Business Law

2353 words 10 pages
Marina Trohin Business Law William A. Shelby 2/13/2013

Introduction At the course of Business Law, we got the knowledge about the contract. In addition we have an assignment that provides a contract analysis. This evaluation of the contract will be reviewed in accordance with the following requirements: 1. What specifically makes this contract enforceable? 2. What are the responsibilities of both parties? 3. What are the possible damages and liabilities? 4. What impact does a potential breach of contract have on the business? 5. Summarize, by reflecting in
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* To promote the rules for completing each task within time frame and approval of every task. * To define and document what testing data is needed for the CBC/512 rate structure project. * To pay for services provided by contractor herein as Professional Data Exchange (ProDX).
3. What are the possible damages and liabilities? If Pro DX breaches the contract, the possible damages can be: * The DHS might sue the party for a remedies under the law; * The Pro DX will be enforced to pay the caused damages, that can be compensatory, liquidated, nominal, and/or punitive damages. * The Pro DX can be enforced to a specific performance. Basically a decree requiring the breaching party to perform their part of the bargain in the contract. * Pro DX might meet with the terms such -Cancellation and Restitution. A non-breaching party may cancel the contract and sue for restitution if the non-breaching party has given a benefit to the breaching party. The former contract which is the subject of dispute is “rescinded” (cancelled), and a new one may be formed to meet the parties’ needs. * Pro DX will have to pay the attorney’s fees and cost. (in case of litigation). If we will look from the DHS’s side, the possible damages that can appear are: * To waste time waiting for the performance; * To lose the work that should be provided after the implementation; * Damage also includes the costs of hiring

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