What to do about continuing to do business with Don Essay

What to do about continuing to do business with Don - Essay Example The contract is disadvantageous to the company, because in effect it ties the company to supply Don with grapes at quantities that he expects, and at prices that are far below the appreciating price of the grapes due to its improved popularity and increase in demand. A party in good faith will not do this, and it would be a spiritual, material, and psychological drain on the company to continue doing business with such a man. It is in the best interest of the company therefore to stop dealing with Don, and resort to the law to resolve the dispute (Justia, 2011; US Legal Inc., 2010; Meislik & Meislik, 2003; Lawnix, n.d.; Cornell University, 2010; Stim, 2012; Longhofer, 1997; US Legal Inc. (b), 2010; StasoSphere, 2009). II. Scenario: Stop Doing Business with Don- (1) Legal Causes of Action Don Might Bring Against Company; (2) Remedies, Damages that Don Might Seek; (3) Legal Defenses the Company May Have (1) Don, by presenting the contract, and by citing â€Å"accord with an implied du ty of good faith and fair dealing† seems to know his law, and as such is assumed to press for the continuance of the supply of Cuppernog grapes to his business, on the terms stated in that contract signed by the son, using all of the legal means at his disposal. First of course is the matter of the contract that the 17-year old son signed on behalf of the company, binding the company to the supply contract. Second, the stipulation on â€Å"implied duty of good faith and fair dealing† stipulates that the company is to not act in ways that would â€Å"unfairly† hinder in the way other parties are able to derive the contract benefits (Justia, 2011). Don is saying that by not continuing to supply his store with the grapes, the company is violating this. The law seems to be cognizant of this fair dealing and good faith formulation in contracts, and is mentioned in the legal literature in the same breath as implied contracts (State of Delaware, n.d.). The idea of impli ed contracts is that, from the way the two parties have dealt with each other, from their conduct and actions, there is a contract existing, even if the contract is not entered into in words. Don can argue, from the implied contract principle, that not supplying him with grapes, as had been the practice, would be unfair to him, and would breach an implied contract in existence between him and the company (US Legal Inc., 2010). Don can also sue on the basis of the doctrine of promissory estoppel, and argue that even without a contract, there is an implied promise for the company to continue supplying Don with the grapes (Cornell University, 2010; Lawnix, n.d.). Don can also sue on the principle that should the company suddenly stop delivering grapes to him, because another company or other parties are willing to pay higher prices for the grapes, that the company would be in violation of lex mercatoria laws, or the merchant customs, which are common laws in operation and recognized, w ith regard to the rules and laws that govern the transactions and actuations off merchants (Farlex, 2012). Then there is the case precedent that Don can use to argue for the company to continue supplying grapes to him, the case of Sons of Thunder vs. Borden, where the ruling was that where a firm is not â€Å"honest in fact† in terminating a contract to supply unilaterally, that firm continues to have liability attendant to that contract. Don can argue that the way the company terminated the supply agreement is in

How does the western model of Internet Banking apply to Russia Literature review

How does the western model of Internet Banking apply to Russia - Literature review Example Recently many banks have adopted online banking. With its boom in the United States and the United Kingdom, online baking has subsequently spread to other areas, Russia included. Victor (2008, p. 724) asserts that although this is the era of internet boom in many regions of the world and that more developed countries are increasingly using the internet for various ways, the reality is that most of the developing countries are yet to fully adopt the internet and embrace it as a way of doing business. The online banking, commonly referred to as the internet banking is one of the newest forms of banking adopted by banks in the developed countries. According to Arnaboldi (2009, p. 1), â€Å"a few pioneering banks started to offer products via the internet in the mid-nineties.† This shows long the service has been on going in the European-banking sector. However, Russia and other Eastern Europe countries are yet to realize the dream of conducting most of their banking operations wi th convenience of their mobile phones and computers. Hopes of these people transforming their banking services and fully going digital are still alive, if the current changes and improvements in the banking sector are anything to go by. More and more, banks in the Russian region have embraced the need to go online, with many customers already subscribing to internet banking. While the previous technologies used in the country were unreliably painful to the customers, current innovative improvements in the sector provide hopes for a full transformation of the entire sector. However, not all western banking models are applicable in the Russian situation. A few modifications are necessary to make it compatible with the Russian customer base. This is because of the differences in customer base between the developed and the developing countries (Jaruwachirathanakul & Fink 2005 p. 302). The slow nature of the internet banking penetration rate of the people constrains the hopes of growing and expanding this sector to robust volumes such as in the United States and on the United Kingdom. Hopes for growing the sector are still high, as 10-12 per cent of the total bankable population are ready and more than willing. This percentage loves the convenience of the internet, as well as its efficiency. The biggest booster of this trend is the adoption of the emoney and the money kiosks industry. Most of the banks offering internet banking in Russia offer payment services. This is however, a misconception about the whole issue about internet banking, a notion held by most of these banks’ customers. Initially, banks offer banks offer iBanking services to their customers, with only the opportunity to make their payments. The biggest advantage for this service is its ability to reduce the transaction costs for the customers. However, banks miss out from making sales, which were potentially available for the banks to exploit. Mols (2000, p. 12) stresses on the important rol e-played by the internet to business organizations in marketing their products and services. according to Mols, (2000, p. 14), the increase in online marketing offers business organizations unlimited opportunities to advertise and sell their products and services. As such, many organizations have introduced online sales that allow customers to search and pay for the ownership of goods. Benefits accrued from online banking cannot be underestimated. In most cases, young men aged between 25