat to traditional print advertising because it contains a wide range of people it could possibly reach, products can be purchased immediately, and a product can be described in detail through testimonies, pictures, and reviews. If an ad is placed in a newspaper or magazine, and someone likes it he or she will have to come to your store or office to know more. But if the same ad appears on a website the visitor can click it and come straight to the website and get the full information about the product or service. The immediacy of the feedback is very high in case of internet advertising. Page views can be kept track of and effectiveness can be determined. Consumers are receiving messages through numerous forms but research models aren't accounting for this, they are only giving conversion credit to one medium. Someone who received a flier follows a link and is targeted with digital display ads for that product or related products; the way they interact with the advertisement determines how advertisers reach them. Many believe that scams are most ubiquitous to the internet. This is true but only because so much private information is transferred and communicated over the internet. Such as passwords and credit card information. Computer hackers cause this fear of purchasing items online which consequently makes people go for the â€Å"x† on advertisements all the time. When consumers use the internet to view online news like on CNN, ABC, SKY and BBC News, it is not uncommon for phoney misleading advertisement promoting a scam product to come up. Don’t let the internet scare you, because scams are also subject to printed newspaper advertisements. Waiting in the classified section of the newspaper, con artist target job seekers on a personal level. Much of the unemployed are desperate and willing to give information to have the chance to apply for a job, and sometimes this is by mail-in or over the telephone. This could by far be the worst way to try and obtain an occupation, given addresses and phone numbers can all lead back to your location. Newspaper advertisements do have a higher credibility than online advertisements, but it is easier to distinguish an online scam. The threat present in society today is that of Tivo and DVR, which record programs and also allow you to fast forward through commercials. This will allow for a discrepancy in the advertising industry for television. Maneuvers have been taken to prevent this, for example product placement and DRM’s. DRM’s are encryptions that don’t allow certain actions at certain points like on DVD’s when the FBI warning appears. New regulations could possibly be able to forbid the playback of television shows without commercials. Only new technology and time will tell. Watching shows and movies online impede on the viewing of commercials. This benefits online advertisers who pay for spaces on these web pages. That is why digital advertising is flexible, if it can’t reach you one way, it will try another. Print advertising has accomplished this also by the posting of billboards on buses, etc. This is less proficient though because advertisements cannot be updated as frequently and cost-efficiently. In the future, ads themselves will be engineered to obtain information on its audience, with the mined data immediately fueling message customization. Improvement by using new technologies will enhance the visibility, portability and impact of messages Holosonic, a US technology company, is taking the idea advertising technology to the edge. It has developed the Audio Spotlight, a system that fires a beam of sound onto a small area from a distance of more than 60ft. The company claims, the effect is to â€Å"startle and entertain† pedestrians without being audible to anyone outside the zone. Ad campaigns must become favorable interruptions which anticipate consumer needs by being exceedingly relevant. Digital advertising wholly completes this task and through the application of better developing technology will work to break any barriers or misconceptions. Print advertising is unlike digital because it uses press promote a product, organization or idea. Print advertising has reached far more impediments than the use of television, telecommunications, and the internet. Although useful in its unique, economic way, print advertising is slowing in production, not only because of new technology, but because of a change in the audience’s daily lives. Works Cited http://42explore.com/advertis.htm http://ezinearticles.com/?Print-Advertising-Vs-Online-Advertising—Whats-Better?&id=2385320 http://www.economist.com/node/7138905 http://www.huffingtonpost.com/brett-king/digital-versus-traditiona_b_563732.html http://inventors.about.com/od/pstartinventions/a/printing_4.htm

The Cenozoic Era Continues Today

Following the Precambrian Time, Paleozoic Era, and Mesozoic Era on the geologic time scale is the Cenozoic Era, which began 65 million years ago and continues to the present. After the Cretaceous-Tertiary, or,  K-T, Extinction at the end of the Cretaceous Period of the Mesozoic Era, which eliminated 80 percent of all  species  of  animals, the Earth found itself needing to rebuild. Now that all dinosaurs besides birds were extinct, mammals had the opportunity to flourish. Without competition for resources from dinosaurs, mammals had the opportunity to grow. The Cenozoic was the first era that saw humans evolve. Much of what is commonly thought of as evolution has happened in the Cenozoic Era. The Cenozoic Era Begins The first period of the Cenozoic Era called the Tertiary Period has been divided into the Paleogene and Neogene periods. Most of the Paleogene Period saw birds and small mammals become more diverse and grow greatly in numbers. Primates started to live in trees, and some mammals adapted to live part-time in the water. Marine animals didnt have such luck during this period when massive global changes resulted in many deep-sea animals going extinct. The climate had cooled significantly from tropical and humid during the Mesozoic Era, which changed the types of plants that did well on land. Lush, tropical plants were replaced by deciduous plants, including the first grass. The Neogene Period saw continuing cooling trends. The climate resembled what it is today and would be considered seasonal. Toward the end of the period, however, the Earth was plunged into an ice age. Sea levels fell, and the continents came to roughly the positions they hold today. Many ancient forests were replaced with expansive grasslands as the climate continued to dry out, leading to the rise of grazing animals such as horses, antelope, and bison. Mammals and birds continued to diversify and dominate. The Neogene Period is also considered the start of human evolution. During this time the first human-like ancestors, the hominids, appeared in Africa and moved into Europe and Asia. Humans Start to Dominate The final period in the Cenozoic Era, the current period, is the Quaternary Period. It began in an ice age where glaciers advanced and retreated over parts of the Earth that are now considered temperate climates, such as North America, Europe, Australia, and the southern part of South America. The Quaternary Period is marked by the rise of human dominance. Neanderthals came into existence and then went extinct. The modern human evolved and became the dominant species on Earth. Other mammals continued to diversify and branch off into various species. The same happened with marine species. There were a few extinctions over this period due to the changing climate, but plants adapted to the various climates that emerged after the glaciers retreated. Tropical areas never had glaciers, so lush, warm-weather plants thrived all during the Quaternary Period. Areas that became temperate had many grasses and deciduous plants, while slightly colder climates saw the re-emergence of conifers and small shrubs. No End in Sight for the Cenozoic Era The Quaternary Period and Cenozoic Era continue today and likely will remain until the next mass extinction event. Humans remain dominant, and new species are discovered daily. While in the early 21st-century climate is changing once again and some species are going extinct, no one knows when the Cenozoic Era will end.