MANAGING FOR EFFECTIVE AND ETHICAL ORGANIZATIONAL BEHAVIOR Essay 18 Misrepresentation

MANAGING FOR EFFECTIVE AND ETHICAL ORGANIZATIONAL BEHAVIOR Essay 18 Misrepresentation

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
MANAGING FOR EFFECTIVE AND ETHICAL ORGANIZATIONAL BEHAVIOR Essay 18 (Misrepresentation) MBA
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
People have to be careful about what they say and what they do, because one day it can be used against them. Billy bought a fake violin. Will he collect damages? Who is liable for this unlucky transaction? What about a card from Vegas that was used as a receipt. This paper will answer these answers. Estoppel is “doctrine of reliance; prevents parties from backing out of an obligation they have created; for example, a partner by estoppels has allowed others to use her name in connection with a partnership and is stopped from denying liability to third parties who have relied on that representation. But what if there was no contract, so can the party be liable? Let’s first discuss contract, offer and acceptance. What is a contract? ,,A contract is formed when two parties with the correct mental intent, under the correct circumstances, within the boundaries of the law, and with some detriment to each of them agree to do certain acts in exchange for the other’s acts. The lack of one element or the presence of a problem, such as illegality, can invalidate the contract. The elements that are necessary for the formation of a valid contract are: offer and acceptance. The offer is a first part of a contract. The person who makes the offer is called the offeror, and the
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

MANAGING FOR EFFECTIVE AND ETHICAL ORGANIZATIONAL BEHAVIOR Essay 18 Misrepresentation

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online