JJ_U3_IP3_IBL - Running Head PEPSI VS JOHN DR LEONARD...

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Running Head: PEPSI VS. JOHN DR LEONARD Pepsi’s Harrier Jet Fiasco By Jeremy Tyson Jarvi BUSN310-1201A-02 International Legal and Ethical Issues in Business Professor Elizabeth Clark, Instructor American InterContinental University Sunday, January 22 nd , 2011 Abstract In a TV commercial that aired in 1995, the company jokingly included the Harrier as one of the prizes that could be received with a mere 7 million company points (Wall Street Journal, 1999). Although that sounds like a lot of points to get from drinking the soft drink company's products (roughly 190 drinks a day for 100 years), the company also allowed customers to purchase points for 10 cents each (Wall Street Journal, 1999). The man did the math and
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Running Head: PEPSI VS. JOHN DR LEONARD discovered that the cost of the 7 million points needed for the jet was $700,000. He then put together a business plan, raised the $700,000 from friends and family, and submitted 15 points, the check, and an official order form along with a demand for the Harrier jet (Wall Street Journal, 1999). Pepsi vs. John DR Leonard Parts of a Valid Contract Before signing on the dotted line, both consumers and businesses need to know what all is in the contract, just in case the deal goes south. There are four separate parts of a valid, legal contract, and they are as follows: 1. Agreement. This is between to individuals. It could be an individual and a company or a company and another company that come to the agreement. The agreement has to be stated clearly and understood by both parties, and it must be written down on paper, and both parties must agree to all the terms and conditions that are stated in the contract. If the parties cannot mutually agree on the terms and conditions of the contract, then there
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Running Head: PEPSI VS. JOHN DR LEONARD can be no contract whatsoever (Hartman, Desjardins, 2010; August, Mayber, Bixby,
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JJ_U3_IP3_IBL - Running Head PEPSI VS JOHN DR LEONARD...

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