Law essay Example | Topics and Well Written Essays - 1500 words

Law - Essay Example was carried in by the canon lawyers and then by the school of natural law leading to voluntarism, the leading lights of which were Domat and Pothier and which carried all before it under the French Civil Code during the whole of the nineteenth century. Conversely, in England, though not in Scotland, Roman law has not had the same influence. It took longer for the notion of contract to be worked out and voluntarism went into an almost immediate decline. The decline was hastened by the analyses of American writers, particularly following the famous article by Fuller and Perdue these went as far as proclaiming the death of the contract. Yet contract is alive, and it continues to constitute the basic legal instrument used to regulate the economic relations between natural and legal persons. It is, however, a concept which has undergone a certain evolution and which, from a comparative point of view, does not take the form of a uniform model. A contract under common law is not exactly the same as under the German or French legal systems. For that reason, it is necessary to begin with a study of the basic notion of a contract as it exists in the main legal systems with which we are concerned, in order to work out what it is that the various concepts with which we are concerned, in order to work out what it is that the various concepts found in those systems have in common. Once that has been done, it will be possible to determine the relationship between the notion of a contract, as thus defined, and the other sources of law giving rise to obligations, such as torts and quasi-contract/restitution. After that, it will then be necessary to move onto a higher plane, by considering what it is that gives binding force to a contract (Beale, 2002, KÃ ¶tz and Flessner, 1997). A contract is a voluntary agreement or promise between legally competent parties, supported by legal consideration, to perform or refrain from performing) some legal act. That definition may be easier to

Entrepreneurship Essay Example | Topics and Well Written Essays - 3000 words

Entrepreneurship - Essay Example Individuals who qualify to be entrepreneurs must be creative with abilities to come up with solutions to curb the emerging challenges in the business atmosphere. As a result of their efforts to utilize the resources available and exploit the opportunities available, entrepreneurs enjoy rewards in the form of increased profits and strong customer loyalty. Leadership and creative characteristics of an entrepreneur One of the major leadership characteristics of an entrepreneur is the ability to form strong teams that are vital in the achievement of their own goals as well as those of the entire business. Additionally, management skills are essential for the success of any entrepreneur. For example, since most of the entrepreneurs are manage and control their employees without being accountable to the directors or other senior people, they should have excellent management skills. In this way, they are able to formulate effective policies that guide other employees in their responsibiliti es. In the same way, entrepreneur must have adequate marketing skills. In this way, they will be able to come up with innovative products that will effectively face off their competitors in the market. Skills in customer care and environment analysis are additional characteristics that assist an entrepreneur in maintaining high level of customer loyalty. Skills in environment analysis are fundamental in the sense that they helps an entrepreneur when undertaking a SWOT analysis especially when expanding his or her venture, while contemplating on going global or when forming merger with related firms. How to become a successful entrepreneur One of the major ways to become a successful entrepreneur is by doing what you enjoy most. By undertaking a business venture in the field that one enjoys, an individual will gain from personal satisfaction and financial gain. To ensure a successful business, an entrepreneur should adopt the culture of planning all his or her undertakings. Business planning is vital on the bases that it helps business owners in analyzing business situation thus making a viable conclusion. Additionally, business planning assists entrepreneurs in developing individual and corporate goals. Being used as a yardstick of raising the business to the next level, business plan is used by successful entrepreneurs, as an avenue of raising extra capital from the investors and financial institutions. Successful companies manage money wisely. In order to ensure that businesses meet the short-term and long-term liabilities it is fundamental to ensure that cash outflow is maintained at the minimum level while the inflows are maximized. A successful entrepreneur must be able to pay for the inventory and services as well as replace tools and equipments that are used in the production facility. One of the major ways of effective money management is to ensure that income generated from the exchange of goods and services is appropriately utilized. In this way, a b usiness is able to meet its goals. Secondly, an entrepreneur must ensure that adequate money is kept to cater for wages, supplies and inventory that are vital for the daily