Establish and Conduct Business Relationships
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Added on 2020-01-07
Establish and Conduct Business Relationships
Added on 2020-01-07
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ESTABLISH ANDCONDUCTBUSINESSRELATIONSHIPS
Table of ContentsINTRODUCTION..........................................................................................................................................................2TASK 1 ..........................................................................................................................................................................3(i) What are the legislative requirements under supply contract .............................................................................3(ii) Describe the relationship among business with its supplier's .............................................................................4TASK 2...........................................................................................................................................................................5CONCLUSION...............................................................................................................................................................6REFERENCES ...............................................................................................................................................................7
INTRODUCTIONThe case study is based upon supply contract among two parties. Contract is an legal agreement among twoparties when both are ready for any commercial business deal. Contract can be usually in form of written or spokenand in that one party offers and other accept the offer to make a contract. It is legal consideration of businessrelations to achieve organisational goals and objectives (Bin and Zhang, 2014). Form above the case study alsorefers about the role of supply contract and sale of goods act. It is the responsibility of supplier that he shouldprovide quality products to their customers. In that case study there are two parties that are binding in a contract, asalong the supplier is not able to provide quality services to customers as per the deed. So as customers have to rightto sue upon suppliers as per sales of goods act.TASK 1 (i) What are the legislative requirements under supply contract To understand the role of supply contract, firstly know about the contracts. Contract – A contract is a legal agreement between two or more parties that is supposed to be enforceableby law. Any agreement cannot be turned into as contract until its enforceable by law, but a contract is always anlegal agreement. Along with this, a contract has contains all of the important elements that are helpful in order tomake him valid contract (Chakraborty and Das, 2015). A valid contract is lawful objective and it consists with legalobligations and considerations. In contract, each and every party acquire duties and rights that are relates withanother party's rights and duties. It is a contextual relationship among two parties. Elements of contract, are as follow– Lawful objective, legal consideration, legal formalities, availability & possibility of performance, legal relationship,consent to contact, competent to make contact, certainty, not expressly declared void, capacity to contract. Supply contract – Supply contracts helps to make smooth and effective relationship between supplier andcustomer. It seeks with providing quality services to customers and clients in order to achieve organisational goals andobjectives. Manager of Inner City make a contract with its clients so as both can develop their relationship. Supplycontract consists from the producer and supply of products and services, stationery, office equipments and even thesupply of telephone lines and electricity. In supply contract, the terms and conditions are pre decided by the bothparties, so as there there should be no misunderstandings and ambiguities. Along with, clients and customers do nothave to trust blindly, they should have to read the overall contract and its terms and conditions (You and Zhang, 2012).The supplier contract involves these elements, such are as- Renewal termsConfidentially clausesa description of the supplier's requirements and servicesCompensations and refunds clausesDates, signatures and also the signature of twines if they are applicable. Name and address of both parties those are involved in contractPayments terms and frequency of payment. The above mention case study is all about the contract between two parties. The manager of Inner City, hotelhad been in a contract with some another parties. Basically the supply contract is all about supply of fruits, vegetables
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