Becoming Global of the For a contract to be valid, there are key elements to consider. These elements include the following. there must be a valid offer o given to the contractor. It should be definite and stated clearly. The other element is acceptance. This means that when an offer is given, the contactor has to accept it as offered. Acceptance is in either writing or verbally (Santos, 2010). The third factor is that the parties engaging in the contract must come up with legal relations. This means that they must create a legally bound agreement. Lastly, for a contract to be valid, the parties should have some valuable considerations. If the party promises to accept the agreement, the other party must promise to give something in return (Burnett, 2004).
A valid offer has a clear communication and is specific and definite in its terms. Considering the above three proposals, the first proposal gives a valid offer. The contractor clearly communicates the terms of her offer. She also gives the time lapse of the offer. The other three offers only communicate the quantity of the product they would produce and the cost of purchasing them. They do not give definite terms of the offer (Moens & Gillies, 2000).
Gloria wants to engage in a global business because she wants to expand her business. Her concern is that if she engages in a business with the large retailer supplier, she will have to cut down her costs. However, she should consider other issues. Such issues are the laws of that country, the taxes that she would pay and language issues. She should also consider employing trusted employees for her business to succeed ( Hayward, 2012).
Gloria can protect herself and her family from persona liability by obtaining an insurance cover for her business. She can also have some by-laws that would allow another person from the company to act on her behalf (Annabel, 1987)
Annabel.E. (1987) Sale of goods: legal issues. New York: Guilford Press.
Burnett, R. (2004). Law of International Business Transactions. Australia: federation press.
Hayward, B. (2012). “Good News for Japanese” law institute journal vol. 84(6), pp.48
Moens, G. & Gillies, P. (2000). International Trade and Business: Law, policy and ethics. Australia: Cavendish.
Santos, R. (2010). “Harmonization of Internet Laws: Is the CISG a good source of E-commerce law?” International law Bulletin vol.