Commercial law ( commercial contracts ) Essay Example | Topics and Well Written Essays - 1500 words

Commercial law ( commercial contracts ) - Essay Example A contract is said to be formed only if such counter-offer is accepted. The common practice is that until acceptance is conveyed to the offeror, it is not valid. Some exceptions in this regard are a) if the offeror has waived the requisite for communication b) when acceptance is communicated by post, it will be effective on posting. Communication sent through fax, telephone, computer, telex or fax is not effective until received by the offeror. Moreover, it is arduous to find when exactly a telex, fax, a message left on a telephone answering machine or e-mail message is actually â€Å"received.† Decided case laws on the subject indicate that the time when such a message becomes effective relies on a number of issues including customary business practices, the anticipations of the contracting parties and the court’s evaluation of which of them should bear the onus as decided in Brinkbon Ltd v Stahag Stad Gmbh1. In case of acceptance through the e-mail, the time when it will be effective has not yet been considered by the courts. It has been recommended that in case of e-mail acceptance, the postal rule can be applied as an intermediate is involved. Conversely, it is argued that general rule will be applicable, since e-mail messages are delivered instantaneous and there is no facility to find out when the e-mail message is actually delivered. Any uncertainty provisions in the commercial contracts may make the contract non -binding. For instance, an agreement that a contract is to have a ‘regular force majeure stipulations ‘is not binding as the same is uncertain, since there are no ‘customary force majeure stipulations ‘as decided in the case â€Å"British Electrical and Associated Industries (Cardiff) Ltd v Patley Processing Ltd2. â€Å" In â€Å"G Scammell and Nephew Ltd v Ouston3, â€Å"it was viewed that an arrangement or

Internet business Essay Example | Topics and Well Written Essays - 3250 words

Internet business - Essay Example This instant connectivity has not been lost on business. As quickly as consumers are buying personal computers and accessing the Internet through modems or cable boxes, businesses are building and implementing web sites on the Internet, sensing the great potential in sales, advertising, and customer service. For some businesses, using the Internet is not just an extension ÃŽ ¿f their normal business, it is a matter ÃŽ ¿f survival. Without a web site, many businesses would not able to compete within their marketplace. However, in the frenzy to secure a "presence" on the Net, many businesses have not properly evaluated the risks they face when expanding activities to the Internet. Some businesses simply have not considered whether this new sales and advertising "tool" creates new exposures for them. Others have regarded their activity on the Internet to be merely an extension ÃŽ ¿f their normal functions, creating no new risks for them. Unfortunately, this mindset could lead to major uncovered losses for businesses. Somewhat in the same manner, insurance professionals have not thoroughly examined the exposures created by doing business on the Internet. There has been little review ÃŽ ¿f existing policies to determine if they provide adequate coverage for Internet sales or advertising, and not much has been done to identify any "new" or "unique" risks that have originated with e-commerce. This truly is the information age, and one ÃŽ ¿f the easiest sources ÃŽ ¿f information to access is the Internet. Everyone seems to be headed for the Internet in one way or another. It has become a primary vehicle for communication, replacing the telephone, regular mail service, as the way to communicate effectively in business and personal life. Business has flocked to the Internet for several reasons. Some 'f these are the same reasons that have driven the general public to the Internet--ease 'f communication and the ability to get information and conduct research quickly and efficiently from the comfort 'f one's office or home. But business also recognizes the huge potential the Internet provides for advertising, sales, and cost reduction--driving more dollars to the bottom line. The objective 'f this article is to evaluate the risks businesses face by using the Internet in sales, advertising, and other online activities. These risks will then be analyzed in view 'f several standard commercial insurance policies: ISO's Building and Personal Property Coverage Form (CP 00 10 06 95(*)), the Business Income (and Extra Expense) Coverage Form (CP 00 30 06 95*), and the Commercial General Liability Policy (CG 00 01 01 96(*)). The analysis will review the perceived exposures 'f a business with a web site to determine whether these standard coverage forms protect the business from anticipated losses. The analysis will identify exposures that do not appear to be covered under these forms. In particular, the analysis will attempt to identify risks unique to the Internet. This article will